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contract(s) during the construction period (collectively [he "Project"), and under said installment <br />financing contract the County would secure the repayment by the County of the moneys <br />advanced pursuant to such contract by granting a security interest in and lien on all or a portion <br />of the Project; <br />WHEREAS, there have been submitted to this meeting draft forms of the following <br />documents (the "Financing Documents") with respect to the financing for the Project: <br />(1) an {Installment Financing 6eHteaeE} ,proposed to be dated on or about <br />August ~J 5, 2007 (the "Contract"), between the County and the Bank as counterparty, pursuant <br />to which the Bank will advance moneys to the County For the costs of the Project and the County <br />agrees to make periodic installment payments (the "Installment Payments") to repay the moneys <br />so advanced, with interest;~nd <br />(2) a {Deed of Trust and Security Agreement} (the "Deed of Trust"), proposed to be <br />dated on or about August ~~ 2007, among the County as Grantor, the Bank as Beneficiary and <br />the trustee named therein, by which the County would secure its obligations to the Bank under <br />the Contract;-and <br />~. . i onnv ia. <br />a <br />, , ~ a <br />a <br />WHEREAS, the obligations of the County to make Installment Payments and other <br />payments pursuant to the Contract shall constitute limited obligations of the County payable <br />solely from curcently budgeted appropriations of the County and shall not constitute a pledge of <br />the faith and credit of the County within the meaning of any constitutional debt limitation; <br />2 <br />($ <br />