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VII. <br />7.1 Securities. <br />Upon the approval of the Board, the Parties or the <br />Agency may participate in any statutory power for the issuance <br />of securities to finance the fees authorized by Government Code <br />Section 66484.3, including the power to establish one or more <br />community facilities districts under the Mello -Roos Community <br />Facilities District Act of 1982, Government Code Section 53311, <br />et seq., or any other applicable legislation. Other than the <br />fees specified herein, no funds of a Party shall be utilized <br />as security or as a source for the payment or redemption of any <br />securities of the Agency without the consent of the legislative <br />body of that Party. <br />Upon the approval of not less than two - thirds (2/3) of <br />the Board Members, the Agency may participate in the <br />above - mentioned statutory powers for bond financing of the fees <br />specified herein; provided, however, that the fees collected by <br />any Party may be excluded as security for or as a source for <br />such financing if the Board, upon the approval of not less than <br />two - thirds (2/3) of its Members, so provides. <br />VIII. <br />LIABILITIES <br />8.1 Liabilities <br />The debts, liabilities, and obligations of the Agency <br />shall be the debts, liabilities, or obligations of the Agency <br />alone and not of the Parties , unless expressly specified <br />herein. <br />Each Party hereto agrees to <br />Agency and the other Parties harmless <br />damages, actual or alleged, to person <br />of or resulting from negligent acts o <br />indemnifying Party or its employees. <br />-15- <br />indemnify and hold the <br />from any liability for <br />s or property arising out <br />r omissions of the <br />Where the Agency, the <br />