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VII <br />SECURITIES <br />7.1 Securities. <br />Upon the approval of the Board, one or more parties <br />of the Agency may jointly participate in any statutory power <br />for the issuance of securities to finance the fees authorized <br />by Government Code Section 66484.3, including the power to <br />establish one or more community facilities districts under "w <br />the Mello Roos Community Facilities District Acc of 1382, <br />Government Code Section 53311, et seq., or any other appli- <br />cable legislation. Other than the fees specified herein, no <br />funds of a party to this Agreement shall be utilized, as <br />security or as a source for the payment or redemption of any <br />securities, without the consent of the legislative body of <br />that party. <br />VIII <br />LIABILITIES <br />8.1 Liabilities. <br />The debts, liabilities, and obligations of the <br />Agency shall be the debts, liabilities, or obligations of the <br />Agency alone and not of the parties to this Agreement, unless <br />expressly specified herein. <br />8.2 Hold Harmless and Indemnity. <br />Each party hereto agrees to indemnify and hold the <br />other parties harmless from all liability for damage, actual <br />or alleged, to persons or property arising out of or result- <br />-21- <br />