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State courts that have held that financing leases do not qualify as longterm debt subject to debt limitations commonly base their decision on the inclusion

State courts that have held that financing leases do not qualify as longterm debt subject to debt limitations commonly base their decision on the inclusion in the lease agreement of a

  1. nonsubstitution clause.
  2. nonappropriation clause.
  3. nonparticipation clause.
  4. forward funding clause.

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