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City Council <br />City of Pleasanton <br />September 9, 1982 <br />Page Two <br /> <br />Maturity Schedule: <br /> <br />Date of Bonds: <br /> <br />Foreclosure Clause: <br /> <br />Reserve Fund: <br /> <br />Serially from 7-2-84 to 7-2-97 as <br />shown below: <br /> <br />1983 <br />1984 <br />1985 <br />1986 <br />1987 <br />1988 <br />1989 <br />1990 <br />1991 <br />1992 <br />1993 <br />1994 <br />1995 <br />1996 <br /> <br />/84 <br />/85 <br /> <br />/87 <br />/88 <br />/89 <br />/90 <br />/91 <br />/92 <br />/93 <br />/94 <br />/95 <br />/96 <br />/97 <br /> <br />$ 60 000.00 <br />75 000.00 <br />200 000.00 <br />235 000.00 <br />265 000.00 <br />295 000.00 <br />325,000.00 <br />365,000.00 <br />415,000.00 <br />465,000.00 <br />520,000.00 <br />560,000.00 <br />560,000.00 <br />560,000.00 <br /> <br />Approximately September 21, 1982. <br /> <br />City to covenant to commence <br />judicial foreclosure of delinquent <br />assessments within 120 days of any <br />delinquency. <br /> <br />The City shall establish from the pro- <br />ceeds of the bonds a reserve fund ~qual <br />to 4.00% of the principal amount of the <br />bonds. In establishing the amount to <br />be deposited in the reserve fund from <br />the proceeds of the bonds, we have <br />considered the applicability of the <br />City to accumulate in the reserve fund <br />all proceeds from investment of monies <br />in said reserve fund until the total <br />of the fund reaches 15% of the prin- <br />Cipal amount of the bond proceeds less <br />any discount, plus accrued interest. <br />In this instance, the reserve fund has <br />been initially established as set forth <br />above, which amount (taking into account <br />retention in said reserve fund of the <br />estimated proceeds from investment <br />of monies in said reserve fund) we <br />deem reasonable for this issue and <br />necessary to market the bonds at <br />competitive market rates. <br /> <br /> <br />