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<br />-13- <br />ARTICLE II <br /> <br />THE 2026 BONDS <br /> <br />SECTION 2.01. Authorization of 2026 Bonds. The Authority has reviewed all <br />proceedings heretofore taken and has found, as a result of such review, and hereby finds and <br />determines that all things, conditions and acts required by law to exist, happen or be performed <br />precedent to and in connection with the issuance of the 2026 Bonds do exist, have happened <br />and have been performed in due time, form and manner as required by law, and the Authority is <br />now duly empowered, under each and every requirement of law, to issue the 2026 Bonds in the <br />manner and form provided in this Indenture. <br /> <br />The Authority hereby authorizes the issuance of the 2026 Bonds in the aggregate <br />principal amount of $__________ under the Bond Law for the purposes of providing funds to <br />enable the City to finance improvements related to the 2026 Water Project. The Bonds are <br />authorized and issued under, and are subject to the terms of, this Indenture and the Bond Law. <br />The Bonds are designated the “Pleasanton Joint Powers Financing Authority 2026 Water <br />Revenue Bonds.” <br /> <br />SECTION 2.02. Terms of the 2026 Bonds. <br /> <br />(a) Payment Provisions. The 2026 Bonds shall be issued in fully registered form <br />without coupons in denominations of $5,000 or any integral multiple thereof. The 2026 Bonds <br />shall mature on April 1 in each of the years and in the amounts, and bear interest (calculated on <br />the basis of a 360-day year of twelve 30-day months) at the rates, as follows: <br /> <br />Maturity Principal Interest <br />(April 1) Amount Rate <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />____________ <br />* Term Bond <br /> <br />Interest on the 2026 Bonds is payable from the Interest Payment Date next preceding <br />the date of authentication thereof unless: <br />Page 29 of 205