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upr000067-283
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I agree.\ refunds/shall be credited to said purchase price of Two Million Five Hundred Thousand Dollars ($2,500,000.00). Said contracts will be assigned to the District and the District will assume all liabilities under said contracts. The amount of such credit shall be determined and the assumption of such liabilities shall be as of a date to be ii mutually agreed upon. Said purchase price shall be paid to you in cash or in such other medium of payment as you may designate. It is understood that in order to finance this purchase it is necessary that the undersigned be authorized to issue bonds pursuant to the Statute under which the undersigned was created and is acting. Therefore, one of the conditions of this offer is that it shall not be binding upon the undersigned until its bonds so to be authorized are sold and the money therefrom | i| Hfflj ,v is avai' li ablei. This offer shall remain in effect until it is rejected by you or is withdrawn by the undersigned by notice given thirty days before such withdrawal becomes effective, which notice shall be made and given with the same for- 7-