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and <br />the <br />Of St. Jose <br />°tae <br />the <br />Notes$ t <br />Public <br />receipt <br />ace <br />btL1X r OtIJX <br />HUD -3080 (Conttd) <br />(11 -65) <br />l mot be valid until said statement is duly executed on behalf of <br />rnment. Said Project Temporary Loan Not delivered by the Treasurer <br />tnt ex officio Treasurer of the City of ` ' 1 " to <br />rnmen o e el an p d or by the Government in accordance with <br />s and conditions contained in said Requisition Agreement. <br />tion 8. The proceeds derived from the sale of the Preliminary Loan <br />ogether with such amount of other appropriate funds of the Local <br />gency as may be necessary, shall be applied, simultaneously with the <br />of said proceeds, as follows: <br />Firsts To the payment and discharge of the principal of <br />and interest on the following Project Temporary <br />Loan Notes of the Local Public Agency - issued <br />pursuant to the Loan and Grant Contract and held <br />or to be held by the Government for its own use <br />and benefit on the date of the Preliminary Loran <br />Notes herein authorized: <br />No. Date <br />1 5 -2o -66 <br />Principal <br />Amount <br />$340,000.00 <br />Second: Any balance of such proceeds shall be deposited <br />in the appropriate account or fund established <br />pursuant to the Loan and Grant Contract and shall <br />be used only in accordance with the provisions of <br />the Loan and Grant Contract. <br />officio 'treasurer of the City of South <br />tion 9. The Treasurer -�:)f St Jose -ph Cotmty ex / is hereby Bend <br />ee•and directed to send immediately a letter to each paying agent <br />Preliminary Loan Notes in substantially the form of the Letter of <br />ions hereto attached and marked Exhibit "B" and to transmit the <br />,ary Loan Notes to said paying agent for delivery and payment in <br />ice with the terms of said letter. <br />;tion 10. This Resolution shall take effect immediately. <br />- 5 - <br />