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<br /> <br /> <br />4 <br />incidental expenses on account of the issuance of the Bonds. The Bonds shall be lettered and <br />numbered R-1 upward. The Bonds shall be special and limited obligations of the City, payable <br />solely from the trust estate created and established under the Indenture (the “Trust Estate”), which <br />Trust Estate shall consist of the funds and accounts created under the Indenture together with a <br />pledge by the Redevelopment Commission of the Riverwalk Allocation Area TIF Revenues, <br />subject to the terms and conditions of a Pledge Agreement between the Redevelopment <br />Commission and the City (the “Pledge Agreement”), and, to the extent the Riverwalk Allocation <br />Area TIF Revenues are insufficient for the payments of the principal of and interest due on the <br />Bonds, a pledge by the Developer to pay such amounts (the “Minimum Taxpayer Payment”) in <br />order to make such principal and interest payments during such period as described in the <br />Development Agreement and in a Taxpayer Agreement between the City, the Redevelopment <br />Commission and the Developer (the “Taxpayer Agreement”) and, in the event the Riverwalk <br />Allocation Area TIF Revenues and the Minimum Taxpayer Payments are insufficient, from loan <br />payments (each a “Loan Payment”) made by the Developer under the Loan Agreement, and upon <br />such terms and conditions as otherwise provided in the Financing Documents and this Ordinance. <br />The Bonds and the interest thereon do not and shall never constitute an indebtedness of, or charge <br />against the general credit of, or taxing power of the City, but shall be special and limited <br />obligations of the City, payable solely from the Riverwalk Allocation Area TIF Revenues pursuant <br />to the Pledge Agreement and, if necessary, the Minimum Taxpayer Payment as described in the <br />Taxpayer Agreement and the Financing Documents and the Loan Payment as described in the <br />Loan Agreement. <br />The Mayor of the City (the “Mayor”) and the Clerk (the “Clerk”) are hereby authorized to <br />approve with the advice of counsel, a Bond Purchase Agreement (the “Bond Purchase <br />Agreement”) with the Developer or the Developer’s designee in a form and substance acceptable <br />to the Mayor and the Clerk to provide for the sale of the Bonds. The Mayor and the Clerk are <br />hereby authorized and directed to execute and deliver the Bond Purchase Agreement in a form and <br />substance acceptable to them and consistent with the terms and conditions set forth in this <br />Ordinance, with such acceptance of the form and substance thereof to be conclusively evidenced <br />by their execution thereof. <br />SECTION V. Execution and Delivery of Financing Documents. Each of the Mayor and <br />the Clerk and any other officer of the City are authorized and directed to execute the Financing <br />Documents, such other documents approved or authorized herein and any other document which <br />may be necessary, appropriate or desirable to consummate the transaction contemplated by the <br />Financing Documents, the Bond Purchase Agreement, and this Ordinance, and their execution is <br />hereby confirmed on behalf of the City. The signatures of the Mayor, the Clerk and any other <br />officer of the City on the Bonds which may be necessary or desirable to consummate the <br />transaction, and their execution is hereby confirmed on behalf of the City. The signatures of the <br />Mayor, the Clerk and any other officer of the City on the Bonds may be facsimile signatures or <br />electronic signatures. The Mayor, the Clerk and any other officer of the City are authorized to <br />arrange for the delivery of such Bonds to the purchaser thereof, payment for which will be made <br />in the manner set forth in the Financing Documents. The Mayor, the Clerk and any other officer <br />of the City may, by their execution of the Financing Documents requiring their signatures and <br />imprinting of their facsimile signatures thereon, approve any and all such changes therein and also <br />in those Financing Documents which do not require the signature of the Mayor, the Clerk or any <br />other officer of the City without further approval of this Common Council or the Economic