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<br /> <br />. . <br /> <br />. <br /> <br />. <br /> <br />acquiring, construc.ting and equipping the Project, including costs related thereto and reimbursement <br />to the City for capital expenditures heretofore incurred and paid from City funds in anticipation of the <br />incurrence oflong-term financing therefor, and all other costs and expenses incident thereto, including <br />without limitation the costs of obtaining the Loan. The CWCB shall not be responsible for the <br />application or disposal by the City or any of its officers of the funds derived from the Loan. In the <br />event that all of the proceeds of the Loan are not required to pay such costs and expenses, any <br />remaining amount shall be used for the purpose of paying the principal amount of the Loan and the <br />interest thereon. <br />Section 6. Estimated Life of Improvements. It is hereby determined that the <br />estimated life of the Project to be financed with the proceeds of the Loan is not less than the final <br />maturity of the Loan. <br />Section 7. Direction to Take Authorizing Action. The appropriate officers of the <br />City and members of the Council are hereby authorized and directed to take all other actions <br />necessary or appropriate to effectuate the provisions of this Ordinance, including but not limited to <br />such certificates and affidavits as may reasonably be required by the CWCB. <br />Section 8. Ratification and Approval of Prior Actions. All actions heretofore <br />taken by the officers of the City and members of the Council, not inconsistent with the provisions of <br />this Ordinance, relating to the Financing Documents, or actions to be taken in respect thereof, are <br />hereby ratified, approved, and confirmed. <br />Section 9. Severabilitv. If any section, paragraph, clause, or provision of this <br />Ordinance shall for any reason be held to be invalid or unenforceable, the invalidity or <br />unenforceability of such section, paragraph, clause, or provision shall not affect any of the remaining <br />provisions of this Ordinance, the intent being that the same are severable. <br />Section 10. Repealer. All orders, resolutions, bylaws, ordinances or regulations of <br />the City, or parts thereof, inconsistent with this Ordinance are hereby repealed to the extent only of <br />such inconsistency. <br />Section II. Ordinance Irrepealable. After the Note is issued, this Ordinance shall <br />constitute an irrevocable contract between the City and the CWCB, and shall be and remain <br />irrepealable until the Note and the interest thereon shall have been fully paid, satisfied, and <br />discharged. No provisions of any constitution, statute, charter, ordinance, resolution or other <br /> <br />CAK\5472 2.0 2\364452.02 <br />