12-95 Water System Bonds $3,300,000

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(ii) Mandatory Sinking Fund Redemption. Unless previously called for optional redemption, the Series 1995 Bonds which are issued as Term Bonds shall be subject to mandatory redemption, pursuant to Sinking Fund Requirements, as shall be determined by the Fiscal Officer and specified in the Certificate of Award, at a redemption price of 100% of the principal amount redeemed plus interest accrued to the redemption date, on the Principal Payment Dates and in the principal amounts set forth in the Principal Retirement Schedule. (g) Sale and Execution'of the Series 1995 Bon~. The Fiscal Officer is hereby authorkzed and directed promptly to negotiate t~ sale of the Series 1995 Bonds to the Original Purchaser upon terms consistent with the Series 1995 Bond Legislation. Such terms shall be incorporated into a Bond Purchase Agreement which shall be executed by the Original Purchaser and by the Issuer acting through the Mayor and the Fiscal Officer, or either one of them, each of whom are hereby authorized and directed to execute, after approval as to form and correctness by the Legal Officer, such Bond Purchase Agreement, with terms not inconsistent with the provisions and authorizations contained in the Series 1995 Bond Legislation, on behalf of the Issuer and to do al! things necessary and appropriate to complete and perform the terms and provisions thereof and the delivery of the Series 1995 Bonds to the Original Purchaser and, in accordance with the terms and provisions hereof and thereof, to make the necessary arrangements on behalf of the Issuer to establish the date, location, procedures and conditions for the delivery of the Series 1995 Bonds to the Original Purchaser to the extent not provided for in the Bond Purchase Agreement. The Bond Purchase Agreement shall be in substantially the form now on file with the Fiscal Officer which is hereby approved, with such changes therein as are not inconsistent with this Series 1995 Bond Legislation and not substantially adverse to the Issuer as may be approved by the Mayor and the Fiscal Officer, or either one of them. The approval of such changes, and that such changes are not substantially adverse to the Issuer, shall he.conclusively evidenced by the execution of the Bond Purchase Agreement by the Mayorand the Fiscal Officer, or either one of them. Such sale and award shall be further evidenced by the Certificate of Award si~ned by the Fiscal Officer which Certificate shall be incorporated into and form a part of the Indenture as if fully rewritten therein. The Certificate of Award shall state the aggregate principal amount of the Series 1995 Bonds to be'issued, the date of the Series 1995 Bonds, the designation of the account in the Rebate Fund for the Series 1995 Bonds, the Purchase Price, the Specified Interest Rates, the Principal payment Dates and Principal Retirement Schedule (including Sinking Fund Requirements), the Optional Earliest Redemption Date and the Optional Redemption Prices, the Term Maturity Dates and the Mandatory Redemption Dates, the amount, if any, to be transferred to or deposited in the Bond Fund and Bond Reserve Fund as a result of the issuance of the Series 1995 Bonds, together with such additional information as shall be required by the terms of this Series 1995 Bond Legislation and the Bond Purchase Agreement. The Mayor and FiScal Officer are further directed to take all steps necessary to effect due authentication, delivery and security of the Series 1995 Bonds under the terms hereof, the Indenture and the Bond Purchase Agreement. It is hereby determined that the Purchase Price and the Specified Interest Rates for the Series 1995 Bonds, the manner of sale and the terms of the Series 1995 Bonds, all as provided herein and in the Bond Purchase Agreement, will be in the best interests of theIssuer and consistent with all legal requirements. The Series 1995 Bonds shall be executed by the Mayor and the Fiscal Officer of the Issuer, provided that both of such signatures may be facsimiles. In connection with the issuance and sale of the Series 1995 Bonds, the law firm of Calfee, Halter & Griswold is hereby retained to act as Bond Counsel to the Issuer.