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4 5 6 7 8 9 10 11 12 13. 14 15 16 17 18 19' 20 21 22 23 24 251 9.1 27 W -P WHEREAS, this City Council proposes to authorize by ordinance the issuance and sale by the Authority of its Notes, which are to be payable from ' proceeds of the Power Project Revenue Bonds authorized by this Ordinance and, to the extent not so paid, may be payable from revenues of the Authority from the Project, including payments received by the Authority from the Participants under the Power Sales Contracts. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF COLTON DOES ORDAIN AS FOLLOWS: 1. The issuance and sale by the Authority, from time to time, in one or more installments, of its Power Project Revenue Bonds outstanding at any one time in accordance with their terms in a maximum aggregate principal amount of $800,000,000 is hereby authorized. Notwithstanding such maximum aggregate principal amount, the Authority is hereby authorized to issue additional principal amounts of its Power Project Revenue Bonds if and to the extent required to complete the financing of the Project. The proceeds from the sale of the Power Project Revenue Bonds hereby authorized are to be used for the acquisition, construe tion and financing of the Project, including interest on such Bonds and deposits to reserves, and to pay the principal, pre- mium, if any, and interest on the Notes of the Authority when due. The Power Project Revenue Bonds hereby authorized, and premium and interest thereon, are to be payable from, and secured by, funds held in trust for the benefit of the holders of Power Project Revenue Bonds and from revenues of the Auth- ority from the Project, including payments received by the Authority from the Participants under the Power Sales Contract 2. Pursuant to Section 6547 of the Joint Powers Act, this Ordi- nance is subject to the provisions for referendum prescribed