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bv the Council from time to time as prescribed by the Act. <br /> <br /> Section 5.2. REDEMPTION FUND. The redemption fund shall <br />be maintained by the Director of Finance. All payments of principal <br />and interest installments on the assessmentS, together with <br />penalties, if any, shall be deposited in the redemption fund, which <br />shall be a trust fund for the benefit of the bondholders. Payment <br />of the bonds at maturity, or at redemption prior to maturity, and <br />all interest on the bonds shall be made from the redemption fund. <br /> <br />Section 5.3. SPECIAL RESERVE FUND. The special reserve <br />fund shall be maintained by the Director of Finance. There shall be <br /> <br />deposited into the special reserve fund <br />from the proceeds of the sale of bonds. <br />shall be administered as follows: <br /> <br />the amount of $900,000.00 <br />The special reserve fund <br /> <br /> A. During the term of the bonds, the amount in the <br />special reserve fund shall be available for transfer into the <br />redemption fund in accordance with Section 8808 of the Streets and <br />Highways Code. The amount so advanced shall be reimbursed to the <br />special reserve fund from the proceeds of redemption or sale of the <br />parcel for which payment of delinquent assessment installments was <br />made from the special reserve fund. <br /> <br /> B. If any assessment is prepaid before final maturity <br />of the bonds, the amount of principal which the assessee is required <br />to prepay shall be reduced by an amount which is in the same ratio <br />to the original amount of the special reserve fund, together with <br />accrued interest, as the original amount of the prepaid assessment <br />bears to the total amount of assessments originally levied in <br />Assessment District No. 82-3, Meyer Center. This reduction in the <br /> <br /> <br />