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-19- <br />(c) Of the 2021 Bonds Outstanding at any particular time, sixty-nine and fifty-four hundredths percent (69.54%) of the principal amount of the 2021 Bonds shall be treated as Expansion Project Bonds, and thirty and forty-six hundredths percent (30.46%) shall be treated as Rehabilitation Project Bonds. Section 4.08. Rate Stabilization Fund. The District, for its own account and Pleasanton’s, hereby agrees to maintain a fund to be called the “Rate Stabilization Fund.” The Rate Stabilization Fund shall, except as provided in paragraph (5) below, be maintained by the District, so long as the Bonds are Outstanding, and shall be funded and applied as provided below: (1) All Regional Capacity Reserve Fees, whether collected by the District or collected by Pleasanton and paid to the District, shall be deposited into the Rate Stabilization Fund. (2) All amounts in the Rate Stabilization Fund shall be available to pay the following: (a) Expansion Project Debt Service; (b) Bond Redemptions; (c) any capital improvements permitted to be paid for from the Regional Capacity Reserve Fees under the Regional Agreement, as well as any reimbursement of replacement reserves and any funds other than Regional Capacity Reserve Fees which have been deposited therein or which have been advanced by the District or Pleasanton from Regional Service Charges to pay Expansion Project Debt Service; and (d) any other purpose agreed to between the District and Pleasanton. (3) The District shall attempt to maintain the Rate Stabilization Fund at the Target Level; provided, that the District shall not be required to fund the Rate Stabilization Fund from revenues derived from Regional Service Charges or Regional Buy-In Capacity Fees assessed on wastewater customers. (4) Amounts in the Rate Stabilization Fund shall be available to pay the items listed in Section 4.08(2)(a) through (d) above; provided, that draws on the Rate Stabilization Fund shall not cause the funds therein to fall below the Target Level, except as expressly hereinafter provided. In the event draws on the Rate Stabilization Fund would cause the Rate Stabilization Fund balance to fall below the Target Level, such draw shall be limited to pay Expansion Project Debt Service, in an amount equal to the sum of: (i) one-third (1/3) of the lesser of (a) the Target Level, or (b) the amount then on hand in the Rate Stabilization Fund; plus (ii) the amount then on hand in the Rate Stabilization Fund in excess of the Target Level.