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<br />Section 3. For the purpose of financing the Program there is hereby <br />authorized the issuance of the Bonds. The Bonds shall bear interest at such rates, <br />shall be in such denomination, shall be numbered, shall be dated, shall mature, shall <br />be subject to redemption prior to maturity, shall be in such form, and shall have <br />such other details and provisions as are prescribed by the Indenture. <br /> <br />Section 4. The Bonds shall be special obligations of the Issuer payable solely <br />from the revenues of the Program, in the manner provided in the Indenture. The <br />Bonds do not constitute an indebtedness, liability, general or moral obligation <br />(except to the extent of the trust estate pledged under the Indenture) or a pledge <br />of the faith and credit or any taxing power of the Issuer, the State of Minnesota, or <br />any political subdivision thereof. The Issuer hereby authorizes and directs the <br />Mayor of the Issuer (the "Mayor") and the City Administrator of the Issuer (the <br />"Administrator") to execute under the corporate seal of the Issuer, the Agreements, <br />and to deliver the Agreements to said Trustee, and hereby authorizes and directs <br />the execution of the Bonds in accordance with the Indenture, and hereby provides <br />that the Indenture shall provide the terms and conditions, covenants, rights, <br />obligations, duties, and agreements of the bondholders, the Issuer, and the Trustee <br />as set forth therein. <br /> <br />All of the provisions of the Agreements, when executed as authorized herein, <br />shall be deemed to be a part of this Resolution as fully and to the same extent as if <br />incorporated verbatim herein and shall be in full force and effect from the date of <br />execution and delivery thereof. The Agreements shall be substantially in the form <br />before the Issuer on the date hereof, and is hereby approved, with such changes as <br />shall be approved by the Mayor pursuant to this section, and with such necessary <br />and appropriate variations, omissions, and insertions as are not materially <br />inconsistent with such form and as the Mayor, in his discretion, shall determine; <br />provided that the execution thereof by the Mayor shall be conclusive evidence of <br />such determination. <br /> <br />Section 5. All covenants, stipulations, obligations, representations, and <br />agreements of the Issuer contained in this Resolution or contained in the Agreements <br />or other documents referred to therein shall be deemed to be the covenants, <br />stipulations, obligations, representations, and agreements of the Issuer to the full <br />extent authorized or permitted by law, and all such covenants, stipulations, <br />obligations, representations, and agreements shall be binding upon the Issuer. <br />Except as otherwise provided in this Resolution, all rights, powers, and privileges <br />conferred, and duties and liabilities imposed, upon the Issuer by the provisions of <br />this Resolution or of the Agreements or other documents referred to therein shall be <br />exercised or performed by the Issuer, or by such officers, board, body, or agency <br />as may be required or authorized by law to exercise such powers and to perform <br />such duties. No covenant, stipulation, obligation, representation, or agreement <br />herein contained or contained in the Indenture or other documents referred to above <br />shall be deemed to be a covenant, stipulation, obligation, representation, or <br />agreement of any officer, agent, or employee of the Issuer in that person's <br />individual capacity, and neither the Council of the Issuer nor any officer or <br />employee executing the Bonds shall be liable personally on the Bonds or be subject <br />to any personal liability or accountability by reason of the issuance thereof. <br /> <br />Section 6. Except as herein otherwise expressly provided, nothing in this <br />Resolution or in the Agreements, expressed or implied, is intended or shall be <br />construed to confer upon any person, firm, or corporation other than the Issuer, <br />the holders of the Bonds, and the Trustee any right, remedy, or claim, legal or <br />SNG17121 <br />0136-119 <br /> <br />3 <br />