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<br />subdivisions, and that the Bonds, including <br />interest thereon, are payable solely from the <br />revenues pledged to the payment thereof; and the <br />Bonds shall not constitute a debt of the City or <br />its political subdivision within the meaning of <br />any constitutional or statutory limitation. <br />7. The City hereby elects to have Section <br />142(d)(1)(B) of the Internal Revenue Code of 1986, as amended <br />(requiring that 40 percent or more of the rental units in the <br />Project be occupied by tenants whose income is 60 percent or <br />less of area median gross income (adjusted for family size)) <br />apply to the Bonds and to the Project. <br />8. Subject to the approval of the City Attorney and <br />the provisions of paragraph 12 hereof, the forms of the <br />Agreements and exhibits thereto and all other documents <br />described in paragraph 5 hereof are approved substantially in <br />the form submitted and on file in the office of the City <br />Manager, with such subsequent changes as may be approved by <br />the City and the City Attorney. The Agreements, in <br />substantially the form submitted, are directed to be executed <br />in the name and on behalf of the City by the Mayor and the <br />City Manager. Any other documents and certificates necessary <br />to the transaction herein described shall be executed by the <br />appropriate City officers. Copies of all of the documents <br /> <br />10 <br />