Resolution - #79-47a - 06/11/1979

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5.3. Mutilated, Lost and Destroyed Note. In case the Note shall become mutilated or be destroyed or lost, the- City shall cause to be executed and delivered a new Note of like outstanding principal amount and tenor in exchange and substitution for and upon cancellation of the mutila- ted Note, or in lieu of and in substitution for such Note destroyed or lost, upon.the Holder's paying the reasonable expenses and charges of the City in connection therewith, and in case'the Note is destroyed or lost, its filing with the City evidence satisfactory to it of such destruction or loss. 5.4. Assignment. The Note may be assigned by the Holder thereof, from time to time, by endorsement thereon'or by separate written instrument, provided that notice of any such assignment shall be given in writing to the City and the Borrower. 5.5. Deliverz and Use of Proceeds. Prior to delivery of the Note, the documents referred to in Section 3.3 hereof shall be completed and executed in form and substance as approved by the City Attorney. The City shall execute and deliver the Note to the Lender, together with a duly cer- tified copy of this Resolution, original, executed coun- terparts of the Loan Agreement and the Pledge/Disbursement Agreement, and such closing certificates, opinions and related documents as are required by bond counsel. Upon delivery of the Note and the above items to the Lender, the Lender shall, on behalf of the City, dis- burse to the Borrower the proceeds of the Note in reim- bursement of Project Costs pursuant to the provisions of the Loan Agreement and the Pledge/Disbursement Agreement, and the proceeds so disbursed shall be deemed to have been disbursed for the benefit of the City. The Lender or the Borrower shall provide the City with a full accounting of all funds disbursed for Project Costs. Section 6. Limitations of the City's O~igations. Not- withstanding anything contained in the Note, the Loan Agreement, the Pledge/Disbursement Agreement, or any other documents referred to in Section 3.3, the Note shall not be payable from nor charged upon any funds of the City other than the revenue under the Loan A~reement pledged to. the payment thereof, nor shall the City be subject to any liability thereon. No Holder or Holders of the Note shall ever have the right to compel any exercise of the taxing power of the City to pay the Note or the interest thereon, nor to enforce payment thereof against any property of the City except the Project, or portions thereof, mortgaged or