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JAN <br />4 1984� r� <br />date and shall release the IRREVOCABLE LETTER OF CREDIT if in <br />existence at that time. <br />4. It is understood by the parties that the County <br />Attorney has presented a HOME RULE ORDINANCE to the County <br />Commission and that ordinance has been adopted by the County. <br />The ordinance sets forth the authorization for the issuance by <br />the County of special assessment bonds to finance the construc- <br />tion of County improvements. The construction of the waterline <br />contemplated by this agreement falls within those categories of <br />improvements for which the County may utilize the ordinance for <br />the placement of special assessments against those lands which <br />benefit from the improvements. The documentation for the place- <br />ment of special assessment.bonds will be undertaken by bond <br />counsel for the County, County Attorney and Corporation Attorney <br />and shall be completed as soon as possible after the signing of <br />this agreement. The Corporation agrees to be responsible for the <br />cost of legal fees and other expenses incurred by the County in <br />the preparation of all necessary financial documents and court <br />validation proceedings. The Corporation will execute all docu- <br />ments necessary for the County to assess the lands to be <br />benefited by the water taps, the Corporation's share of design, <br />construction and plant reservation and incidential costs <br />thereto. <br />5. The HOME RULE ORDINANCE adopted by the County <br />authorizes the issuance of special assessment bonds consistent <br />with the provisions of Chapter 170 Florida Statutes and the <br />parties to this agreement agree to cooperate providing all docu- <br />mentation necessary to accomplish the assessment. The County <br />shall establish a procedure whereby individual landowners on <br />whose land a lien is placed by virtue of this special assessment <br />may extinguish the lien by depositing with the County sufficient <br />security to ensure timely payment of the amount of the special <br />assessment or installments thereof. The period for repayment of <br />the special assessment shall be established at ten (10) years <br />with equal annual installments due each year. <br />6. At such time the special assessment bonds are ready <br />