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Agreements will be pledged to the Trustee as security for the payment of principal of, <br />premium, if any, and interest on the Bonds (except for certain rights to indemnity, <br />repayment of advances and payment of fees and expenses). <br /> <br /> d. Under the provisions of the Acts, and as provided in the Loan <br />Agreements and Consolidated Indenture, the Bonds are not and shall not be payable <br />from or charged upon any funds other than amounts payable pursuant to the Loan <br />Agreement, and moneys in the funds and accounts held by the Trustee under the <br />Consolidated Indenture which are pledged to the payment thereof; the City is not subject <br />to any liability thereon; no owners of the Bonds shall ever have the right to compel the <br />exercise of the taxing power of the City to pay any of the Bonds or the interest thereon, <br />nor to enforce payment thereof against any property of the City; neither the Bonds nor <br />any document executed or approved in connection with the issuance thereof shall <br />constitute a pecuniary liability, general or moral obligation, charge, lien or <br />encumbrance, legal or equitable, upon any property of the City; and each Bond issued <br />under the Indenture shall recite that such Bond, including interest thereon, shall not <br />constitute or give rise to a charge against the general credit or taxing powers of the City. <br /> <br /> e. Based solely on representations made to the City by Guardian Angels, it <br />is hereby found, determined and declared that the Guardian Angels Projects further the <br />purposes set forth in the Industrial Development Act in that the purpose of the Guardian <br />Angels Projects is and the effect thereof will be to promote the public welfare by the <br />enhancement of the provision of health care services in the community. <br /> <br /> f. Based solely on representations made to the City by Evans Park, it is <br />hereby found, determined and declared that the Evans Park Projects further the purposes <br />set forth in the Housing Programs Act in that the purpose of the Evans Park Projects is <br />and the effect thereof will be to promote the public welfare by the enhancement of the <br />provision of affordable elderly housing facilities and related services in the community. <br /> <br /> 7. Approval and Execution of Documents. The forms of Joint Powers <br />Agreement, Loan Agreements, Indenture, First Supplemental Indenture, Bond Purchase <br />Agreement, Mortgages and Assignments referred to in paragraph 2, are approved. The Joint <br />Powers Agreement, Loan Agreement, Indenture, First Supplemental Indenture, Bond Purchase <br />Agreement, Mortgages and Assignments are hereby authorized for execution in the name and <br />on behalf of the City by one or more officers of the City at such time, if any, as they may deem <br />appropriate, in substantially the form on file, but with all such changes therein, as may be <br />approved by the officers executing the same and acceptable to Briggs and Morgan, in its <br />capacity as special counsel to the City in connection with the issuance of the Bonds, which <br />approval shall be conclusively evidenced by the execution thereof, and then shall be delivered <br />to the Trustee. <br /> <br /> 8. Approval, Execution and Delivery of Bonds. The City is authorized to <br />issue the Bonds, in the form and upon the terms set forth in the Consolidated Indenture, <br /> <br /> <br />