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from using to the extent lawfully authorized to do so, any other resources for <br />the fulfillment of any of the terms, conditions or obligations of the Bond <br />Legislation or of the Bond. <br />Section 5. Sale of Bond. The Bond is sold and awarded to the Origi- <br />nal Purchaser at a purchase price equal to the par value thereof. The <br />Executive, the Fiscal Officer and the Clerk of the Legislative Authority are <br />authorized and directed to.make the necessary arrangements with the Original <br />Purchaser to establish the date, location, procedure and conditions for the <br />delivery of the Bond to the Original Purchaser, and to take all steps <br />necessary to effect due execution and delivery'to the Original Purchaser of <br />the Bond under the terms of this Bond Legislation. It is hereby determined <br />that the price for and the terms of the Bond, and the sale thereof, all as <br />provided in this Bond Legislation, are in the best interest of the Issuer and <br />in compliance with all legal requirements. <br />Section 6. Allocation of Proceeds of Bond. The proceeds from the <br />sale of the Bond shall be paid to the Company, pending disbursement pursuant <br />to Section 3.4 of the Loan Agreement. The Holder is authorized and directed <br />to make any such disbursement from the proceeds of the Bond in accordance with <br />the provisions of.the Agreement and.the Assignment. <br />Section 7. Assignment of Revenues. The Issuer hereby assigns its <br />right, title and interest in all Revenues to the Holder as security for the <br />payment of the Bond service charges, including, without limitation, all Loan <br />Payments which under the terms of the Agreement and the Note are to be paid by <br />the Company directly to the Holder for application to the payment of such Bond <br />service charges. Such assignment shall be, and is intended to be, immediately <br />effective without further action; provided that, the Issuer shall execute and <br />deliver the Assignment and shall take such other action as may be deemed <br />necessary or appropriate by the Legal Officer to further evidence such assign- <br />ment. <br />Section 8. Covenants and Representations of Issuer. In addition to <br />other covenants and representations of the Issuer contained in this Bond <br />Legislation, the Issuer covenants and agrees that: <br />(a) Payment of Bond Service Charges. The Issuer will, solely from <br />the sources herein provided, pay or cause to be paid the Bond service charges <br />on the dates, at the place3 and in the manner provided herein and in the Bond. <br />, (b) Performance of Covenants, Issuer and Actions: The Issuer will <br />at all times faithfully otaerve and perform all agreements, covenants, under- <br />ta::ings, stipulations and provisions contained in the Agreement, the Assign- <br />ment, this Bond Legislation and the Bond and all proceedings of its Legis- <br />lative Authority pertaining thereto, on its part to be performed or observed. <br />The Issuer represents that it is, and upon delivery of the Bond covenants that <br />it will be, duly authorized by the Constitution and laws of the State includ- <br />ing particularly and without limitation the Act, to issue the Bond, to execute <br />and enter into the Agreement and the Assignment and to provide the security <br />for payment of the Bond service charges in the manner and to the extent herein <br />and in the Bond set forth; that all actions on its part for the issuance of <br />8