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officer, as such, to respond by reason of any act or omission on his or her part, or otherwise, for, <br /> directly or indirectly,the payment for or to the Board or any receiver thereof,or for or to the owner <br /> or any holder of any Bond, or otherwise, of any sum that may remain due and unpaid upon any <br /> Bond, shall be deemed to be expressly waived and released as a condition of and consideration for <br /> the execution and delivery of the Bond Documents and the issuance of the Bonds. <br /> Section 11. The Bonds are limited obligations of the Board,payable solely from <br /> the revenues and other funds and money pledged.and assigned under the Bond Documents. Neither <br /> the Board,the State of Arkansas,nor Independence County,Arkansas,nor the City,nor any public <br /> agency(except the Board,to the limited extent set forth in the Bond Documents)shall in any event <br /> be liable for the payment of the principal of, premium (if any) or interest on the Bonds, or for the <br /> performance of any pledge, obligation or agreement of any kind whatsoever except as set forth in <br /> the Bond Documents, and none of the Bonds or any of the Board's agreements or obligations shall <br /> be construed to constitute an indebtedness of or a pledge of the faith and credit of or a loan of the <br /> credit of or a moral obligation of any of the foregoing within the meaning of any constitutional or <br /> statutory provision whatsoever. The Board has no taxing power. <br /> Section 12. The Bonds shall not be issued until a public hearing is held with <br /> respect to the Bonds and until the City has approved the issuance of the Bonds. <br /> Section 13. The provisions of this Resolution are hereby declared to be <br /> separable, and if any section, phrase or provision shall for any reason be declared to be invalid, <br /> such declaration shall not affect the validity of the remainder of the sections, phrases and <br /> provisions. <br /> Section 14. All resolutions and parts thereof in conflict herewith, including <br /> specifically,but not limited,to the Resolution of the Board adopted at its special meeting February <br /> 25, 2020, are repealed to the extent of such conflict. <br /> Section 15. This Resolution shall be effective upon its passage and approval. <br /> ADOPTED: March 17, 2020. <br /> CITY OF BATESVILLE,ARKANSAS <br /> PUBLIC FACILITIES BOARD <br /> ATTEST elgajlt <br /> By <br /> Chair <br /> Secretary <br /> (SEAL) <br /> 5 <br />