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the office of the City Clerk a Note Order directed to the Council ide tifying (i) the terms of the <br /> sale, (ii) the amount, if any, of the Note being sold as a Floating Rate Note, (iii) the Dated Date, <br /> (iv) the aggregate principal amount of the Note sold, (v) the repayme t schedule for the principal <br /> of and interest on the Note, (vi) the optional redemption provision , if any, applicable to the <br /> Note, and (vii) any other matter authorized by this Ordinance to be de ermined by the Director of <br /> Financial Management at the time of sale of the Note, and thereafter e Note as so sold shall be <br /> duly prepared and executed in the form and manner provided h ein and delivered to the <br /> Purchaser in accordance with the terms of sale. <br /> Any Designated Officer and such other officers of the City as may be necessary are <br /> hereby authorized to execute such other documents, as may be n cessary to implement the <br /> Agreement and the transactions contemplated thereby and to effect t e issuance and delivery of <br /> the Note, and execution thereof by such officers is hereby deem d conclusive evidence of <br /> approval thereof with such changes, additions, insertions, omissions o deletions as such officers <br /> may determine, with no further official action of or direction by the C uncil. <br /> Section 6. Security; Payment. The security for the payme t of the Note shall be as <br /> follows: (a) the proceeds of the Note as and to the extent not c mmitted by contract for <br /> expenditure on the Project, and (b) the full faith and credit of th City. The City hereby <br /> additionally pledges the Incremental Property Taxes to the payment o the Note, and the Council <br /> covenants and agrees to comply with the requirements and provision of the TIF Act to assure <br /> the collection and allocation of the Incremental Property Taxes as the IF Act provides. <br /> The City covenants and agrees with the Purchaser that s long the Note remains <br /> outstanding, the City will take no action or fail to take any action which in any way would <br /> adversely affect the security for the Note or the ability of the City t levy and collect taxes, if <br /> necessary, to pay the Note. <br /> -10- <br />