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<br /> <br /> <br />5 <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 initial sale of all or a portion of the Bonds. The <br />Mayor and the Clerk are hereby authorized and directed to execute and deliver the Bond Purchase <br />Agreement in a form and substance acceptable to them and consistent with the terms and <br />conditions set forth in this Ordinance, with such acceptance of the form and substance thereof to <br />be conclusively evidenced 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, in such forms as are on file with the Clerk with such changes therein as shall be <br />approved by the Mayor and the Clerk, with execution of those documents by the appropriate officer <br />or representative of the City constituting conclusive evidence of such approval of any such <br />changes, such other documents approved or authorized herein and any other document which may <br />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 and in any other documents contemplated to be executed or approved by <br />the City in connection with the issuance of the Bonds or effecting the purposes of this Ordinance <br />without further approval of this Common Council or the Economic Development Commission if <br />such changes do not affect terms set forth in Sections 27(a)(1) through and including (a)(10) of the <br />Act. <br />SECTION VI. Binding Effect. The provisions of this Ordinance and the Financing <br />Documents securing the Bonds of any series or subseries shall constitute a contract binding <br />between the City and the holders of the Bonds of such series or subseries, and after the issuance <br />of the Bonds, this Ordinance shall not be repealed or amended in any respect which would <br />adversely affect the rights of such holders so long as the Bonds or the interest thereon remains <br />unpaid. <br />SECTION VII. Findings Relating to Project. The Common Council hereby finds <br />that (a) the Project and the related financing assistance for the Project provided in the Financing <br />Documents are consistent with the economic development plan for the Area and the Lafayette <br />North Allocation Area; (b) the Developer would not undertake the Project without the financing <br />assistance provided in Financing Documents; and (c) the Project furthers the economic <br />development of the Lafayette North Allocation Area and the Area generally.