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nature, whether at common law or in equity, or by statute or by constitution or otherwise, of any
<br /> such member, director, or officer or attorney, as such, to respond by reason of any act or omission
<br /> on his or her part or otherwise for, directly or indirectly, the payment for or to the City or any
<br /> receiver thereof, or for or to any owner or holder of the Bonds, or otherwise, of any sum that may
<br /> remain due and unpaid upon the Bonds hereby secured or any of them, shall be expressly waived
<br /> and released as a condition of and consideration for the execution and delivery of the Financing
<br /> Agreement and the issuance, sale and delivery of the Bonds
<br /> SECTION XIV. No Liability. No stipulation, obligation or agreement herein
<br /> contained or contained in the Financing Documents, the Bonds or in any other agreement or
<br /> document executed on behalf of the City shall be deemed to be a stipulation, obligation or
<br /> agreement of any member of the Common Council, or any officer, agent or employee of the City
<br /> in his or her individual capacity, and no such member of the Common Council, officer, agent or
<br /> employee shall be personally liable on the Bonds or be subject to personal liability or
<br /> accountability by reason of the issuance thereof.
<br /> SECTION XV. Severability. If any section, paragraph or provision of this
<br /> Ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or
<br /> unenforceability of such section, paragraph or provision shall not affect any of the remaining
<br /> provisions of this Ordinance.
<br /> SECTION XVI. Open Meetings. It is hereby determined that all formal
<br /> actions of the Common Council relating to the adoption of this Ordinance were taken in one or
<br /> more open meetings of the Common Council, that all deliberations of the Common Council and
<br /> of its committees,if any, which resulted in formal action, were in meetings open to the public, and
<br /> that all such meetings were convened, held and conducted in compliance with applicable legal
<br /> requirements, including Indiana Code 5-14-1.5, as amended.
<br /> SECTION XVII. Further Authorizations. The Mayor,the Clerk and any other
<br /> officer of the City are hereby authorized and directed, in the name and on behalf of the City, to
<br /> execute, attest and deliver such further instruments and documents, and to take such further
<br /> actions, in the name of the City as in their judgment shall be necessary or advisable in order fully
<br /> to consummate the transactions described herein and carry out the purposes of this Ordinance, and
<br /> any such documents heretofore executed and delivered and any such actions heretofore taken, be,
<br /> and hereby are, ratified and approved.
<br /> SECTION XVIII. Declaration of Official Intent. The Common Council hereby
<br /> declares its official intent, to the extent permitted by law, to issue the Bonds in an amount not to
<br /> exceed the maximum aggregate principal amount authorized herein, and to reimburse costs of the
<br /> Project consisting of the expenditures from proceeds of the sale of such Bonds.
<br /> SECTION XIX. Ratification of Actions. All acts of the officers of the City
<br /> which are in conformity with the purpose and intent of this Ordinance and in the furtherance of
<br /> the issuance of the Bonds and the execution, delivery and performance of the documents and
<br /> agreements authorized hereby are in all respects ratified, approved and confirmed.
<br /> SECTION XX. No Conflict. Any ordinances, resolutions or orders or parts
<br /> thereof in conflict with this Ordinance are to the extent of such conflict hereby repealed.
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