Laserfiche WebLink
n <br />5 <br />of mortgage and mortgage notes, the pledge of which shall <br />secure the Notes, the form of the Official Statement respec- <br />ting the Notes, and miscellaneous materials relating to the <br />authorization of the Notes and, in general principle, hereby <br />approves the same and authorizes the Corporation to adopt and <br />execute the same in substantially the form here presented and <br />all other documents necessary and proper to carry out the <br />purposes herein; provided, however, that the Notes approved <br />hereby must be issued within 60 days of the effective date of <br />this Resolution or approval of authorization of such docu- <br />ments by the Chairman of the Authority acting on behalf of <br />the Authority as provided min this Section 5; and provided <br />furthe_ that the Chairman of the Authority is authorized to <br />give final approval a,_nd authorization of such documents in <br />their =final form on behalf of the Authority. <br />SECTION 6. It is hereby further found and determined <br />that tre issuance of the Notes and the Bonds by the Corpora- <br />tion pursuant to the Note Indenture and the Bond Indenture <br />will serve to enable the Corporation to carry out its plan <br />and are hereby approved, provided that each of the notes and <br />Bonds shall expressly recite that: <br />Neither the State of Indiana, the City of South <br />Bend, The Housing Authority of the City of South <br />Bend, Indiana, the County of St. Joseph nor any <br />other political subdivision or body corporate and <br />pcliti�- _-of-the -State of: Indiana, = -shall . in- .1:any -event `- -- <br />be liable for the payment of principal of,. premium, <br />if any, or interest on the Bonds (or Notes as the <br />case may be) or for the performance of any pledge,. <br />obligation or agreement of any kind whatsoever of <br />the Corporation, and none of the Bonds nor any <br />of the Corporation's agreements or obligations <br />shall be construed to constitute an indebtedness <br />of the State of Indiana, the City of South Bend, <br />The Housing Authority of the City of South Bend, <br />Indiana, the County of St. Joseph or any other <br />political subdivision or body corporate and poli- <br />tic of the State of Indiana, within the meaning <br />oJE any constitutional or statutory provision. <br />SECTION 7. The Board of Commissioners of the Authority <br />hereby approve and consent to the determinaton to be made by <br />HUD that the Corporation constitutes an "agency" or "instru- <br />mentality" and a "public housing agency" solely within, the <br />