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<br />. <br /> <br />. <br /> <br />I <br /> <br />. <br /> <br />. <br /> <br />of the meeting shall so certify in writing to the Agency. <br />certificate shall constitute complete evidence of consent <br />the Bondholders under the provisions of this Resolution. <br />certificate signed and verified by the chairman and the <br />secretary of any Bondholders' meeting shall be conclusive <br />evidence and the only competent evidence of matters sta~ed in <br />the certificate relating to proceedings taken at the ~eeting. <br /> <br />Section 24. Proceedings Constitute Contract; Events of <br />Default and Remedies of Bondholders. The provisions of this <br />Resolution, of the resolutions providing for the sale of the <br />Bonds and awarding the Bonds and fixing the interest rate or <br />rates thereon, and of any other resolution supplementing or <br />amending this Resolution, shall constitute a contract between <br />the Agency and the Bondholders. The provisions of any <br />amendment shall be enforceable by any Bondholder for the equal <br />benefit and protection of all Bondholders similarly situated by <br />mandamus, accounting, mandatory injunction or any other suit, <br />action or proceeding at law or in equity that is now or may <br />hereafter be authorized under the laws of the State of <br />California in any court of competent jurisdiction. This <br />contract is made under and is to be construed in accordance <br />with the laws of the State of California. The following <br />provisions shall not limit the generality of the foregoing. <br /> <br />The <br />of <br />A <br /> <br />A. Events of Default. <br />constitute an event of default: <br /> <br />Each of the following shall <br /> <br />(1) Default in the due and punctual payment of <br />any installment of interest on any Bond when the <br />interest installment becomes due and payable; <br /> <br />(2) Default in the due and punctual payment of <br />the principal and premium, if any, of any Bond when <br />the principal becomes due and payable, whether at <br />maturity, by declaration or otherwise; <br /> <br />(3) Default made by the Agency in the observance <br />of any of the covenants, agreements or conditions <br />contained in this Resolution or in the Bonds, where <br />the default continues for a period of thirty (30) days <br />following written notice to the Agency; or <br /> <br />(4) The Agency shall file a petition seeking <br />reorganization or arrangement under the federal <br />bankruptcy laws or any other applicable law of the <br />United States of America, or if a court of competent <br />jurisdiction shall approve a petition, filed with or <br />without the consent of the Agency, seeking <br />reorganization under the federal bankruptcy laws or <br />any other applicable law of the United States of <br />America, or if, under the provisions of any other law <br /> <br />12-28-85 <br />0O63k/2281/05 <br /> <br />-37- <br />