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Name of Recipient <br /> Agreement No.: XX-XXX-550 <br /> Project No.: C-06-XXXX-XXX <br /> 3.1 Purchase and Sale of Project 10 <br /> 3.2 Amounts Payable by the Recipient. 11 <br /> 3.3 Obligation Absolute. 12 <br /> 3.4 No Obligation of the State. 12 <br /> 3.5 Disbursement of Project Funds; Availability of Funds 12 <br /> 3.6 Withholding of Disbursements and Material Violations 13 <br /> 3.7 Pledge; Rates, Fees and Charges; Additional Debt. ' / ,} 14 <br /> 3.8 Financial Management System and Standards. " 15 <br /> 3.9 Accounting and Auditing Standards. ` ' � " 15 <br /> 3.10 Federal or State Assistance. / 15 <br /> ARTICLE IV TAX COVENANTS =.� 15 <br /> 4.1 Purpose. 15 <br /> 4.2 Tax Covenant 15 <br /> 4.3 Governmental Unit. - �. �� 16 <br /> 4.4 Financing of a Capital Project �` ' 16 <br /> \ <br /> 4.5 Ownership and Operation of Project 16 <br /> 4.6 Temporary Periotl - - 16 <br /> 4.7 Working Capital. - 16 <br /> 4.8 Expenditure of Proceeds. 1 \'� 16 <br /> N <br /> 4.9 Private Use and Private Payments. - 16 <br /> 4.10 No Sale, Lease'or Private Operation of the Project. 17 <br /> 4.11 No Disproportionate or Unrelated Use. 17 <br /> 4.12 Management and Service Contracts. 17 <br /> 4.13 No Disposition of Financed Property. 19 <br /> 4.14 Useful Life of Project 19 <br /> 4.15 Installment Payments. 19 <br /> 4.16 No Other Replacement Proceeds 20 <br /> 4.17 No Sinking or Pledged Fund 20 <br />