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I. RIESOLUTION NO. 42 - Continued Loan Notes in Connection:with:Project:No Ind. R -7 and Providing for the Security for the Payment Thereof,_.and for Other Purposes, duly - adopted by the:Local Public.-Agency on the 4th day of August, 1960);: in the - -principal amount of Nine--Hundred Thousand Dollars ($900,000.00). Said note shall be designated "Project Temporary Loan Note "; shall be numbered Number 2; shall be dated the 20th -day cf February,.1962; shall.- -bear interest from the date of the acceptance of the Local Public Agency's delivery thereof and the payment therefor by the Government; shall bear a- statement at the foot thereof in substantially the following form: "Delivery of this note was accepted and payment therefor made on the day of , 19 and beh be and UNITED STATES OF AMERICA Housing and Home Finance Administrator By (Title) hall not be valid until said_ statement-is, duly- executed,'on f of the Government. .Said Project Temporary Loan Note shall livered by the City Controller to the Government to be held aid for by the Government in accordance with the terms and tions cD ntained in said Requisition --Agreement. Section 8. The proceeds derived from the sale of the Pre- liminary Loan Notes, together with such amount of other appro- priate funds of the Local Public Agency as may be necessary, shall be applied, simultaneously with the receipt of said proceeds, as follows: First: To the payment and discharge of the principal of and interest on the following Project Temporary Loan Notes of the Local Public,Agency "issued. -pursuant. to ..the Loan and:�Gr.ant = Contract- and _held or to be held by the Government for its own use and benefit on the date of the Preliminary Loan Notes herein authorized: No. Date Principal Amount 1 11 -16 -61 $425,000 -5-