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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Section 14. This agreement shall be effective upon the iate hereof and shall thereafter remain in effect unless and until terminated as hereinafter provided. In order to finance,, the purchase of the properties re­ferred to in Section 1 hereof it will be necessary for the District to be authorized to issue bonds pursuant to the statute under which the District was created and is acting and to sell and receive the >roceeds of such bonds. Accordingly the District shall not be ob­ligated to purchase the properties referred to in Section 1 hereof, tnd First Parties shall not be obligated to sell and convey said >roperties to the District for the purchase price provided in this igreement unless, prior to the time this agreement shall terminate ls hereinafter provided, the District shall sell, and receive the iroceeds of, duly authorized bonds sufficient in amount to enable ;he District to pay the purchase price herein provided and deposit ;he amount of the Relocation Fund referred to in Section 5. The District agrees to hold an election on or before Oc­tober 31, 1953, for the purpose of submitting to the qualified vot- rs of the District a proposition to incur a bonded indebtedness for he purchase of the properties herein mentioned and for the creation f said Relocation Fund. If the District shall not have held such n election on or before October 31, 1953, or iflat such an election he proposition to incur such a bonded indebtedness shall have been efeated, after said date either the First Parties or the District ay at any time terminate this agreement by giving written notice of uch termination to the other party, and after the giving of said no- 44.