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security for payment of installments of principal and interest coming due on the <br />aforesaid Bonds of District and LAVWMA, respectively; and <br />WHEREAS, the revenues so pledged and to be pledged are derived from <br />the uniform Regional Connection Fees and uniform Regional Service Charges <br />imposed by District and City within their respective wastewater service areas; <br />and <br />WHEREAS, the Regional Connection Fees and Regional Service <br />Charges so collected are deposited in District's Regional Expansion Fund and <br />Regional Maintenance and Operation Fund, respectively, established pursuant <br />to the Regional Agreement; and <br />WHEREAS, paragraph 10 (e) of the Regional Agreement provides that <br />the parties may enter into separate agreements in connection with financing the <br />expansion of regional facilities; and <br />WHEREAS, the Regional Expansion Fund shall also be deemed the Rate <br />Stabilization Fund as hereinafter in paragraph 7 provided; <br />WHEREAS, notwithstanding the provisions hereof relating to debt <br />financing, the parties acknowledge and agree that monies on deposit in the <br />Regional Expansion Fund may be used directly for the acquisition, construction, <br />and improvement of Regional Facilities Expansion Projects without the necessity <br />of debt financing; and <br />WHEREAS, the parties hereby desire to establish requirements and <br />procedures pursuant to which District shall manage the Regional Expansion <br />Fund/Rate Stabilization Fund under the Regional Agreement in compliance with <br />covenants and agreements pertaining to the aforesaid Bonds and in furtherance <br />of the Regional Agreement; <br />Agmt-41 2 <br />f/sh/sh/DSRSD <br />DES:r <br />12/5/~OOr <br />