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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 />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26, <br />27 <br />28 <br />SECTION 3. The execution and delivery of the Bonds shall be subject to the <br />approval by the Authority of all financing documents relating thereto to which the Authority <br />is a party and subject to the sale of the Bonds by the Authority. <br />SECTION 4. The adoption of this Resolution is solely for the purpose of meeting the <br />requirements of the Code and shall not be construed in any other manner, the City nor its staff <br />having fully reviewed or considered the financial feasibility of the Project or the expected <br />financing or operation of the Project with regards to any State of California statutory <br />requirements, and such adoption shall not obligate (i) the City to provide financing to the <br />Borrower for the acquisition, rehabilitation and development of the Project or to execute and <br />deliver the Bonds for purposes of such financing; or (ii) the City, or any department of the <br />City, to approve any application or request for, or take any other action in connection with, <br />any environmental, General Plan, zoning or any other permit or other action necessary for the <br />acquisition, rehabilitation, development or operation of the Project. <br />SECTION 5. The City Clerk of the City shall forward a certified copy of this <br />Resolution and a copy of the affidavit of publication of the public hearing notice to: <br />Thomas A. Downey <br />The Orrick Building <br />Orrick, Herrington & Sutcliffe LLP <br />405 Howard Street <br />San Francisco, California 94105 <br />SECTION 6. If any provision of this Resolution or the application of any such <br />provision to any person or circumstance is held invalid, such invalidity shall not affect other <br />provisions or applications of this Resolution that can be given effect without the invalid <br />provision or application, and to this end the provisions of this Resolution are severable. The <br />City Council declares that the City Council would have adopted this Resolution irrespective <br />of the invalidity of any particular portion of this Resolution. <br />SECTION 7. The City Clerk shall certify to the adoption of this Resolution, which <br />shall take effect immediately upon its adoption. <br />PASSED, APPROVED AND ADOPTED this 16th day of July, 2013. <br />ATTEST: <br />EILEEN C. GOMEZ, CMC <br />City Clerk <br />[2] <br />S. <br />