55B - RESO - WARNER ASSESSMENT DISTRICT

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September 2, 20 through March 2, 20_ 10 % September 2, 20 and March 2, 20 10 % September 2, 20V and March 2, 20_ 10 September 2, 26— thereafter 10_% In selecting Bonds for redemption pursuant to this subsection (B), the City shall select such Bonds in such a way that the ratio of the principal amount of the Bonds in each maturity of the Bonds that will remain Outstanding to the aggregate principal amount of the Bonds that will remain Outstanding will be approximately the same as it was prior to the redemption of such Bonds, insofar as possible. (C) Sinking Fund Redmption. The Outstanding Bonds maturing on September 2, 20_, are subject to mandatory sinking fund redemption, in part, on September 2, 20_, and on each September 2 thereafter prior to maturity, by lot, at a redemption price equal to the principal amount thereof to be redeemed, together with accrued interest to the date of redemption, without premium, from sinking fund payments as follows; Redemption Dates (September 2) Sinking Fund Pavments (maturity) The amounts in the foregoing schedule shall be reduced pro rata among redemption dates, in order to maintain substantially level Annual Debt Service, as directed in writing to the Fiscal Agent by an Authorized Officer, as a result of any prior partial redemption of the Bonds pursuant to subsection (A) or subsection (B) above. (D) Purchase of Bonds. In lieu of payment at maturity or redemption under this Section 2.03, moneys in the Redemption Fund may be used and withdrawn by the Fiscal Agent for purchase of Outstanding Bonds, upon the filing with the Fiscal Agent of an Officer's Certificate requesting such purchase, at public or private sale as and when, and at such prices (including brokerage and other charges) as such Officer's Certificate may provide, but in no event may Bonds be purchased at a price in excess of the principal amount thereof, plus interest accrued to the date of purchase. The Fiscal Agent shall be absolutely protected and shall incur no liability in relying on such an Officer's Certificate. (E) Notice to Fiscal Agent. An Authorized Officer shall give the Fiscal Agent written notice of the City's intention to redeem Bonds (other than for mandatory sinking fund redemption) not less than forty -five (45) days prior (or such lesser number of days acceptable to the Fiscal Agent, such notice for the sole use and convenience of the Fiscal Agent) to the applicable redemption data and shall specify the principal amount and the maturities of the Bonds to be redeemed. -13- 55B -33