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1987-25 CRA
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1987-25 CRA
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Last modified
1/3/2012 12:21:34 PM
Creation date
3/3/2005 9:09:40 AM
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City Clerk
Doc Type
Resolution
Doc #
CRA 1987-25
Date
12/21/1987
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<br />. <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />to deliver the Agreement to the Issuer, and does hereby authorize and <br />direct the execution and delivery of the Agreement, All of the pro- <br />visions of the Agreement, when executed and delivered by the Agency <br />as authorized herein and when duly authorized, executed and delivered <br />by the Issuer, shall be deemed to be a part of this resolution as <br />fully and to the same extent as if incorporated verbatim herein, and <br />the Agreement shall be in substantially the form of the Agreement <br />attached hereto as Exhibit A with such changes, amendments, modifica- <br />tions, omission,. and additions, including the date of such Agreement, <br />as may be approved by said Chairman. Execution by said Chairman of <br />the Agreement shall be deemed to be conclusive evidence of approval <br />of such changes. <br /> <br />SECTION 4. NO PERSONAL LIABILrTY No covenant, stipula- <br />tion, obligation or agreement herein contained or contained in the <br />Agreement shall be deemed to be a covenant, stipulation, obligation <br />or agreement of any member, agent or employee of the Agency in his <br />individual capacity, and neither the members of the Agency nor any <br />official executing any document shall be liable personally thereon or <br />be subject to any personal liability or accountability by reason or <br />the issuance thereof. <br /> <br />SECTION 5. NO THIRD PARTY BENEFICIARIFS E x c e p t a s <br />expressly provided herein or in the Agreement, nothing in this reso- <br />lution or in the Agreement, expressed or implied, is intended or <br />shall be construed to confer upon any person or firm or corporation <br />other than the Agency, the Issuer and the purchasers of the Note any <br />right, remedy or claim, legal or equitable, under and by reason of <br />this resolution or any provision hereof or of the Agreement, all pro- <br />visions thereof being intended to be and being for the sole and <br />exclusive benefit of the Agency, the Issuer and the purchasers of the <br />Note. <br /> <br />SECTION 6. COVENANTS OF THE AGENCY All acts, conditions <br />and things relating to the passage of this resolution or to the exe- <br />cution of the Agreement required by the Act to happen, exist and be <br />performed precedent to and in the passage of this resolution, and <br />precedent to the execution and delivery of the Agreement have hap- <br />pened, exist and have been performed as so required, <br /> <br />SECTION 7, GENERAL AUTHORITY The members of the Agency <br />and its officers, attorneys, financial consultants or other agents or <br />employees are hereby authorized to do all acts and things <br />(a) required of them by this resolution and the Agreement, or <br />(b) desirable or consistent with the requirements hereof or such <br />Agreement for the full, punctual and complete performance of all the <br />terms, covenants and agreements contained in the Agreement and this <br />resolution. <br /> <br />-2- <br /> <br />94794,2.2982.07:4 <br />
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