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upon such officer of the Issuer as may from time to time have the authority under law to take such
<br />actions as may be necessary to perform all or any part of the duty required by such provision; and
<br />each duty of the Issuer and of its officers and employees undertaken pursuant to such proceedings
<br />for the Bonds and all other documents to be executed by the Issuer is established as a duty of the
<br />Issuer and of each such officer and employee having authority to perform such duty.
<br />Section 10. No Personal Liability. No recourse under or upon any obligation, covenant,
<br />acceptance or agreement contained in this Bond Ordinance, or in the Bonds, the Loan Agreement,
<br />the Indenture, the Bond Purchase Agreement, or under any judgment obtained against the Issuer or
<br />by the enforcement of any assessment or by any legal or equitable proceeding by virtue of any
<br />constitution or statute or otherwise, or under any circumstances, under or independent of the Loan
<br />Agreement, shall be had against any member, director, or officer or attorney, as such, past, present,
<br />or future, of the Issuer, either directly or through the Issuer, or otherwise, for the payment for or to
<br />the Issuer or any receiver thereof, or for or to any holder of the Bonds secured thereby, or otherwise,
<br />of any sum that may be due and unpaid by the Issuer upon any of such Bonds. Any and all personal
<br />liability of every nature, whether at law or in equity, or by statute or by constitution or otherwise, of
<br />any such member, director, or officer or attorney, as such, to respond by reason of any act or
<br />omission on his or her part, or otherwise, for, directly or indirectly, the payment for or to the Issuer
<br />or any receiver thereof, or for or to any owner or holder of the Bonds, or otherwise, of any sum that
<br />may remain due and unpaid upon the Bonds hereby secured or any of them, shall be expressly
<br />waived and released as a condition of and consideration for the execution and delivery of the Loan
<br />Agreement, the Indenture and the Bond Purchase Agreement, and the issuance of the Bonds.
<br />Section 11. No Debt or Tax Pledge. The Bonds shall not constitute a debt or pledge of the
<br />faith and credit of the Issuer, the State or any political subdivision thereof, and the holders or owners
<br />thereof shall have no right to have taxes levied by the Issuer, the State or of any political subdivision,
<br />for the payment of the principal thereof or interest thereon. Moneys raised by taxation shall not be
<br />obligated or pledged for the payment of principal of or interest on the Bonds, and the Bonds shall
<br />be payable solely from the revenues and security interests pledged for their payment as authorized
<br />by the Indenture.
<br />Section 12. Severability. If any section, paragraph or provision of this Bond Ordinance shall
<br />be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such
<br />section, paragraph or provision shall not affect any of the remaining provisions of this Bond
<br />Ordinance.
<br />Section 13. Repeal of Conflicting Ordinances and Resolutions. All ordinances, resolutions
<br />and orders, or parts thereof, in conflict with the provisions of this Bond Ordinance are, to the extent
<br />of such conflict, hereby repealed.
<br />Section 14. Public Infection. A copy of the Loan Agreement, the Indenture, the Bond
<br />Purchase Agreement, the Preliminary Official Statement and the form of the City of South Bend,
<br />RESUCB~269079.1 '6'
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