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<br /> <br /> <br />6 <br />SECTION VIII. Pledge of Project TIF Revenues. This Common Council does <br />hereby acknowledge and approve the pledge of the Project TIF Revenues to the payment of the <br />Bonds pursuant to the Indenture. Pursuant to Indiana Code 5-1-14-4, the pledge of the Project TIF <br />Revenues pursuant to the Indenture is intended to be binding from the time the pledge is made, <br />with such Project TIF Revenues so pledged and thereafter received by the City to be immediately <br />subject to the lien of the pledge without any further act, and the lien of such pledge to be binding <br />against all parties having claims of any kind, in tort, contract, or otherwise against the City, <br />regardless of whether the parties have notice of any such lien. <br />SECTION IX. Pledge of Project IDD Revenues. This Common Council does <br />hereby acknowledge and approve the pledge of the Project IDD Revenues to the payment of the <br />Bonds pursuant to the Indenture. Pursuant to Indiana Code 5-1-14-4, the pledge of the Project <br />IDD Revenues pursuant to the Indenture is intended to be binding from the time the pledge is <br />made, with such Project IDD Revenues so pledged and thereafter received by the City to be <br />immediately subject to the lien of the pledge without any further act, and the lien of such pledge <br />to be binding against all parties having claims of any kind, in tort, contract, or otherwise against <br />the City, regardless of whether the parties have notice of any such lien. <br />SECTION X. No Liability. No stipulation, obligation or agreement herein contained or <br />contained in the Financing Documents, the Bonds or in any other agreement or document executed <br />on behalf of the City shall be deemed to be a stipulation, obligation or agreement of any member <br />of the Common Council, or any officer, agent or employee of the City in his or her individual <br />capacity, and no such member of the Common Council, officer, agent or employee shall be <br />personally liable on the Bonds or be subject to personal liability or accountability by reason of the <br />issuance thereof. <br />SECTION XI. Severability. If any section, paragraph or provision of this <br />Ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or <br />unenforceability of such section, paragraph or provision shall not affect any of the remaining <br />provisions of this Ordinance. <br />SECTION XII. Open Meetings. It is hereby determined that all formal actions of <br />the Common Council relating to the adoption of this Ordinance were taken in one or more open <br />meetings of the Common Council, that all deliberations of the Common Council and of its <br />committees, if any, which resulted in formal action, were in meetings open to the public, and that <br />all such meetings were convened, held and conducted in compliance with applicable legal <br />requirements, including Indiana Code 5-14-1.5, as amended. <br />SECTION XIII. Further Authorizations. The Mayor, the Clerk, the Controller of <br />the City and any other officer of the City are hereby authorized and directed, in the name and on <br />behalf of the City, to execute, attest and deliver such further instruments and documents, and to <br />take such further actions, in the name of the City as in their judgment shall be necessary or <br />advisable in order fully to consummate the transactions described herein and carry out the purposes <br />of this Ordinance, and any such documents heretofore executed and delivered and any such actions <br />heretofore taken, be, and hereby are, ratified and approved.