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or to make any of the required sinking fund, reserve or other payments in connection therewith and such obligations shall not constitute a lien upon any property of or in the District. SECTION 4. AUTHORIZATION OF CONSTRUCTION AND ACQUISITION OF 1988 PROJECT. There is hereby authorized the acquisition and construction of the 1988 Project pursuant to the reports and the plans and specifications of the Consulting Engineers, presently on file or to be filed with the District. The cost of the 1988 Project, in addition to the cost of the items set forth in the plans and specifications, may include, but is not limited to, the cost of the acquisition of any lands or interests therein or any other properties deemed necessary or convenient therefor, engineering, legal and -financing expenses, expenses for estimates of costs and of revenues, expenses for plans, specifications and surveys, the fees of fiscal agents, financial advisors and consultants; administrative expenses relating solely to the construction and acquisition of the 1988 Project; the capitalization of interest for a reasonable period after the issuance of the Series 1988 Bonds, the creation and establishment of reasonable reserves for debt service and operation and maintenance, the discount on the sale of the Series 1988 Bonds, and such other costs and expenses as may be necessary or incidental to the financing herein authorized and the construction and acquisition of the 1988 Project and the placing of same in operation. SECTION 5. RESOLUTION TO CONSTITUTE CONTRACT. In consideration of the acceptance of the Bonds by the Registered Owners who shall hold the same from time to time, this Resolution shall be deemed to be and shall constitute a contract between the District and such Registered Owners. The covenants and agreements herein set forth to be performed by the District shall be for the equal benefit, protection and security of the Registered Owners of the Bonds, all of which Bonds shall be of equal rank and without preference, priority or distinction with respect to any other Bonds, except as expressly provided therein and herein. SECTION 6. AUTHORIZATION AND DESCRIPTION OF BONDS. Subject and pursuant to the provisions of this Resolution, obligations of the District to be known as "Solid Waste Disposal System Revenue Bonds, Series 1988," are hereby authorized to be issued in the aggregate principal amount of not exceeding $11,000,000. The Series 1988 Bonds shall be dated as of a date to be fixed by subsequent resolution of the District and may be numbered consecutively from one upward or in such other manner as agreed upon between the District and the Bond Registrar. The Bonds shall be issued in such denominations, shall bear interest at such rate or rates, not exceeding the maximum rate authorized by applicable law, payable at such times, shall mature on such dates and in such years and in such amounts and shall have such other terms and conditions as may be determined by subsequent resolution 9