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• CITY of ORONO RESOLUTION OF THE CITY COUNCIL NO. 5461 (g) The Borrower has approved and requested the City to accept the proposal of the Lenders to purchase the Notes on the terms set forth herein and in the Assignment, and the proposal appears feasible and reasonable. (h) Under the provisions of Section 469.162 of the Act and as provided in the Loan Agreement, the Notes are not to be payable from nor charged upon any funds other than amounts payable pursuant to the Loan Agreement and moneys in the funds and accounts held by the Trustee which are pledged to the payment thereof; the City is not subject to any liability thereon; no holders of the Notes shall ever have the right to compel the exercise of the taxing power of the City to pay any of the Notes or the interest thereon, nor to enforce payment thereof against any property of the City; the Notes shall never constitute an indebtedness of the City, within the meaning of any constitutional, statutory or charter limitation and shall not constitute nor give rise to a pecuniary liability of the City or a charge against its general credit or taxing powers; the Notes shall not constitute a charge, lien or encumbrance, legal or equitable, upon any property of the City; and the Notes shall not constitute nor give rise to a charge against the general credit or taxing powers of the City and does not grant to the owner or holder of the Notes the right to have the City levy taxes or appropriate any funds for the payment of principal thereof or the interest or premium, if any, thereon and the Notes are not a general obligation of the City or individual officers or agents thereof. 5. Application to Commissioner. The City shall submit the application for approval of the Project and issuance of the Notes to the Commissioner of the Department of Employment and Economic Development for approval. 6. Approval and Execution of Documents. The forms of the Loan Agreement, the Mortgage and the Assignment referred to in paragraph 3 are approved and shall be executed in the name and on behalf of the City by the Mayor and the City Clerk or the officers authorized to act on behalf o the foregoing officers, in substantially the form on file, but with all such changes therein, not inconsistent with the Act or other law, as may be approved by the officers executing the same, which approval shall be conclusively evidenced 3