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The City covenants pursuant to the Indenture to take such action as may be necessary to include in each of its annual budgets the payments required to be made by the City under the Indenture, and to make the necessary annual appropriations for all such payments. If any payment of Debt Service requires the adoption by the City of a supplemental budget or appropriation, the City covenants to promptly adopt the same. The City is not funding a debt service reserve fund for the Bonds. See "SECURITY FOR THE BONDS" and "APPENDIX B - Summary of Certain Provisions of the Indenture." Redemption The Bonds are subject to redemption prior to their stated maturity, at the option of the City, in whole or in part, as described in this Official Statement. [The Bonds maturing on June 1, 20_ are also subject to mandatory redemption as described in this Official Statement.] See "THE BONDS — Redemption of the Bonds ". Limited Obligations The Bonds do not constitute an obligation of the City for which the City is obligated to levy or pledge any form of taxation or for which the City has levied or pledged any form of taxation. Neither the Bonds nor the obligation of the City to make payments on the Bonds constitute an indebtedness of the City, the State of California, or any of its political subdivisions within the meaning of any constitutional or statutory debt limitation or restriction. Summaries Not Definitive The summaries and references of documents, statutes, reports and other instruments referred to in this Official Statement do not purport to be complete, comprehensive or definitive, and each such summary and reference is qualified in its entirety by reference to each document, statute, report, or instrument. The capitalization of any word not conventionally capitalized, or otherwise defined in this Official Statement, indicates that such word is defined in a particular agreement or other document and, as used in this Official Statement, has the meaning given it in such agreement or document. See "APPENDIX B - Summary of Certain Provisions of the Indenture" for summaries of certain of such definitions. Copies of the documents described in this Official Statement will be available at the City Manager's office, City of San Leandro, 835 East 14th Street, San Leandro, California 94577- 3767. 2