Issuance of $650,000.00 Economic Development Revenue Bonds (East Race Housing Project)

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Ordinance and identified herein as the "Agreement" and to keep such Agreement on file. Said Agreement contains pro- visions authorized and permitted by the Act. Section 10 . General: The Mayor and Clerk be, and they each hereby are , authorized and directed, in the name of and on behalf of the City to execute any and all instruments , perform any and all acts , approve any and all matters , and do any and all things deemed by them, or any of them, to be necessary or desirable in order to carry out the purposes of this Bond Ordinance (including the preambles hereto) , the acquisition and construction of the Project by the User, the issuance and sale of the Bonds , and the securing of the Bonds under the Indenture. Section 11 . Copies : Two copies of each of the above described Loan Agreement and Indenture of Trust are on file in the office of the City Clerk for Public Inspection. Section 12. Effective Date: This Bond Ordinance shall be in full force and effect from and after its passage and approval as provided by law. Section 13. Binding Contract: The provisions of this ordinance and the aformentioned documents shall constitute a contract binding between the City and the holders of said Economic Development Revenue Bonds , and after the issuance of said Economic Development Revenue Bonds this Ordinance shall not be repealed or amended in any respect which would ad- versely affect the rights of said holders so long as any of the principal of said Economic Development Revenue Bonds or the interest thereon remains unpaid. All ordinances or parts of ordinances in conflict herewith are hereby repealed. i Counc' an