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Page <br />29 . <br />Annual Statement . . . . . . . . . . . . . . . <br />. . 17 <br />29a. <br />Annual Levy . . . . . . . . . . . . . . . . . . <br />. . 17 <br />18 <br />30. <br />Method of Levy . . . . . . . . . . . . . . . . <br />. . <br />18 <br />31 . <br />Covenants . . . . . . . . . . . . . . . . . . . <br />. . <br />18 <br />(a) Acquire System. . . . . . . . . . . . . <br />. . <br />(b) Operate System. . . . . . . . . . . . . <br />. . 18 <br />(c) Good Repair . . . . . . . . . . . . . . <br />. . 18 <br />(d) Preserve Security . . . . . . . . . . . <br />. . 18 <br />(e) Collect Revenues . . . . . . . . . . . . <br />. . 18 <br />(f) Service Bonds . . . . . . . . . . . . . <br />. . 19 <br />(g) Pay Claims. . . . . . . . . . . . . . . <br />. . 19 <br />(h) Encumbrances . . . . . It . . . . . . . <br />0 19 <br />(i) Insurance . . .. . . . . . . . . . . . . <br />. . 19 <br />19 <br />(j) Fidelity Bonds . . . . . . . . . . . . . <br />. . <br />(k) Books and Accounts. . . . . . . . . . <br />. . 20 <br />32. <br />Inspection . . . . . . . . . . . . . . . . . . <br />. . 20 <br />20 <br />33. <br />Bonds Incontestable. . . . . . . . . . . . . .. <br />. . <br />34. <br />Modifications. . . . . . . . . . . . . . . . . <br />. . 20 <br />35. <br />Refunding. . . . . . . . . . . . . . . . . . . <br />. . 20 <br />36. <br />Default. . . . . . . . . . . . . . . . . . . <br />21 <br />(a) Event of . . . . . . . . . . . . <br />21 <br />21 <br />(1) Principal. . . . . . . <br />(2) Interest . . . . . . . . . . . . . <br />. . 21 <br />(3) Covenants . . . . . . . . . . . . . <br />. . 21 <br />(4) Bankruptcy . . . . . . . . . . . . <br />. . 21 <br />(b) Acceleration. . . . . . . . . . . . . . <br />. . 21 <br />(c) Application of Funds . . . . . . . . . . <br />. . 22 <br />(1) Costs and Expenses . . . . . . . . <br />. . 22 <br />(2) Interest on Undue Bonds. . . . . . <br />. -. 22 <br />(3) Principal and Interest <br />on Due Bonds . . .. . . . . . . . <br />. . 22 <br />(4) Insufficient Funds . . . . . . <br />. . 22 <br />(d) Refunding Defaulted Bonds . . . . . . . <br />. . 22 <br />37. <br />Unconditional Obligation . . . . . . . . . . . <br />. . 22 <br />38. <br />Bondholder Remedies . . . . . . . . . . . . . . <br />. . 23 <br />(a) Accounting . . . . . . . . . . . . . . . <br />. . 23 <br />(b) Injunction. . . . . . . . . . . . . . . <br />. . 23 <br />(c) Mandamus. . . . . . . . . . . . . . . . <br />. 23 <br />39. <br />Nature of Remedies . . . . . . . . . . . . <br />. . 23 <br />(a) Cumulative. . . . . . . . . . . . . . <br />. . 23 <br />(b) Waiver . . . . . . . . . . . . . . . . . <br />. . 24 <br />(c) Delays . . . . . . . . . . . . . . . . . <br />. . 24 <br />(d) Enforcement . . . . . . . . . . . . . . <br />24 <br />(e) Status Quo . . . . . . . . . . . . . . . <br />. . 24 <br />40. <br />Delivery of Bonds . . . . . . . . . . . . . . . <br />. . 24 <br />41 . <br />Transcript . . . . . . . . . . . . . , . . . . <br />. . 24 <br />42. <br />Interest During Construction Period. . . . . . <br />. . 24 <br />43. <br />Premiums and Accrued Interest. . . . . . . . <br />. . 25 <br />44o <br />Surplus Bond Proceeds . . . . . . . . . . . . . <br />. . 25 <br />45. <br />Performance of Essence . . . . . . . . . . . . <br />. 25 <br />46. <br />Bond Law . . . . . . . . . . . . . . . . . . <br />25 <br />47. <br />Resolution is Covenant . . . . . . . . . . <br />. . 25 <br />48. <br />Legality . . . . . . . . . . . . . . . . . . <br />. . 25 <br />-ii- <br />