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<br />Section 6. <br /> <br />Disoosition of Assets. <br /> <br />At the end of the term hereof or upon the earlier <br />termination of this Agreement as set forth in Section 2 hereof, <br />after payment of all expenses and liabilities of the Authority, <br />all property of the Authority both real and personal shall <br />automatically vest in the Program Participants and shall <br />thereafter remain the sole property of the Program <br />Participants; provided, however, that any surplus money on <br />hand shall be returned in proportion to the contributions made <br />by the Program Participants. <br /> <br />Section 7. <br /> <br />Bonds. <br /> <br />The Authority shall issue Bonds for the purpose of <br />exercising its powers and raising the funds necessary to carry <br />out its purposes under this Agreement. Said Bonds may, at <br />the discretion of Authority, be issued in series. <br /> <br />The services of bond counsel, financing consultants <br />and other consultants and advisors working on the projects <br />and/or their financing shall be used by the Authority. The <br />fees and expenses of such counsel, consultants, advisors, and <br />the expenses of CSAC, LCC, and the Commission shall be paid <br />from the proceeds of the Bonds or any other unencumbered <br />funds of the Authority available for such purpose. <br /> <br />Section 9. <br /> <br />Local Aooroval. <br /> <br />A copy of the application for financing of a project <br />shall be filed by the Authority with the Program Participant in <br />whose jurisdiction the project is to be located. The Authority <br />shall not issue Bonds with respect to any project unless the <br />governing body of the Program Participant in whose <br />jurisdiction the project is to be located, or its duly authorized <br />designee, shall approve, conditionally or unconditionally, the <br />project, including the issuance of Bonds therefor. Action to <br />approve or disapprove a project shall be taken within 45 days <br />of the filing with the Program Participant. Certification of <br />approval or disapproval shall be made by the clerk of the <br />governing body of the Program Participant, or by such other <br />officer as may be designated by the applicable Program <br />Participant, to the Authority. <br /> <br />Section 8. Bonds Onlv Limited and Soecial <br />Obliaations of Authoritv. <br /> <br />The Bonds, together with the interest and premium, <br />if any, thereon, shall not be deemed to constitute a debt of <br />any Program Participant, CSAC, or LCC or pledge of the faith <br />and credit of the Program Participants, CSAC, LCC, or the <br /> <br />8 <br />