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93-099
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93-099
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8/4/2005 12:48:00 PM
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<br />the covenants, stipulations, obligations and agreements of the Issuer to the full <br />extent authorized or permitted by law, and all such covenants, stipulations, <br />obligations and agreements shall be binding upon the Issuer. Except as otherwise <br />provided in this Resolution~ all rights, powers and privileges conferred and duties <br />and liabilities imposed upon the Issuer by the provisions of this Resolution or the <br />aforementioned documents shall be exercised or performed by such officers, board, <br />body or agency thereof as may be required or authorized by law to exercise such <br />powers and to perform such duties. <br /> <br />No covenant, stipulation, obligation or agreement herein contained or <br />contained in the aforementioned documents shall be deemed to be a covenant, <br />stipulation, obligation or agreement of any member of the City Council of the Issuer, <br />or any officer, agent or employee of the Issuer in that person's individual capacity, <br />and neither the City Council of the Issuer nor any officer or employee executing the <br />Bonds shall be liable personally on the Bonds or be subject to any personal liability <br />or accountability by reason of the remarketing thereof. . <br /> <br />No provision, covenant or agreement contained in the aforementioned <br />documents, the Bonds or in any other document related to the Bonds, and no <br />obligation therein or herein imposed upon the Issuer or the breach thereof, shall <br />constitute or give rise to any pecuniary liability of the Issuer or any charge upon <br />its general credit or taxing powers. In making the agreements, provisions, <br />covenants and representations set forth in such documents, the Issuer has not <br />obligated itself to payor remit any funds or revenues, other than funds and <br />revenues derived from the Loan Agreement, as amended pursuant to the Amendment <br />to Loan Agreement which are to be applied to the payment of the Bonds, as provided <br />therein and in the Amended and Restated Indenture. <br /> <br />6. The Issuer is not participating in the preparation of the Preliminary <br />Remarketing Memorandum relating to the Bonds (the "Preliminary Remarketing <br />Memorandum"), which Preliminary Remarketing Memorandum is expected to be <br />amended and completed to add certain pricing and other information (as amended and <br />completed, the "Remarketing Memorandum") and has made and will make no <br />independent investigation with respect to the information to be contained therein, <br />including the Appendices thereto, and the Issuer assumes no responsibility for the <br />sufficiency, accuracy or completeness of such information. Subject to the foregoing, <br />the Issuer hereby consents to the distribution and the use by Miller & Schroeder <br />Financial, Inc. in connection with the remarketing of the Bonds of the Preliminary <br />Remarketing Memorandum and the Remarketing Memorandum in the form on file with <br />Issuer. The Preliminary Remarketing Memorandum and the Remarketing Memorandum <br />are the sole materials consented to by the Issuer for use in connection with the <br />remarketing of the Bonds. <br /> <br />7. Except as herein otherwise expressly provided, nothing in this <br />Resolution or in the aforementioned documents expressed or implied, is intended or <br />shall be construed to confer upon any person or firm or corporation, other than the <br />Issuer or any owner of the Bonds remarketed under the provisions of this <br />Resolution, any right, remedy or claim, legal or equitable, under and by reason of <br />this Resolution or any provision hereof, this Resolution, the aforementioned <br />documents and all of their provisions being intended to be and being for the sole and <br />exclusive benefit of the Issuer and any Owners from time to time of the Bonds <br />remarketed under the provisions of this Resolution. <br /> <br />SNG56145 <br />NE116-107 <br /> <br />3 <br />
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