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(b) with respect to any outstanding Fixed Rate Bonds, an amount equal to (1) the <br /> principal amount of such Fixed Rate Bonds due or subject to mandatory redemption during such <br /> period and for which no sinking fund installments have been established, (2) the amount of any <br /> payments required to be made during such period into any sinking fund established for the <br /> payment of any such Fixed Rate Bonds, plus (3) all interest payable during such period on any <br /> such outstanding Fixed Rate Bonds and with respect to Fixed Rate Bonds with mandatory <br /> sinking fund requirements, calculated on the assumption that mandatory sinking fund <br /> installments will be applied to the redemption or retirement of such Fixed Rate Bonds on the date <br /> specified in the ordinance authorizing such Fixed Rate Bonds; and <br /> (c) with respect to all other series of Parity Bonds, other than Fixed Rate Bonds, <br /> Original Issue Discount Bonds or Capital Appreciation Bonds, specifically including but not <br /> limited to Balloon Maturity Bonds and Parity Bonds bearing variable rates of interest, an amount <br /> for any period equal to the amount which would have been payable for principal and interest on <br /> such Parity Bonds during such period computed on the assumption that the amount of Parity <br /> Bonds as of the date of such computation would be amortized (i) in accordance with the <br /> mandatory redemption provisions, if any, set forth in the ordinance authorizing the issuance of <br /> such Parity Bonds, or if mandatory redemption provisions are not provided, during a period <br /> commencing on the date of computation and ending on the date 30 years after the date of <br /> issuance (ii) at an interest rate for the Base Period determined as follows: (A) if the Variable <br /> Rate Bonds have been Outstanding for at least twelve (12) months, assume that the Parity Bonds <br /> bear interest at the higher of the actual rate borne by the Parity Bonds on the date of calculation <br /> or the average rate borne by the Parity Bonds over the twelve (12) months immediately <br /> preceding the date of calculation, and(B) if the Parity Bonds have been Outstanding for less than <br /> -8- P:\20287_CMW\20287_960 02/07/11 <br />