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any other political subdivision thereof to pay the Bonds or the <br /> interest thereon, and the Bonds do not constitute an indebtedness <br /> of the Issuer or a loan of credit thereof within the meaning of <br /> any constitutional or statutory provision. No recourse shall be <br /> had for the payment of the principal of, premium, if any, or <br /> interest on the Bonds or for any claim based thereon or upon any <br /> obligation, covenant or agreement in the Assignment contained, <br /> against any past, present or future city council member, agent, <br /> employee or other officer of the Issuer, or of any successor <br />' corporation, as such, either directly or through the Issuer or <br /> any successor corporation, under any rule of law or equity, - <br /> statute or constitution or by the enforcement of any .assessment <br /> or penalty or otherwise, and all such liability of any such city <br /> council member, officer, agent or employee as such is hereby <br /> expressly waived and released as a condition of and in <br /> consideration for the issuance of the Bonds. <br /> Section 3. Sale. That the sale and private placement <br /> by the Borrower of the Bonds to and with the Purchaser upon the <br /> terms and conditions set out in the Bond Purchase Agreement shall <br /> be, and are, in all respects authorized and approved. <br /> Section 4. Further Actions. That from and after the <br /> execution and delivery of the Issuer pocuments, the proper <br /> officials, agents and employees of the Issuer are hereby <br /> authorized, empowered and directed to do all such acts and things <br /> and to execute all such documents, including a Bond Purchase <br /> Agreement with the Purchaser, as may be necessary to carry out <br /> and comply with the provisions of the Issuer pocuments as <br /> -6- <br />