<br />.
<br />
<br />.
<br />
<br />resolution, the Note, or any of the other agreements to which
<br />the City is a party, shall be limited at all times to the
<br />availability of revenues from the Lease Agreement sufficient to
<br />pay all costs of such performance and the enforcement thereof.
<br />The provisions of this paragraph shall, for all purposes of the
<br />Note, be controlling and be given full force and effect,
<br />anything else to the contrary in this resolution, the Note, or
<br />the other agreements notwithstanding.
<br />
<br />Section 3. Debt Service Fund.
<br />
<br />The Note shall be payable from a separate account in the
<br />Common Debt Service Account of the City, which shall be
<br />established solely for the payment of the Note. The City
<br />agrees to maintain such account until the Note has been paid in
<br />full. The revenues to be received by the City as rental
<br />payments under the Lease Agreement, are hereby pledged to the
<br />payment of the principal, premium, if any, and interest on the
<br />Note. The monies received by the City from rental payments
<br />under the Lease Agreement shall be deposited in such account.
<br />The monies on hand in such account from time to time shall, to
<br />the extent necessary, be used only to pay principal of and
<br />interest on the Note.
<br />
<br />Section 4. Miscellaneous.
<br />
<br />4.1) Invalidity. In case anyone or more of the
<br />provisions of this Resolution, the Lease Agreement, the Bond
<br />Purchase Agreement, the Disbursing Agreement, or the Note
<br />issued hereunder shall for any reason be held to be illegal or
<br />invalid, such illegality or invalidity shall not affect any
<br />other provision of this Resolution, the Lease Agreement, the
<br />Bond Purchase Agreement, the Disbursing Agreement, or the Note,
<br />but this Resolution, the Bond Purchase Agreement, the Lease
<br />Agreement, the Disbursing Agreement, and the Note shall be
<br />construed and enforced as if such illegal or invalid provision
<br />had not been contained therein.
<br />
<br />4.2) Performance. The officers, attorneys, and o~her
<br />agents or employees of the City are hereby authorized to do all
<br />acts and things required of them by or in connection with this
<br />Resolution, the Note, the Lease Agreement, the Bond Purchase
<br />Agreement, and the Disbursing Agreement for full, punctual, and
<br />complete performance of all the terms, covenants, and
<br />agreements contained in the Note, the Lease Agreement, the Bond
<br />Purchase Agreement, the Disbursing Agreement, and this
<br />Resolution.
<br />
<br />4.3) Certifications. The Mayor, City Administrator-Clerk
<br />and other officers of the City are hereby authorized and
<br />directed to prepare and furnish to Larkin, Hoffman, Daly &
<br />Lindgren, Ltd., bond counsel, to the Association, to the
<br />Lender, and to counsel for such parties, certified copies of
<br />. all proceedings and records of the City relating to the
<br />
<br />7 .
<br />
|