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<br />promptly payor cause to be paid the principal of and Interest on every
<br />Parity Bond, on the dates and in the places and manner prescribed In the
<br />Parity Bonds Ordinances; and, it will, at the times and in the manner
<br />prescribed, deposit or cause to be deposited the amounts required to be
<br />deposited into the Interest and Sinking Fund and the Reserve Fund; and
<br />any holder of the Parity Bonds may require the City, its officials and
<br />employees to carry out, respect, or enforce the covenants and obligations of
<br />the Parity Bonds Ordinances by all legal and equitable means, including
<br />specifically, but without limitation, the use and filing of mandamus
<br />proceedings in any court of competent jurisdiction against the City, its
<br />officials and employees.
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<br />(b) City's Le~al Authority. It is a duly created and existing
<br />home rule city of the State of Texas, and Is duly authorized under the laws
<br />of the State of Texas to create and issue the Parity Bonds; it has the
<br />lawful power to pledge the revenues supporting the Bonds and has lawfully
<br />exercised said power under the Constitution and laws of the State of Texas,
<br />including said power existing under Articles 1111 to 1118, both inclusive,
<br />nevised Civil Statutes of the State of Texas, as amended; the Bond.s issued
<br />hereunder shall be ratably secured by said pledge of income, in such
<br />manner that one Bond shall have no preference over any other Bond; all
<br />action on its part for the creation and issuance of said obligations has been
<br />duly and effectively taken; and said obligations in the hands' of the holders
<br />and owners thereof are and will be valid and enforceable special obligations
<br />of the City in accordance with their terms.
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<br />(c) Title. It has or will obtain lawful title to the lands,
<br />buildings, structu~es, and facilities cOlistituting the System; it will defend
<br />the title to all the aforesaid lands, buildings, structures, and facilities, and
<br />every part thereof, for the benefit of the holders and owners of the Parity
<br />Bonds, against the claims and demands of all persons whomsoever; it is
<br />lawfully qualified to pledge the Net Revenues to the payment of the Parity
<br />Bonds in the manner prescribed herein; and it has lawfully exercised such
<br />rights.
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<br />( d) Liens. It will from time to time and before the same become
<br />delinquent pay and discharge all taxes, assessments and governmental
<br />charges, if any, which shall be lawfully imposed upon it or the System; it
<br />will pay all lawful claims for rents, royalties, labor, materials, and supplies
<br />which if unpaid might by law become a lien or charge thereon, the lien of
<br />which would be prior to or interfere with the liens hereof, so that the
<br />priority of the liens granted hereunder shall be fully preserved in the
<br />manner provided herein; and it will not create or suffer to be created any
<br />mechanic's, laborer's, materialman's or other lien or charge which might or
<br />could be prior to the liens bereof, or do or suffer any malleI' or thing
<br />whereby the liens hereof might or could be Impaired; provided, however,
<br />that no such tax, assessment, or charge, and that no such claims which
<br />might be used as the basis of a mechanic's, laborer's, materialman's, or
<br />other lien or charge, shall be required to be paid so long as the validity of
<br />the same shall be contested in good faith by the City.
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