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1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />1s <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />251 <br />26 <br />27 <br />28 <br />SECTION 5. The City hereby agrees that the City <br />shall be obligated to pay when due an amount equal to not less <br />than: (i) $500,000, being an amount equal to 1/6th of the <br />principal amount of the Financing, and (ii) an amount equal to <br />1/6th of the unpaid interest due on and owing on the Financing <br />through June 30, 1997, which amounts are equal to the <br />proportionate share of the principal amount of and interest on <br />the Financing to be due and payable by the City to the SBIAA on <br />or before June 16, 1997. <br />SECTION 6. The findings and determinations herein <br />shall be final and conclusive. This Resolution shall be <br />effective from and after the date of its adoption and shall be <br />non -repealable during the term that all or any principal amount <br />of the Financing, and accrued and unpaid interest thereon. <br />PASSED, APPROVED, and ADOPTED this 3rd day of <br />September , 1996. <br />ATTEST: <br />4;TMWA S. �DZEKLGADO64terim City Clerk <br />SBIA\0001\DOC\218 <br />8\15\96 3:00 ew <br />-7- <br />GEO V. - <br />Mayor <br />