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If fewer than all of the Series 1989 Bonds are to be so redeemed, the County may select the maturity or maturities to be redeemed. If fewer than all of the Series 1989 Bonds of any maturity are to be redeemed, the Bond Registrar will select by lot the particular Series 1989 Bonds or portions of Series 1989 Bonds (in fully registered form) of such maturity to be redeemed. The portion of any fully registered Series 1989 Bond of a denomination of more than $5,000 to be redeemed will be in the principal amount of $5,000 or an integral multiple of that sum. Notice of Redemption Notice of the intention to redeem the Bonds in whole or in part will be mailed by the Paying Agent, by first class mail, to the Registered Owners of the Bonds to be redeemed in whole or in part not more than 45 days and not less than 30 days prior to the date fixed for redemption, at their respective addresses as shown on the registration books, in accordance with the terms of the Resolution. Such notice is to specify the series, maturities and numbers of Bonds to be redeemed (including the CUSIP number); the date fixed for redemption; the redemption price or prices applicable to the Bonds to be redeemed; and that on the date fixed for redemption such Bonds will be payable at the principal corporate trust office of the Paying Aqent and that after such date interest shall cease to accrue on such Bonds. If holders or Registered Owners of all such Bonds to be redeemed file written waivers of notice with the Paying Agent, such Bonds may be redeemed on the redemption date without necessity of notice by mailing. Failure to mail any notice of redemption or any defect therein or in the mailing thereof will not affect the validity of any proceeding for redemption of other Bonds so called for redemption. SECURITY AND SOURCES OF PAYMENT Pledge of Net Revenues The Series 1989 Bonds are limited obligations of the County. The Series 1989 Bonds will be payable solely by the County from and secured by a lien upon and pledge of the "Net Revenues" of the System, together with such other revenues and funds which the County may choose to pledge by subsequent resolution as described below. Subject to the release of security as discussed below, "Net Revenues" for purposes of the Series 1989 Bonds means Revenues less Operating Expenses. "Revenues" as used herein means: (i) all receipts and revenues of the County derived from the imposition, collection and enforcement of uniform water and sewer service rates, fees and charges for the use of and the services furnished or to be furnished by the facilities constituting the System, including the earnings and interest income derived from the investment of moneys on deposit in various funds and accounts established in connection with the System, but excluding Surcharges, Impact Fees, Special Assessments, Franchise Fees and Fees in lieu of Franchise Fees (the