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the requisite assessment district costs. Tf bond principal and interest <br />payments which are properly the oblic}ation of t}ie City pursuant to <br />this agreement arc made by the Developer or its successors because of <br />insufficiency at any time of payments from the Special Fund to the <br />redemption fund of the respective district, the Developer or its successor <br />shall be reimbursed for such payments (plus interest at seven percent per <br />annum) from the respective redemption fund; such reimbursement shall be <br />made when the redemption fund has moneys in excess of one year's princi- <br />pal and interest obligations of the City and to the extent of such excess <br />until all such payments have been reimbursed. <br />3. L11Tl1tatlOriS on Obligations of the City. The obligations <br />of the City under this agreement to form and maintain the Special Fund <br />and the obligation to contribute from such Special Fund to the re- <br />demption funds of Assessment Districts No. 1974-2 and No. 1974-4 shall <br />in no way be general obligations or indebtedness of the City nor shall <br />they in any way constitute a pledge of the credit or assets of the <br />City, or other sales or use taxes generated elsewhere in the City. Said <br />obligations shall be satisfied solely from the Special Fund created by <br />one-half of the City's share of the sales and use tax revenues generated <br />by retail sales or uses by bu:~inesses located in the Shopping Center. <br />4. Resolution of City Council. In connection with formation <br />of Assessment Districts No. 1974-2 and [Vo. 1974-4, the City by ordinance <br />of its Council shall provide, pursuant to Streets and highways Code <br />X10205, that the City shall make tYie contribution set forth in Paragraph <br />III-E-2 above. Such ordinance shall in form and content satisfy the <br />condition of X10205 of the Streets and Highways Code. <br />5. Legal Opinion. City and Stones on must receive the <br />unqualified approving legal opinion of Messrs. Sturgis, Den-Dulk, Douglass <br />& Anderson as to the validity of the Assessment Districts and the bonds <br />issued pursuant thereto. <br />- 9 - <br />F <br />