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<br /> l <br /> any of its property is bound, or be in confl ict wit , result in <br /> breach of, or constitute (with due notice or lapse of time or <br /> both) a default under any such indenture, ag reeme t or other <br /> instrument. <br /> ( j ) No member of the City Council of the City hav ing <br /> acted upon this Ordinance in his official capaci ( i) has <br /> a direct or indirect interest in the Project, Inde ture, Loan <br /> Agreement, Mortg age, Assignment, or Bond, (ii) owns ny interest <br /> in the Project or the Borrower, (iii) is a partner or employee of <br /> the Borrower, (iv) will be involved in supervising th completion <br /> of the Project on behalf of the Borrower, or (v) will any <br /> commission, bonus, or other remuneration for or in re pect to the <br /> Project, the Loan Agreement, the Indenture, the Mo tgage, the <br /> Assignment, or the Bond. <br /> (k) The City, pursuant to the Indenture, hereby pre- <br /> serves the option to issue, at its discretion, upon re uest of the <br /> Borrower, and only upon the terms set forth therein, such Addi- <br /> tional Bonds as are necessary to complete the Proj ct, provide <br /> funds for improvements to the Project, and to refun or advance <br /> refund in whole the Bond then outstanding. <br /> Section 5. Nature of Obligation. provisions <br /> of the Act, and as provided in the Loan Agreement, the Series 1981 <br /> Bond shall be a special, limited obl igation of the i ty payable <br /> solely from, and secured by a pledge of, the revenues s stated in <br /> the Loan Agreement and shall be further secured by the lien of the <br /> Combination Mortgage and Security Agreement upon the roject, and <br /> by the~Assignment of Rents and Leases. The City wil not pledge <br /> any of its property or secure the payment of the Seri s 1981 Bond <br /> with its property. The Series 1981 Bond shall never onstitute a <br /> debt or indebtedness of the City within the meaning 0 any provi- <br /> sion or limitation of the state constitution or statut s and shall <br /> not constitute or give rise to a pecuniary liability of the City <br /> or a charge ag ainst its general credit or taxing owers. In <br /> entering into the Loan Agreement, the City will n t obligate <br /> itself, except with respect to the Project and the ap lication of <br /> the revenues therefrom and Bond Proceeds therefor. :r e City will <br /> not pay out of its general fund or otherwise contrib te any part <br /> - 7 - <br />