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the performance of all obligations of the Issuer under and our- <br />suart to the Loan agreement and -the Indenture, the execution and <br />delivery of the Series 1978 Bond, and the performance of all <br />other acts of whatever nature necessary to effect and carry out <br />the authority conferred by this ordinance and by the Loan Agree- <br />ment, and the Indenture. The Mayor and the City Clerk be, and <br />they are hereby further authorized and directed for and on behalf <br />of the Issuer, to execute all papers, documents, certificates and <br />other instruments that may be required for the carrying out of <br />the authority conferred by this ordinance and by the Loan Agree- <br />ment and the Indenture, or to evidence the said authority and its <br />exercise. <br />The Trustee is hereby authorized to receive and receipt <br />for the proceeds of the Series 1978 Bond on behalf of the issuer <br />and to hold, invest and disburse said proceeds in accordance with <br />the provision of the Indenture. All provisions of the Indenture, <br />including those with respect to the acquisition and construction <br />of the Project, the issuance and delivery of the Series 1978 Bond <br />and the receipt, custody, investment and application of the <br />proceeds of the Series 1978 Bond and the payments and other <br />revenues to be derived from the Project, are hereby in all respects <br />adopted, ratified and confirmed for and on behalf of the Issuer. <br />Section 15. This Common Council hereby elects to have <br />the provisions of Section 103(b)(6)(D) of the Internal Revenue <br />Code of 1954, as amended, applied to the One Million One Hundred <br />Thousand dollar ($1,100,000.00) principal amount of Series 1975 <br />Bonds previously authorized on December 15, 1975, together with <br />the Four Hundred Thousand dollars ($400,000) principal amount of <br />the Series 1978 Bond herein authorized (aggregated amount of the <br />issues is One Million rive Hundred Thousand dollars ($1,500,000)]; <br />and that the Mayor and City Clerk be and they hereby are authorized, <br />empowered and directed to take any and all further action which <br />may be required to implement and effectuate such election, including <br />without limitation the preparation and filing of such statement <br />-?0- <br />