Item PFA-3 - Water Revenue Bonds

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TABLE OF CONTENTS (continued) Page ARTICLE VII COVENANTS OF THE AUTHORITY........................................................ 27 Section 7.01. Punctual Payment and Performance .................................................. 27 Section 7.02. Tax Covenants; Rebate Fund............................................................. 28 Section 7.03. Eminent Domain................................................................................ 29 Section 7.04. Accounting Records and Reports....................................................... 29 Section 7.05. The City's Budgets............................................................................ 30 Section 7.06. Installment Purchase Agreement and Other Documents ................... 30 Section7.07. Other Liens......................................................................................... 30 Section 7.08. Prosecution and Defense of Suits ...................................................... 31 Section 7.09. Further Assurances............................................................................. 31 Section 7.10. Continuing Disclosure....................................................................... 31 ARTICLE VIII THE TRUSTEE............................................................................................. 31 Section 8.01. Appointment and Acceptance of Duties ............................................ 31 Section 8.02. Duties, Immunities and Liabilities of Trustee .................................... 31 Section 8.03. Merger or Consolidation.................................................................... 33 Section 8.04. Compensation.................................................................................... 33 Section 8.05. Liability of Trustee............................................................................ 34 Section 8.06. Right to Rely on Documents.............................................................. 35 Section 8.07. Preservation and Inspection of Documents ........................................ 35 ARTICLE IX AMENDMENT OF THE INDENTURE....................................................... 36 Section 9.01. Amendment of the Indenture............................................................. 36 Section 9.02. Disqualified Bonds............................................................................. 37 Section 9.03. Endorsement or Replacement of Bonds After Amendment .............. 37 Section 9.04. Amendment by Mutual Consent........................................................ 37 ARTICLE X EVENTS OF DEFAULT AND REMEDIES OF HOLDERS ....................... 37 Section 10.01. Events of Default and Acceleration of Maturities ............................. 37 Section 10.02. Proceedings by Trustee...................................................................... 38 Section 10.03. Effect of Discontinuance or Abandonment ........................................ 39 Section 10.04. Rights of Owners............................................................................... 39 Section 10.05. Restriction on Owners' Action.......................................................... 39 Section 10.06. Power of Trustee to Enforce.............................................................. 40 Section 10.07. Remedies Not Exclusive.................................................................... 40 Section 10.08. Waiver of Events of Default; Effect of Waiver ................................. 40 Section 10.09. Application of Moneys...................................................................... 40 ARTICLE XI DEFEASANCE.............................................................................................. 42 Section 11.01. Discharge of Bonds............................................................................ 42 Section 11.02. Unclaimed Money.............................................................................. 43 -ii- 55394.00068\42092121.3