05-26 Ordinance Authorizing the City to Issue One or More Series of its Taxable Economic Development Tax Increment Revenue Bonds and Approving and Authorizing Other Actions in Respect Thereto in Connection With the Colfax Corner ML, LLC Project

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SECTION VIII. pledge of Project TIF Revenues. This Common Council does hereby acknowledge and approve the pledge of the Project TIF Revenues to the payment of the Bonds pursuant to the Indenture. Pursuant to Indiana Code 5-1-14-4,the pledge of the Project TIF Revenues pursuant to the Indenture is intended to be binding frothe ithe City me the t ledggeim is ma atde, with such Project TIF Revenues so pledged and thereafter receivedby subject to the lien of the pledge without any further act, and the lien of such pledge to be binding against all parties having claims of any kind, in tort, contract, or otherwise against the City, regardless of whether the parties have notice of any such lien. SECTION IX. Pledge of Project IDD Revenues. This Common Council does hereby acknowledge and approve the pledge of e Project CodeD5D1Revenues to the 14-4, the pledge of the Project ent of the Bonds pursuant to the Indenture. Pursuant to Indianais IDD Revenues pursuant to the Indenture is intended and thereafter received by the Cityed to be binding from the time the dtoe be made, with such Project IDD Revenues so pled$ immediately subject to the lien of the pledge without any further act, and the lien of such pledge to be binding against all parties having claims not ce of any suchr lien.c contract, or otherwise against the City,regardless of whether the parties SECTION X.No Liability. No stipulation, obligation or agreement herein contained or contained in the Financing Documents,the Bonds or in obligation or gree agreement of anyy other agreement or document emember xecuted on behalf of the City shall be deemed to be a stipulation, al of the Common Council, or any officer, ag or ee of the City in officer, agent ohls or her employee xha 1 be capacity, and no such member of the Common Council, personally liable on the Bonds or be subject to personal liability or accountability by reason of the issuance thereof. SECTION XI. Severability. If any section, paragraph or provision of this Ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph or provision shall not affect any of the remaining provisions of this Ordinance. SECTION XII. Op en Meetings. It is hereby determined that all formal actions of the Common Council relating to the adoption of this Ordinance were taken in one or more open meetings of the Common Council, that all deliberations of the Common Council and of its committees, if any,which resulted in formal action, were in meetings open to the public, and that all such meetings were convened, held and conducted in compliance with applicable legal requirements, including Indiana Code 5-14-1.5, as amended. SECTION XIII. Further Authorizations. The Mayor, the Clerk, the Controller of the City and any other officer of the City are hereby authorized and directed, in the name annddotn behalf of the City, to execute, attest and deliver such further instruments and documents, take such further actions, in the name of the City as in their judgment shall be necessary or advisable in order fully to consummate ents the transactions heretofore executed and deliescribed hereinvered ed and any sd carry out he uck aeons ses of this Ordinance,and any such heretofore taken,be,and hereby are, ratified and approved. 6