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The foregoing provision notwithstanding, except in the <br />0 <br />case of a complete refunding of all of the Bonds issued hereunder <br />and then outstanding, Additional Parity Obligations may be issued <br />to refund a series of Bonds or any portion of a series of Bonds, <br />including any maturity or portion of a maturity within any series <br />of Bonds, or any combination thereof, without compliance with the <br />above paragraph so long as the Debt Service Requirement, as defined <br />Oi <br />herein, in each Fiscal Year after the refunding does not exceed in <br />each and every case the Debt Service Requirement, as defined <br />herein, in each Fiscal Year before the refunding, as determined by <br />the Accountant, whose certificate to that effect shall be fur- <br />nished to the Issuer. prior to the delivery of the Additional <br />Parity Refunding Obligations. <br />(2) For purposes of determining the Maximum Debt Service <br />Requirement for the issuance of Additional Parity Obligations which <br />will bear a variable rate of interest, the interest on such pro- <br />posed Additional Parity Obligations shall be deemed to be the <br />interest rate quoted in The Bond Buyer 20 General Obligation Bond <br />Index for the last week of the month preceding the date of sale of <br />such Additional Parity Obligations, as published in The Bond Buyer <br />or if that index is no longer published, an interest rate equal to <br />80% of the yield for outstanding Treasury bonds having an equiva- <br />lent maturity as the Additional Parity Obligations proposed to be <br />issued, or if there are no such Treasury bonds having equivalent <br />maturities, 80% of the lowest prevailing prime rate of any of the <br />five largest commercial banks in the United States ranked by <br />assets. -If none of the foregoing are available, such interest <br />rate shall be that selected by a Qualified Independent Consultant. <br />If Additional Parity Obligations are payable at the option of the <br />holder, the "put" date or dates shall be ignored and the stated <br />maturity dates thereof shall be used for purposes of calculating <br />the Maximum Debt Service Requirement for such variable rate <br />Additional Parity Obligations. <br />(3) Each resolution authorizing the issuance of Additional <br />-37- <br />