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<br />4. The Facilities will be suitable for multifamily rental <br />housing within the meaning of t~e Financing Law. The Project, <br />inclusive of the provision of r,venue financing, is otherwise in <br />accord wi~h ~he purposes and re~uiremen~s of ~he Financing Law, <br />including the provisions of the Financing Law regarding issuance of <br />bonds. <br /> <br />5. It is the intention of this Authority to undertake the <br /> <br />Project, inclusive of the provi~ion of Financing, subject to the <br />conditions that mutually accept~ble terms for the Bonds and for the <br />sale and delivery thereof, mutu*lly acceptable terms and conditions <br />for the agreements relating to the financing, including a <br />regulatory agreement, and all a~plicable requirements of law and <br />governmental approvals, shall h~ve been first observed or obtained. <br />6. The Assistant Secre~ary shall at appropriate times give <br />the notices required by the Fin~ncing Law and such other notices as <br />in the judgment of such Assista~t Secretary are desirable, with <br />reference to the Project, the F~cilities, or the Bonds. <br />7. (a) None of the Boqds shall be deemed to constitute a <br />debt of the Authority or the Ci~y, or a pledge of the faith and <br />credit of the Authority or the City but shall be payable solely <br />from the funds provided therefo~ in the proceedings. The issuance <br />of the Bonds shall not directly or indirectly or contingently <br />obligate the Authority or the C~ty to levy or to pledge any form of <br /> <br />taxation whatsoever therefor or to make any appropriation for their <br /> <br />payment. <br /> <br />(b) The Bonds shal~ be only a revenue obligation of <br />the Authority and the Authority shall under no circumstances be <br /> <br />MFH0036.RWC/4 <br /> <br />-3- <br /> <br />06/12/85 <br />