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E. The Bonds and the obligation to pay interest thereon do not now and shall never <br />constitute an indebtedness or an obligation of the Issuer, the State of Illinois or any political <br />subdivision thereof, within the purview of any constitutional limitation or statutory provision, or <br />a charge against the general credit or taxing powers of any of them. No owner of the Bonds shall <br />have the right to compel the taxing power of the Issuer, the State of Illinois or any political <br />subdivision thereof to pay any principal installment of, premium, if any, or interest on the Bonds. <br />F. There has been presented to this meeting of the President and the Members of the <br />Board of Trustees of the Issuer forms of the following documents in connection with the Bonds: <br />a) The Bonds; <br />b) The Indenture; <br />C) The Loan Agreement, appended to which as Exhibit B is the Promissory Note (the <br />"Note") from the Company to the Issuer and assigned by the Issuer to the Trustee; <br />d) The form of the Official Statement related to the Bonds; <br />e) The Bond Purchase Agreement (the 'Bond Purchase Agreement") among the <br />Issuer, Mesirow Financial, Inc. (the "Underwriter") and the Company; and; <br />f) The Arbitrage Compliance Agreement (the "Arbitrage Agreement") among the <br />Issuer, the Trustee and the Company. <br />NOW, THEREFORE, BE IT ORDAINED by the President and Board of Trustees of the <br />Village of Elk Grove Village, Cook and DuPage Counties, Illinois, as follows: <br />Findings and Determinations. The Board of Trustees hereby finds and <br />determines: <br />a) that the financing of the Project as provided in this Ordinance constitutes a valid <br />public purpose within the meaning of the Constitution and is an "economic development <br />project" under the terms of the Enabling Ordinance; and <br />b) that to secure the Bonds, the pledge and assignment by the Issuer under the <br />Indenture of certain of its rights under the Loan Agreement to the Trustee is necessary <br />and proper. <br />2. Forms of Documents. The forms of the Bonds, the Indenture, the Loan <br />Agreement, the Note and the Bond Purchase Agreement be, and they are hereby, approved. The <br />mailing of an Official Statement, preliminary and final (the "Official Statement'), by the <br />Underwriter to prospective purchasers of the Bonds is hereby ratified and approved. <br />3. The Loan. The making of the loan to the Company pursuant to the terms of the <br />Loan Agreement by the Issuer and the issuance of the Bonds by the Issuer will serve the intended <br />-2- <br />