RES 02047 - Laserfiche WebLink

I. Instructions to the 1989 Trustee. The City hereby directs and instructs the 1989 Trustee as follows: 1.1 Deposits to the Prepayment Fund. The 1989 Trustee shall deposit into the prepayment fund established pursuant to the 1989 Trust Agreement (the "Prepa)ment Fund"') the moneys (including all earnings and accrued interest thereon) transferred to it by the Trustee from the proceeds of the Bonds in the amount of $ . and shall also transfer the amounts set forth in Schedule A hereto. 1.2 Payments with Respect to the 1989 Certificates. The 1989 Trustee shall apply the amounts on deposit in the Prepa)ment Fund to pay, on June 6, 2002, the principal maturity and interest with respect to all 1989 Certificates maturing after September I. 2002, along with the applicable prepayment premium. as provided in Section 5.02(c) of the 1989 Trust Agreement. The City hereby irrevocably designates the 1989 Certificates maturing on and after September I. 2002 for prior prepayment on June 6. 2002 and hereby irrevocably instructs the 1989 Trustee to give the mailed notice of prepayment as provided in the 1989 Trust Agreement. 1.3 Excess Funds to City. Following the prepayment of the 1989 Certificates on June 6. 2002. the 1989 Trustee shall remit to the City any remaining funds held by the 1989 Trustee in the Prepayment Fund. II. Irrevocability. These Instructions shall be irrevocable and may not be amended or modified unless for the purpose of (A) curing any ambiguity or omission relating to these Instructions or of curing. correcting or supplementing any defective provision contained herein: (B) adding to or supplementing the rights of the o\\ners of the 1989 Certificates: or (C) severing any portion of these Instructions deemed to be illegal and the 1989 Trustee first shall have received an unqualified opinion from nationally recognized bond counsel to the effect that such amendment or modification is in compliance with the requirements of this Section II and would not. in and of itself. cause the 1989 Certificates or the Bonds to become arbitrage bonds within the meaning of Section 148 of the Internal Revenue Code of 1986. as amended. and the regulations thereunder in effect at the time of such proposed arnendment or modification. Except as otherwise provided herein. the owners of the 1989 Certificates shall have an express lien on all funds and amounts. and all earnings thereon and accretions thereto. on deposit in the Prepayment Fund with the 1989 Trustee in accordance with these Instructions until used and applied in accordance herewith. III. Liability. The liability of the 1989 Trustee for the payment of moneys as hereinabove set forth respecting the payrnent of the principal of and interest with respect to. and the prepayment of. the 1989 Certificates shall be limited solely to the moneys on deposit with the 1989 Trustee in -2- Pleasanton Sewer Escrow Instructions (2).DOC