2005-90 PROVIDING FOR THE ISSUANCE OF A GENERAL OBLIGATION NOTE

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the name of any other person, association, trust or corporation, in said agreement with the Bank for the purchase of the Note. Either Designated Officials and such other officers of the City as may be necessary are hereby further authorized to execute such documents, including, specifically, such closing documents and certifications as shall be required by Bond Counsel, to render their opinions relating to the validity of the Note. All actions taken by the Designated Of�icials or by such other oi�cers or employees of the City as may have occurred in connection with the issuance of the Note are hereby expressly 'I approved, ratified and confirmed. Section 12. Creation of Project Fund and Appropriations. Note proceeds and other funds of the City as noted are hereby appropriated as follows: The drawdown of the principal proceeds of the Note shall be set aside in a separate fund, hereby created, and designated as the "Project Fund" (the "Project Fund"), and be used to pay costs of the Project, including costs of issuance of the Note, and interest on or principal of the Note at any time there are insui�icient funds from other sources to pay the same. The Council reserves the right, as it becomes necessary from time to time, to revise the list of projects hereinabove set forth, to change priorities, to revise cost allocations between projects and to substitute projects, in order to meet current needs of the City; subject, however, to limitations of the Act and to the tax covenants set forth herein. Section 13. General Covenants. The City covenants and agrees with the Bank that, so long as the Note remains outstanding and unpaid: (a) The City will punctually pay or cause to be paid the principal of and interest on the Note in strict conformity with the ternls of the Note and this Ordinance, and it will faithfully observe and perform all of the conditions, covenants and requirements thereof. -xxv-