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associated with environmental compliance and/or <br /> liability for the Facilities and Infrastructure; and <br /> <br /> (c) The approval of all required state and <br /> federal regulatory authorities, and all permits or <br /> other documents required by law shall have been <br /> obtained to the extent then available, and, if <br /> necessary, the approval of the owner of any general <br /> obligation or revenue bonds secured in part by the <br /> Facilities and Infrastructure shall have been obtained. <br /> <br />All operational expenses and costs incurred in the ordinary <br />course shall be paid current through the effective date of such <br />leases by the party or parties incurring same, and the sum of the <br />outstanding general obligation or revenue bond, note or like <br />obligations assumed by the Authority on the effective date of <br />such leases shall be no greater than the sum which exists on the <br />effective date of this Agreement. <br /> <br /> Concord and Cabarrus intend to discuss with the <br />Environmental Protection Agency (the "EPA") the transfer to the <br />Authority of those elements of the Facilities and Infrastructure <br />originally funded in part by grants from the EPA instead of their <br />lease as provided hereinabove and, if possible, to obtain the <br />consent of the EPA, if required, to such transfer. If such <br />consent is obtained, subject to the provisions of the Articles of <br />Incorporation of the Authority, Concord and Cabarrus County <br />intend to effectuate such transfer to the Authority of the <br />Facilities and Infrastructure, instead of their lease, and to <br />amend this Agreement accordingly. <br /> <br /> <br />