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ARTICLE III
<br />AUTlll::NTICA'rION AND DSLIV8RY OF BONDS
<br />Section J,l Limitation of Princi al Amount of 13onds;
<br />uon~s 31.!cured. The aggregate principal amount o Oonds which may
<br />b~ JX~~u~d~ 0y the Issuer and authenticated by the Trustee and
<br />-l1.!Li•1 lrt.!d ,1nd secured by this Indenture is not limited, except as
<br />is .Jr ·:1t1y :1erea.Eter be provided in this Indenture or as may be
<br />li~ita~ by law. All Bonds issued and to be issued hereunder are,
<br />.1n..l ,lr-~ to be, to the extent provider' in this Indenture, equally
<br />,:i.n,I ~.:i.t.:i.bly secured by this Indenture without preference,
<br />pri~ri~/ or Jistinction on account of the actual time or times of
<br />t!1e 1uth-?ntication or delivery or maturity of the Bonds, or any
<br />')t ~he~, so th~t, except as is or may hereafter be provided in
<br />tn~3 :~J~nture or as may be limited by law, all Bonds at any time
<br />~utst.:i.nJinq hereunder shall have the same right, Lien and pre-
<br />f<H,~:1ce ,rnder anJ by virtue of this Indenture and shall all be
<br />~4u~lly lnd ratably secured hereby with like effect as if they
<br />h-1d ill :,een e;<ecuted, authenticated an::i deliverou simultaneously
<br />on the .late hereof, whether the same, or any of them shall
<br />1ctu1llr be issueu on such date, or whether they, or any of them,
<br />sh~ll oe L3sued on some future date, or whether they, or any of
<br />t~em, sn3ll have been authorized to be authenticated and deli-
<br />vere•l un,icr Section 3. 2 or may be authorize<l to be authenticated
<br />an.l ,leli'l'?reu hereafter pursuant to Sections 2.5, 2,6, 2,8, 2.9,
<br />J,J, 0r J,4 of this Indenture.
<br />Section 3.2 Authentication and Delivery of Bonds .
<br />~onJs, to be designated Series 1903, in the aggregate principal
<br />~~aunt ~f ~2,~00,000, shall be executed by the Issuer, delivered
<br />to the Tru~tee for authentication, authenticated by the Trustee
<br />anu Jelivered to the purchaser or purchasers thereof, but only
<br />upon the receipt by the Trustee of the proceeds of the sale of
<br />the ilonJs . .,,hich shall be deposited in the Project Fund. Prior to
<br />authentication and delivery of the Oonds, the Trustee shall also
<br />h~v~ recuived the following:
<br />(a) a copy of the resolution or resolutions a<lopted by
<br />the ilo,1r J :,f County Commissioners of the Issuer authorizing the
<br />~xccucion and delivery of the Loan Agreement t1nd this Indenture
<br />and th~ i.;su::i.nce, sale anu delivery of the 13onds, ,luly Cl:lr.tifie,l
<br />b:,' till! ..::teri:. of such uourJ, under its official seal, to have been
<br />dul1 ~doptcd by the Issuer:
<br />( i)) .::i 'n'ritten or,Jer of the Chu i.rman of the □oaru of
<br />..:cunt·/ :;ommissioners or other officec-of t:.he Issuer, which may be
<br />conta1n~,l in 3ny closin3 certificate, requesting and authori~ing
<br />-31-
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