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Bill No. 67-22 Ordinance Authorizing Fund for SB Choc. Dest. Pr.
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Bill No. 67-22 Ordinance Authorizing Fund for SB Choc. Dest. Pr.
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of such Series 2022 Note to the Borrower, payment for which will be made in the manner set forth <br />in the Loan Agreement. The Mayor, Controller and Clerk may, by their execution of the Loan <br />Agreement and any other documents requiring their signatures and imprinting of their facsimile <br />signatures thereon, approve any and all such changes therein and also in the Loan Agreement and <br />any other documents without further approval of this Common Council or the Commission if such <br />changes do not affect terms set forth in Sections 27(a)(1) through and including (a)(10) of the Act. <br />SECTION V. The provisions of this ordinance and the Loan Agreement shall constitute a <br />contract binding between the City and the Borrower. <br />SECTION VI. The Mayor, Controller or Clerk, or any other officer having responsibility with <br />respect to the making of the Loan, evidenced by the Series 2022 Note, are authorized and directed, <br />alone or in conjunction with any of the foregoing, or with any other officer, employee, consultant <br />or agent of the City, to deliver a certificate for inclusion in the transcript of proceedings for the <br />Series 2022 Note, setting forth the facts, estimates and circumstances and reasonable expectations <br />pertaining to the use of the Loan as of the funding date thereof. <br />SECTION VII. No recourse under or upon any obligation, covenant, acceptance or agreement <br />contained in this ordinance, the Loan Agreement or under any judgment obtained against the City, <br />including without limitation the Commission or Redevelopment Commission, or by the <br />enforcement of any assessment or by any legal or equitable proceeding by virtue of any <br />constitution or statute or otherwise, or under any circumstances, under or independent of the Loan <br />Agreement, shall be had against any member, director, or officer or attorney, as such, past, <br />present, or future, of the City, including without limitation the Commission or Redevelopment <br />Commission, either directly or through the City, or otherwise, for the payment for or to the City <br />of any sum that may remain due and unpaid by the City upon any of such Series 2022 Note. Any <br />-5- <br />
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