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the city nor a legal or equitable pledge, charge, lien, or encumbrance, upon any of its property, or
<br />upon any of its income, receipts, or revenues, except the gross revenues of the enterprise which
<br />are, under the terms of this resolution and said l~evenue Bond Law, pledged to the payment of
<br />said bonds and interest.
<br />
<br /> Section 5. Description of Bonds. SMd bonds shall be in the principal sum of $3,000,000, shall
<br />be 3,000 in number, numbered A1 to A3,000, inclusiSe, and shall be of the denomination of $1,000
<br />each. Said bonds shall be designated 1962 WATER REVENUE BONDS, SERIES A, shall be
<br />dated July 1, 1962, and shall be payable in consecutive numerical order on July 1 in each year of
<br />maturity in the amounts for each of the several years as follows:
<br />
<br /> Bo~ds
<br />
<br /> 1964. ........................... $10,000
<br /> 1965 ............................ 20,000
<br /> 1966 ............................ 30,000
<br /> 1967 ............................ 50,000
<br /> 1968 ............................ 70,000
<br /> 1969 ............................ 70,000
<br /> 1970 ........................... 80,000
<br /> 1971 ............................ 80,000
<br /> 1972. ........................... 80,000
<br /> 1973 ............................ 80,000
<br />
<br /> The bonds maturing in the years 1964 to 1982, inclusive, are herein sometimes referred to as
<br />"serial bonds". The bonds maturing in the year 1992 are herein sometimes referred to as "term
<br />bonds".
<br />
<br /> Section 6. Interest. Said bonds shall bear interest at a rate or rates to be hereafter fixed by
<br />resolution or resolutions, but not to exceed six per cent (6%) per annum, payable annually for the
<br />first year and semiannually thereafter, on the 1st days of January and July of each year. Each bond
<br />shall bear interest until the principal sum thereof has been paid, provided, however, that if at the
<br />maturity date of any bond, or if the same is redeemable and has been duly called for redemption,
<br />funds are available for the payment or redemption thereof in full accordance with the terms of this
<br />resolution, said bonds shall then cease to bear interest. Said bonds and the interest thereon shall be
<br />payable in lawful money of the United States of Americag)at the office of the Director of Finance
<br />of the City of Santa Ana, in said city, or, at the option of the holder, at any paying agent of the
<br />city in Los Angeles or San Francisco, California, Chicago, Illinois, or in New York, New York.
<br />
<br /> Section 7. Execution of Bonds. The Mayor of the City and the Director of Finance of the
<br />etty are hereby authorized and directed to sign all of said bonds by their printed, lithographed or
<br />engraved facsimile signatures, and the Clerk of the Council is hereby authorized and directed to
<br />countersign said bonds and to affix thereto the corporate seal of the city, and the Director of
<br />Finance of the city is hereby authorized and directed to sign the interest coupons of said bonds
<br />by his printed, lithographed or engraved facsimile signature.
<br />
<br /> Section 8. Registration. Said bonds may be registered either as to principal only or as to both
<br />principal and interest, and the form of registration of any registered bond may be discharged from
<br />registration in the manner and with the effect set forth in the provisions for registration contained
<br />in the form of bond set forth herein.
<br />
<br /> Bonds
<br />Year Maturing
<br />1974 ........................ $ 90,000
<br />1975 ........................ 90,000
<br />1976. ....................... 90,000
<br />1977 ....................... 100,000
<br />1978 ........................ 100,0120
<br />1979. ....................... 110,1300
<br />1980. ....................... 110,000
<br />1981 ........................ 120,000
<br />1982 ........................ 120,000
<br />1992 ....................... 1,500,000
<br />
<br /> Section 9. Redemption of Bonds. The bonds maturing on or prior to July 1, 1982 are not
<br />subject to call or redemption prior to maturity. The bonds maturing on July 1, 1992, are subject
<br />to call and redemption, at the option of the city, on July 1, 1972, or on any interest payment
<br />
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