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<br />. <br /> <br />. <br /> <br />of the Contractor shall take all necessary actions consistent <br /> <br />therewith to adopt an order or resolution authorizing the <br /> <br /> <br />Contractor to contract this loan debt. and authorizing the <br /> <br />undersigned signatory to sign on behalf of the Contractor. and <br /> <br />authorizing the Contractor to use project fees. levies. or <br /> <br />other assessments as may be necessary to pay the indebtedness. <br /> <br />Such orders shall be attached hereto as Exhibit A and included <br /> <br />herein, The Contractor. through the vote of a majority of the <br /> <br /> <br />votes cast at a special election of its members held July 20. <br /> <br />1988. and a resolution of its Board of Directors. shall also <br /> <br />authorize the security interest required by the State in <br /> <br />paragraph A.B. below. The above COndi\~~~f~t be performed <br />by the Contractor prior to the St~~\~59rmi~p under this <br />contract. The special elect~~~ sum~\~,fY ~~)Ch uthorizes this <br />!:~"'),. ,..,"" <br />action is shown i~J!'.fi'\Il'l,~t Dt "a't:t,jJche' (f eto and incorporated <br />by reference hereinj:'~\\..';f') ~,ll:/:;';:~';:~ <br />V:':,-" ,- <br />\:\~ ? <br />~ <br />8. As security for the loan to be made to it by the State. <br /> <br />execute a security commitment within thirty (30) days of the <br /> <br />advance of funds from the State which shall convey to the State <br /> <br />the following: income of the District from special or general <br /> <br />assessments or levies. The Contractor agrees to take any and <br /> <br />all action necessary to guarantee payment. as shown in Exhibit <br /> <br />c. attached hereto and incorporated by reference herein. <br /> <br />9. Pursuant to its statutory powers. the approval of its <br />members and its Bylaws. including, but not limited to. a <br />special election held July 20. 1988. the Contractor, through <br />authorization granted to it by its Board of Directors as <br /> <br />provided therein. shall take all necessary actions consistent <br /> <br />therewith to levy assessments to raise sufficient funds to pay <br /> <br /> <br />this contract loan debt in a timely manner and as required by <br /> <br />the terms and conditions herein to assure repayment of the <br /> <br />project loan to the State. In the event that the assessment(s) <br /> <br />Page ~ of 11 Page <br />