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interest at the rates set forth in the table attached as Exhibit A. <br /> <br /> Section 3. APPOINTMENT OF PAYING AGENT, REGISTRAR AND <br />TRANSFER AGENT. The City Council hereby appoints the Bank of <br />America National Trust and Savings Association, as paying agent, <br />registrar and transfer agent for the bonds in accordance with an <br />agreement between the City of Pleasanton and Bank of America <br />National Trust and Savings Association heretofore approved by the <br />City Council. <br /> <br /> Section 4. FORM AND EXECUTION. Bonds shall be issued as <br />fully registered bonds substantially in the form set forth as <br />Exhibit B to this resolution. The bonds shall be signed by the City <br />Treasurer and the City Clerk and the seal of the City shall be <br />affixed. Both signatures and seal may be reproduced on the bonds by <br />facsimile, but upon its registration or reregistration each bond <br />shall be authenticated by the manual signature of the registrar. <br /> <br /> The paying agent shall assign to each bond authenticated and <br />registered by it a distinctive letter, or number, or letter and <br />number, and shall maintain a record thereof which shall be available <br />to the City for inspection. <br /> <br /> Section 5. ESTABLISHMENT OF SPECIAL FUNDS. For <br />administering the proceeds of the sale of bonds and payment of <br />interest and principal on the bonds, there are hereby established <br />five funds to be known as the improvement fund, the redemption fund, <br />the special reserve fund, the investment earnings fund and the <br />arbitrage rebate fund, respectively, for Assessment District No. <br />1988-1, Old Santa Rita Road, City of Pleasanton, Alameda County, <br /> <br /> 2 <br /> <br /> <br />