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-i- <br />TABLE OF CONTENTS <br />Page <br />ARTICLE I <br />DEFINITIONS ; RULES OF INTERPRETATION <br />SECTION 1.1. Definitions.............................................................................................................2 <br />SECTION 1.2. Interpretation ........................................................................................................2 <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 />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 />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 />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 />Page 221 of 448Page 230 of 557