4914-2908-9852.3
SIXTH SUPPLEMENTAL TRUST INDENTURE
by and between
CITY OF BAKERSFIELD
and
U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION,
as Trustee
relating to
$[PAR]
City of Bakersfield, California
Wastewater Revenue Refunding Bonds
Series 2025A
Dated as of [August] 1, 2025
TABLE OF CONTENTS
Page
4914-2908-9852.3
ARTICLE I
DEFINITIONS; INTERPRETATIONS
Section 1.01. Definitions........................................................................................................ 1 Section 1.02. Incorporation of Definitions Contained in the Master Indenture..................... 4 Section 1.03. Article and Section References ........................................................................ 4
ARTICLE II
THE SERIES 2025A BONDS
Section 2.01. Designation of the Series 2025A Bonds; Principal Amount ........................... 4 Section 2.02. Series 2025A Bonds Under the Master Indenture; Security; Parity ................ 4 Section 2.03. General Terms of the Series 2025A Bonds...................................................... 4 Section 2.04. Exchange of Series 2025A Bonds.................................................................... 5 Section 2.05. Book-Entry Bonds ........................................................................................... 6
ARTICLE III
NO REDEMPTION OF SERIES 2025A BONDS
Section 3.01. No Redemption of Series 2025A Bonds .......................................................... 8
ARTICLE IV
ESTABLISHMENT OF FUNDS AND APPLICATION THEREOF
Section 4.01. Establishment of Funds and Accounts ............................................................. 8 Section 4.02. Application of Series 2025A Bond Proceeds and Other Available Moneys ... 8 Section 4.03. Series 2025A Debt Service Fund ..................................................................... 9 Section 4.04. Series 2025A Costs of Issuance Fund .............................................................. 9 Section 4.05. Sources of Payment of Series 2025A Bonds ................................................. 10
ARTICLE V
TAX COVENANTS
Section 5.01. Series 2025A Rebate Fund............................................................................. 10 Section 5.02. Preservation of Tax Exemption ..................................................................... 10
ARTICLE VI
MISCELLANEOUS
Section 6.01. Notices ........................................................................................................... 11 Section 6.02. Compliance With Article 9 of the UCC ......................................................... 11 Section 6.03. Modification of Master Indenture and Sixth Supplemental Indenture .......... 12 Section 6.04. Continuing Disclosure ................................................................................... 12 Section 6.05. Parties Interested Herein ................................................................................ 12 Section 6.06. Severability .................................................................................................... 12 Section 6.07. Payments or Actions Occurring on Non-Business Days ............................... 12 Section 6.08. Governing Law .............................................................................................. 12 Section 6.09. Captions ......................................................................................................... 12 Section 6.10. Counterparts ................................................................................................... 13
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EXHIBIT A FORM OF SERIES 2025A BOND
EXHIBIT B DEBT SERVICE SCHEDULE
EXHIBIT C FORM OF SERIES 2025A COSTS OF ISSUANCE FUND REQUISITION EXHIBIT D REFUNDED SERIES 2015A BONDS
4914-2908-9852.3
SIXTH SUPPLEMENTAL TRUST INDENTURE
THIS SIXTH SUPPLEMENTAL TRUST INDENT URE (this “Sixth Supplemental Indenture”) dated as of [August] 1, 202 5 is made by and between the CITY OF BAKERSFIELD, CALIFORNIA , a charter city and municipal corporation organized and existing under the Constitution of the State of California (the “ City”), and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION (as successor in interest to U.S. Bank National Association), a national banking association, as trustee (the “ Trustee”), and supplements that certain Master Trust Indent ure, dated as of August 1, 2007 , which is also by and between the City and the Trustee (the “Master Indenture”).
WHEREAS, the Master Indenture provides, in Section s 2.09, 2.10 and 2.11 thereof, for the issuance of Refunding Bonds and, in Section 10.02 thereof, for the execution and delive ry of Supplemental Indentures setting forth the terms of such Refunding Bonds; and WHEREAS, the City now, for the purpose of current refunding and defeasing [all/a portion] of its outstanding City of Bakersfield, California Wastewater Revenue Refunding Bonds Series 2015A, by execution and delivery of this Sixth Supplemental Indenture and in compliance with the provisions of the Master Indenture , sets forth the terms of its $ [PAR] City of Bakersfield, California Wastewater Revenue Refunding Bonds, Series 202 5A (the “ Series 2025A Bonds”), provides for the deposit and use of the proceeds of the Series 2025A Bonds and makes other provisions relating to the Series 2025A Bonds; and WHEREAS, the Series 2025A Bonds are being i ssued as Refunding Bonds as provided for in Sections 2.10 and 2.11 of the Master Indenture.
GRANTING CLAUSE
In order to secure the payment of the Series 2025A Bonds, the City hereby pledges, assigns and grants to the Trustee with respect to the Series 2025A Bonds all of the liens, rights, interests and privileges set forth in the Granting Clause of, and elsew here in, the Master Indenture.
ARTICLE I
DEFINITIONS; INTERPRETATIONS
Section 1.01. Definitions. The following definitions shall apply to terms used in this Sixth Supplemental Indenture unless the context clearly requires otherwise:
“Authorized Denominations ” means $5,000 principal amount and integral multiples thereof.
“Bond Year” means a “Bond Year” as defined in the Tax Certificate. “Book-Entry Bonds” means the Series 2025A Bonds held by DTC (or its nominee) a s the registered owner thereof pursuant to the terms and provisions of Section 2.05 hereof.
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“Cede & Co.” means Cede & Co., the nominee of DTC, and any successor nominee of DTC with respect to the Series 2025A Bonds.
“Costs of Issuance” means all costs and expenses incurred by the City in connection with the issuance of the Series 2025A Bonds, including, but not limited to, as applicable, costs and expenses of printing and copying documents, the preliminary and final official statements, the Series 2025A Bonds, bond insurance premium (if any), reserve fund surety policy premium (if any), underwriter ’s compensation, and the fees, costs and expenses of rating agencies, the Trustee, counsel, accountants, financial /municipal advisors, feasibility consultants (if any), verification agents and other consultants.
“DTC” means The Depository Trust Company, a limited -purpose trust company organized under the laws of the State of New York, and its successors and assigns. “Escrow Agreement” means the Escrow Agreement, dat ed [August] [21], 2025, by and between the City and the Trustee, as trustee and escrow agent for the Refunded Series 2015A Bonds, and under which a portion of the proceeds of the Series 2025A Bonds, along with other available moneys from the Wastewater Tre atment Fund, are to be deposited and used to pay the principal of and interest on the Refunded Series 2015A Bonds. “Sixth Supplemental Indenture” means this Sixth Supplemental Trust Indenture, dated as of [August] 1, 2025, by and between the City and the Trustee and which sets forth the terms of the Series 2025A Bonds.
“Holder” or “ Bondholder” means the registered owner of any Series 2025A Bond including DTC or its nominee as the sole registered owner of Book-Entry Bonds. “Interest Payment Date ” means each March 15 and September 15, commencing [March 15], 20 26, the dates upon which interest on the Series 2025A Bonds become due and payable.
“Master Indenture” means the Master Trust Indent ure, dated as of August 1, 20 07, by and between the City and the Trustee , under which the Series 2025A Bonds are authorized and secured.
“Participants” means the participants of DTC which include securities brokers and dealers, banks, trust companies, clearing corporations and certain other organizations. “Paying Agent” means, for purposes of this Sixth Supplemental Indenture, the Trustee, or any other institution appointed by the City.
“Permitted Investments” means, with respect to this Sixth Supplemental Indenture, those investments designated as Permitted Investments under the Master Indenture. “Person” means a corporation, association, partnership, limited liability company, joi nt venture, trust, organization, business, individual or government or any government agency or political subdivision thereof.
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“Record Date” means fo r a March 15 Interest Payment Date the preceding March 1 and for a September 15 Interest Payment Date the preceding September 1. “Refunded Series 20 15A Bonds” means the Series 2015A Bonds being current refunded and defeased with a portion of the proceeds o f the Series 2025A Bonds, as set forth in Exhibit C attached hereto.
“Registrar” for purposes of this Sixth Supplemental Indenture, means the Trustee. “Registered Owner” means a Person in whose name a Series 2025A Bond is registered in the registration books of the Registrar.
“Representation Letter ” means the Blanket Issuer Letter of Representations dated July 28, 1998 from the City to DTC.
“Series 20 15A Bonds” means $ 145,500,000 aggregate principal amount of the City of Bakersfield, California Wastewater Revenue Refunding Bonds Series 2015A, [all/a portion] of the outstanding principal amount of which is being current refunded and defeased with the Series 2025A Bonds.
“Series 2025A Bonds” means the $ [PAR] aggregate principal amount of Bonds issued under the Master Indenture and this Sixth Supplemental Indenture and designated “ City of Bakersfield, California Wastewater Revenue Refunding Bonds, Series 2025A.” “Series 2025A Costs of Issuance Fund ” means the Costs of Issuance Fund of such designation created in Section 4.0 4 of this Sixth Supplemental Indenture and into which money is to be deposited to pay Costs of Issuance of the Series 2025A Bonds. “Series 2025A Debt Service Fund ” means the Debt Service Fund of such des ignation created in Section 4.0 3 of t his Sixth Supplemental Indenture and into which money is to be deposited to pay debt service on the Series 2025A Bonds. “Series 2015A Escrow Fund” means the “City of Bakersfield, California Wastewater Revenue Refunding Bonds Series 2015A Escrow Fund” estab lished and maintained by the Trustee, as trustee and escrow agent for the Refunded Series 2015A Bonds , under the terms of the Escrow Agreement and held for the purpose of paying the principal of and interest on the Refunded Series 2015A Bonds.
“Series 2025A Rebate Fund” means the fund of such designation created in Section 4.01 of this Sixth Supplemental Indenture.
“Tax Certificate” means that Tax Compliance Certificate dated the date of issuance of the Series 2025A Bonds, as amended from time to time, ente red into by the City and executed with respect to the Series 2025A Bonds.
“Underwriter” means BofA Securities, Inc., as the initial purchaser of the Bonds.
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Section 1.02. Incorporation of Definitions Contained in the Master Indenture .
Except as otherwise provided in S ection 1.01 of this Sixth Supplemental Indenture , all words, terms and phrases defined in the Master Indenture shall have the same meanings herein as in the Master Indenture.
Section 1.03. Article and Section References . Except as otherwise indicated, references to Art icles and Sections are to Articles and Sections of this Sixth Supplemental Indenture.
ARTICLE II
THE SERIES 2025A BONDS
Section 2.01. Designation of the Series 2025A Bonds; Principal Amount . The Series 2025A Bonds authorized to be issued under the Master Indenture and this Sixth Supplemental Indenture shall be designated as “City of Bakersfield, California Wastewater Revenue Refunding Bonds, Series 2025A,” which shall be issued in the original principal amount of $[PAR].
Section 2.02. Series 2025A Bonds Under the Master Indenture ; Security; P arity.
The Series 2025A Bonds are issued as Refunding Bonds under and subject to the terms of the Master Indenture and are secured by and payable from the Net Revenues and other security provided in the Granting Clause of the Master Indenture and in accordance with the terms of the Master Indenture. The payment of the principal of and interest on the Series 2025A Bonds are on a parity with the Series 2020A Bonds [and the Series 2015A Bonds that are not refunded with the proceeds of the Series 2025A Bonds – to be updated accordingly after pricing].
Section 2.03. General Terms of the Series 2025A Bonds. The Series 2025A Bonds shall, upon initial issuance, be dated [August] [21], 2025. Each Series 2025A Bond shall bear interest from the Interest Payment Date next prece ding the date of authentication thereof unless such date of authentication is an Interest Payment Date, in which event such Series 2025A Bond shall bear interest from such date of authentication, or unless such date of authentication is after a Record Date and before the next succeeding Interest Payment Date, in which event such Series 2025A Bond shall bear interest from such succeeding Interest Payment Date, or unless such date of authentication is prior to September 1, 2025 in which event such Series 2025A Bond shall bear interest from [August] [21], 2025. If interest on the Series 2025A Bonds shall be in default, Series 2025A Bonds issued in exchange for Series 2025A Bonds surrendered for transfer or exchange shall bear interest from the Interest Payment Date to which interest has been paid in full on the Series 2025A Bonds surrendered. The Series 2025A Bonds shall be issued in denominations of $5,000 original principal amount or integral multiples thereof.
Interest on the Series 2025A Bonds shall be pai d on [March 15, 2026] and semiannually thereafter on [September 15 and March 15]. Principal of the Series 2025A Bonds shall be paid annually on September 15 of each year beginning on September 15, 202[6].
Interest on the Series 2025A Bonds shall be calculated on the basis of a year of 360 days and twelve 30-day months.
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At least fifteen (15) Business Days prior to each date on which principal or interest on any Series 2025A Bond shall be due and payable, the Trustee shall notify the City of such payment, the date such payment is due and the amount of such payment and the Series of Bonds to which such payment relates. Such notice shall be given by telephone or facsimile transmission and promptly confirmed in writing.
The Series 2025A Bonds shall be issued in the original principal amount of $[PAR] and shall mature in the years and in the amounts and bear interest at the ann ual rates set forth in the following schedule:
September 15
of the Year Principal Amount Interest Rate
2026 $ %
2027
2028
2029
2030
2031
Payment of principal of the Series 2025A Bonds shall be made upon surrender of the Series 2025A Bonds to the Trustee or its agent; provided that with respect to Series 2025A Bonds which are Book -Entry Bonds, the Trustee may make other arr angements for payment of principal as provided in the Representation Letter. Payment of interest on Series 2025A Bonds which are not Book -Entry Bonds shall be made by check or draft of the Trustee mailed on the applicable Interest Payment Date by first-class mail to the person who is the registered Owner thereof on the Record Date, and such payment shall be mailed to such Owner at his address as it appears on the registration books of the Registrar. The payment of interest on Book-Entry Bonds shall be mad e as provided in Section 2.05 hereof. With respect to all Series 2025A Bonds, interest due and payable on any Interest Payment Date shall be paid to the person who is the registered owner as of the Record Date. The Series 2025A Bonds shall be substantial ly in the form of Exhibit A, which is part of this Sixth Supplemental Indenture.
If the principal of a Series 2025A Bond becomes due and payable, but shall not have been paid as a result of a default hereunder, and no provision is made for its payment, the n such Series 2025A Bond shall bear interest at the same rate after such default as on the day before the default occurred. Principal and interest will be paid in lawful money of the United States that at the time of payment is legal tender for payment of public and private debts or by checks or wire transfer payable in such money.
Section 2.04. Exchange of Series 2025A Bonds. Series 2025A Bonds which are delivered to the Registrar for exchange may be exchanged for an equal total principal amount of the same Series of such Series 2025A Bonds with the same interest rate and maturity date. The cost of printing Series 2025A Bonds and any services rendered or expenses incurred by the Trustee or the Registrar in connection with any transfer or exchange shall be paid by the City.
The Trustee or the Registrar may require the payment by the Bondholders requesting such
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transfer or exchange of any tax or other governmental charge required to be paid with respect to such transfer.
Section 2.05. Book-Entry Bonds.
(a) Except as provided in subparagraph (c) of this Section 2.05, the Registered Owner of all of the Series 2025A Bonds shall be DTC and the Series 2025A Bonds shall be registered in the name of Cede & Co., as nominee for DTC. Payment of principal of or interest on any Series 2025A Bond registered in the name of Cede & Co. shall be made by wire transfer of New York clearing house or equivalent next day funds or by wire transfer of same day funds to the account of Cede & Co. at the address indicated on the Record Date or special record date f or Cede & Co. in the registration books of the Registrar.
(b) The Series 2025A Bonds shall be initially issued in the form of separate single authenticated fully registered Series 2025A Bonds for each separate stated maturity of the Series 2025A Bonds. Upon i nitial issuance, the ownership of such Series 2025A Bonds shall be registered in the registration books of the Registrar in the name of Cede & Co., as nominee of DTC. The Trustee, the Registrar and the City may treat DTC (or its nominee) as the sole and e xclusive owner of the Series 2025A Bonds registered in its name for the purposes of payment of the principal of or interest on the Series 2025A Bonds, giving any notice permitted or required to be given to Bondholders under the Master Indenture or this Sixth Supplemental Indenture, registering the transfer of Series 2025A Bonds, obtaining any consent or other action to be taken by Bondholders and for all other purposes whatsoever, and none of the Trustee, the Registrar or the City shall be affected by any n otice to the contrary. N one of the Trustee, the Registrar or the City shall have any responsibility or obligation to any Participant, any person claiming a beneficial ownership interest in the Series 2025A Bonds under or through DTC or any Participant, or any other person which is not shown on the registration books as being a Bondholder, with respect to the accuracy of any records maintained by DTC or any Participant; the payment by DTC or any Participant of any amount in respect of the principal of or in terest on the Series 2025A Bonds; any notice which is permitted or required to be given to Bondholders under the Master Indenture and this Sixth Supplemental Indenture; any consent given or other action taken by DTC as Bondholder; or any other purpose. Th e Trustee shall pay all principal of and interest on the Series 2025A Bonds to DTC, and all such payments shall be valid and effective to fully satisfy and discharge the City’s obligations with respect to the principal of and interest on the Series 2025A Bonds to the extent of the sum or sums so paid. No person other than DTC shall receive an authenticated Series 2025A Bond evidencing the obligation of the City to make payments of principal and interest pursuant to the Master Indenture and this Sixth Supplemental Indenture. Upon delivery by DTC to the Trustee of written notice to the effect that DTC has determined to substitute a new nominee in place of Cede & Co., and subject to the provisions herein with respect to Record Dates, the word s “Cede & Co.” in this Sixth Supplemental Indenture shall refer to such new nominee of DTC. (c) In the event the City determines that it is in the best interest of the beneficial owne rs that they be able to obtain b ond certificates, and notifies DTC, the
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Trustee and the Registrar of such determination, then DTC will notify the Participants of the availability through DTC of b ond certificates. In such event, the Trustee shall authenticate and the Registr ar shall transfer and exchange b ond certificates as requested by DTC and an y other Bondholders in appropriate amounts. DTC may determine to discontinue providing its services with respect to the Series 2025A Bonds at any time by giving notice to the City and the Trustee and discharging its responsibilities with respect thereto u nder applicable law. Under such circumstances (if there is no successor securities depository), the City and the Trustee shall be obligated to deliver b ond certificates as described in this Sixth Supplemental Indenture . In the event b ond certificates are issued, the provisions of the Master Indenture and this Sixth Supplemental Indenture shall apply to, among other things, the transfer and exchange of such certificates and the method of payment of principal of and interest on such certificates.
Whenever DTC requests the City and the Trustee to do so, the Trustee and the City will cooperate with DTC in taking appropriate action after reasonable notice (i) to make available one or more separate certificates evidencing the Series 2025A Bonds to any DTC Parti cipant having Series 2025A Bonds credited to its DTC account or (ii) to arrange for another securities depository to maintain custody of certificates evidencing the Series 2025A Bonds.
(d) Notwithstanding any other provision of the Master Indenture and this Sixth Supplemental Indenture to the contrary, so long as any Series 2025A Bond is registered in the name of Cede & Co., as nominee of DTC, all payments with respect to the principal of and interest on such Series 2025A Bond and all notices with respect to such Series 2025A Bond shall be made and given, respectively, to DTC as provided in the Representation Letter.
(e) In connection with any notice or other communication to be provided to Bondholders pursuant to the Master Indenture and this Sixth Supplemental Indenture by the City or the Trustee with respect to any consent or other action to be taken by Bondholders, the City or the Trustee, as the case may be, shall establish a record date for such consent or other action and give DTC notice of such record date no t less than fifteen (15) calendar days in advance of such record date to the extent possible. Notice to DTC shall be given only when DTC is the sole Bondholder.
(f) NEITHER THE CITY NOR THE TRUSTEE WILL HAVE ANY
RESPONSIBILITY OR OBLIGATION TO PARTICIPANTS OR BENEFICIAL OWNERS WITH RESPECT TO: THE PAYMENT BY DTC OR ANY PARTICIPANT OF THE PRINCIPAL OF OR INTEREST ON THE SERIES 2025A BONDS; THE PROVIDING OF NOTICE TO PARTICIPANTS OR BENEFICIAL OWNERS; THE ACCURACY OF ANY RECORDS MAINTAINED BY DTC, ANY PARTICIPAN T;
OR ANY CONSENT GIVEN OR OTHER ACTION TAKEN BY DTC AS OWNER OF THE SERIES 2025A BONDS.
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ARTICLE III
NO REDEMPTION OF SERIES 2025A BONDS
Section 3.01. No Redemption of Series 2025A Bonds . The Series 2025A Bonds are not subject to redemption prior to maturity.
ARTICLE IV
ESTABLISHMENT OF FUNDS AND APPLICATION THEREOF
Section 4.01. Establishment of Funds and Accounts . The following funds and accounts are hereby established with the Trustee:
(a) City of Bakersfield, California Wastewater Revenue Refunding Bonds, Series 2025A Debt Service Fund (the “ Series 2025A Debt Service Fund ”) and therein an Interest Account and a Principal Account;
(b) City of Bakersfield, California Wastewater Revenue Refunding Bonds, Series 2025A Costs of Issuance Fund (the “Series 2025A Costs of Issuance Fund”); and (c) City of Bakersfield, California Wastewater Revenue Refunding Bonds, Series 2025A Rebate Fund (the “ Series 2025A Rebate Fund”) and therein an Earnings Account.
Section 4.02. Application of Series 2025A Bond Proceeds and Other Available Moneys.
(a) The proceeds of the sale of the Series 2025A Bonds, being the amount of $[∙] (which sum represents the par amount of the Series 2025A Bonds, plus an original issue premium in the amount of $[∙], less an underwriter’s discount in the amount of $[∙]), received by the City shall be deposited or paid by the Finance Director as follows:
(i) the sum of $ [∙] shall be transferred to the Escrow Agent, for deposit by the Escrow Agent in the Series 2015A Escrow Fund, to be used to refund and defease the Refunded Series 2015A Bonds;
(b) The Trustee shall deposit the sum of $ [∙] into the Series 2025A Costs of Issuance Fund; and
(c) The Finance Director shall transfer $[10,260,000] of legally available funds from the Wastewater Treatment Fund to the Escrow Agent, to be deposited to the Series 2015A Escrow Fund , for the purpose of defeasing and current refunding the Refunded Series 2015A Bonds.
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Section 4.03. Series 2025A Debt Service Fund . The Trustee shall make deposits into the Series 2025A Debt Service Fund as follows:
(a) Interest Account . The Trustee shall deposit into the Interest Account (i) the amounts received from the City pursuant to Section 4.03 of the Master Indenture to be used to pay interest on the Series 2025A Bonds and, if the City enters into an interest rate swap agreement with respect to all or a portion of the Series 2025A Bonds, to pay amounts due and payable to the provider of such agreement at such times as are provided in such interest rate swap agreement and ( ii) if the City enters into an interest rate swap agreement with respect to all or a portion of the Series 2025A Bonds, any amounts received by the City from the provider of such agreement. The Trustee shall also deposit into the Interest Account any other amounts deposited with the Trustee for deposit in the Interest Account or transf erred from other funds and accounts for deposit therein. All amounts held at any time in the Interest Account shall be held on a priority basis for the ratable security and payment of interest due on the Series 2025A Bonds in accordance with their terms and amounts due and payable by the City under any interest rate swap agreement entered into by the City with respect to all or a portion of the Series 2025A Bonds (other than any swap termination payments and any other amounts payable thereunder which are p ayable and secured by a lien on Net Revenues ranking junio r and subordinate to the lien of the Bonds) at any time in proportion to the amounts due or accrued with respect to each of them. Earnings on the Interest Account shall be retained in such account.
(b) Principal Account. The Trustee shall deposit into the Pr incipal Account amounts received fro m the City pursuant to Section 4.03 of the Master Indenture to be used to pay principal of the Series 2025A Bonds at maturity. The Trustee shall also deposit int o the Principal Account any other amounts deposited with t he Trustee for deposit into the Principal Account or transferred from other funds and accounts for deposit therein. On or about July 15 of each Fiscal Year, earnings on the Principal Account shall be withdrawn by the Trustee and paid to the City for depos it into the Wastewater Treatment Fund unless an Event of Default exists under the Master Indenture, in which event the earnings shall be retained in such account. (c) Reserved.
The Series 2025A Debt Service Fund shall be invested and reinvested as directed by the City in Permitted Investments.
Section 4.04. Series 2025A Costs of Issuance Fund.
(a) There shall be deposited into the Series 2025A Costs of Issuance Fund the amounts as provided in Section 4.02(a)(ii) above.
(b) The Trustee shall make payments or disbursements from the Se ries 2025A Costs of Issuance Fund upon receipt from the City of a written requisition in substantially the form attached hereto as Exhibit C, executed by the Finance Director to the City , which requisition shall state, with respect to each amount requested thereby, (i) that such
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amount is to be paid from the Series 2025 A Costs of Issuance Fund, (ii) the number of the requisition, (iii) the amount to be paid, the name of the entity, if other than the City, to which the payment is to be made and the manner in which the payment is to be made, and (iv) describe the Costs of Issuance represented by such payment. Each such requisition shall be sufficient evidence to the Trustee of the facts stated therein and the Trustee shall have no duty to confirm the accuracy of the facts stated therein (c) Moneys held in the Series 2025A Costs of Issuance Fund shall be invested and reinvested in Permitted Investments.
(d) Earnings on the Series 2025A Costs of Issuance Fund shall be deposited into the Interest Account of the Series 2025A Debt Service Fund . Any amoun ts remaining in the Series 2025A Costs of Issuance Fund on [March 31 ], 20 26 shall be transferred to the Interest Account of the Series 2025A Debt Service Fund and the Series 2025A Costs of Issuance Fund shall be closed.
Section 4.05. Sources of Payment of Series 2025A Bonds. The Series 2025A Bonds shall be secured by and payable from the Net Revenues as provided in the Master Indenture. The City may, but is not obligated to, provide for payment of principal and interest on the Series 2025A Bonds from any other source or from any other funds of the City.
ARTICLE V
TAX COVENANTS
Section 5.01. Series 2025A Rebate Fund. The City hereby agrees that it will enter into the Tax Certificate and will, pursuan t to this Sixth Supplemental Indenture , create the Series 2025A Rebate Fund , which fund will be funded if so required under the Tax Certificate and amounts in such Series 2025A Rebate Fund shall be held and disbursed in accordance with the Tax Certificate.
Section 5.02. Preservation of Tax Exemption.
(a) The City shall comply with those covenants and agreements set forth in the Tax Certificate.
(b) The City shall not use or permit the use of any proceeds of the Series 2025A Bonds or any other funds of the City held by the Truste e under this Sixth Supplemental Indenture, allocable to th e Series 2025A Bonds, directly or indirectly, to acquire any securities or obligations, and shall not use or permit the use of any amounts received by the City or the Trustee with respect to the Series 2025A Bonds in any manner, and shall not take or permi t to be taken any other action or actions, which would cause any Series 2025A Bond to be “federally guaranteed” within the meaning of Section 149(b) of the Code or an “arbitrage bond” within the mea ning of Section 148 of the Code and applicable regulations promulgated from time to time thereunder and under Section 103(c) of the Code. The City shall observe and not violate the requirements of Section 148 of the Code and any such applicable regulations. In the event the City is of the opinion that it is nec essary to restrict or limit the yield on the investment of money
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held by the Trustee or to use such money in certain manners, in order to avoid the Series 2025A Bonds from being considered “arbitrag e bonds” within the meaning of Section 148 of the Code and the regulations thereunder as such may be applicable to the Series 2025A Bonds at such time, the City shall issue to the Trustee a certificate to such effect together with appropriate instructions, in which event the Trustee shall take such action as it i s directed to take to use such money in accordance with such certificate and instructions, irrespective of whether the Trustee shares such opinion. (c) The City shall at all times do and perform all act s and things permitted by law and this Sixth Supplemental Indenture which are necessary or desirable in order to assure that interest paid on the Series 2025A Bonds will not be included in gross income for federal income tax purposes and shall take no action that would result in such interest being included in gross income for federal income tax purposes.
ARTICLE VI
MISCELLANEOUS
Section 6.01. Notices.
(a) Any notice, request, direction, designation, consent, acknowledgment, certification, appointment, waiver or other communication r equired or permitted by this Sixth Supplemental Indenture or the Series 2025A Bonds must be in writing except as expressly provided otherwise in this Sixth Supplemental Indenture or the Series 2025A Bonds.
(b) Any notice or other communication, unless otherwise specified, shall be sufficiently given and deemed given when mailed by first-class mail, postage prepaid, addressed to the City or the Trustee at the addresses provided in the Master Indenture or when delivered by hand and received by the City or the Trustee at the addresses provided in the Master Indenture. A ny addressee may designate additional or different addresses for purposes of this Section.
Section 6.02. Compliance With Article 9 of the UCC . The security interests granted to the Bondholders of the Series 2025A Bonds under the Master Indenture and this Sixth Supplemental Indenture are not, as of the date of the original issuance of the Series 2025A Bonds, subject to the provisions of Article 9 of the Uniform Commercial Code (as such Article has been a dopted by the State of California ). In the event, subsequent to the date of original issuance of the Series 2025A Bonds, the security interests granted to the Bondholders of the Series 2025A Bonds under the Master Indenture and this Sixth Supplemental Indenture become subject to the provisions of Article 9 of the Uniform Commercial Code (as such Article may be adopted by the State of California), (a ) the City shall take all necessary steps to preserve the continuing security interest granted to the Bondholders of th e Series 2025A Bonds (including, if applicable, the filing of all necessary financing statements); and (b ) an opinion of Bond Counsel will be delivered to the City and the Trustee, to the effect that the Series 2025A Bonds’ first lien on the Net Revenues is perfected and all financing statements necessary to evid ence such first lien have been filed.
12 4914-2908-9852.3
Section 6.03. Modification of Master Indenture and Sixth Supplemental Indenture.
The City may, from time to time and at any time, execute and d eliver Supplemental Indentures supplementing and/or amending the Master Indenture and this Sixth Supplemental Indenture in the manner set forth in Article X of the Master Indenture.
Section 6.04. Continuing Disclosure. The City hereby covenants to annually provide certain financial information and operating data of the City with respect to the Enterpris e and to provide notices of certain enumerated events, pursuant to Rule 15c2 -12(b)(5) of the Securities and Exchange Commission, and to execute and deliver a Continuing Disclosure Certificate for the benefit of the holders and the Beneficial Owners of the Series 2025A Bonds in a form acceptable to the Underwriter of the Series 2025A Bonds. Notwithstanding any other provision of this Sixth Supplemental Indenture , failure of the City to comply with the Continuing Disclosure Certificate shall not constitute an Event of Default hereunder; provided, however, that the Underwriter or any Beneficial Owner of the Series 2025A Bonds may take such actions as may be necessary and appropriate to compel performance by the City of its obligations under this Section 6.04, including seeking mandate or specific performance by court order.
Section 6.05. Parties Interested Herein. Nothing in this Sixth Supplemental Indenture expressed or implied is intended or shall be construed to confer upon, or to give or grant to, any person or entity, other than the City, the Trustee and the Registered Owners of the Series 2025A Bonds, any right, remedy or claim under or by reason of this Sixth Supplemental Indenture or any covenant, condition or stipulation hereof, and all covenants, stipulations, prom ises and agreements in this Sixth Supplemental Indenture contained by and on behalf of the City shall be for the sole and exclusive benefit of the City, the Trustee and the Registered O wners of the Series 2025A Bonds.
Section 6.06. Severability. If any provision of this Sixth Supplemental Indenture shall be determined to be unenforceable, that shall not affect any other provision of this Sixth Supplemental Indenture.
Section 6.07. Payments or Actions Occurring on Non -Business Days. If a payment date is not a Business Day at the place of payment or if any action required hereunder is required on a date that is not a Business Day, then payment may be made at that place on the next Business Day or such action may be taken on the next Business Day with the same effect as if payment were made on the action taken on the stated date, and no interest shall accrue for the intervening period.
Section 6.08. Governing Law. This Sixth Supplemental Indenture shall be governed by and construed in accordance with the laws of the State of California.
Section 6.09. Captions. The captions in this Sixth Supplemental Indenture are for convenience only and do not define or limit the scope or intent of any provisions or Sections of this Sixth Supplemental Indenture.
13 4914-2908-9852.3
Section 6.10. Counterparts. This Sixth Supplemental Indenture may be signed in several counterparts. Each will be an original, but all of them together constitute the same instrument.
[End of Sixth Supplemental Trust Indenture]
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4914-2908-9852.3
IN WITNESS WHEREOF, the parties hereto have cau sed this Sixth Supplemental Indenture to be duly executed, all as of the date first above written.
CITY OF BAKERSFIELD, CALIFORNIA
By:
Karen Goh, Mayor
APPROVED AS TO FORM:
By:
Virginia Gennaro, City Attorney
APPROVED AS TO CONTENT AND
COUNTERSIGNED:
By:
Randy McKeegan, Finance Director
U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION,
as Trustee
By
Authorized Officer
[Signature page to Sixth Supplemental Trust Indenture]
4914-2908-9852.3
EXHIBIT A
FORM OF SERIES 2025A BOND
UNITED STATES OF AMERICA
No. R-___ $_______________
CITY OF BAKERSFIELD, CALIFORNIA
WASTEWATER REVENUE REFUNDING BOND, SERIES 2025A
UNLESS THIS BOND IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
DTC (AS DEFINED IN THE HEREINAFTER DEFINED SIXTH SUPPLEMENTAL
INDENTURE) TO THE TRUSTEE (AS HEREINAFTER DEFINED) FOR REGISTRATION OF, TRANSFER, EXCHANGE, OR PAYMENT, AND ANY SERIES 2025A BOND ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER
USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO. , HAS AN INTEREST HEREIN.
Interest Rate Maturity Date Original Issue Date CUSIP
___% September 15, 20__ [August] [21], 2025 05753P ___
REGISTERED HOLDER: **CEDE & CO.**
PRINCIPAL AMOUNT: **___________________________ DOLLARS**
THIS BOND IS A SPECIAL , LIMITED OBLIGATION OF THE CITY, PAYABLE
SOLELY FROM AND SECURED BY A PLEDGE OF NET REVENUES (AS HEREINAFTER
DEFINED) DERIVED BY THE CITY FROM THE OPERATIONS OF THE ENTERPRISE (AS DEFINED IN THE HEREINAFTER DEFINED MASTER INDENTURE) AND CERTAIN FUNDS AND ACCOUNTS HELD UNDER THE MASTER INDENTURE . NONE OF THE
PROPERTIES OF THE ENTERPRISE ARE SUBJECT TO ANY MORTGAGE OR OTHER
LIEN FOR THE BENEFIT OF THE OWNERS OF THIS BOND , AND NEITHER THE FULL
FAITH AND CREDIT NOR THE TAXING POWER OF THE CITY, KERN COUNTY, THE
STATE OF CALIFORNIA OR ANY POLITICAL SUBDIVISION OR AGENCY OF THE
STATE IS PLEDGED TO THE PAYMENT OF THE PRINCIPAL OF, PRE MIUM, IF ANY, OR INTEREST ON THIS BOND.
PROVISIONS OF THE SIXTH SUPPLEMENTAL I NDENTURE WILL CONTROL TO THE EXTENT INCONSISTENT WITH THE PROVISIONS OF THIS BOND.
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4914-2908-9852.3
The City of Bakersfield, California (the “City”), acting pursuant to the Constitution of the State of California, S ection 33.3 of the City Charter, the City of Bakersfield Enterprise Revenue Bond Law (the “ Bond Law ”) and certain provisions of the laws of the State of California (including Section 53580 et seq. of the California Government Code) (the “Refunding Law”) and with exclusive management and control of the Enterprise, promises to pay, from the Net Revenues, as hereinafter defined in this Bond, to the registered holder above , or registered assigns, the principal sum of [_________________] Dollars on the Maturity Date set forth above and to pay interest as provided in this Bond.
Additional provisions of this Bond are set forth on the following pages of this Bond.
All acts, conditions and other matters required to exist, to happen and to be performed, precedent to and in the issuance of this Bond, do exist, have happened and have been performed in due time, form and manner as required by law, the Bond Law and the Refunding Law.
Date of Authentication: [August] [21], 2025
U.S. BANK TRUST COMPANY ,
NATIONAL ASSOCIATION ., as Trustee
certifies that this is one of the Bonds referred
to in the Master Indenture and Sixth
Supplemental Indenture
By
Authorized Signatory
CITY OF BAKERSFIELD, CALIFORNIA
By
Mayor
Attest:
By:
Clerk of the City
1. Master Indenture; Sixth Supplemental Indenture. The City has entered into a Master Trust Indenture, dated as of August 1, 2007 (the “Master Indenture”), with U.S. Bank Trust Company, National Ass ociation (as successor to U.S. Bank National Association), as trustee (the “Trustee”). Such Master Indenture provides that the City may issue bonds and incur other indebtedness under the terms and conditions set forth in the Master Indenture and Supplemental Indentures. All bonds and other indebtedness issued thereunder and secured thereby are collectively referred to herein as “ Bonds.” All capitalized terms not defined herein shall have the meanings set forth in the Master Indenture and the hereinafter defined Sixth Supplemental Indenture.
This Bond is part of a series of Bonds of the City issued under the Master Indenture and the Sixth Supplemental Trust Indenture, dated as of [August] 1, 2025 (the “Sixth Supplemental Indenture”), by and between the City and the Trustee a nd authorized by Resolu tion No. [___-
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4914-2908-9852.3
2025] adopted by the City Council of the City on [July 23, 2025]. The series of Bonds of which this Bond is a part is being issued in the original principal amount of $[PAR] and is designated as City of Bakersfield, California Wastewater Revenue Refunding Bonds, Series 2025A (the “Series 2025A Bonds”). [The City has previously issued the City of Bakersfield, California Wastewater Revenue Refun ding Bonds , Series 20 15A in the original principal amount of $145,500,000 (the “ Series 20 15A Bonds”). The City has previously issued the City of Bakersfield, California Wastewater Revenue Refunding Bonds, Series 2020A, in the aggregate principal amount of $10,525,000, a portion of which was used to currently ref und and defease a portion of the Series 2015A Bonds outstanding at such time. The 2025A Bonds are being issued to refund and defease all of the remaining outstanding Series 2015A Bonds. After the issuance of the 2025A Bonds, the Series 2015A Bonds will b e fully defeased and no longer be outstanding.]
The Master Indenture also provides for the incurrence of additional debt, including the issuance of additional Bonds, to be secured under the Master Indenture equally and ratably with the Series 2020A Bonds and the Series 2025A Bonds.
This Bond is being issued with a pledge of and lien on Net Revenues on a parity with any additional Bonds issued on a parity with the [Series 2025A Bonds, the Series 2020A Bonds [and the Series 2015A Bonds (that remain outstanding after the issuance of the Series 2025A Bonds)], under the terms and provisions of the Master Indenture.
The terms of the Series 2025A Bonds include the terms set forth in the Master Indenture and the Sixth Supplemental Indenture . Bondholders are refer red to the Master Indenture , as amended and supplemented from time to time, and the Sixth Supplemental Indenture , as amended and supplemented from time to time, for a statement of those terms and fo r the meanings of any defined terms not defined herein.
2. Source of Payments . The Series 2025A Bonds are, as provided in the Master Indenture and the Sixth Supplemental Indenture , together with all other Bonds, secured by and payable from, the Net Revenues, as described below and as defined in the Master Indenture. The Master Indenture pledges the Net Revenues to secure payment of all Bonds issued under the Master Indenture.
The term “Net Revenues” is defined in the Master Indenture to mean, for any Fiscal Year, the Revenues for such Fiscal Year, less the Operation and Maintenance Costs for such Fiscal Year.
Net Revenues also include s such additional sources of revenue, if any, subsequently pledged by the City to pay the Bonds. The City is not required to provide for the payment of the Bonds from any other source.
3. Interest Rate. This Bond shall bear interest until the Maturity Date at the rate shown on the first page of this Bond. Interest on overdue principal and, to the extent lawful, on overdue interest will be payable at the rate on this Bond on the day before the default occurred.
Interest on this Bond shall be calculated on the basis of a year of 360 days and twelve 30-day months.
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4914-2908-9852.3
4. Interest Payment and Record Dates. Interest hereon will be due and payable on [March] 15, 20 26 and each [March] 15 and [September] 15 thereafter and will be paid to the party who is the owner hereof on the Record Date for such payment. The Record Date for a March 15 payment is the preceding March 1, and the Record Date for a September 15 payment is the preceding September 1. If this Bond is not a Book -Entry Bond, as defined in the Sixth Supplemental Indenture, interest hereon will be paid by check mailed to the holder’s registered address, and, if this Bond is a Book -Entry Bond, as defined in the Sixth Supplemental Indenture, interest will be paid as provided in Section 2.0 3 of the Sixth Supplemental Indenture . Interest will be paid in lawful money of the United States that at the time of payment is legal tender fo r payment of public and private debts or by checks or wire transfer payable in such money.
5. Payment of Principal. Payment of principal of Series 2025A Bonds will be paid at maturity upon surrender of such Bonds to the Trustee or its agent except that with respect to Series 2025A Bonds which are Book -Entry Bonds, the Trustee may make other agreements for payment of principal. Principal will be paid in lawful money of the United States that at the time of payment is legal tender for payment of public and private debts or by checks or wire transfer payable in suc h money. If any payment on the Series 2025A Bonds is due on a non -Business Day, it will be made on the next Business Day, and no interest will accrue as a result.
6. No Redemption of Series 2025A Bonds . The Series 2025A Bonds are not subject to redemption prior to maturity.
7. Denominations; Transfer; Exchange. The Series 2025A Bonds are available in denominations of $5,000 of original principal amount and integral multiples thereof. A holder may transfer or exchange Series 2025A Bonds in accordance wit h the Master Indenture and the Sixth Supplemental Indenture. The Trustee may require a holder, among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes and fees required by law or permitted by the Master Indenture.
8. Persons Deemed Owners. The registered owner of this Bond shall be treated as the owner of it for all purposes.
9. Unclaimed Money . If money for the payment of principal or interest remains unclaimed for two years, the Trustee will pay the money to or for the account of the City. After that, holders entitled to the money must look only to the City and not to the Trustee for payment.
10. Discharge Before Maturity. If the City at any time deposits with the Trustee money, Government Obligations or obligations described in item (b ) of the definition of Permitted Investments as described in the Master Indenture sufficient to pay at maturity principal of and interest on the outstanding Series 2025A Bonds, and if the City also pays all other sums then payable by the City under the Master Indenture, the Master Indenture will be discharged.
After discharge, Bondholders must look only to the deposited money and securities for payment.
If the City at any time deposits with the Trustee money , Government Obligations or obligations described in item (b ) of the definition of Permitted Investments as described in the Master Indenture sufficient to pay at maturity, principal of and interest on all or any port ion of the outstanding Series 2025A Bonds, such Series 2025A Bonds, with respect to which the deposit
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4914-2908-9852.3
was made, shall no longer be deemed to be outstanding and shall no longer be secured by the Master Indenture except to the extent of the funds set aside therefor.
11. Amendment, Supplement, Waiver . The Master In denture, the Sixth Supplemental Indenture and the Series 2025A Bonds may be amended or supplemented, and any past default or compliance with any provision may be waived, as provided in the Master Indenture. Any consent given by the owner of this Bond shall bind any subsequent owner of this Bond or any Bond delivered in substitution for this Bond.
12. Defaults and Remedies . The Master Indenture provides that the occurrences of certain events constitute Events of Default. If an Event of Default occurs and is continuing, the Trustee may exercise the remedies set forth in the Master Indenture. Under no circumstances does an Event of Default grant any right to accelerate payment of this Bond. An Event of Default and its consequences may be waived as provided in the Master Indenture and the Sixth Supplemental Indenture. Bondholders may not enforce the Master Indenture or this Bond except as provided in the Master Indenture and the Sixth Supplemental Indenture . The Trustee may refuse to enforce the Master Indenture or this Bond unless it receives indemnity satisfactory to it.
Subject to certain limitations, holders of a majority of the principal amount of the Series 2025A Bonds (determined in accordanc e with the terms of the Master Indenture and the Sixth Supplemental Indenture) may direct the Trustee in its exercise of any trust or power.
13. No Recourse Against Others . No member, director, officer or employee of the City shall have any personal liability for any obligations of the City under this Bond, the Master Indenture or the Sixth Supplemental Indenture or for any claim based on such obligations or their creation or be subject to any personal liability or accountability by reason of the issuance thereof.
Each Bondholder, by accepting this Bond, waives and releases all such liability. The waiver and release are part of the consideration for the issuance of this Bond.
14. Authentication. This Bond shall not be valid until the Trustee or an authenticating agent signs the certificate of authentication on the second page of this Bond.
15. Abbreviations. Customary abbreviations may be used in the name of a Bondholder or an assignee, such as TEN COM (= tenants in common), TEN ENT (= tenants by the entireties), JT TEN (= joint tenants with right of survivorsh ip and not as tenants in common), CUST (= Custodian), U/G/M/A (= Uniform Gifts to Minors Act) and U/T/M/A (= Uniform Transfers to Minors Act).
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4914-2908-9852.3
[FORM OF ASSIGNMENT]
I or we assign and transfer to
Insert social security or other
identifying number of assignee
[ ]
[ ]
(Print or type name, address and zip code of assignee) this Bond and irrevocably appoint
agent to transfer this Bond on the books of the City. The agent may substitute another to act for him.
Dated:
Signed
(Sign exactly as name appears on the face of this Bond) Signature guaranteed:
(NOTE: Signature(s) guarantee should be made by a
guarantor institution participating in the Securities
Transfer Agents Medallion Program or such other
guarantee program acceptable to the Trustee.)
4914-2908-9852.3
EXHIBIT B
DEBT SERVICE SCHEDULE
$[PAR]
City of Bakersfield, California
Wastewater Revenue Refunding Bonds
Series 2025A Bonds
Date Principal Interest Total
3/15/2026 $— $[∙] $[∙]
9/15/2026 [∙] [∙] [∙]
3/15/2027 — [∙] [∙]
9/15/2027 [∙] [∙] [∙]
3/15/2028 — [∙] [∙]
9/15/2028 [∙] [∙] [∙]
3/15/2029 — [∙] [∙]
9/15/2029 [∙] [∙] [∙]
3/15/2030 — [∙] [∙]
9/15/2030 [∙] [∙] [∙]
3/15/2031 — [∙] [∙]
9/15/2031 [∙] [∙] [∙]
Total $[PAR].00 $ $
4914-2908-9852.3
EXHIBIT C
FORM OF SERIES 2025ACOSTS OF ISSUANCE FUND REQUISITION
Requisition No. __________
To: U.S. Bank Trust Company, National Association
633 West Fifth Street, 24th Floor
Los Angeles, California 90071
Attention: Global Corporate Trust Services
Re: Requisition of Funds from City of Bakersfield, California Wastewater Revenue Refunding Bonds, Series 2025A Costs of Issuance Fund
The amount requisitioned: $
Payment to be made to:
Manner in which payment is to be made:
Description of Costs of Issuance:
The undersigned, the Finance Director to the City, within the meaning of the Master Trust Indenture, dated as of August 1, 2007 (the “Master Indenture”), by and between the City of Bakersfield, California (the “ City”) and U.S. Bank Trust Company, National Association , successor in interest to U.S. Bank National Association, as trustee (the “Trustee”), and the Sixth Supplemental Trust Indenture , dated as of [August] 1, 2025 (the “ Sixth Supplemental Indenture”), by and between the City and the Trustee, hereby requisitions the amount set forth above and directs that such amount be paid to the party set forth above from funds held in the City of Bakersfield, California Wastewater Revenue Refunding Bonds, Series 2025A Costs of Issuance held under the Sixth Supplemental Indenture and directs that payment be made in the manner described above.
The amount to be paid represents Costs of Issuance associated with the issuance of the Series 2025A Bonds (as defined in the Sixth Supplemental Indent ure) and the amounts requisitioned from the Series 2025 A Costs of Issuance Fund, hereby, will be expended only in accordance with and subject to the limitations set forth in the Tax Compliance Certificate, dated [August] [21], 2025, relating to the Series 2025A Bonds. Capitalized terms not otherwise defined herein shall have the applicable meanings in the Master Indenture and the Sixth Supplemental Indenture.
Dated: .
By
Finance Director
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4914-2908-9852.3
EXHIBIT D
Refunded Series 2015A Bonds
City of Bakersfield, California
Wastewater Revenue Refunding Bonds
Series 2015A Bonds
Maturity Date
Principal
to be
Paid/Redeemed
Redemption
Price
Redemption
Date
CUSIP
Number
9/15/2025* $ 9,365,000 — — 05753P CC4
9/15/2026 9,885,000 100% [September 25], 2025 05753P CD2 9/15/2027 10,405,000 100 [September 25], 2025 05753P CE0 9/15/2028 11,030,000 100 [September 25], 2025 05753P CF7 9/15/2029 11,595,000 100 [September 25], 2025 05753P CG5 9/15/2030 12,195,000 100 [September 25], 2025 05753P CH3 9/15/2031 4,265,000 100 [September 25], 2025 05753P CJ9
* The Refunded Series 2015A Bonds maturing on September 15, 2025, are being defeased to the stated maturity date of September 15, 2025.