747-17 Master Resolution for Infrastructure Sales Surtax Revenue Bond (City Hall Project), Series 2017

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The terms "herein," "hereunder," "hereby," "hereto," "hereof" and any similar terms, shall refer to this Resolution; the term heretofore shall mean before the date of adoption of this Resolution;and the term"hereafter"shall mean after the date of adoption of this Resolution. Words importing the masculine gender include every other gender. Words importing the singular number include the plural number, and vice versa. SECTION 1.02 Authority for Resolution. This Resolution is adopted pursuant to the provisions of the Act. SECTION 1.03 Resolution to Constitute Contract. In consideration of the purchase and acceptance of any or all of the Bonds by those who shall hold the same from time to time, the provisions of the Resolution shall be a part of the contract of the Issuer with the Holders of the Bonds and shall be deemed to be and shall constitute a contract between the Issuer and the Holders from time to time of the Bonds. The pledge made in the Resolution and the provisions, covenants and agreements herein set forth to be performed by or on behalf of the Issuer shall be for the equal benefit, protection and security of the Holders of any and all of said Bonds and the Insurers. All of the Bonds, regardless of the time or times of their issuance or maturity, shall be of equal rank without preference, priority or distinction of any of the Bonds over any other thereof except as expressly provided in or pursuant to the Resolution. SECTION 1.04 Findings. It is hereby ascertained, determined and declared: 1. That the Issuer deems it necessary, desirable and in the best interests of the Issuer and its citizens and to serve a paramount public purpose that the Initial Project be constructed, designed,permitted,reconstructed, acquired and equipped. 2. That all or a portion of the Initial Project shall be financed by and/or reimbursed from the proceeds of the Series 2017 Bond. 3. That the purposes for which the Bonds are being issued include the promotion of the public health,welfare, safety and social benefit to the Issuer and its citizens. 4. That, as of the date hereof,the Pledged Revenues are not pledged or encumbered in any manner and are estimated to be sufficient to pay the principal of and interest on the Series 2017 Bond, as the same become due, and all other payments provided for in this Resolution. 5. That the principal of and interest on the Bonds and all other payments provided for in this Resolution will be payable solely from the Pledged Funds (including such additional security as may be provided pursuant to Supplemental Resolution); and the ad valorem taxing power of the Issuer will never be necessary or authorized to pay the principal of and interest on the Bonds and, except as otherwise provided herein, the Bonds shall not constitute a lien upon any property of the Issuer. SECTION 1.05 Authorization of the Initial Project. The Issuer does hereby authorize the temporary relocation, designing, permitting, acquisition, construction, reconstruction and/or equipping of the capital improvements which comprise the Initial Project. 6