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<br /> its general cred i or taxing powers. In entering into the Loan <br /> Agreement, the Ci y will not obligate itself, except with respect <br /> to the Project an the application of the revenues therefrom and <br /> Bond proceeds therefor. The City will not payout of its general <br /> fund.or otherwise contribute any part of the Cost of the Project, <br /> as sa id term is de ined in the Lc)an Agreement. <br /> covenants that it will faithfully perform at <br /> . <br /> all times any an all covenant::; , undertakings, stipulations and <br /> provisions contai ed in this Ordinance, in the Bond and in all <br /> proceedings of it City Council pertaining thereto. Based upon <br /> the opinion of Bo d Counsel, the City covenants that it is duly <br /> authorized under he Consti tuticm and laws of the State of Colo- <br /> rado, including p rticularly and without limitation the Act, to <br /> issue the Bond a thorized hereby, and to pi edge and assign the <br /> revenues and rece pts hereby pledged and assigned in the manner <br /> and to the extent herein set fc.rth; that all action on its part <br /> for the issuance the Bond has been duly and effectively taken <br /> and that the Bo is and will be the valid and enforceable <br /> special, limited obligation of the City according to the true <br /> intent and meaning thereof. <br /> The Cit covenants that it will execute, acknowledge <br /> and deliver such instruments, financing statements and other <br /> documents Lender may re~asonably require for the better <br /> assuring, pledg i 9 and assigning unto the Lender the rights <br /> of the City in a d to the revenues and receipts hereby assigned <br /> \, <br /> and pledged to th payment of the principal of and interest on the <br /> Bond. The City ovenants and .agrees that, except as herein and <br /> in the Loan Agre ment provided, it will not sell, convey, mort- <br /> gage, encumber or otherwise di:s.pose of any part of the revenues <br /> and receipts der ed from the Loan Agreement, or of its rights <br /> under the Loan Ag eement. <br /> TheCi y covenants and agrees that all books and <br /> documents in its possession relating to the Project and the <br /> revenues and rece'pts derived from the Loan Agreement shall a tall <br /> reasonable times e open to insipection by the Bondholder or such <br /> accountants or ot agencies a'. such Bondholder may from time to <br /> .:> <br /> " -" time designate. <br /> - 20 - <br /> - -.--. ---- ------- <br />