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<br />2/28/78
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<br />under the laws of the State of California, for value received, hereby promises to pay (but solely
<br />from the funds hereinafter mentioned) to the bearer, on April 1, " , (subject to right of prior
<br />redemption as hereinafter stated), upon preSentation and surrender of this bond, the sum of FIVE
<br />THOUSAND DOLLARS ($5,000), with interest thereon (payable solely from said funds) from
<br />the date hereof at the rate of " % per annum, interest payable semiannually on the first day Òf
<br />April and the lint day of October of each and every year until this bond is paid, upon presentation
<br />and surrender of the respective interest coupons hereto attached; provided, however, that if the
<br />maturity date of this bond or, if the same is duly called for redemption, then at the date fixed for
<br />redemption, funds are available for payment or redemption thereof, as provided in the resolution
<br />hereinafter mentioned, this bond shall then cease to bear interest. Both principal and interest are
<br />payable in lawful money of the United States of America at the principal office of United California
<br />Bank. FIscal Agent for the Agency, in Los Angeles, California, or, at the option of the holder
<br />hereof, at the office of any Paying Agent in New York, New York, or Chicago, IDinois.
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<br />This bond, the interest thereon, or any premium payable upon the redemption thereof, are not
<br />a debt of the City of Santa Ana, the State of California or any of its political subdivisions and
<br />neither said city, said state nor any of its political subdivisions is liable thereon, nor in any event
<br />shall this bond or said interest or premiums be paid out of any funds or properties other than the
<br />funds of the Agency hereinafter mentioned. This bond does not constitute an indebtedness within
<br />the meaning of any constitutional or statutory debt limitation or restriction. Neither the members of
<br />the Agency nor any penons executing this bond are liable penonally on this bond by reason of its
<br />issuance.
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<br />This bond is one of a duly authorized issue of bonds of the Agency designated "City of Santa
<br />Ana Redevelopment Project Area, 1978 Tax Allocation Bonds" (hereinafter called "the bonds")
<br />limited in aggregate principal amount to $13,500,000, all of like tenor (except for bond numben and
<br />maturity date and differences, if any, in interest rate) and all of which have been iss11ed pursuant to
<br />and in full conformity with the Constitution and laws of the State of Califórnia and particu1arly the
<br />Community Redevelopment Law (Part I of Division 24 of the Health and Safety Code of the State
<br />of California) for the purpose of financing a portion of the cost of the redevelopment project above
<br />designated, and are authorized by and issued pursuant to Resolution No. '" ,," (hereinafter
<br />called "the resolution") adopted by the Agency on February 28, 1978, and all of the bonds are
<br />equally secured in accordance with the terms of the resolution, reference to which is hereby made
<br />for a specific description of the security therein provided for said bonds, for the nature, extent
<br />and manner of enforcement of such security, for the covenants and agreements made for the benefit
<br />of the bondholders, and for a statement of the rights of the bondholden, and by the acceptance
<br />of this bond the holder thereof and of the coupons attached hereto assents to all of the terms,
<br />conditions and provisions of said resolution. In the manner provided in the resolution, said
<br />resolution and the rights and obligations of the Agency and of the holden of said bonds and coupons,
<br />may (with certain exceptions as stated in said resolution) be modified or amended with the consent
<br />of the holden of at least 60% in aggregate principal amount of outstanding bonds, exclusive of
<br />bonds, if any, owned by the Agency or the City of Santa Ana.
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<br />The principal of this bond, the interest thereon, and any premium payable upon redemption
<br />thereof are secured by an irrevocable and lint pledge of, and are payable solely from, the Tax
<br />Revenues (as such term is defined in the resolution) and other funds, all as more particularly set
<br />forth in the resolution.
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<br />If this bond matures on or after April 1, 1990, it is callable and redeemable prior to maturity
<br />in accordance with the provisions for redemption endoned hereon.
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<br />This bond and the coupon hereto attached are negotiable instruments and shall be negotiable
<br />by delivery. This bond (issued in the form of a bearer bond and herein sometimes referred to
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