Revenue bonds may be authorized and issued by the City Council to finance the acquisition, construction and improvement of, including the reconstruction, replacement, extension, repair, betterment and equipment for, any revenue producing improvement, building, system, plant, works, facility or undertaking (the “enterprise”) used for any public purpose, in such form and upon such conditions determined by resolution of the City Council; provided such revenue bonds shall be payable exclusively from the revenues derived from said enterprise or specific portions thereof as may be allocated and pledged to the payment of such revenue bonds. The City Council may also issue refunding revenue bonds in such form and upon such terms and conditions determined by resolution of the City Council. The provisions of this section constitute full and complete authority for the issuance of revenue bonds and refunding revenue bonds and no other procedure, consent, approval, order or election shall be required.

Revenue bonds issued pursuant to this section shall not be taken into consideration in determining the bonded indebtedness which the City is authorized to incur pursuant to vote of the electors, as limited by the Charter or the laws of the State of California. (Amended November 8, 1988)