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., .. 2/28/78 within the meaning of any constitutional or statutory debt limitation or restriction. Neither the memben of the Agency nor any penons executing this bond are liable personally on this bond by reason of its issuance. ~ This bond is one of a duly authorized issue of bonds of the Agency designated "City of Santa Ana Redevelopment Project Area, 1978 Tax Allocation Bonds" (hereinafter called "the bonds") limited in aggregate principal amount to $13,500,000, all of like tenor (except for bond numben and maturity dates and differences, if any, in interest rate) and all of which have been issued pursuant to and in full conformity with the Constitution and laws of the State of California and particularly the Community Redevelopment Law (Part I of Division 24 of the Health and Safety Code of the State of California) for the purpose of financing a portion of the cost of the redevelop- ment project above designated, and are authorized by and issued pursuant to Resolution No. '" (hereinafter called "the resolution") adopted by the Agency on February 28, 1978, and all of the bonds are equally secured in accordance with the terms of the resolution, reference to which is hereby made for a specific description of the security therein provided for said bonds, for the nature, extent and manner of enforcement of such security, for the covenants and agreements made for the benefit of the bondholders, and for a statement of the rights of the bondholden, and by the acceptance of this bond the holder thereof assents to all of the terms, conditions and provisions of said resolution. In the manner provided in the resolution, said resolution and the rights and obligations of the Agency and of the holden of said bonds, may (with certain exceptions as stated in said resolution) be modified or amended with the consent of the holden of 60% in aggregate principal amount of outstanding bonds, exclusive of issuer-owned bonds. The principal of this bond, the interest thereon, and any premium payable upon redemption thereof are secured by an irrevocable, and lint pledge of, and are payable solely from, the Tax Revenues (as such term is defined in said resolution) and other funds, all as more particularly set forth in the resolution. If this bond matures on or after April 1, 1990, it is callable and redeemable prior to maturity in accordance with the provisions for redemption endorsed hereon. . This bond is issued in fully registered form (herein sometimes referred to as "fully registered bond") and is non-negotiable. This bond may be exchanged for a like aggregate principal amount of bearer bonds of the same series, interest rate and maturity bearing all unmatured coupons or for a like aggregate principal amount of fully registered bonds of other authorized denominations of the same series, interest rate and maturity and bearer bonds bearing all unmatured coupons may be exchanged for a like aggregate principal amount of fully registered bonds of authorized denomina- tions of the same series, interest rate and maturity. This bond is transferable by the registered owner hereof, in person or by his ,attorney duly authorized in writing, at the principal office of the Fiscal Agent in Los Angeles, California, but only in the manner, subject to the limitations and upon payment of the charges provided in the resolution, and upon surrender and cancellation of this bond. Upon such transfer a new registered bond of authorized denomination or denominations for the same aggregate principal amount of the same series, interest rate and maturity will be issued to the transferee in exchange herefor. The Agency and the Fiscal Agent may treat the registered owner hereof as the absolute owner hereof for all purposes, and the Agency and the Fiscal Agent shall not be affected by any notice to the contrary. It is hereby recited, certified and declared that any and all acts, conditions and things required to exist, to happen and to be performed precedent to and in the issuance of this bond exist, have . 19