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D <br />n <br />1986 Bond Resolution, junior to the lien of the Series 1986 Bonds <br />and the Series 1986A Bonds, as those phrases are defined herein. <br />D. The Board of the Issuer heretofore determined to acquire the <br />sanitary sewer system known as the Bent Pine Sewer System and to <br />connect the same to the combined water and sewer system of the <br />Issuer, thereby making the same a part thereof (such undertakings <br />being referred to herein as the "Bent- Pine Project"). It is <br />estimated that the period of usefulness of the facilities acquired <br />and/or constructed as part of the Bent Pine Project is at least 41 <br />years. <br />E. The Board of the Issuer has determined that it is necessary and <br />desirable to authorize the issuance of additional water and sewer <br />revenue bonds of the Issuer in an aggregate principal amount not to <br />exceed $450,000, to be designated as the "Water and Sewer Revenue <br />Bonds, Series 1986A", to finance a portion of the costs of the Bent <br />Pine Project, such bonds to be on a parity and rank equally as to <br />lien and security for payment from the Pledged Funds, as that phrase <br />is defined in the 1986 Bond Resolution, with the Series 1986 Bonds, <br />as that phrase is defined herein. <br />F. The Issuer has completed or substantially completed the Bent <br />Pine Project and the costs and expenses incurred by the Issuer in <br />connection therewith are not less than $450,000. <br />G. It is necessary and desirable to amend and supplement the 1986 <br />Bond Resolution to authorize the Series 1986A Bonds (as defined <br />herein) as set forth below. <br />SECTION 3. Amending the Caption of the 1986 Bond Resolution. The caption of <br />the 1986 Bond Resolution is hereby amended to read as follows: <br />- 3 - <br />