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by the City of the obligations contained in the <br /> City Documents and the JPA Agreement and the City <br /> Documents and the JPA Agreement constitute the <br /> legally valid and binding obligations of the City <br /> and the Redevelopment Agency, as the case may be, <br /> enforceable against the Authority in accordance <br /> with their respective terms; <br /> (iii) The resolutions of the City approving <br /> and authorizing the execution and delivery of the <br /> City Documents, the JPA Agreement and approving <br /> the Official Statement, have been duly adopted at <br /> meetings of the governing body of the City , which <br /> were called and held pursuant to law and with all <br /> public notice required by law and at which a <br /> quorum was present and acting throughout and the <br /> resolutions are in full force and effect and have <br /> not been modified, amended or rescinded; <br /> (iv) The City is not in default, nor has it <br /> been in default, as to principal or interest with <br /> respect to an obligation issued or incurred by the <br /> City, and the City is not and will not, in any <br /> manner which would materially adversely affect the <br /> transactions contemplated by the City Documents or <br /> the JPA Agreement, be in breach of or in default <br /> under any applicable constitutional provision, <br /> law, Charter provision (including, but not limited <br /> to, Section 1307 thereof) or administrative rule <br /> or regulation of the State or the United States, <br /> or any applicable judgment or decree or any trust <br /> agreement, loan agreement, bond, note, resolution, <br /> ordinance, agreement or other instrument to which <br /> the City is a party or is otherwise subject, and <br /> no event has occurred and is continuing which, <br /> with the passage of time or the giving of notice, <br /> or both, would constitute, in any manner which <br /> would materially adversely affect the transactions <br /> contemplated by the City Documents, a default or <br /> event of default under any such instrument; <br /> (v) The authorization, execution and <br /> delivery of the City Documents and compliance with <br /> the provisions of each of such agreements or <br /> instruments and of the JPA Agreement do not and <br /> will not, in any manner which would materially <br /> adversely affect the transactions contemplated by <br /> the City Documents or the JPA Agreement, conflict <br /> with or constitute a breach of or default under <br /> any applicable constitutional provision, law, <br /> Charter provision (including, but not limited to, <br /> Section 1307 thereof) or administrative rule or <br /> regulation of the State or the United States, or <br /> 20 <br />