1981-137 CRA - Laserfiche WebLink

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. . . . . . . '. a debt of the City of Santa Ana, the State of California, or any of its political subdivisions and neither said City, said State, nor any of its political subdivisions is liable hereon nor in any event shall this Note be payable out of any funds or properties other than the Revenues and collateral therefor, as conte~lated by the Resolution. The faith and credit of the Agency is not pledged to the payment of the principal of or interest .on this Note. This Note does not constitute an indebtedness within the meaning of any constitutional or statutory debt limitation or restriction. If an Event of Default (as defined in the Resolution) shall occur, all or part of the principal amount of this Note may be declared due and payable upon the conditions, in the manner and with the effect provided in the Resolution but such declaration and its consequences may be rescinded and annuled by the holder hereof as further pr.ovided in the Resolution. Th is Note may be transferred by the h.o 1 der hereof by end.ors i ng here.on (or on a paper attached hereto) the amount of pri nc ipa 1 paid hereon as of the date of transfer. Notification of such transfer shall be promptly given t.o the Agency for entry on the Note register maintained by the Agency pursuant to the Resolution, of the name and address .of the transferee. The Agency may treat the registered owner hereof as the absolute owner hereof for all purposes. Any holder of this Note subsequent to its original purchaser is hereby placed on notice of all payments of both principal and of interest on this Note prior to its transfer to such h.older and all such subsequent h.olders hereby acknowl edge that they have ascertai ned the actual unpaid pri nc ipa 1 balance of this N.ote as of the date of transfer of this Note to them and hereby release the Agency from all obligation as to all principal and interest paid by the Agency prior to such date. It is hereby certified that all of the things, conditions and acts requ i red to ex i st, to have happened and to have been performed precedent to and in connection with the issuance of this Note do exist, have happened and have been performed in due time, form and manner, and that the amount of this Note, together with all other indebtedness of the Agency, does not exceed any limit prescribed by any laws of the State of California, and is not in excess of the amount of the Note permitted to be issued under the Resolution.