No. 0023 authorizing the issuance of certain project temp. loan notes in connection with urban renewal project No. INDIANA R-7 and providing for the security for the payment thereof and for other purposes

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'Rel the I ,olution No.. 23) Section 5. That if any Project Land is leased, instead of sold, by )cal Public Agency, the reasonable and proper costs incurred from to time by the Local Public Agency during the period of such lease, Whi�h costs are for the Local Public Agency's maintenance, management, andl administration during such period of Project Land so leased, may, to the (extent necessary, be paid from those lease proceeds referred to as suc4 in Section 4 hereof which are deposited in the Project Temporary Lon Repayment Fund, but from no other moneys therein. Section6. That project Temporary Loan Notes issued pursuant to the provisions of this Resolution shall, as to both the principal thereof and the interest thereon, constitute an exclusive first lien and charge upon the funds which, by the terms of this Resolution, comprise the Proj- ect Teir,, -:, ary Loan. Repayment Fund after provision therefrom for only the costs mentioned in Section 5 hereof, which Fund, subject only to pro- vision as aforesaid, is hereby irrevocably pledged to the payment of the pri�cipal of and interest on such Project Temporary Loan Notes. Section 7. That the is hereby authorized to file requisitions, together with necessary supporting documents, with the Government, from time to time as Project Temporary or Project Capital Grant funds are required, requesting payments to be made on account of the Project Temporary Loan or the Project Capital Grint provided for in the said Contract for loan and grant, and to do and perform all other things and acts required to be done or performed in order to obtain such payments. Section 8. That, when and as directed by further resolution or resolutions, the proper officers of the Local Public Agency shall prepare, ute, and deliver to the Government the Project Temporary Loan Notes hereby authorized and shall accept payment therefor from •the Government. - 9 -