51-06 Issuance/Sale of Water System Revenue Bonds $12,500,00

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(i) Ovtioual Redemution Terms and Prices. The Series 2006 Bonds shall be non" callable for redemption at the option of the Issuer prior to the Optional Earliest Redemption Date. The Series 2006 Bonds maturing after the üptional Earliest Redemption Date shall be subject to redemption by and at the option of the Issuer prior to their stated maturity, either in whole or in part, on any date on and after the Optional Earliest Redemption Date, in the principal amount of $5,000 or any integral multiples thereof at the applicable Optional Redemption Price plus, in each case, accrued interest to the redemption date. The Series 2006 Bonds shall 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 amount redeemed plus accrued interest to the date fixed for r~demption, 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"ll 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 1012 of the Original Indenture. (ii) Mandatorv Sinking Fund Redemution. Unless previously called for optioual redemption, the Series 2006 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 2006 Bonds. The Fiscal Officer is hereby authorized and directed promptly to negotiate the sale of the Series 2006 Bonds to the Original Purchaser upon terms consistent with the Series 2006 Bond Legislation. Such terms shall be incorporated into a Bond Purchase Agreemeut which shall be execoted by the Origiual Purchaser and by the Issuer acting through the Mayor and the Fiscal Officer, or either one of them, each of whom is 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 2006 Bond 'Legislation, on behalf.ofthe Issuer and to do all things necessary and appropriate to complete 31id perform ·the terms and provisions thereof and the delivery of the Series 2006 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 delivary ofthe Series 2006 Bonds to the Original Purchaser to the extent not provided for in the Bond Purchase Agreemeut The Bond Purchase Agreement shall be in substantially the form now on file, or as will be on file no later than the date of passage of this Series 2006 Bond Legislation, with the Fiscal Officer which is hereby approved, with such changes therem as are not inconsistent with this Series 2006 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 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 fonu a part of the Indenture as if fully rewritten therein. The Certificate of Award shall state· (i) the aggregate principal amount of the Series 2006 Bonds to be issued; (ii) the date of the Series 2006 Bonds; (iii) the designation of the account in the Rebate Fund for the Series 2006 Bonds; (iv) the Purchase Price; (v) the Specified Interest Rates; (vi) the Principal Payment Dates and Principal Retirement Schedule (including Sinking Fuod Requirements); (vii) the Optioual Earliest Redemption Date and the Optioual Redemption Prices; (viii) the Term Maturity Dates and the Mandatory Redemption Dates; (ix) the amouot, 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 2006 Bonds and (x) such additional infonuation as shall be required by the tenus of this Series 2006 Bond Legislation and the Bond Purchase Agreement The Mayor and Fiscal Officer are further directed to take all steps necessary to effect due authenticatiou, delivery and security of the Series 2006 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 2006 Bonds, the mauoer of sale and the terms of