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and substance acceptable to them and consistent with the terms and conditions set forth in the <br /> Ordinance, with such to be conclusively evidenced by their execution thereof. <br /> SECTION 8. This Commission approves the form of the Ordinance presented at this <br /> meeting and recommends the adoption of the Ordinance by the Council. The provisions of such <br /> Ordinance,if and when adopted, and the Financing Agreements shall constitute a contract binding <br /> between the City and the holder or holders of the Bonds and after the issuance of said Bonds, the <br /> special resolution shall not be repealed or amended, in any respect which would adversely affect <br /> the right of such holder or holders so long as said Bonds or the interest thereon remains unpaid. <br /> SECTION 9. Any officer of this Commission is hereby authorized and directed, in the <br /> name and on behalf of this Commission, to execute any and all other agreements, documents and <br /> instruments,perform any and all acts, approve any and all matters, and do any and all other things <br /> deemed by such person to be necessary or desirable in order to carry out and comply with the <br /> intent, conditions and purposes of this resolution (including the preambles hereto and the <br /> documents mentioned herein), the Project, the issuance and sale of the Bonds and any such <br /> execution, performance, approval or doing of other things heretofore effected be, and hereby is, <br /> ratified and approved. <br /> SECTION 10. This Commission 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, does <br /> not exceed the amount necessary for the financial feasibility of the Project and its viability as a <br /> qualified housing project throughout the credit period for the Project. In making the foregoing <br /> determination, this Commission has relied upon representations of the Borrower. The foregoing <br /> determination shall not be construed to be a representation or warranty by this Commission as to <br /> the feasibility or viability of the Project. In reliance upon the representations of the Borrower, it <br /> is hereby found and determined that the Project satisfies the requirements for the allocation of a <br /> housing credit dollar amount under the Indiana Housing and Community Development Authority's <br /> qualified allocation plan. <br /> SECTION 11. The Secretary of this Commission shall transmit this resolution, together <br /> with two (2) copies of the forms of the Financing Agreements and the Ordinance approved by this <br /> Resolution,to the Office of the Clerk for presentation to the Council with the recommendation that <br /> the Council approve the forms of the FinancingAgreements and adopt the proposed Ordinance <br /> Pp �' <br /> hereby recommended to the Council. The provisions of such Ordinance,if and when adopted, and <br /> the Financing Agreements shall constitute a contract binding between the City and the holder or <br /> holders of the Bonds and after the issuance of said Bonds, the special resolution shall not be <br /> repealed or amended, in any respect which would adversely affect the right of such holder or <br /> holders so long as said Bonds or the interest thereon remains unpaid. <br /> SECTION 12. This resolution shall be in full force and effect upon adoption. <br /> (Signature page follows.) <br /> 5 <br />