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8.A. - Page 31 will in turn distribute such payments to the beneficial owners of the Bonds. See Appendix F— "DTC and the Book-Entry Only System.° So long as the Bonds are registered in the name of Cede & Co., as nominee of DTC, references in this Official Statement to the owners shall mean Cede & Co., and shall not mean the purchasers or beneficial owners of the Bonds. Redemption No Optional Redemption. The Bonds are not subject to optional redemption prior to their stated matt�rities. Mandatory Redemption From Special Tax Prepayments. The Bonds are subject to mandatory redemption prior to their stated maturity on any Interest Payment Date, from the proceeds of Special Tax Prepayments and corresponding transfers of funds from the Reserve Fund (as described below under "SECURITY FOR THE BONDS—Reserve Fund"), as a whole or in part, in inverse order of maturity and by lot within a maturity, at a redemption price equal to 102%" of the principal amount of the Bonds to be redeemed, together with accrued interest thereon to the date fixed for redemption. There have been no Special Tax Prepayments since the District was formed in 2000; however, no assurance can be given that Special Tax Prepayments will not occur in the future. Purchase of Bonds In Lieu of Redemption. In lieu of redemption as described above, moneys in the Bond Fund may be used and withdrawn by the Fiscal Agent for purchase of Outstanding Bonds, upon the filing with the Fiscal Agent of an Officer's Certificate requesting such purchase prior to the selection of Bonds for redemption, at public or private sale as and when, and at such prices (including brokerage and other charges) as such Officer's Certificate may provide, but in no event may Bonds be purchased at a price in excess of the principal amount thereof, plus interest accrued to the date of purchase, plus the related premium otherwise payable at redemption. Notice of Redemption. The Fiscal Agent will cause notice of any redemption to be mailed by first class mail, postage prepaid, at least 30 days but not more than 60 days prior to the date fixed for redemption, to the Securities Depositories and to one or more Information Services, and to the respective registered Owners of any Bonds designated for redemption, at their addresses appearing on the Bond registration books in the Principal Office of the Fiscal Agent; but such mailing is not a condition precedent to redemption and failure to nlail or to receive any such notice, or any defect therein, will not affect the validity of the proceedings for the redemption of such Bonds. The redemption notice will state the redemption date and the redemption price and, if less than all of the then Outstanding Bonds are to be called for redemption, will designate the CUSIP numbers and Bond nunlbers of the Bonds to be redeemed by giving the individual CUSIP number and Bond number of each Bond to be redeemed or will state that all Bonds between two stated Bond numbers, both inclusive, are to be redeemed or that all of the Bonds of one or more maturities have been called for redemption, will state as to any Bond called in part the principal amount thereof to be redeemed, and will require that such Bonds be then st�rrendered at the Pruzcipal Office of the Fiscal Agent for redemption at the said redemption price, and will state that further interest on such Bonds will not accrue after the redemption date. Effect of Redemption. From and after the date fixed for redemption, if funds available for the payment of the principal of, and interest and any premium on, the Bonds so called for redemption have been deposited in the Bond Fund, such Bonds so called will cease to be entitled to any benefit under the Fiscal Agent Agreement other than the right to receive �� Preliminary, subject to change. -7-