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<br />. , <br /> <br />sufficient to pay the annual interest and extingUiSh~~J[Ib~nal <br />of the Loan Contract pursuant to its terms and to dis~~is <br />lawful indebtedness; and {1\T. . . <br /> <br />Section 4. That the revenues generated by ti~AjfClbl~IJr) <br />(the "Assessment Revenues"), when collected, shall be applied o~ <br />towards repayment of the Loan Contract until the indebtedness is <br />paid and discharged; and <br /> <br />Section S. That the Board of Trustees hereby authorizes the <br />Borrower to set aside the assessment revenues in a special fund <br />separate and apart from other Borrower revenues to assure repayment <br />cf this revenue to the State; and <br /> <br />Section 6. That the Board of Trustees hereby authorizes the <br />Borrower to execute a Security Agreement creating a security <br />interest in the Assessment Revenues in favor of the State to secure <br />the repayment; and <br /> <br />Section 7. That this ordinance shall be irrepealable until <br />the Loan Debt is fully paid or discharged. <br /> <br />INTRODUCED, PASSED, APPROVED AND ADOPTED on this /~_ gay <br />of '1t~~ , 1994, by a vote of ~ for and--'-- <br />against. <br /> <br />ATTEST: <br /> <br />~aA. ~. ~b:. <br /> <br />Susan C. Haight, T n Clerk <br /> <br />TOWN OF MONUMENT <br /> <br />ff~~u/W-- <br /> <br />Charles H. Wilson, Mayor <br />