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ORDINANCE NO. 2780 <br />AN ORDINANCE OF THE CITY OF ANAHEIM, <br />CALIFORNIA, ORDERING, CALLING, PROVID- <br />ING FOR AND GIVING NOTICE OF A SPECIAL <br />MUNICIPAL ELECTION TO BE HELD IN SAID <br />CITY ON APRIL 14, 1970, FOR THE PURPOSE <br />OF SUBMITTING TO THE QUALIFIED VOTERS OF <br />SAID CITY A PROPOSITION TO AUTHORIZE THE <br />ISSUANCE OF ELECTRIC REVENUE BONDS AND <br />CONSOLIDATING SAID ELECTION WITH THE <br />GENERAL MUNICIPAL ELECTION TO BE HELD <br />ON SAID DATE. <br />WHEREAS, the Charter of the City, in Section <br />1210 thereof, provides as follows: <br />'Bonds which are payable only out of such revenues <br />as may be specified in such bonds may be issued <br />when the City Council by ordinance shall have <br />established a procedure for the issuance of such <br />bonds. Such bonds, payable only out of revenues, <br />shall not constitute an indebtedness or general <br />obligation of the City. No such bonds payable out <br />of revenues shall be issued without the assent of <br />a majority of the voters voting upon the propo- <br />sition for issuing the same at an election at <br />which such proposition shall have been duly sub- <br />mitted to the qualified electors of the City. <br />i°It shall be competent for the City to make con- <br />tracts and covenants for the benefit of the holders <br />of any such bonds payable only from revenues and <br />which shall not constitute a general obligation of <br />the City for the establishment of a fund or funds, <br />for the maintaining of adequate rates or charges <br />for restrictions upon further indebtedness payable <br />out of the same fund or revenues, for restrictions <br />upon transfer out of such fund, and other appro- <br />priate covenants. Money placed in any such special <br />fund, for the payment of principal and/or interest <br />on any issue of such bonds or to assure the <br />application thereof to a specific purpose shall <br />not be expended for any other purpose whatever <br />except for the purpose for which such special fund <br />was established and shall be deemed segregated <br />from all other funds of the City and reserved <br />exclusively for the purpose for which such special <br />fund was established until the purpose of its <br />establishment shall have been fully accomplished." <br />NOW, THEREFORE, the City Council of the City of <br />Anaheim, California, DOES ORDAIN as follows: <br />