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that: <br /> <br />Findinqs. <br /> <br />It is hereby found, determined and declared <br /> <br /> (a) There is no litigation pending or, to the actual <br />knowledge of the City, threatened against the City <br />questioning the City's execution or delivery of the Bonds, <br />the Loan Agreement, the Bond Purchase Agreement, or the <br />Indenture or questioning the due organization of the City, <br />or the powers or authority of the City to issue the Bonds <br />and undertake the transactions contemplated hereby. <br /> <br /> (b) The execution, delivery and performance of the <br />City's obligations under the Bonds, the Indenture, the Bond <br />Purchase Agreement, and the Loan Agreement do not and will <br />not violate any order against the City of any court or other <br />agency of government, or any indenture, agreement or other <br />instrument to which the City is a party or by which it or <br />any of its property is bound, or be in conflict with, result <br />in a breach of, or constitute (with due notice or lapse of <br />time or both) a default under any such indenture, agreement <br />or other instrument. <br /> <br /> (c) The Bonds shall not be payable from or a charge <br /> upon any funds of the City other than amounts payable <br /> pursuant to the Loan Agreement and moneys in the funds and <br /> accounts held by the Trustee which are pledged, to the <br /> payment thereof; the City shall not be subject to any <br /> liability thereon; no owners of the Bonds shall ever have <br /> the right to compel the exercise of the taxing power of the <br /> City to pay any of the Bonds or the int~ rest thereon or to <br /> enforce payment thereof against any property of the City; <br /> the Bonds shall not constitute a general or moral obligation <br /> of the City or a charge, lien or encumbrance, legal or <br /> equitable, upon any property of the City (other than the <br /> interest of the City in the Loan Repayments to be made by <br /> the Company under the Loan Agreement); and each Bond issued <br /> under the Indenture shall recite that such Bond, including <br /> interest thereon, shall not constitute or give rise to a <br /> charge against the general credit or taxing powers of the <br /> City. <br /> <br /> 4. Approval and Execution of Documents. The forms of Loan <br />Agreement, Indenture, and Bond Purchase Agreement are approved. <br />The Bonds, Loan Agreement, Indenture, and Bond Purchase Agreement <br />are authorized to be executed in the name and on behalf of the <br />City by the Mayor and the City Administrator, or executed or <br />attested by other officers of the City, in their discretion and <br />at such time, if any, as such officers may deem appropriate, in <br />substantially the form on file, but with such changes therein as <br />may be approved by the officers executing the same, which <br />approval shall be conclusively evidenced by the execution <br />thereof. <br /> <br />1151887.2 <br /> <br />3 <br /> <br /> <br />