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• • SECTION 5. Authorization for the 1987 Project. The 1987 Project is hereby authorized in accordance with plans and specifications presently on file or to be placed on file with the Issuer. SECTION 6. Authorization of the Series 1987 Bonds. Subject and pursuant to the provisions of this Resolution, special revenue obligations of the Issuer to be known as "Capital Improvement Revenue Bonds, Series 1987" are hereby authorized to be issued in the maximum aggregate principal amount of Three Million Eight Hundred Thousand Dollars ($3,800,000), which obligations are authorized to be issued as the second installment of the Bonds authorized under the Master Bond Resolution. Said obligations shall have an equal lien upon the Pledged Funds and shall rank equally in all respects with the Series 1985 Bonds and such other Bonds as may be issued under or pursuant to the Master Bond Resolution, from time to time. SECTION 7. Description of the Series 1987 Bonds. The Series 1987 Bonds shall be issued in such denominations, bear interest at such rates not exceeding the maximum rate authorized by applicable law, be payable at such times, mature on such dates in such years and in such amounts and contain such redemption provisions as shall be fixed by subsequent resolution of the County not later than the sale of the Series 1987 Bonds. The Series 1987 Bonds shall be substantially in the form set forth and as described in the Master Bond Resolution, with such omissions, insertions and variations as may be necessary, desirable, authorized and permitted by the Master Bond Resolution and this Resolution. Except as provided herein, the Series 1987 Bonds shall contain all provisions, shall be in the manner spgcified by, and shall be subject to the conditions set forth j.n the Master Bond Resolution. SECTION 8. Authorization for Investment Agreement The County shall enter into an Investment Agreement governing the application and investment of - 5 -