Pending the issuance of lake management district bonds, the County may, for the purpose of meeting any and all costs and expenses of constructing the Project for which funds are not otherwise available, as the same are installed prior to the sale of the bonds, issue interim financing warrants against any Lake Dawn Management District fund created by the Board of County Commissioners, or issue lake management district bond anticipation notes pursuant to Chapter 39.50 RCW, bearing interest at such rate or rates and with such terms as may hereafter be established by the Board by resolution. Such warrants or notes shall be issued in an aggregate principal amount not in excess of the cost and expense of the improvements, and shall be redeemed and retired from the proceeds of the sale of lake management district bonds or prepayment of assessments.

Following confirmation of the assessment roll by the Board and expiration of the thirty (30) day period for payment of assessments without penalty or interest, the Board may authorize the issuance of said lake management district bonds sufficient in amount to redeem and retire all the then outstanding warrants drawn against any Lake Dawn Management District funds created by the Board of County Commissioners or any outstanding bond anticipation notes, together with the interest due on such interim warrants or notes to the date of delivery of the bonds, and to pay all other unpaid costs and expenses of accomplishing the Project, including administrative, engineering, legal and operational costs, and including the cost of creating the District and of funding any guaranty fund created by the Board of County Commissioners, all as provided by RCW 36.61.020.