Agenda - Council - 11/25/1981 - Laserfiche WebLink

Home

I I I I I I I I I I I I I I I I I I I the benefit of the Lender; provided that in any event, the agree- ment of the City to perform the covenants and other provisions contained in the Note, the Loan Agreement and the Disbursing Agree- ment shall be subject at all times to the availability of revenues under the Loan Agreement sufficient to pay all costs of such per- formance or the enforcement thereof, and neither the City nor its officers or agents shall not be subject to any personal or pecuniary liability thereon. ARTICLE FIVE MISCELLANEOUS Section 501. Effect of Partial Invalidity If any provision of this Resolution shall be held or deemed to be or shall, in fact, be inoperative or unenforceable as applied in any particular case in any jurisdiction or jurisdic- tions or in all jurisdictions or in all cases because it conflicts with any provision~ or any constitution or statute or rule or public policy or for any other reason, such circumstances shall not have the effect of rendering the provision in question inopera- tive or unenforceable in any other case or circumstance or of rendering any other provision or provisions herein contained invalid, inoperative or unenforceable to any extent whatever. The invalidity of any one or more phrases, sentences, clauses or para- graphs in this Resolution contained shall not affect the remaining portions of this Resolution or any part thereof. Section 502. Authentication'of Transcript The officers of the City are directed to furnish to Bond Counsel certified copies of this Resolution and all documents referred to herein, and affidavits or certificates as to all other matters which are reasonably necessary to evidence the validity of the Note. All such certified copies, certificates and affidavits, including any heretofore furnished, shall constitute recitals of the City as to the correctness of all statements contained therein. Section 503. Registration'of Resolution The City Clerk-Treasurer is authorized and directed to cause a copy of this Resolution to be filed with the County Auditor of Anoka County, and to obtain from said County Auditor a certificate that the Note as a bond of the City has been duly entered upon his bond register. Section 504. Authorization'to'Execute~A~reements The forms of the proposed Loan Agreement and assignment thereof, the Disbursing Agreement, the Mortgage and the Assignment of Leases and Rents are hereby approved in substantially the form 15