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orrice. <br /> October 15,2020 <br /> Page 2 <br /> Pursuant to applicable state law, CSCDA CIA policies, and the documents providing for the <br /> issuance of bonds, the bonds will be issued as limited obligations of CSCDA CIA, not of any <br /> Charter Member or Additional Member, and payable solely out of the revenues derived from the <br /> Project being financed. Specifically, Section 8 of the Agreement provides that "[t]he Bonds, <br /> together with the interest and premium, if any, thereon, shall not be deemed to constitute a debt <br /> of any Member or pledge of the faith and credit of the Members...Neither the Members <br /> nor...shall be obligated to pay the principal of, premium, if any, or interest on the Bonds, or <br /> other costs incidental thereto..."(emphasis added). <br /> Accordingly, bonds issued for a Project located in the jurisdiction of a public entity that is or <br /> becomes a Member and approves issuance of the bonds by CSCDA CIA will not be a debt, <br /> liability or obligation of the Member but solely indebtedness of CSCDA CIA, limited to <br /> revenues from that Project which are pledged and available therefore. <br /> Please do not hesitate to contact me if you have further questions with respect to this matter. <br /> Sincerely yours, <br /> Ro r L. Davis <br /> 4160-9835-5240.2 <br />