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` �� x i <br /> A <br /> Corporate Authorities. The agreement with the Developer to purGhase the Note is hereby <br /> ratified, approved and confirmed, it being hereby expressly found that no person holding any <br /> office of the City either by election or appointment is in any manner financially interested, either <br /> directly in his own name or indirectly in the name of any other person, association, trust or <br /> corporation, in said agreement with the Developer for the purchase of the Note. <br /> Any Designated Officer and such other officers of the City as may be necessary are <br /> hereby further authorized to execute such documents, including, specifically, such closing <br /> documents and certifications as shall be required by Chapman and Cutler, bond counsel, to <br /> render their opinions relating to the validity of the Note. <br /> Section 10. Note Proceeds. The performance by the Developer of its obligations <br /> pursuant to the Redevelopment Agreement shall be deemed to be consideration for the issuance <br /> of the Note. To that end the Designated Officers are hereby expressly directed to authorize the <br /> drawdown of the principal amount of the Note as herein authorized, not to exceed the aggregate <br /> principal amount of$4,882,000, upon delivery.by the Developer to the City of such evidence of <br /> performance as such Designated Officers shall reasonably require, without further official action <br /> or direction by the Corporate Authorities. <br /> Section 11. Additional Notes. No Additional Notes shall be issued. The City hereby <br /> expressly reserves unto itself without restriction of any type or kind whatsoever the right to issue <br /> obligations secured by that portion of the Incremental Sales Taxes not pledged hereunder as <br /> security for the Note. <br /> -25- <br />