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<br /> 10711- <br /> SECTION 3. That the city does not agree to assume any <br /> responsibility in connection with the administration of the <br /> Authority's student loan program. Sole responsibility for the <br /> administration of the Authority's student loan program is being <br /> assumed by the Authority. <br /> SECTION 4. That it is recognized by this governing body <br /> that the instruments which authorize the issuance of Bonds by the <br /> Authority will specifically state that this city is not.obligated <br /> to pay the principal of or interest on the Bonds proposed to be <br /> issued by the Authority. Nothing in this resolution shall be <br /> construed as an indication by this city that it will payor provide <br /> for the paYment of any obligations of the said Authority whether <br /> heretofore or hereafter incurred, and in this connection, attention <br /> is called to the Constitution of Texas wherein it is provided that <br /> a city may incur no indebtedness without having made provisions for <br /> its paYment, and this city Council hereby specifically refuses to <br /> set aside any present or future funds, assets or money for the <br /> paYment of any indebtedness or obligation of the Authority. <br /> SECTION 5. That this Resolution shall be effective from <br /> and after its passage and approval. <br /> SECTION 6. That it is hereby officially found and <br /> determined that the meeting at which this resolution is passed is <br /> open to the public as required by law and that public notice of the <br /> time, place and purpose of said meeting was given as required. <br /> PASSED AND ADOPTED this 13th day of September, 1993. <br /> Mayor, Ci y of San Marcos f Texas <br /> , <br /> Texas <br /> (City Seal) <br /> 0115411 <br /> -2- <br />