No. 1118 authorizing issuance of bonds on parity with COSB redevelopment district tax increment revenue bonds of 1985, 1986, 1988 for the purpose of raising money for redevelopment in the SBCAA

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value plus interest accrued on the Bonds so redeemed to the date fixed for redemption, and without premium. Unless waived by any holder of Bonds to be redeemed, official notice of any such redemption shall be given by the Registrar on behalf of the Commission by mailing a copy of an official redemption notice by registered or certified mail at least thirty (30) days and not more than sixty (60) days prior to the date fixed for redemption to the registered owner of the Bond or Bonds to be redeemed at the address shown on the Series 1992 Bond Register or at such other address as is furnished in writing by such registered owner to the Registrar; provided, however, that failure to give such notice, or any defect therein, with respect to any bond shall not affect the validity of any proceedings for the redemption of other bonds. Official notice of redemption having been given as aforesaid, the Bond or portions of Bonds so to be redeemed shall, on the redemption date, become due and payable at the redemption price therein specified, and from and after such date (unless the Commission shall default in the payment of the redemption price) such Bonds or portions of Bonds shall cease to bear interest. Upon surrender of such Bonds for redemption in accordance with said notice, such Bonds shall be paid by the Paying Agent at the redemption price. Bonds redeemed in part may be exchanged for a bond or bonds of the same maturity in Authorized Denominations equal to the remaining principal amount. The principal of and premium, if any, and interest on this Bond and all other bonds of the Series 1992 Bond issue and (1) certain Tax Increment Revenue Bonds of 1985 issued on December 23, 1985 in the aggregate principal amount of Four Million Two Hundred Thousand and 00 /100 ($4,200,000.00) pursuant to Resolution No. 747 and Amending Resolutions Nos. 752, 755 and 756 adopted August 23, 1985, November 18, 1985, November 22, 1985, and December 20, 1985, respectively, which Bonds in the amount of Three Million Eight Hundred Seventy - Five and 00 /100 Dollars ($3,875,000.00) are outstanding as of December 1, 1992, and will mature in various amounts annually on February 1 of each year through and including February 1, 2003; (2) certain Tax Increment Revenue Bonds of 1986 issued on August 12, 1986, in the aggregate principal amount of One Million Seven Hundred Fifty Thousand and 00 /100 Dollars ($1,750,000.00) pursuant to Resolution No. 775 and Amending Resolutions Nos. 779 and 780 adopted May 23, 1986, July 11, 1986 and July 25, 1986, respectively, which Bonds in the amount of One Million Seven Hundred Thousand and 00 /100 Dollars ($1,700,000.00) are outstanding as of December 1, 1992, and will mature in various amounts annually on February 1 of each year through and including February 1, 2004; (3) certain Tax Increment Revenue Bonds of 1988 issued on February 24, 1988, in the aggregate principal amount of One Million Eight Hundred Thousand and 00/100 Dollars ($1,800,000.00) pursuant to Resolution No. 819 adopted on November 12, 1987, which Bonds in the amount of $1,800,000.00 are outstanding as of December 1, 1992 and will mature at various amounts annually on February 1 of each year beginning on February 1, 1993, through and including February 1, 2005; and (4) any bonds hereafter issued ranking on a parity herewith are payable solely out of the Tax Increment. In the manner provided in the Series 1992 Bond Resolution, the Series 1992 Bond Resolution and the rights and obligations of the Commission and of the owners of the Bonds may (with certain exceptions as stated in the Series 1992 Bond Resolution) be modified or amended with the consent of the owners of sixty percent (60 %) in aggregate principal amount of outstanding Bonds exclusive of Bonds, if any, owned by the Commission or the City. Additional Bonds ranking on a parity with the Bonds authorized by the Series 1992 Bond Resolution and other bonds, junior to the Bonds authorized by the Series 1992 Bond Resolution, can be issued in accordance with the terms of the Series 1992 Bond Resolution. 15