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080384/45301 <br /> SECTION 3 . The bonds shall be payable solely from <br /> either the revenues derived as a result of the Project funded <br /> by the revenue bonds , including, without limitation, amounts <br /> received under the terms of any financing document or by reason <br /> of any additional security furnished by the Company in connec- <br /> tion with the financing of the Project, and/or money and other <br /> property received from private sources . Each bond shall con- <br /> tain a statement to the following effect : <br /> Neither the State, the Port of Everett , nor any other <br /> municipal corporation, quasi-municipal corporation, <br /> subdivision, or agency of the State is obligated to <br /> pay the principal of , premium, if any, or the interest <br /> on this Bond; no tax funds or governmental revenue may <br /> be used to pay the principal of, premium, if any, or <br /> interest on this Bond; and neither any or all of the <br /> faith and credit nor the taxing power of the State, <br /> the Port of Everett , the Issuer or any other municipal <br /> corporation, quasi-municipal corporation, subdivision, <br /> or agency thereof is pledged to the payment of the <br /> principal of, premium, if any, or the interest on this <br /> Bond. <br /> SECTION 4 . The Agreement in the form presented is hereby <br /> approved, and the President or the Vice President are each <br /> hereby authorized to execute and deliver the Agreement on be- <br /> half of the Issuer . <br /> SECTION 5 . The Company is authorized to commence construc- <br /> tion of such Project and advance such funds as may be necessary <br /> therefor , subject to reimbursement for all expenditures , but <br /> only out of proceeds , if any, of the issue of bonds herein <br /> authorized. <br /> -3- <br />