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1990. The Bonds of Series A shall be in the aggregate <br />principal amount of $3,395,000. <br />Section 2.04 Type and Nature of Bonds. The Bonds <br />shall be special obligations of the Community Facilities <br />District secured by and payable from an irrevocable first <br />lien on and first pledge of the Special Taxes, investment <br />income earned after completion of construction of the Public <br />Facilities on funds on deposit in the Funds established <br />hereunder (subject to the obligation to rebate arbitrage <br />profits, in accordance with Section 8.09) and all monies on <br />deposit in the Bond Payment, Bond Reserve and Bond Redemption <br />Funds. Said Bonds, the interest thereon, and any premiums <br />payable on the redemption of any thereof, are not an <br />indebtedness of the City, the State of California, or any of <br />its political subdivisions, and neither the City, the State <br />nor any of its political subdivisions is liable on the Bonds, <br />nor in any event shall said Bonds or interest be payable out <br />of any funds or properties other than those of the Community <br />Facilities District as in this Resolution set forth. Neither <br />the members of the Community Facilities District or the City <br />nor any persons executing the Bonds are liable personally on <br />the Bonds by reason of their issuance. <br />The Bonds shall be and are equally secured by and <br />payable from an irrevocable and first pledge of Special Taxes <br />and other funds as may be provided above and hereinafter, <br />without priority for number, date of sale, date of execution <br />or date of delivery, except as expressly provided herein. <br />The validity of the Bonds is not and shall not be <br />dependent upon the completion of the Public Facilities or <br />upon the performance of any one of the obligations relative <br />to the Community Facilities District. <br />Nothing in this Resolution shall prevent the Community <br />Facilities District from making advances from any other <br />source of revenue not otherwise prohibited by law to any of <br />the uses and purposes mentioned in this Resolution. <br />Section 2.05 Maturity and Interest Rate. <br />(A) Serial Bonds of Series A. The Serial Bonds of <br />Series A shall be issued with annual principal maturing on <br />September 1, 1993, and September 1 of each succeeding year in <br />the principal amounts and bearing interest at the rates as <br />set forth below: <br />-11- <br />