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Section 4. The issuance of the Bonds shall be subject to the approval of the <br />Authority of all financing documents relating thereto to which the Authority is a party. <br />The City shat! have no responsibility or liability whatsoever with respect to the Bonds. <br />Section 5. The adoption of this Resolution shall not obligate the City or any <br />department thereof to: {i} provide any financing to acquire or construct the Project or <br />any refinancing of the Project; {ii} approve any application or request for or take any <br />other action in connection with any planning approval, permit or other action necessary <br />for the acquisition, rehabilitation or operation of the Project; (iii) make any contribution or <br />advance any funds whatsoever to the Authority; or {iv} take any further action with <br />respect to the Authority or its membership therein. <br />Section 6. The City Manager, the Director of Finance and Management <br />Services, the Clerk of the Council and all other proper officers and officials of the City <br />are hereby authorized and directed to execute such other agreements, documents and <br />certificates, and to perform such other acts and deeds, as may be necessary or <br />convenient to effect the purposes of this Resolution and the transactions herein <br />authorized. <br />Section 7. This Resolution shall take effect immediately upon its adoption by <br />the City Council, and the Clerk of the Council shall attest to and certify the vote adopting <br />this Resolution. <br />ADOPTED this 7th day of July, 2008. <br />Mayor <br />APPF~OVEa AS TO FORM: <br />Ate: ~y Councilmembers: Alvarez, Benavides. Bustamante, Martinez. <br />Pulido. Sarmiento, Tinaiero {7} __ <br />NOES: Councilmembers: None (0) <br />ABSTAIN: Councilmembers: None (0) <br />NOT PRESENT: Councilmembers: None (0} <br />Resolution No. 2008-053 <br />Page 3 of 4 <br />