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F. The principal of and interest on the Obligations and <br />all required sinking fund, reserve and.other payments shall be <br />payable solely from the Revenues derived from the operation of the <br />Facilities, and from Revenue Sharing Trust Funds, as herein provided. <br />The Issuer shall never be required to levy ad valorem taxes on any <br />property therein to pay the principal of and interest on the Obliga- <br />tions or to make any of the required -sinking fund, reserve or other <br />payments and such obligations shall not constitute a lien upon any <br />property of or in the Issuer. <br />SECTION 4. AUTHORIZATION OF CONSTRUCTION AND ACQUISITION <br />OF PROJECT AND REFUNDING OF NOTES. (a) There is hereby authorized <br />the construction and acquisition of'the project pursuant to the <br />reports and the plans and specifications of the Consulting Engineers, <br />presently on file or to be on file with the Issuer. The cost of <br />such project, in addition to.the items set forth in the plans and <br />specifications, may include, but need not be limited to the acquisition <br />of any lands or interest therein or any other properties deemed <br />necessary or convenient therefor; engineering, legal and financing <br />expenses; expenses for estimates of costs and of revenues; expenses <br />for plans, specifications and surveys; the fees of fiscal agents, <br />financial advisors or consultants; administrative expenses relating <br />solely to the construction and acquisition of the project; the <br />capitalization of interest for a reasonable period after the issuance <br />of the obligations; the creation and establishment of reasonable <br />reserves for debt service and operation and maintenance; the discount <br />on the sale of the Obligations, if applicable; and such other costs <br />and expenses as may be necessary or incidental to the financing <br />herein authorized and the construction and acquisition of the <br />project and the placing of same in operation. <br />(b) There is also hereby authorized the refunding of the <br />Outstanding Notes. <br />SECTION 5. RESOLUTION TO CONSTITUTE CONTRACT. In con- <br />sideration of the acceptance of the Obligations authorized to be <br />issued hereunder by those who shall hold the same from time to time, <br />this resolution shall be deemed to be and shall constitute a contract <br />-4- <br />NOY 2 1977 <br />Ban 1 PA` -,f 478 <br />