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Ord 2018-017/general obligation Bonds; levying an ad valorem tax in support of the bonds; approving a paying agent/registrar agreement, an official Statement, and a purchase agreement; establishing procedures For selling and delivery of one or more series
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Ord 2018-017/general obligation Bonds; levying an ad valorem tax in support of the bonds; approving a paying agent/registrar agreement, an official Statement, and a purchase agreement; establishing procedures For selling and delivery of one or more series
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Section 23. INTERESTED PARTIES. Nothing in this Ordinance expressed or implied <br /> is intended or shall be construed to confer upon, or to give to, any person or entity, other than the <br /> City and the registered owners of the Bonds, any right,remedy or claim under or by reason of this <br /> Ordinance or any covenant,condition or stipulation hereof,and all covenants,stipulations,promises <br /> and agreements in this Ordinance contained by and on behalf of the City shall be for the sole and <br /> exclusive benefit of the City and the registered owners of the Bonds. <br /> Section 24. NO PERSONAL LIABILITY. No covenant or agreement contained in the <br /> Bonds,this Ordinance or any corollary instrument shall be deemed to be the covenant or agreement <br /> of any member of the City Council or any officer, agent, employee or representative of the City <br /> Council in his individual capacity, and neither the directors, officers, agents, employees or <br /> representatives of the City Council nor any person executing the Bonds shall be personally liable <br /> thereon or be subject to any personal liability for damages or otherwise or accountability by reason of <br /> the issuance thereof,or any actions taken or duties performed,whether by virtue of any constitution, <br /> statute or rule of law, or by the enforcement of any assessment or penalty, or otherwise, all such <br /> liability being expressly released and waived as a condition of and in consideration for the issuance <br /> of the Bonds. <br /> Section 25. SEVERABILITY. The provisions of this Ordinance are severable; and in <br /> case any one or more of the provisions of this Ordinance or the application thereof to any person or <br /> circumstance should be held to be invalid, unconstitutional, or ineffective as to any person or <br /> circumstance,the remainder of this Ordinance nevertheless shall be valid,and the application of any <br /> such invalid provision to persons or circumstances other than those as to which it is held invalid shall <br /> not be affected thereby. <br /> [THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK.] <br /> 33 <br /> SarJlarcesGOBZOIB.Or&nence00 <br />
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