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of the City with the manual or facsimile signature of its Mayor and attested with the manual or
<br /> facsimile signature of its City Clerk and the official seal of the City shall be impressed or imprinted
<br /> thereon; that the Bonds shall bear interest at one or more fixed rates not to exceed a weighted
<br /> average rate of 8% per annum, and shall be payable over a term not to exceed 40 years from date
<br /> of issuance; that the Mayor of the City or the City Clerk shall cause the Bonds, as so executed and
<br /> attested, to be delivered to the Trustee for authentication; and that when the Bonds are executed
<br /> on behalf of the City in the manner contemplated by the Indenture and this Ordinance in an
<br /> aggregate principal amount not to exceed $18,000,000, they shall represent the approved form of
<br /> Bonds of the City.
<br /> Section 8. Tax Agreement. That the City Council does hereby authorize and approve
<br /> the execution by the Mayor and the delivery of a Tax Exemption Certificate and Agreement (the
<br /> "Tax Agreement"), among the City, the University and the Trustee, pursuant to which certain
<br /> investment earnings on moneys held by the Trustee will be transferred to a Rebate Fund established
<br /> thereunder, as more fully described in the Tax Agreement. Such Tax Agreement shall be in such
<br /> form as is drafted by Chapman and Cutler LLP, Bond Counsel, and acceptable to corporation
<br /> counsel for the City, such execution to constitute conclusive evidence of the corporation counsel's
<br /> approval, and of the City Council's approval, of the final form of the Tax Agreement.
<br /> Section 9. Other Documents. That the Mayor and the City Clerk and any other official,
<br /> employee or agent of the City be, and each of them hereby is, authorized and directed to execute,
<br /> attest, seal, deliver or approve any and all agreements, instruments, documents and certificates
<br /> (including, but not limited to uniform commercial code financing statements, account control
<br /> agreements, intercreditor agreements, and any and all other closing documentation relating to the
<br /> issuance of the Bonds), to do any and all things deemed necessary to effect the issuance and sale
<br /> of the Bonds and the execution and delivery of the Loan Agreement,the Indenture, the Placement
<br /> Agreement and such other agreements, instruments, documents and certificates, and to perform
<br /> the obligations and duties of the City hereunder and thereunder, all as shall be necessary and
<br /> desirable to carry out the intent and purposes of this Ordinance, including the preambles to this
<br /> Ordinance.
<br /> Section 10. Authorization and Ratification of Subsequent Acts. That all acts of the City
<br /> Council and the officials and employees of the City that are in conformity with the intent and
<br /> purposes of this Ordinance, whether heretofore or hereafter taken or done, be, and the same are
<br /> hereby, in all respects, ratified, confirmed and approved.
<br /> Section 11. Severability. That the provisions of this Ordinance are hereby declared to be
<br /> separable, and if any section, phrase or provision shall for any reason be declared to be invalid,
<br /> such declaration shall not affect the validity of the remainder of the sections, phrases and
<br /> provisions of this Ordinance.
<br /> Section 12. Publication. That a full, true and complete copy of this Ordinance shall be
<br /> published within ten days after passage in pamphlet form by authority of the City Council.
<br /> Section 13. Conflicts. That all ordinances, resolutions, or parts thereof, in conflict
<br /> herewith are hereby superseded to the extent of such conflict; and that this Ordinance shall be in
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