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and render a legal opinion on the tax exemption of the interest <br /> on the Bonds, with fees estimated at $40,000 hereby approved, to <br /> be paid by the Owner and the Purchaser upon the closing of the <br /> transfer. <br /> <br /> 6. The Owner having requested that, upon the closing of <br /> the transfer inclusive of the assumption by the Purchaser of all <br /> liabilities, obligations and covenants, even as to occurrences <br /> prior to the transfer, the Owner be released, the Authorized <br /> Issuer Representative is authorized to sign and deliver such a <br /> release if upon investigation the Authorized Issuer <br /> Representative determines that there are no known claims, <br /> contingent or otherwise, of the City against the Owner and that <br /> should any arise, the Purchaser's assets are likely to be <br /> sufficient to pay them. <br /> <br /> Passed and adopted by the City Council of the City of <br /> Redwood City at a meeting thereof held on the day <br /> of , 199_, by the following vote: <br /> <br /> AYES: Councilmen <br /> <br /> ABSENT: Councilmen <br /> <br /> ABSTAIN: Councilmen <br /> <br /> ABSENT: Councilmen <br /> <br /> NOT PARTICIPATING: Councilmen <br /> <br /> Mayor of the City of Redwood city <br /> <br />Attest: <br /> <br />Clerk of the City of Redwood City <br /> <br /> I hereby approve the foregoing <br /> <br /> this __ day <br /> of , 199 . <br /> <br /> Mayor of the City of Redwood City <br /> <br />RC(1)Res.PI'oV. -- 4 - <br /> <br /> <br />