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FIRST AMENDMENT TO THE <br /> FINANCING ADMINISTRATION AGREEMENT <br /> This First Amendment to the Financing Administration Agreement, made and <br /> entered into this; day ofju,u., 2004, by and between the City of Pleasanton, a <br /> municipal corporation of the State of California ( "City ") and the Dublin San Ramon <br /> Services District, a public agency of the State of California ( "District "); <br /> WITNESSETH: <br /> WHEREAS, City and District entered into that certain Agreement entitled the <br /> Financing Administration Agreement ("Agreement") on December 5, 2000, and that <br /> Agreement established procedures and requirements for the management and <br /> administration of funds by District in connection with the debt service for bonds issued to <br /> finance certain wastewater facilities; and <br /> WHEREAS, City and District have each determined that it is in their respective <br /> and mutual best interests to enter into a First Amendment to said Agreement to revise <br /> certain of said procedures and requirements; <br /> NOW, THEREFORE, THE PARTIES HERETO AGREE AS FOLLOWS: <br /> 1. Section 7 (f) is of said Agreement is hereby amended to read as follows: <br /> (i) Any Surplus funds determined to exist at the end of the Fiscal <br /> Years ending in 2003 and 2004 shall be used solely for the restricted purpose <br /> of redeeming any variable rate District bonds pertaining to the WWTP Stage 4 <br /> Expansion Project which are then redeemable. Such restricted funds shall be <br /> used to pay down said debt at any time the interest rate payable on said debt <br /> exceeds the interest rate being earned in the Rate Stabilization Fund, or prior <br />