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with penalties, if any, shall be deposited in the redemption <br />fund, which shall be a trust fund for the benefit of the <br />bondholders. Payment of the bonds at maturity, or at redemption <br />prior to maturity, and all interest on the bonds shall be made <br />from the redemption fund. <br /> <br /> Section 9.3. SPECIAL RESERVE FUND. The special <br />reserve fund shall be maintained by the Director of Finance. <br />There shall be deposited into the special reserve fund the <br />amount of $883,T98.00 from the proceeds of the sale of bonds. <br /> <br /> A. Durin~ the term of the bonds, the amount in <br />the special reserve fund shall be available for transfer into <br />the redemption fund in accordance with Section 8808 of the <br />Streets ~nd Highways Code. The amount so ~dvanced shall be <br />reimbursed to the special reserve fund from the proceeds of <br />redemption or sale of the parcel for which payment of delinquent <br />assessment installments w~s made from the special reserve fund. <br /> <br /> B. If any assessment is prepaid before final <br />maturity of the bonds, the amount of principal which the <br />assessee is re~ired to prepay shall be reduced by an amount <br />which is in the same ratio to the original amount of the special <br />reserve fund as the original amount of the prepaid assessment <br />bears to the total amount of assessments originally levied in <br />Assessment District No. 1988-~, North Pleasanton Improvement <br />District No. 3. This reduction in the amount of principal <br />prepaid shall be balanced by a transfer from the special reserve <br />fund to the redemption fund in the same amount. <br /> <br /> C. The amounts deposited in the reserve fund will <br /> <br /> <br />