148-02 Water System Mortgage Revenue Bonds

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moneys for redemption of all such Series 2002 Refunding Bonds to be redeemed, together with aoerued interest to the redemption date, and any applicable redemption premium shall be held by the Trustee or Paying Agents so as to be available therefor, then from and after such redemption date such Series 2002 Refunding Bonds or portions thereof shall cease to bear interest. (i) Optional Redemption Terms and Prices. The Series 2002 Refunding Bonds shall be non-callable for redemption at the option of the Issuer prior to the Optional Earliest Redemption Date. The Series 2002 Refunding Bonds maturing after the Optional Earliest Redemption Date shall be subject to redemption by and at the option of the Issuer prior to their stated maturity, either in whole at any time or in part on any Interest Payment Date, on and after the Optional Earliest Redemption Date, in the principal mount of $5,000 or any integral multiples thereof at the applicable Optional Redemption Price plus, in each ease, accrued interest to the redemption date. The Series 2002 Refunding Bonds shail be subject to extraordinary optional redemption by the Issuer, in whole or in part on any date at a redemption price of one hundred percent (100%) of the principal mount redeemed plus accrued interest to'the date fixed for redemption, in the event of damage to or destruction of the Mortgaged Properties or any portion thereof upon the terms and conditions and as more particularly described in Section 10.11 of the Original Indenture, or in the event of condemnation of the Mortgaged Properties or any portion thereof upon the terms and conditions and as more particularly described in Section 10.12 of the Originai Indenture. (ii) Mandatorg Sinking Fund Redemption. Unless previously called for optional redemption, the Series 2002.Refunding Bonds which are issued as Term Bonds shall be subject to mandatory redemption, pursuant to Sinking Fund Requirements, as shail 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 2002 Refunding Bonds. The Fiscal Officer is hereby authorized and directed promptly to negotiate the sale of the Series 2002 Refunding Bonds to the Original Purchaser upon terms consistent with the Series 2002 Refunding 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 2002 Refunding Bond Legislation, on behalf of the Issuer and to do all things necessary and appropriate to complete and'perform the terms and provisions thereof and the delivery of the Series 2002 Refunding 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 2002 Refunding Bonds to the Original Purchaser to the extent not provided for in the Bond Purchase Agreement. The Bond Purchase Agreement shail be in substantially the form now on file, or as will be on file no later than the date of passage of this Series 2002 Refunding Bond Legislation, with the Fiscal Officer which is hereby approved, with such changes therein as are not inconsistent with this Series 2002 Refunding 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 approvai of such changes, and that such changes are not substantially adverse to the Issuer, shall be conclusively evidenced by the execution of the Bond Purchase Agreement by the Mayor and the Fiscal Officer, or either one of them. Such sale and award shall be further evidenced by the Certificate of Award signed 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: (i) the aggregate principal amount of the Series 2002 Refunding Bonds to be issued; (ii) the portion thereof, if any, whose proceeds are to be initially applied or attempted to be applied to the purchase by means of a tender offer, of any or all of the Series 1995 Bonds Outstanding; (iii) the date of the Series 2002 Refunding Bonds; (iv) the designation of the account in the Rebate Fund for the Series 2002 6