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Any pledge of revenues or other moneys or assets as authorized by this title shall be valid and binding from the time such pledge is made. Revenues, moneys and assets so pledged and there-after received by the city shall immediately be subject to the lien of such pledge without any physical delivery thereof or further act and the lien of any such pledge shall be valid and binding as against all parties having claims of any kind in tort, contract, or otherwise against the city, irrespective of whether such parties have notice thereof. Neither the resolu-tion nor any indenture by which a pledge is created need be filed or recorded except in the records of the city.
('86 Code, § 8.03.050) (Ord. 3863, passed - - )
Neither the members of the Council, the officers or employees of the city, nor any person executing any bonds shall be liable personally on the bonds or be subject to any personal liability or accountability by reason of the issuance thereof.
('86 Code, § 8.03.060) (Ord. 3863, passed - - )
Any holder of bonds issued under the provisions of this title or any of the coupons appertaining thereto, and any trustee appointed pursuant to any resolution relating to the issuance of bonds, except to the extent the rights thereof may be restricted by such resolution or any indenture authorized thereby to be entered into by the city, may, either at law or in equity, by suit, action, mandamus or other pro-ceedings, protect or enforce any and all rights specified in law or in such resolution or indenture, and may enforce and compel the performance of all duties required by this title or by such resolution or indenture to be performed by the city or by any officer, employee, or agent thereof, including the fixing, charging, and collecting of rates, fees, interest, and charges authorized and required by the provisions of such resolution or indenture to be fixed, charged, and collected.
('86 Code, § 8.03.080) (Ord. 3863, passed - - )
In anticipation of the sale of bonds authorized by this title, the city is hereby authorized to issue bond anticipation notes, and to renew the same from time to time, in such series and amounts as are determined by the Council to be necessary or appropriate for the costs of facilities approved by the Council. Such notes shall be payable from revenues or other moneys or assets authorized by this title to be pledged to secure payment of bonds, and which are not otherwise pledged, or from the proceeds of sale of the particular bonds in anticipation of which they are issued. Such notes shall be issued in the same manner as bonds. The Mayor or City Manager shall deter-mine the terms and timing of the issuance of particular bond anticipation notes in accordance with the provisions of § 8.03.030 of this chapter and the resolution of the Council approving the particular facility to be financed thereby. Such notes, any resolution relating to the issuance of such notes and any indenture to be entered into by the city pursuant to such resolution may contain any provisions, condi-tions or limitations permitted under § 8.03.040 of this chapter.
('86 Code, § 8.03.100) (Ord. 3863, passed - - )
The validity of the authorization and issuance of any bonds is not dependent on and shall not be affected in any way by any proceedings taken by the city for the approval of any financing or the entering into of any agreement, or by the failure to provide financing or enter into any agreement, for which bonds are authorized to be issued under this title.
('86 Code, § 8.03.110) (Ord. 3863, passed - - )