Resolution 2532 - Laserfiche WebLink

080384/45311 in good repair and keeping it properly insured. The Issuer will cooperate to its fullest extent in consummating the trans- actions so contemplated and in attempting to realize the desire of the parties hereto that interest on all Bonds be exempt from federal income taxation. 4 . Bonds to be Special Obligations . The Issuer shall have no financial responsibility with respect to the Project, the Bonds or the costs associated with either , and the Bonds shall be limited obligations of the Issuer and shall never constitute a general obligation, indebtedness or pledge of the credit of the Issuer within the meaning of any constitutional or statutory limitation and shall not constitute or give rise to a charge against the general credit or taxing power of the Issuer or any pecuniary liability of the Issuer . The Bonds shall be payable solely from either the revenues derived as a result of the Project funded by the revenue bonds, including, without limitation, amounts received under the terms of any financing document or by reason of any additional security furnished by the Company in connection with the financing of the Project , and/or money and other property received from private sources . Each bond shall contain a statement to the following effect : Neither the State, the Port of Everett , or any other municipal corporation, quasi-municipal corporation, subdivision, or agency of the State is obligated to pay the principal of , premium, if any, or the interest on this Bond; no tax funds or governmental revenue may be used to pay the principal of , premium, if any, or -5-