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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 thi~ day of 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 />