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<br />. <br /> <br />(g) <br /> <br /> <br />pledged to the Trustee as security for the payment <br />of principal and interest on the Series 1991 Bonds. <br /> <br />The Loan Agreement constitutes a "revenue agreement" <br />within the meaning of section 469.153, Subd. 9 of <br />the Act. The payments required by the Loan <br />Agreement are fixed and required to be revised from <br />time to time as necessary, so as to produce income <br />and revenues sufficient to provide for prompt <br />payment of principal and purchase price of and <br />interest on all Series 1991 Bonds issued under the <br />Indenture when due, and the Loan Agreement also <br />provides that the Company is required to pay all <br />expenses of the operation and maintenance of the <br />project including, but without limitation, adequate <br />insurance thereon and insurance against all <br />liability for injury to persons or property arising <br />from the operation thereof, and all taxes and <br />special assessments levied upon or with respect to <br />the Project and payable during the term of the Loan <br />Agreement. <br /> <br />(h) Under the provisions of the Act, and as provided in <br />the Loan Agreement and Indenture, the Series 1991 <br />Bonds are not to be payable from nor charged upon <br />any funds other than the revenues pledged to the <br />payment thereof; the City is not subj ect to any <br />liability thereon (except with respect to such reve- <br />nues); no holders of the Series 1991 Bonds shall <br />ever have the right to compel any exercise of the <br />taxing powers of the City to pay any of the Series <br />1991 Bonds or the interest thereon, nor to enforce <br />payment thereof against any property of the City; <br />the Series 1991 Bonds shall not constitute a charge, <br />lien or encumbrance, legal or equitable upon any <br />property of the city (except with respect to such <br />revenues under the Loan Agreement); each Series 1991 <br />Bond issued under the Indenture shall recite that <br />the Series 1991 Bonds, including interest thereon, <br />are payable solely from the Letter of Credit and the <br />revenue pledged to the payment thereof; and no <br />Series 1991 Bond shall constitute a debt of the City <br />within the meaning of any constitutional or <br />statutory limitation. <br /> <br />. <br /> <br />(i) Under Section 103(a) and Section 149(e) of the <br />Internal Revenue Code of 1986, as amended, and the <br />applicable regulations of the Department of the <br />Treasury promulgated thereunder (the "Code"), the <br />interest on an issue of private activity bonds <br />issued by a political subdivision of a state for <br />certain facilities is not includible in gross income <br /> <br />. <br /> <br />6 <br /> <br />