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87-062
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Resolutions 1987
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87-062
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8/8/2005 3:45:03 PM
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<br />Section 5. In case anyone or more of the provisions of <br />this resolution, the Issuer Documents or any of' the Bonds <br />remarketed hereunder shall for any reason be held to be <br />illegal or invalid, such illegality or invalidity shall not <br />affect any other provision of this resolution, Issuer Docu- <br />ments or the Bonds, but this resolution, the Issuer Docu- <br />ments and the Bonds shall be construed as if such illegal or <br />invalid provision had not been contained therein. <br /> <br />- <br />Section 6. The'officers of the Issuer, attorneys, engi- <br />neers and other agents or employees of the Issuer are hereby <br />authorized to do all acts and things required of them by or <br />in connection with this resolution and the Issuer Documents <br />for the full, punctual and complete performance of all the <br />terms, covenants and agreements contained in the Bonds, the <br />Issuer Documents and this resolution, including without <br />limitation the execution and delivery of all supplementary <br />certificates arid documents necessary or adv1.sable in the <br />opinion of Bond Counsel in connection with the remarketing <br />of the Bonds. <br /> <br />Section 7. The Issuer hereby consents to the distribu- <br />tion of the Offering Memorandum prepared for the Bonds by or <br />on behalf of the Remarketing Agent in connection wi th the <br />remarketing and sale of the Bonds; however, the Issuer has <br />not participated in the preparation of the Offering Memoran- <br />dum and assumes no responsibility for the accuracy or com- <br />pleteness thereof, or otherwise. <br /> <br />Section 8. Notwithstanding anything contained herein or <br />in the Bonds, the Issuer Documents or any other documents <br />execu ted and delivered wi th the remarketing of the Bonds, <br />the Bonds, the principal thereof, premium thereon, if any, <br />and interest thereon and the Issuer Documents shall not <br />constitute any indebtedness of the Issuer within the meaning <br />of any constitutional or statutory limitation.and shall not <br />constitute or give rise to a pecuniary liability of the <br />Issuer or a charge against its general credi t or taxing <br />powers and shall not constitute a charge, lien, or encum- <br />brance, legal or equitable, upon any property of the Issuer <br />(except the Indenture) and no holder of any of the Bonds <br />shall ever have the right to compel any exercise of the <br />taxing power of the Issuer to pay the Bonds or interest <br />thereon or to enforce payment thereof against any property <br />of the Issuer other than those funds pledged pursuant to the <br />Indenture. The agreement of the Issuer to perform the cove- <br />nants and other provisions contained in this resolution or <br />the Bonds or the Issuer Documents shall be subject at all <br />times to the availability of revenues furnished pursuant to <br />the Indenture sufficient to pay all costs of such perform- <br />ance or the enforcement thereof, and the Issuer, nor any of <br />its officers, employees, or agents shall be subject to any <br />personal or pecuniary liability thereon. <br /> <br />- 3 - <br />
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