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SECTION
<br />to borrow and
<br />principal amount
<br />1. AMOUNT AND PURPOSES. The Local Public Agency hereby determines
<br />there is hereby authorized to be borrowed a sum not to exceed the
<br />outstanding at any one time of OM NUUMA V~ _Huaft"
<br />nced by outstanding Project Temporary Loan Obligations hereinafter
<br />whether evid
<br />called "Project
<br />Temporary Loan Notes "), Preliminary Loan Notes, or Project Definitive
<br />an Obligations,
<br />as those terms are used in the Loan and Grant Contract: Provided,
<br />That, for the
<br />purposes of this Resolution, said maximum principal amount shall be
<br />increased or
<br />decreased to a sum determined with certainty under the provisions of
<br />Section 12 hereof.
<br />To the.extent feasible, and without limiting the powers of the
<br />Local Public
<br />Agency to borrow funds directly from the Government under the terms
<br />of the Loan
<br />and Grant Contract, such borrowings, exclusive of borrowings evidenced
<br />by Project Definitive
<br />Loan•Oblgations', shail.be evidenced'by obligations of the
<br />Local Public
<br />Agency issued, sold, and delivered pursuant to the authority of this
<br />Resolution,
<br />and the funds so borrowed shall be borrowed for and used to'defray
<br />expenses an
<br />costs incurred or to be incurred in the Local Public Agency's under-
<br />taking and carrying
<br />out of the Project, or to retire, refund, renew, or extend
<br />its outstanding
<br />Project Temporary Loan Notes, if any, and outstanding Preliminary
<br />Loan Notes,
<br />if any, as hereinafter more fully provided.
<br />SECTION
<br />2. AUTHORIZATION AND DETAILS OF NOTES'. There shall be and hereby
<br />are authorized
<br />to be issued, sold, and delivered from time to time, as funds _.are',
<br />needed for any
<br />one or more of the aforesaid purposes, the negotiable, short -term
<br />special obligations
<br />(hereinafter called the "Notes ") of the Local Public Agency
<br />payable to the
<br />bearer, each of which shall be designated "Preliminary Loan Note
<br />and each separate
<br />issue of the Notes shall be further identified by a series
<br />designation
<br />from "First Series" upward in order of issuance and in relation to
<br />she Project
<br />and previous issues of Preliminary Loan Notes, if any, followed by
<br />the letter designation",
<br />"• The Notes shall be issued in substantially the
<br />form of Pre
<br />iminhry Loan Note attached hereto and marked "Exhibit A ", with the
<br />blank spaces
<br />therein completed as required by this Resolution and the facts.
<br />surrounding
<br />each specific series of Notes, and the terms and conditions of said
<br />form of Preliminary
<br />Loan Note are hereby adopted as-though the same were set
<br />forth in full
<br />in the text of this Resolution. Each of the Notes shall have
<br />endorsed thereon
<br />a payment agreement on behalf of the United States in substan-
<br />tially the
<br />form of the Payment Agreement appearing on the reverse of said
<br />"Exhibit A"
<br />the
<br />of the Loca:
<br />is hereby a
<br />of estimate .
<br />orderly fin
<br />whole or in
<br />Loan Notes
<br />with estima
<br />Provided, T
<br />upward to t
<br />certain, wh
<br />satisfacto
<br />shall bear
<br />date certa
<br />OF SERFS . OF_ NOTES . The or
<br />the of on behalf
<br />Public blic Agency (herein respectively called the Authorized Officer ")
<br />ithorized and directed to determine from time to time, and on the basis
<br />>, the amount of Project Temporary Loan funds required to provide for the
<br />Erasing of the Project, including funds to retire, refund, or extend in
<br />part, outstanding Project Temporary Loan Notes and outstanding Preliminary
<br />>f the Local Public Agency, if any; and to requisition such funds, together
<br />;ed interest thereon, from the Government under the Loan and Grant Contract
<br />iat, for the convenience of financing, said estimate shall be rounded
<br />ie next multiple of $1,000. Each such estimate shall cover a time period
<br />Lch shall be not less than approximately 90 days and not more than
<br />Ly 380 days, in relation to a financing schedule otherwise mutually
<br />T to the Authorized Officer and the Government. Each series of the Notes
<br />the date of the commencement of said time period and shall mature on a
<br />z upon the expiration of such period under said financing schedule.
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