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bear interest at the rates set forth in the table attached as <br />Exhibit A. <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 and Bank of America National Trust <br />and Savings Association heretofore approved by the City Council. <br />Section 4. FORM AND EXECUTION. Bonds shall be issued <br />as fully registered bonds substantially in the form set forth as <br />Exhibit B to this resolution. The bonds shall be signed by the <br />City Treasurer and the City Clerk and the seal of the City shall <br />be affixed. Both signatures and seal may be reproduced on the <br />bonds by facsimile, but upon its registration or reregistration <br />each bond shall be authenticated by the manual signature of the <br />registrar. <br />The paying agent shall assign to each bond <br />authenticated and registered by it a distinctive letter, or <br />number, or letter and number, and shall maintain a record <br />thereof which shall~be available to the City for inspection. <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 <br />established three funds to be known as the improvement fund, the <br />redemption fund and the special reserve fund, respectively, for <br />Assessment District No. 1986-8, Hacienda Business Park - Phase <br />II. <br />2 <br />