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.0 <br />this Resolution shall not constitute a lien upon any properties <br />of the Board or any properties of or in the County. <br />SECTION 4. RESOLUTION TO CONSTITUTE CONTRACT. In con- <br />sideration of the acceptance of the Obligations authorized to be <br />issued hereunder by those who shall hold the same from time to <br />time, this Resolution shall be deemed to be and shall constitute <br />a contract between the County and such Holders. The covenants <br />and agreements herein set forth to be performed by the County <br />shall be for the equal benefit, protection and security of the <br />legal Holders of any and all of such Obligations and the coupons <br />attached thereto, all of which shall be of equal rank and without <br />preference, priority, or distinction of any of the Obligations or <br />coupons over any other thereof, except as expressly provided <br />therein and herein. <br />SECTION 5. AUTHORIZATION OF OBLIGATIONS. Subject and <br />pursuant to the provisions of this Resolution, obligations of the <br />County to be known as "Capital Improvement Revenue Bonds, Series <br />1980" herein sometimes referred to as "Obligations," are hereby <br />authorized to be issued in an aggregate principal amount not <br />exceeding Four Million Three Hundred Fifty Thousand Dollars <br />($4,350,000). <br />SECTION 6. DESCRIPTION OF OBLIGATIONS. The Obligations <br />shall be numbered consecutively from one upward; shall be in the <br />denomination of $5,000 each; shall be dated; shall bear interest, <br />payable semi-annually, at such rate or rates not exceeding the <br />maximum legal rate allowable by law; and shall mature on such <br />date in such years and amounts, all as shall be determined by <br />subsequent resolution of the Board adopted on or prior to the <br />sale of the Obligations. Such Obligations shall be issued in <br />coupon form; shall be payable with respect to both principal and <br />interest at a place or places to be determined by the Board prior <br />to the delivery of. the Obligations; shall be payable in lawful <br />money of the United States of America; and shall bear interest <br />from their date, payable in accordance with and upon surrender of <br />-5- <br />