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<br />payable thereunder, and be registered by the Note Registrar <br />in the name of the Lender or such transferee as may be des- <br />ignated by the Lender. <br /> <br />Section 6. Limitations of the City's Obligations. <br /> <br />6.01 Notwithstanding anything contained herein or in <br />the Note, the Agreement, the Pledge Agreement, or the Con- <br />struction Loan Agreement or any other documents referred to <br />in Section 3.03 hereof, the Note, the pr incipal thereof, <br />premium thereon, if any, and interest thereon and the Agree- <br />ment, the Pledge Agreement, and the Construction Loan Agree- <br />ment shall not constitute any indebtedness of the City <br />within the meaning of any constitutional or statutory limi- <br />tation and shall not constitute or give rise to a pecuniary <br />liability of the City or a charge against its general credit <br />or taxing powers and shall not constitute a charge, lien, or <br />encumbrance, legal or equi table, upon any property of the <br />City other than its interest in the Project, and no Owner of <br />the Note shall ever have the right to compel any exercise of <br />the taxing power of the City to pay the Note or the interest <br />thereon or to enforce payment thereof against any property <br />of the Ci ty other than its interest in the Project. The <br />agreement of the City to perform the covenants and other <br />provisions contained in this Resolution or the Note, the <br />Agreement, the Pledge Agreement, or the Construction Loan <br />Agreement and the other documents listed in Section 3.03 <br />hereof shall be subject at all times to the availability of <br />revenues furnished by the Borrower suff icient to pay all <br />costs of such performance or the enforcement thereof, and <br />nei ther the City nor any of its officers, employees, or <br />agents shall be subject to any personal or pecuniary lia- <br />bility thereon. <br /> <br />Section 7. City Representative. <br /> <br />7.01. The City Clerk-Treasurer and the City Manager of <br />the City are hereby designated and authorized to act on <br />behalf of the City as the City Representative and alternate <br />City Representative, respectively (as defined in the Agree- <br />men t) . <br /> <br />Adopted by the New Brighton City Council on December 19, <br />1985. <br /> <br />- 8 - <br />