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Section 3. Security for Series 2004A Bonds. <br /> <br /> 3.01. Pledge of Net Revenues. From and after their issuance, the principal of and <br />interest on the Series 2004A Bonds, as set forth in Section 6.01 hereof, shall be payable solely <br />from and constitute a first lien and charge on the respective subaccounts of the Debt Service <br />Account, the Reserve Account and the Net Revenues of the Electric System. <br /> <br /> 3.02. Reserve Account Requirement. Upon issuance of the Series 2004A Bonds, the <br />Commission shall deposit, from available funds on hand, in the Reserve Account $94,000, so <br />that the balance in the Reserve Account shall be not less than the then applicable Reserve <br />Requirement. <br /> <br /> 3.03. Not General Obligations. The Series 2004A Bonds are not general obligations of <br />the City or the Commission and the full faith and credit and taxing powers of the City are not <br />pledged for their payment. <br /> <br />Section 4. Form of Series 2004A Bonds. <br /> <br /> 4.01. Series 2004A Bond Form. The Series 2004A Bonds shall be prepared in <br />substantially the following form: <br /> <br />1670578vl 5 <br /> <br /> <br />