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$26,481,454 pursuant to the Guaranty Agreement; provided, however, the principal amount of the Guaranteed Bonds shall not exceed $72,000,000. 2. Pledge of Full Faith and Credit. The full faith and credit of the City are hereby irrevocably pledged for the payment when due of any amounts payable by the City under the Guaranty Agreement. The Council shall levy and collect annually, at the same time and in the same manner as other taxes of the City are assessed, levied and collected, a tax upon all taxable property within the City, over and above all other taxes, authorized or limited by law and without limitation as to rate or amount, sufficient to pay when due any amounts payable by the City under the Guaranty Agreement unless other funds are lawfully available and appropriated for the timely payment thereof. 3. Designation of City Representative. For the purposes set forth in this Ordinance, the term "City Representative" shall mean the City Manager and the Chief Financial Officer, either of whom may act. 4. Approval of Guaranty Agreement. The Guaranty Agreement, the form of which has been presented to this meeting, is hereby approved, and the City Representative is authorized and directed to execute and deliver the Guaranty Agreement with such completions, omissions, insertions and changes as may be approved by such City Representative, such execution and delivery to conclusively evidence such approval. 5. Further Actions. The City Representative and such officers and agents of the City as the City Representative may designate are authorized and directed to take such further action as they deem necessary regarding the execution and delivery of the Guaranty Agreement, and all such actions previously taken by such officers and agents are ratified and confirmed. 6. Effective Date. This Ordinance shall take effect on the date of its adoption. ADOPTED by the City Council at a meeting duly called and held on May 12,2009. Teste: City Clerk