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. <br />agreements set forth herein and in the Loan Agreement and the <br />Indenture to be performed by the Issuer shall be for the equal <br />and ratable benefit and security of all holders of the Bonds <br />without privilege, priority or distinction as to lien or other- <br />wise of any of the Bonds over any other of the•Bonds. <br />SECTION 18. SEVERABILITY OF INVALID PROVISIONS. If any <br />one or more of the covenants, agreements or provisions herein -con- <br />tained shall be held contrary to any express provisions of law or <br />contrary to the policy of express law, though not expressly <br />prohibited, or against public policy, or shall for any reason <br />whatsoever be held invalid, then such covenants, agreements or <br />provisions shall be null and 'void and shall be deemed separable <br />from the remaining covenants, agreements or provisions and shall <br />in no way affect the validity of any of the other provisions <br />hereof or of the Bonds issued hereunder. <br />SECTION 19. REPEALING CLAUSE. All resolutions or parts <br />thereof of the Issuer in conflict with the provisions herein con- <br />tained are, to the extent of such conflict, hereby superseded and <br />repealed. <br />SECTION 20. EFFECTIVE DATE. This resolution shall take <br />effect immediately upon its adoption. <br />The foregoing resolution was <br />Scurlock who moved its adoption. <br />by Commissioner Bowman and, <br />the vote was as follows: <br />Chairman Richard N. Bird <br />Vice Chairman Don, C. Scurlock, <br />Commissioner Margaret C. Bowman <br />Commissioner Patrick B. Lyons <br />Commissioner William C. Wodtke, <br />offered by Commissioner <br />The motion was seconded <br />upon being put to a vote, <br />Jr. <br />Jr. <br />Aye <br />Aye <br />Aye <br />Aye <br />Absent <br />The Chairman thereupon declared the resolution duly <br />passed and adopted this 19thday of October 1983. <br />-7- <br />OCT 19 1983 BOX 55 14E 127 <br />