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Nothing contained herein shall be construed to impair the ability <br />of either City to apply for its fair share of federal, state, and <br />county funds for any projects in other areas of the cities. Nor <br />shall anything herein be construed to require Orange to obligate <br />its General Funds or Gas Tax Funds, or to pledge the Full Faith <br />and Credit of the city, to pay for any loan principal or. interest. <br />A letter of credit for a particular Phase of the Project <br />may be drawn down on only under the following terms and conditions: <br />a. The mitigation measures to be implemented with <br />the funds requested to be drawn down on are reasonably resulting <br />from either the improvements for the particular Phase which is the <br />subject of the letter of credit, or any earlier phases, and are <br />recommended by the EIR or the New Traffic Study; <br />b. A building permit for the improvements in the <br />particular Phase which is the subject of the letter of credit has <br />been issued; <br />C. There are insufficient TSIP Fees and federal, <br />state and county funds and grants available to the JPA, as set <br />forth above, to pay for such mitigation measures; and <br />d. Santa Ana and Orange have expended their best <br />efforts and cooperated to apply for, and obtain funding from <br />state, county, and federal sources and despite such efforts the <br />7 0393S <br />