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� � s <br />and secured by a lien upon and pledge of the proceeds to be derivo(I <br />from the sale of the Bonds and, ; r" necessary, the Pledged Funds. <br />SECTION 2. RESOLU''I::_': 'i":, CONSTITt'TL; CCN'1NLNCT. In <br />consideration of the acceptance cif the Notes uy triose who shall hol'i <br />the same from time to time, this rc:'solution shall be deemed to be <br />and shall constitute a contract between the Issuor and such Holders. <br />The covenants and agreements herein set forth to be performed by the <br />Issuer shall be for the equal benefit, protection and security of the <br />legal holders of the Notes, all. of which shall. he of equal rank and <br />without preference, priority or distinction of: any of the Notes over <br />any other thereof, except as expressly provided therein and herein. <br />SECTION 3. AUTHORIZATION OF NOTES. Tho re are hereby <br />authorized to be issued Water and Sewer Revonue Bonds, Second Series <br />1979, Anticipation Notes of the Tssuer in an aggregate principal <br />amount not exceeding Two Itundred Thirty -Six Thousand Dollars <br />($236,000). The Notes shall be dated as of the dates of their <br />respective deliveries to the initial purchasers thereof, shall <br />mature on or prior to January 30, 1932, and �:ay be in such denomina- <br />tion or denominations as shall be acceptable to such purchasers. They <br />Notes shall be payable at such bang or banks, shall bear such rate <br />or rates of interest not exceeding the legal rate and shall be in <br />substantially the following form, with only such omissions, inser- <br />tions and variations as may he necessary and desiral)le Land approv(2d <br />by the Chairman of the Board of County Conmissioners of the Issuer <br />prior to the issuance.. the=moi- (whish approval mzy ho presumed by leis <br />execution of the Notes and the delivery of the Notes to the purchaser <br />thereof): <br />-2- <br />jA N 2 81981 <br />