Pomona Municipal Code Art. XI Revenue Bonds

(a) The City shall have the power to issue revenue bonds for the purpose of financing the acquisition, construction, extension, improvement or repair of any municipal utility or other revenue producing facilities. Such bonds shall be proposed either by initiative or by the affirmative vote of five-sevenths ( 5/7 ) of the total membership of the Council. Said bond shall be issued if authorized by the affirmative vote of a majority of those electors voting on the question of incurring such indebtedness at any election at which such question is submitted to the electors of the City.

(b) The Council may issue and sell authorized bonds, may fix the terms and conditions thereof, and may make, fix and establish such covenants, conditions, terms and provisions as necessary or desirable to facilitate the issuance and sale of the bonds or for the protection and security of the bondholders.

(c) Bonds issued pursuant to this article shall not be general obligations of the City but shall be payable, principal and interest, solely from revenues or other special funds specifically pledged to that purpose.