Section 36389 Of Chapter 4.3. Revenue Warrants From California Water Code >> Division 13. >> Part 6. >> Chapter 4.3.
36389
. The board, in a resolution authorizing the issuance of
revenue warrants, may covenant to operate and maintain the facilities
producing the revenues pledged for the security of the revenue
warrants, may covenant to fix, maintain, and collect tolls, charges,
rates, or fees which will produce revenues sufficient to provide for
the payment of the principal of and interest on the revenue warrants
and to provide such additional sums for the further security of the
revenue warrants as the resolution may prescribe, and may make such
other covenants, with respect to insurance, investments of funds,
accounting records, independent audits, events of default,
limitations upon competitive facilities, and any other matters
relating to the revenue warrants and their security as the board may
deem necessary, convenient, or desirable in order better to secure
the revenue warrants or to make them more marketable.