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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 2026 BONDS; CONSTRUCTION OF <br />PROJECT <br />SECTION 3.1. The 2026 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 /> <br />Page 74 of 205