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<br /> <br />-i- <br /> <br />TABLE OF CONTENTS <br /> <br /> Page <br />ARTICLE I <br />DEFINITIONS ; RULES OF INTERPRETATION <br />SECTION 1.1. Definitions .......................................................................................................... 2 <br />SECTION 1.2. Interpretation ...................................................................................................... 2 <br /> <br />ARTICLE II <br />REPRESENTATIONS, COVENANTS AND WARRANTIES <br />SECTION 2.1. Representations, Covenants and Warranties of the City ..................................... 2 <br />SECTION 2.2. Representations, Covenants and Warranties of Authority ................................... 3 <br /> <br />ARTICLE III <br />ISSUANCE OF SERIES 2024 BONDS; CONSTRUCTION OF <br />PROJECT <br />SECTION 3.1. The 2024 Bonds. ................................................................................................ 5 <br />SECTION 3.2. Deposit and Application of Funds. ...................................................................... 5 <br />SECTION 3.3. Acquisition and Construction of the Project......................................................... 5 <br />SECTION 3.4. Appointment of City as Agent ............................................................................. 5 <br />SECTION 3.5. Plans and Specifications..................................................................................... 6 <br />SECTION 3.6. Certificate of Completion .................................................................................... 6 <br /> <br />ARTICLE IV <br />SALE OF PROJECT <br />INSTALLMENT PAYMENTS <br />SECTION 4.1. Sale of Project .................................................................................................... 6 <br />SECTION 4.2. Term ................................................................................................................... 6 <br />SECTION 4.3. Title .................................................................................................................... 6 <br />SECTION 4.4. Installment Payments ......................................................................................... 6 <br />SECTION 4.5. Pledge and Application of Net Revenues ............................................................ 7 <br />SECTION 4.6. Special Obligation of the City; Obligations Absolute ........................................... 8 <br />SECTION 4.7. Additional Payments ........................................................................................... 9 <br /> <br />ARTICLE V <br />COVENANTS OF THE CITY <br />SECTION 5.1. Disclaimer of Warranties; Maintenance, Utilities and Taxes. ............................. 10 <br />SECTION 5.2. Release and Indemnification Covenants ........................................................... 10 <br />SECTION 5.3. Sale or Eminent Domain of Water System ........................................................ 10 <br />SECTION 5.4. Insurance ......................................................................................................... 11 <br />SECTION 5.5. Records and Accounts ..................................................................................... 11 <br />SECTION 5.6. Rates and Charges ........................................................................................... 11 <br />SECTION 5.7. Superior and Subordinate Obligations .............................................................. 12 <br />SECTION 5.8. Issuance of Parity Debt .................................................................................... 12 <br />SECTION 5.9. Operation of Water System in Efficient and Economical Manner ...................... 14 <br />SECTION 5.10. Assignment and Amendment. ......................................................................... 14 <br />SECTION 5.11. Continuing Disclosure. .................................................................................... 14 <br />SECTION 5.12. Rate Stabilization Fund.................................................................................... 15 <br /> <br />