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<br />e <br /> <br />e <br /> <br />15.03. Paying Agent/Registrar May Own Bonds. The <br />Paying Agent/Registrar, in its individual or any other <br />capacity, may become the owner or pledgee of the Bonds with <br />the same rights it would have if it were not Paying <br />Agent/Registrar. <br /> <br />15.04. Legal Holidays. In any case where the <br />date of maturity of the principal of or interest on the <br />Bonds or the date fixed for redemption of any Bonds shall be <br />(a) a legal holiday in the city of the principal office of <br />the Paying Agent/Registrar or (b) a day on which banking <br />institutions are authorized by law to close in such city, <br />then payment of interest or principal need not be made on <br />such date but may be made on the next succeeding day not a <br />legal holiday or day on which banking institutions are <br />authorized by law to close in such city with the same force <br />and effect as if made on the date of maturity or the date <br />fixed for redernption and no interest shall accrue for the <br />period from and after such date. <br /> <br />15.05. Benefits of Resolution Provision. Nothing <br />in this Resolution, expressed or implied, shall give or be <br />construed to give any person, firm or corporation, other <br />than the Authority, the Paying Agent/Registrar and the <br />registered owners of the Bonds, any legal or equitable right <br />or claim under or in respect of this Resolution or under any <br />covenant, condition or provision herein contained, all the <br />covenants, conditions and provisions contained in this <br />Resolution being for the sole benefit of the Authority, the <br />Paying Agent/Registrar and the registered owners of the <br />Bonds. <br /> <br />15.06. Interpretations. The titles and headings <br />of the Sections of this Resolution have been inserted for <br />convenience of reference only and are not to be considered a <br />part hereof and shall not in any way modify or restrict any <br />of the terms and provisions hereof. This Resolution and all <br />the terms and provisions hereof shall be liberally construed <br />to effectuate the purposes set forth herein and to sustain <br />the validity of the Bonds herein authorized and the validity <br />of the lien on and pledge of the revenues from which the <br />Bonds are payable. <br /> <br />022DESAO/024C04 <br /> <br />-34- <br />