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bankruptcy, insolvency, moratorium or other laws affecting the enforcement of creditors' rights
<br /> generally and by the application of equitable principles if equitable remedies are sought
<br /> (c) Consents No consent, approval, authorization, order, filing, registration,
<br /> qualification, election or referendum, of or by any person, organization, court or governmental
<br /> agency or public body whatsoever is required in connection with the issuance, delivery or sale of
<br /> the Bonds, the execution and delivery of the Bond Documents, or the consummation of the other
<br /> transactions effected or contemplated therein or thereby, that has not been taken or obtained
<br /> (d) Internal Revenue Code The City has complied with the Internal Revenue Code
<br /> of 1986, as amended, with respect to the Bonds
<br /> (e) No Conflicts To the best knowledge of the City, the issuance of the Bonds, and
<br /> the execution, delivery and performance of the Bond Documents, and the compliance with the
<br /> provisions thereof do not conflict with or constitute on the part of the City a violation of or
<br /> default under the Constitution of the State of California or any existing law, charter, ordinance,
<br /> regulation, decree, order or resolution and do not conflict with or result in any material respect in
<br /> a violation or breach of, or constitute a material default under, any agreement, indenture,
<br /> mortgage, lease or other instrument to which the City is a party or by which it is bound or to
<br /> which it is subject
<br /> (f) Litigation As of the time of acceptance hereof, no action, suit, proceeding,
<br /> hearing or investigation is pending or, to the best knowledge of the City, threatened against the
<br /> City (i) in any way affecting the existence of the City or in any way challenging the respective
<br /> powers of the several offices of the City or of the titles of the officials of the City to such offices,
<br /> or (u) seeking to restrain or enjoin the sale, issuance or delivery of any of the Bonds, the
<br /> application of the proceeds of the sale of the Bonds, the payment of Installment Payments or
<br /> Water Revenues contemplated by the Installment Sale Agreement and Trust Agreement and the
<br /> application thereof to pay the principal of and interest on the Bonds, or in any way contesting or
<br /> affecting the validity or enforceability of the Bond Documents or contesting the powers of the
<br /> City or its authority with respect to the Bond Documents, or (iii)that would constitute Material
<br /> Litigation under this Purchase Contract
<br /> (g) No Default To the best of City's knowledge, no event has occurred that would
<br /> constitute (1) an event of default (other than a payment default) with respect to which City
<br /> received written notice or (ii) a payment default (whether or not City received written notice)
<br /> under any debt, revenue bond or obligation which City has issued dunng the past ten years, and,
<br /> the City has never failed to budget for and include and maintain funds sufficient and available to
<br /> meet all payment obligations under any debt, revenue bond or obligation which City has issued
<br /> in each of its past ten fiscal years
<br /> (h) No Other Debt Between the date hereof and the Closing, without the prior
<br /> written consent of the Purchaser, neither the City, nor any person on behalf of the City, will have
<br /> issued in the name and on behalf of the City any bonds, notes, or other obligations secured by
<br /> Installment Payments or Water Revenues
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