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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 was made from the special reserve fund. <br />B. If any assessment is prepaid before final <br />maturity of the bonds, the amount of principal which the <br />assessee is required 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, together with accrued interest, as the original <br />amount of the prepaid assessment bears to the total amount of <br />assessments originally levied in Assessment District No. 1986-8, <br />Hacienda Business Park - Phase II. This reduction in the amount <br />of principal prepaid shall be balanced by a transfer from the <br />special reserve fund to the redemption fund in the same amount. <br />C. Whenever required to prevent the reserve fund <br />from exceeding the reserve limitations set by federal statute <br />and regulation, the Director of Finance is directed to transfer <br />accrued interest from the special reserve fund to the redemption <br />fund from time to time, and to establish pro rata credits <br />against annual installments of assessment principal and interest <br />in the same amount in the year following the year of transfer. <br />The amounts deposited in the reserve fund will never exceed 10% <br />of the proceeds, and interest earnings on the reserve fund after <br />the reserve fund reaches said 10% maximum level will be <br />transferred to the redemption fund as set forth hereinabove. <br />From time to time, the City Council may authorize the Director <br />of Finance to transfer all or any portion of accrued interest on <br />investment of the special reserve fund from that fund to the <br />4 <br />