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. . . . . " Section 6, Section l1A(5) and (6) are hereby amended to read as follows: "(5) The Bonds are subject to mandatory redemption as a whole (but not in part) on any date prior to the expiration date of the Initial Letter of Credit, upon receipt by the Fiscal Agent of written notice from the Bank that an event of default under the Reimbursement Agreement has occurred and instructing the Fiscal Agent to redeem all Bonds. (6) The Special Term Bonds are subject to mandatory redemption as a whole or in part on December 15, 1986, December 15, 1987, and December 15, 1988 in the event proceeds remaining in the Escrow Fund cannot be invested in investments at a rate equal to or in excess of the 7.5% per annum which would maintain the rating on the Bonds and on December 15,1990, if the Tax Revenues with respect to the Bonds received or to be received by the Agency for the 1990/91 Fiscal Year are not equal to at least 1.20 times the Maximum Annual Debt Service remaining on the Bonds then Outstanding payable from moneys on deposit in the Escrow Fund. " Section 7, follows: Section llC is hereby amended to read as "c. Redemption Account. Prior to the mailing of notice as required above, the Fiscal Agent shall establish, maintain and hold in trust a separate account within the Special Fund created pursuant to Section 12 hereof entitled "Redemption Account", The Fiscal Agent shall draw upon the Initial Letter of Credit or Alternate Credit Facility in accordance with its terms in connection with a mandatory redemption under Section llA(5) not later than 10:00 A.M. (California time) on the Second Business Day prior to the date of redemption and shall make written request for withdrawal of moneys invested under the Investment Agreement in the Escrow Fund and Debt Service Reserve Account as provided in Section 3(a) of the Investment Agreement. There shall be set aside in the Redemption Account prior to mailing notice of optional or mandatory redemption (other than mandatory redemption pursuant to Section llA(5) hereof, moneys for the purpose of and sufficient to redeem, at a price equal to the principal of, premium, if any, and interest payable as provided in this Resolution, the Bonds designated in the notice of redemption, The moneys must be set aside in the Redemption Account solely for that purpose and shall be applied on or after the redemption date to the payment principal of, interest on and premium, if any, of the Bonds to be 1376k/228l/01 -3-