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, � 5 . <br /> the Renewal, Replacement and Improvement Account as hereinafter <br /> and in the Bond Resolution provided, it is necessary for the <br /> parties hereto to enter into a lease, whereby the Commission will <br /> , lease to the County and the City the Project during the term and <br /> upon the rentals as hereinafter set forth; and <br /> WHEREFORE, in consideration of the rents reserved here- <br /> under, and the promises and the covenants herein made by each of <br /> the parties hereto, and for other good and valuable considera- <br /> tion, it is covenanted and agreed by the said parties hereto as <br /> follows: <br /> SECTION I <br /> Financing and Construction of Project , <br /> To accomplish the construction of the Project and the I <br /> financing thereof in accordance with the provisions of the Act <br /> and the Bond Resolution, the following actions will be taken by <br /> the respective parties: <br /> A. The City and the County shall have, upon the <br /> execution of this Agreement or prior thereto, contracted with the <br /> Commission to convey fee simple title to the described premises <br /> to the Commission. <br /> B. The following actions shall be taken by the Com- <br /> mission: <br /> 1. The Commission shall, with reason- <br /> able promptness, upon the execution of this <br /> Lease, and pursuant to the provisions of <br /> Section 15 of the Act, provide for the autho- <br /> rization, sale, execution and delivery by the <br /> Commission of revenue bonds in the principal <br /> amount of $21,640,000, to be designated <br /> "Public Building Rev�nue Bonds, Series 1986" <br /> -3- <br />