9712-06 Authorizing the Issuance and Sale of CED Income Tax Rev Bonds to Previously issued and current Outstanding CED Bonds

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In the event that the successful bidder opts to aggregate certain Refunding Bonds into Term Bonds, such Term Bonds shall be subject to mandatory sinking fund redemption prior to maturity at a redemption price equal to one hundred percent (100%) of the principal amount thereof, plus accrued interest to the redemption date, but without premium, on February 1 and/or August 1 of each year and in the principal amounts as set forth in the Purchase Agreement. The Registrar and Paying Agent shall credit against the current mandatory sinking fund redemption requirement for a Term Bond of a particular maturity, any Refunding Bonds of such maturity delivered to the Registrar and Paying Agent for cancellation or purchased for cancellation by the Registrar and Paying Agent and canceled by the Registrar and Paying Agent and not theretofore applied as a credit against any mandatory sinking fund requirement. Each Refunding Bond so delivered or purchased shall be credited by the Registrar and Paying Agent at one hundred percent (100%) of the principal amount thereof against the mandatory sinking fund redemption requirements for the applicable Term Bond in order of mandatory sinking fund redemption (or final maturity) dates determined by the City, and the principal amount of such Tenn Bond to be redeemed on such mandatory sinking fund redemption dates by operation of the mandatory sinking fund redemption requirements shall be reduced accordingly; provided, however, the Registrar and Paying Agent shall only credit Refunding Bonds against the mandatory sinking fund requirements to the extent such Refunding Bonds are received on or before forty-five (45) days preceding the applicable mandatory sinking fund redemption date. The Registrar shall determine by lot (treating each Five Thousand Dollars ($5,000) of principal amount of each Refunding Bond as a separate Refunding Bond for such purpose) the Refunding Bonds within a Tenn Bond of a particular maturity to be redeemed pursuant to the mandatory sinking fund redemption requirements on February 1 and/or August 1 of each year. Notice of any such mandatory sinking fund redemption shall be given in the same manner as notice of optional redemption is required to be given pursuant to this Section 1. If Refunding Bonds are to be redeemed by optional redemption and mandatory sinking fund redemption on the same date, the Registrar shall select by lot the Refunding Bonds for optional redemption before selecting the Refunding Bonds by lot for the mandatory sinking fund redemption. In the event any of the Refunding Bonds are issued as Tenn Bonds, the forms of the Refunding Bonds set forth in Section 4 of this Ordinance shall be modified accordingly. Any reference to payment of principal on the Refunding Bonds shall include payment of scheduled mandatory sinking fund redemption payments described in this Section 1. SECTION 2. A registrar and paying agent for the Refunding Bonds (the "Registrar" and the "Paying Agent" and, in both such capacities, the "Registrar and Paying Agent") shall be appointed by the City Controller (the "Controller"), with such appointment to be certified in writing by the Controller. The Registrar and Paying Agent shall be charged with and shall by appropriate agreement undertake the performance of all of the duties and responsibilities customarily associated with each such position, including, without limitation, the authentication of the Refunding Bonds. The Controller is further authorized and directed to enter into such BDDBOI 4539793v1 -5-