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(c) A (d) (e) 6. ( f) sonnel to other areas and thus preserving the economic and human resources needed as a base for providing governmental services and facilities; and increasing the tax base of the City and the county and school district in which the Project is located. The Project has been approved by preliminary resolu- tions of this Council duly adopted ~t this meetinq after a public hearingAheld as required by the .provisions of the Act. It is desirable that the Note, in the principal amount of $940,000, be issued by the City upon the terms set forth herein and in the Loan Agreement, and that the rights of the City under the Loan Agreement be assigned to the Lender pursuant to the Loan Assignment as security for the payment of principal of, premium, if any, and interest on the Note. There is no ligitation pending to which the City is a party or, to the best of its knowledge threatened against the City, relating to the Project or to the Note, the Loan Agreement or the Construction Loan Agreement, or questioning the organization of the City or its power or authority to issue the Note or execute and deliver the Loan Agreement, the Loan Assignment or the Construction Loan Agreement. Nothing has come to the attention of the City Council to indicate that any member of the City Council (i) has a direct or indirect interest in the Project, the Loan Agreement, the Construction Loan Agreement, the Loan Assignment or the Note, (ii) owns any capital stock of or other interest in the Project, the Borrower or the Lender, (iii) is an officer or director of the Borrower, (iv) will be involved in supervising the completion of the Project on behalf of the Borrower, or (v) will receive any commission, bonus or other remuneration for or in respect of the Project, the Loan Agreement or the Note. 4.) Approval and Execution of Documents. The forms of the Loan Agreement, Loan Assignment, Mortgage, Assignment of Rents, Construction Loan Agreement, the Securitv Aqreement. the Guarantors' Security Agreement and Guaranty described in Paragraph 2, above, are hereby approved. The Loan Agreement, Loan Assignment, and Construction Loan Agreement shall be executed in the name and on behalf of the City by its Mayor, the City Manager and City Clerk, or by other appropriate officers of the City authorized to execute documents on their behalf, in substantially the form on file, but with all such changes therein, not inconsistent with the Act or other law, as may be approved by officers executing the same, which approval shall be conclusively evidenced by the execution thereof. Copies of. all documents shall be delivered and filed as provided therein. The 3.