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financing agreements with the City with regard to the fore- <br />going prior to the issuance and delivery of any such revenue <br />bonds by the City. <br />3. That Notre Dame Credit Union intends during the term <br />of any such financing agreements to cause the Project to be <br />used or occupied primarily for use as an office building. <br />C. It is further recognized and intended between the parties <br />hereto as follows: <br />1. That the revenue bonds to be issued by the City will <br />never constitute an indebtedness of the City or a loan of the <br />credit thereof within the meaning of any constitutional or <br />statutory provision, and such fact shall be plainly stated on <br />the face of each of said bonds. No holder of any of said <br />bonds shall ever have the right to compel any exercise of the <br />taxing power of the City to pay said bonds or the interest <br />thereon. The principal of, and the premium, if any, and <br />interest on, such revenue bonds to be issued to finance the <br />cost of the Project shall be secured by a pledge to a trustee <br />acting under an indenture of trust for the benefit of the <br />holders of said bonds, or by a pledge directly to the holders <br />of said bonds, of the revenues and income derived by the City <br />from the Project and may be further secured by a lien on the <br />Project, and shall be additionally secured by a pledge to <br />said trustee or the holders of said bonds of the aforesaid <br />financing agreements between the City and Notre Dame Credit <br />Union. <br />- 4 - <br />