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<br />" <br /> <br />further subject to final approval by this Council, Company, and the <br />purchaser of the Bonds as to the ultimate details of the financing <br />of the Project. <br /> <br />4. The Mayor and staff of the City are hereby authorized and <br />directed to submit a request for allocation of federal bonding <br />authority for the Project. <br /> <br />5. Company has agreed and it is hereby determined that any <br />and all costs incurred by the City in connection with the financing <br />of the project, including legal fees, whether or not the Project is <br />carried to completion and whether or not volume cap is obtained <br />will be paid by Company. <br /> <br />6. Nothing in this resolution or in the documents prepared <br />pursuant hereto shall authorize the expenditure of any municipal <br />funds on the proj ect other than the revenues deri ved from the <br />Project or otherwise granted to the City for this purpose. The <br />Bonds shall not constitute a charge, lien or encumbrance, legal or <br />equitable, upon any property or funds of the City except the <br />revenue and proceeds pledged to the payment thereof, nor shall the <br />City be subject to any liability thereon. The holder of the Bonds <br />shall never have the right to compel any exercise of the taxing <br />power of the City to pay the outstanding principal on the Bonds or <br />the interest thereon, or to enforce payment thereof against any <br />property of the City. The Bonds shall recite in substance that the <br />Bonds including interest thereon, are payable solely from the <br />revenue and proceeds pledged to the payment thereof. The Bonds <br />shall not constitute a debt of the City within the meaning of any <br />constitutional or statutory limitation. <br /> <br />7. In anticipation of the issuance of the Bonds to finance <br />all or a portion of the project, and in order that completion of <br />the Project will not be unduly delayed when approved, Company is <br />hereby authorized to make such expenditures and advances toward <br />payment of that portion of the costs of the project as Company con- <br />siders necessary, including the use of interim, short-term <br />financing, subject to reimbursement from the proceeds of the Bonds <br />if and when delivered but otherwise without liability on the part <br />of the City. <br /> <br />8. City staff is hereby authorized and directed to prepare <br />and publish a Notice of Public Hearing with respect to the project. <br /> <br />772890. 1 <br /> <br />3 <br />