|
(c) No agreements or provisions contained in this Indenture, or any agreement,
<br /> covenant, or undertaking by the Issuer in connection with the Project or the issuance, sale, and/or
<br /> delivery of the Bonds shall give rise to a charge against the general credit of the Issuer, or shall
<br /> obligate the Issuer financially in any way, except as may be payable from the revenues pledged
<br /> hereby for the payment of the Bonds and their application as provided in this Indenture. No failure
<br /> of the Issuer to comply with any term, covenant, or agreement contained in the Bonds, this
<br /> Indenture or the Loan Agreement, or in any document executed by the Issuer in connection with
<br /> the Project, the School Facilities or the issuance and sale of the Bonds, shall subject the Issuer to
<br /> liability for any claim for damages, costs, or other financial or pecuniary charge, except to the
<br /> extent the same can be paid or recovered from the revenues pledged for the payment of the Bonds
<br /> or other revenues derived under the Loan Agreement. Nothing herein shall preclude a proper party
<br /> in interest from seeking and obtaining,to the extent permitted by law, specific performance against
<br /> the Issuer for any failure to comply with any term, condition, covenant, or agreement herein;
<br /> provided that no costs, expenses, or other monetary relief shall be recoverable from the Issuer,
<br /> except as may be payable from the revenues pledged under this Indenture for the payment of the
<br /> Bonds or other revenue derived under the Loan Agreement. No provision, covenant, or agreement
<br /> contained herein,or any obligations imposed upon the Issuer,or the breach thereof, shall constitute
<br /> an indebtedness of the Issuer within the meaning of any State constitutional or statutory limitation
<br /> or shall constitute or give rise to a charge against the Issuer's general credit. In making the
<br /> agreements,provisions,and covenants set forth in this Indenture,the Issuer has not obligated itself,
<br /> except with respect to the application of the revenues pledged in this Indenture for the payment of
<br /> the Bonds or other revenues derived under the Loan Agreement.
<br /> (d) Nothing contained in this Indenture shall in any way obligate the Issuer to pay any
<br /> debt or meet any financial obligations to any Person at any time except from money received under
<br /> the provisions of this Indenture or from the exercise of the Issuer's rights hereunder. Nothing
<br /> contained in this Bond Indenture shall in any way obligate the Issuer to pay such debts or meet
<br /> such financial obligations from money received for the Issuer's own purposes. The Bonds secured
<br /> by this Indenture do not now and shall never constitute a general obligation or debt of the Issuer
<br /> or a pledge of the faith and credit of the State, or any other political subdivision thereof, and each
<br /> covenant and undertaking by the Issuer in this Indenture and in the Bonds to make payments is not
<br /> a general obligation or debt of the Issuer or a pledge of the faith and credit of the State, but is a
<br /> special, limited obligation payable solely from the Trust Estate pledged for their payment in
<br /> accordance with this Indenture.
<br /> SECTION 12.5. Notices. Any notice, request, complaint, demand, communication, or
<br /> other paper shall be sufficiently given and shall be deemed given when delivered or mailed by
<br /> registered or certified mail unless otherwise indicated, postage prepaid, by Electronic Means (in
<br /> accordance with Section 9.1(r) hereof), or by confirmed telecopy, addressed as follows:
<br /> If to the Issuer: City of Ramsey, Minnesota
<br /> 7550 Sunwood Drive NW
<br /> Ramsey, MN 55303
<br /> Attn: City Administrator
<br /> Email: bha_enkcityoframse.
<br /> 78
<br /> 735810810
<br />
|