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The Bonds shall be secured by the pledge effected by the Tndcnture and shall be special, <br />limited obligations of the Authority payable solely from the sources specified in the Indenture. <br />Ncither the State of California nor any public agency thereof (other than the Authority) nor any <br />member of the Authority nor any Project Participant shall be obligatcd to pay the principal of, or <br />interest on, the Bonds. Neither the faith and credit nor the taxing power of the State of California <br />or any public agency thereof or any member of thc Authority or any Project Participant is <br />pledged to the payment of the principal of, or interest on, the Bonds. The Bonds shall not <br />constitute a debt or indebtedness of the Authority within the meaning of any provision or <br />limitation of thc constitution or statutes of thc State of California, and they shall not constitute or <br />give rise to a pecuniary liability of the Authority or a charge against its general credit. <br />2. Each of the President and Vice Prcsident and each of the Secretary and any <br />Assistant Secretary of the Authority are hereby authorized, subject to Paragraph 9, to execute and <br />deliver a Twenty-First Supplemental Indenture of Trust which supplcmcnts and amends thc <br />senior Indenture of Trust, dated as of May 1, 1983, from the Authority to the Trustee (as <br />supplemented and amended, the "Senior Indenture"), in the form on file with the Assistant <br />Secretary of the Authority, with such changes, insertions and omissions (subject to Paragraph 4 <br />hereof) as shall be approved by said President or Vice President (such approval to be <br />conclusively evidenced by his or her execution and delivery thereof); and each of the Secretary <br />and any Assistant Secretary is hereby authorized to affix the seal of the Authority thereto (said <br />Supplemental Indenture, in the fbrm in which executed and delivered, is hereinafter referred to as <br />the "Supplemental Indenture"). The Supplemental Indenture is hereby made a part of this <br />Resolution as though set forth in full herein and the same hereby is approved. <br />3. Each of the President and Vice President of the Authority is hereby authorized, <br />subject to Paragraph 9, to execute and deliver a bond purchase agreement for the Bonds, between <br />the Authority and Merrill Lynch, Pierce, Fenner & Smith Incorporated (the "Initial Owner"). <br />Paymcnt for the Bonds shall be pursuant to the terms and conditions set forth in such bond <br />purchase agreement. <br />4. (a) Each of the President and Vice President of the Authority is hereby <br />authorized to determine, in connection with sale of the Bonds and the execution and delivery of <br />the Indenture and the Suppleniental Indenture, and in consultation with the Finance Committee, <br />the following: <br />(i) the aggregate principal amount of Bonds, which shall not exceed <br />$100,000,000; <br />(ii) the variable interest rate index or method of determining the rate of <br />interest on the Bonds from time to time; <br />(iii) the maturity date for the Bonds, which maturity shall not exceed <br />three years from the date of issuance of the Bonds; <br />(iv) the purchase price of the Bonds; <br />(v) the interest payment dates for the Bonds; <br />(vi) the terms and conditions for delivery of the Bonds;