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<br />e
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<br />e
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<br />(AUTHORITY SEAL)
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<br />[FOR.\1 OF BACK PANEL OF BOND]
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<br />THIS BOND is one of a series of bonds of like tenor and effect, except as to denomination, nwnber,
<br />maturity, interest rate, interest payment, and right of prior redemption, issued in the aggregate principal amount of
<br />$8,080,000 for the purposes of refunding the Refunded Bonds (as defmed in the Resolution).
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<br />THE BONDS of this Series scheduled to mature on and after March 15, 2011 may be redeemed prior to
<br />their scheduled maturities, in whole or in part in principal amounts of $5,000 or any integral multiple thereof, at the
<br />option of the Authority, on March 15, 2010, or on any date selected by the Authority thereafter, at the redemption
<br />price of par plus accrued interest to the date fixed for redemption. If less than all of the Bonds are to be redeemed
<br />by the Authority, the Authority shall detennine the maturity or maturities and the amounts therewith to be redeemed
<br />and shall direct the Paying Agent/Registrar to call by lot Bonds, or portions' thereof, within such maturity or
<br />maturities and in such principal amounts, for redemption.
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<br />AT LEAST 30 days prior to the date for any redemption of this Bond prior to maturity, a notice of such
<br />redemption also shall be sent by the Paying Agent/Registrar by United States mail, first class, postage prepaid, to the
<br />registered owner of each Bond, or portion thereof to be redeemed, at its address as it appeared on the Registration
<br />Books on the 45th day prior to such redemption date and to major securities depositories, national bond rating
<br />agencies, and bond information services, if any exist on such date; provided, however, that the failure to send, mail,
<br />or receive such notice, or any defect therein or in the sending or mailing thereof, shall not affect the validity or
<br />effectiveness of the proceedings for the redemption of any Bond. By the date fixed for any such redemption, due
<br />provision shall be made by the Authority with the Paying Agent/Registrar for the payment of the required
<br />redemption price for this Bond or the portion hereof which is to be so redeemed, plus accrued interest thereon to the
<br />date fixed for redemption. If such notice of redemption is given, and if due provision for such payment is made, all
<br />as provided above, this Bond, or the portion thereof which is to be so redeemed, thereby automatically shall be
<br />redeemed prior to its scheduled maturity, and shall not bear interest after the date fixed for its redemption~ and shall
<br />not be regarded as being outstanding except for the right of the registered owner to receive the redemption price plus
<br />accrued interest to the date fixed for redemption from the Paying Agent/Registrar out of the funds provided for such
<br />payment. The Paying Agent/Registrar shall record in the Registration Books all such redemptions of principal of
<br />this Bond or any portion hereof. If a portion of any Bond shall be redeemed, a substitute Bond or Bonds having the
<br />same maturity date, bearing interest at the same rate, in any denomination or denominations in any integral multiple
<br />of $5,000, at the written request of the registered owner, and in an aggregate principal amount equal to the
<br />unredeemed portion thereof, will be issued to the registered owner upon the surrender thereof for cancellation, at the
<br />expense of the Authority, all as provided in the Resolution.
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<br />IF THE DATE for the payment of the principal of or interest on this Bond shall be a Saturday, a Sunday, a
<br />legal holiday, or a day on which banking institutions in the city where the Paying Agent/Registrar is located are
<br />authorized by law or executive order to close, then the date for such payment shall be the next succeeding day which
<br />is not such a Saturday, Sunday, legal holiday, or day on which banking institutions are authorized to close; and
<br />payment on such date shall have the same force and effect as if made on the original date payment was due.
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<br />ALL BONDS OF THIS SERIES are issuable solely as fully registered bonds, without interest coupons, in
<br />the denomination of any integral multiple of $5,000. As provided in the Resolution, this Bond, or any unredeemed
<br />portion hereof, may, at the request of the registered owner or the assignee or assignees hereof, be assigned,
<br />transferred, and exchanged for a like aggregate principal amount of fully registered bonds, without interest coupons,
<br />payable to the appropriate registered owner, assignee, or assignees, as the case may be, having the sam~ maturity
<br />date, and bearing interest at the same rate, in any denomination or denominations in any integral multiple of $5,000
<br />as requested in writing by the appropriate registered owner, assignee, or assignees, as the case may be, upon
<br />surrender of this Bond to the Paying Agent/Registrar for cancellation, all in accordance with the form and
<br />procedures set forth in the Resolution. Among other requirements for such assignment and transfer, this Bond must
<br />be presented and surrendered to the Paying Agent/Registrar, together with proper instruments of assignment, in form
<br />and with guarantee of signatures satisfactory to the Paying AgentlRegistrar, evidencing assignment of this Bond or
<br />any portion or portions hereof in any integral multiple of $5,000 to the assignee or assignees in whose name or
<br />names this Bond or any such portion or portions hereof is or are to be transferred and registered. The form of
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