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including without limitation its Commission, either directly or through the City, or otherwise, for
<br /> the payment for or to the City or any receiver thereof or for or to any holder of the Bonds secured
<br /> thereby, or otherwise, of any sum that may remain due and unpaid by the City upon any of the
<br /> Bonds. Any and all personal liability of every nature, whether at common law or in equity, or by
<br /> statute or by constitution or otherwise, of any such member, director, or officer or attorney, as
<br /> such, to respond by reason of any act or omission on his or her part or otherwise for, directly or
<br /> indirectly, the payment for or to the City or any receiver thereof, or for or to any owner or holder
<br /> of the Bonds, or otherwise, of any sum that may remain due and unpaid upon the Bonds hereby
<br /> secured or any at them, shall be expressly waived and released as a condition of and
<br /> consideration for the execution and delivery of the Financing Agreements and the issuance, sale
<br /> and delivery of the Bonds.
<br /> SECTION 10. If any section, paragraph or provision of this Ordinance shall be held to
<br /> be invalid or unenforceable for any reason, the invalidity or unenforceability of such section,
<br /> paragraph or provision shall not affect any of the remaining provisions of this Ordinance.
<br /> SECTION 11. All ordinances, resolutions and orders or parts thereof, in conflict with
<br /> the provisions of this Ordinance are, to the extent of such conflict, hereby repealed.
<br /> SECTION 12. It is hereby determined that all formal actions of the Council relating to
<br /> the adoption of this Ordinance were taken in one or more open meetings of the Council, that all
<br /> deliberations of the Council and of its committees, if any, which resulted in formal action, were
<br /> in meetings open to the public, and that all such meetings were convened, held and conducted in
<br /> compliance with applicable legal requirements, including Indiana Code 5-14-1.5, as amended.
<br /> SECTION 13. The Mayor, the Controller, the Clerk and any other officer of the City
<br /> are hereby authorized and directed, in the name and on behalf of the City, to execute, attest and
<br /> deliver such further instruments and documents, and to take such further actions, in the name of
<br /> the City as in their judgment shall be necessary or advisable in order fully to consummate the
<br /> transactions described herein and carry out the purposes of this Ordinance, and any such
<br /> documents heretofore executed and delivered and any such actions heretofore taken, be, and
<br /> hereby are, ratified and approved.
<br /> SECTION 14. This Council hereby re-affirms its official intent, to the extent permitted
<br /> by law, to issue the Bonds in one or more series or issues, not to exceed the maximum aggregate
<br /> principal amount authorized herein, and to reimburse costs of the Project consisting of the
<br /> Expenditures from proceeds of the sale of the Bonds.
<br /> SECTION 15. This Council finds and determines that the amount of tax credits to be
<br /> allocated to the Project under Section 42 of the Internal Revenue Code of 1986, as amended,
<br /> does not exceed the amount necessary for the financial feasibility of the Project and its viability
<br /> as a qualified housing project throughout the credit period for the Project. In making the
<br /> foregoing determination, this Council has relied upon representations of the Borrower. The
<br /> foregoing determination shall not be construed to be a representation or warranty by this Council
<br /> as to the feasibility or viability of the Project. In reliance upon the representations of the
<br /> Borrower, it is hereby found and determined that the Project satisfies the requirements for the
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