Authorzing Issuance of $2,500,000 Economic Development Revenue Bonds East Race Commercial

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V , moneys , if any, accruing to the Trustee for the benefit of the bondholders . The Loan Agreement shall equally and ratably secure all outstanding Bonds , except that so long as there is no event of default under the Agreement , payments by Brademas shall be used by the Trustee to make like payment of principal of, or premium or interest on, the Bonds . By the Indenture , the City will assign to the Trustee the City' s rights under the Agreement , including the right of the City to receive payments thereunder, all as security for the payment of the Bonds . The Bonds will be secured as provided in the Agreement and Indenture and the terms of said instruments are adopted herein by reference and by approval of the instruments . The Loan Agreement and documents executed thereunder will constitute the sole security for the Bonds . The Bonds and the interest thereon shall be a valid claim of the respective holders only against the Bond Fund created under the Indenture and other moneys held by the Trustee. The City will have no ownership interest in the Project. The Bonds do not and shall never constitute an indebted- ness of, or a charge against the general credit or taxing power of the City. Section 6 . Additional Bonds : The City may authorize the issuance of Additional Bonds upon the terms and con- ditions provided in the Indenture and the Agreement. All Additional Bonds shall be of the same rank as the original Bonds , but shall bear such date or dates , bear such interest rate or rates , have such maturity dates , redemption dates and redemption premiums , and be issued at such prices as shall be approved in writing by the City and the User. Prior to the issuance , sale or delivery of any such Additional Bonds , the Common Council shall adopt and approve nrainance or