52-06 Issuance/Sale of Sewer System Revenue Bonds $16,500,000

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Such sale and award shall be further evidenced by the Certificate of Award signed by the Fiscal Officer wbich Certificate shall be iucorporated into and fonn a part of the lodenture as if fully rewritteu 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 Bouds; (iii) the designation of the account in the Rebate Fund for the Series 2006 Bauds; (iv) the Purchase Price; (v) the Specified loterest Rates; (vi) the Principal Payment Dates and Principal Retirement Schedule (including Sinking Fund Requirements); (vii) the Optioual Earliest Redemptiou Date and the Optional Redemptiou Prices; (viii) the Term Maturity Dates and the Mandatory Redemptiou Dates; (ix) 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 2006 Bonds and (x) such additional infonnation as shall be required by the terms of this Series 2006 Bond Legis1ation 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 2006 Bonds under the terms hereof, the Ihdenture and the Bond Purchase Agreemeut. It is hereby detennined that the Purchase Price and the Specified interest Rates for the Series 2006 Bonds, the manner of sale and the tenns of the Series 2006 Bonds, all as provided herein and in the Bond Purchase Agreemeut, will be in the best interests of the Issuer and consistent with a111egal requirements The Series 2006 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 2006 Bonds, the law finn of Calfee, Halter & Griswold LLP is hereby retained to act as Baud Counsel to the Issuer. (h) Additional Authorizations. The Mayor, the Fiscal Officer, the Clerk and the Legal Officer are hereby authorized and directed to take any and all actious necessary or proper consistent with the tenns of this Series 2006 Bond Legislation and the Indenture to effect the execution, authenticatiou and delivery of the Series 2006 Bonds to the Original Purchaser, including without limitation the execution of financing statements. assignments and instruments necessary or appropriate to perfect, to the extent permitted by law, the Hen of the Indenture to the Special Funds and the furnishing of the appropriate certificates, opiuions and other instruroents provided for in this Series 2006 Boud Legislatiou and in the lodenture. The Mayor, the Fiscal Officer, the Clerk and the Legal Officer, or anyone of them, are hereby authorized and directed to take any and all actions necessary or proper consisteut with the terms of this Series 2006 Bond Legislatiou and the lodeuture to refund the Series 2006 Notes at the earliest possible time after the issuance and delivery of the Series 2006 Bonds. Section 4" Security and Sources ofPavment. The Series 2006 Bonds shall be issued on a parity with any Additional Bonds hereafter issued as to the Holder's rights and security under the lodenture. Bond Service Cbarges on the Series 2006 Bouds shall be payable from those sources as set forth in Section 501 of the Trust Agreement, except that to the extent that a surety bond, the proceeds of which are and will irrevocably be available to pay Bond Service Charges on the Series 2006 Bonds, is obtained in lieu of a cash deposit to the Bond Reserve Fund to satisfy the Bond Reserve Requirement with respect to the Series 2006 Bonds, Bond Service Charges on the Series 2006 Bonds shall not be secured by nor payable from any moneys or iuvestments deposited to the credit of the Boud Reserve Fund. Payment of Bond Service Cbarges on the Series 2006 Bonds shall be secured oIÙY as provided for herein and in the lodenture. Section 5. Allocatiou of Purchase Price of the Series 2006 Bonds. The Purchase Price shall be received and receipted by the Fiscal Officer, or by the Trustee on the Issuer's behalf, and shall be allocated, deposited and credited as follows' (a) the amoUnt representing accrued interest, as such amount is specified in the Certificate of Award, shall be deposited to the credit of the appropriate account in the Boud Fund created by Section 401 of the Trust Agreement Indenture; (b) the amount, if any, to provide a cash funding oft1w Bond Reserve Requirement with respect to the Series 2006 Bonds shall be deposited to the credit of a separate account in the Bond Reserve Fund; provided, however, that iftheIssuer, acting through the Fiscal Officer, has elected to obtaiu a surety bond in satisfaction of the Bond Reserve Requirement for the Series 2006 Bonds, the amount of the premium required to be paid to the provider of such surety bond on the date of delivery of the Series 2006 Bouds shall be paid to such providor by the Trustee from the proceeds of the Series 2006 Bauds deposited to the credit of the appropriate; account of the Construction Fund pursuant to item (d) below and according to the writteu instroctious of the Fiscal Officer;