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516174 <br /> <br />from said gross revenues. The Revenue Fund is established under and pursuant to the Revenue Bond <br />Law of 1941, and under the provisions of said resolution authorizing the issuance of this bond the gross <br />revenues received from the enterprise are required to be deposited to the credit of said Revenue Fund and <br />used only for the purposes authorized by said resolution, including the payment of principal and interest <br />of the issue of bonds of which this is one. <br /> <br /> By the terms of said Revenue Bond Law and by covenant expressed in said resolution, the city is <br />obligated to prescribe, revise and collect charges for the services, facilities and water of the water system <br />of the city such as to provide revenues sufficient to pay the interest on and principal of the bonds as they <br />become due and payable in addition to all other payments required for compliance with said resolution <br />and the necessary and reasonable maintenance and operation costs of the water system, is prohibited from <br />issuing bonds having any priority with respect to payment from the gross revenues of the enterprise, and <br />is subject to conditions with respect to any sale of said water system. In the manner provided in the <br />resolution, any or all of the obligations referred to in this paragraph and certain other obligations <br />mentioned in said resolution may be waived with the consent of the holders of 66% in aggregate principal <br />mount of the bonds then outstanding (exclusive of issuer-owned bonds). <br /> <br /> This bond is callable and redeemable prior to maturity in accordance with the provisions for <br />redemption endorsed hereon. <br /> <br /> This bond and the coupons hereto attached are negotiable instruments and shall be negotiable by <br />delivery. This bond may be registered, in accordance with said resolution, by being exchanged for a fully <br />registered bond of the same series, interest rate and maturity, in such manner and upon such reasonable <br />terms and conditions as may from time to time be determined and prescribed by the city; provided, <br />however, no such exchange shall be made between the fifteenth day preceding any interest payment date <br />and such interest payment date. Such exchange shall be free of any costs or charges to the person, firm <br />or corporation requesting such exchange, except for any tax or governmental charge that may be imposed <br />thereon. <br /> <br /> It is hereby certified and recited that any and all acts, conditions and things required to exist, <br />to happen and to be performed precedent to and in the incurring of the indebtedness evidenced by this <br />bond and in the issuance of this bond exist, have happened, and have been performed in due time, form <br />and manner as required by the Constitution and laws of the State of California and the Charter of said <br />city and that this bond, together with all other indebtedness of the City pertaining to the aforesaid water <br />system, is within every debt and other limit prescribed by the Constitution and laws of the State of <br />California. <br /> <br /> IN WITNESS WHEREOF, said City of Sama Ana has caused this bond to be signed by the Mayor <br />and Director of Finance of said city by their facsimile signatures, countersigned by the Clerk of the <br />Council of said city, and sealed with the corporate seal of said city, and the interest coupons hereto <br />attached to be signed by the Director of Finance by his facsimile signature, and has caused this bond <br />to be dated the first day of July, 1974. <br /> <br />COUNTERSIGNED: <br /> <br />Mayor of the City of Sama Ana, California <br /> <br /> Director of Finance of the City of <br /> Santa Aha, California <br /> <br />Clerk of the Council of the City of <br />Santa Ana, California <br /> <br />(SEAL) <br /> <br />17 <br /> <br /> <br />