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<br />A-3 <br />transfer or exchange, a new Bond or Bonds of authorized denominations of the same Maturity <br />Date and interest rate and in the same aggregate principal amount hereof will be executed and <br />delivered by the Authority and authenticated by the Trustee to the Owner thereof in exchange <br />therefor. The Trustee shall require the payment by the Owner requesting such transfer or <br />exchange of any tax or other governmental charge required to be paid with respect to such <br />transfer or exchange. The Trustee may treat the Owner hereof as the absolute owner hereof for <br />all purposes, whether or not this Bond shall be overdue, and the Trustee shall not be affected by <br />any knowledge or notice to the contrary; and payment of the interest and principal and <br />redemption premium, if any, evidenced by this Bond shall be made only to such Owner, which <br />payments shall be valid and effectual to satisfy and discharge liability evidenced by this Bond to <br />the extent of the sum or sums so paid. <br /> <br />The Trustee shall not be obligated to make any such registration of transfer or exchange <br />of Bonds during the fifteen (15) day period prior to the date on which notice of redemption must <br />be mailed pursuant to the Indenture, or with respect to any Bond which has been selected for <br />redemption pursuant to the Indenture (except any unredeemed portion thereof). <br /> <br />The Bonds are subject to redemption, in whole or in part on any date, from the Net <br />Proceeds of insurance or condemnation with respect to the Enterprise, which Net Proceeds are <br />deposited in the Payment Fund and credited towards the prepayment of the Installment <br />Payments made by the City pursuant to the Installment Purchase Contract, at a redemption <br />price equal to the principal amount of the Bonds to be redeemed, together with accrued interest <br />to the date fixed for redemption, without premium. <br /> <br />The Bonds maturing on or before February 1, 2027, are not subject to optional <br />redemption prior to their stated maturities. The Bonds maturing on or after February 1, 2028, are <br />subject to optional redemption on any date on or after February 1, 2027, in whole or in part, <br />from prepayments of the Installment Payments made at the option of the City pursuant to the <br />Installment Purchase Contract, at a redemption price equal to the principal amount thereof to be <br />redeemed together with accrued interest to the redemption date, without premium. <br /> <br />As provided in the Indenture, notice of redemption hereof shall be mailed, first class <br />postage redeemed, not less than thirty (30) nor more than forty-five (45) days prior to the <br />redemption date, to the Owner of this Bond at such Owner’s address as it appears in the <br />registration books maintained by the Trustee, but failure to give any such notice or any defect <br />therein shall not affect the validity of the proceedings for the redemption of this Bond. The <br />Authority shall have the right to rescind any optional redemption as provided in the Indenture. If <br />this Bond is called for redemption and payment is duly provided therefor as specified in the <br />Indenture, the interest evidenced hereby shall cease to accrue from and after the date fixed for <br />redemption. <br /> <br />The Trustee has no obligation or liability to the Owners of the Bonds for the payment of <br />the interest or principal or redemption premiums, if any, on the Bonds; but rather the Trustee’s <br />sole obligations are to administer, for the benefit of the Authority and the Owners of the Bonds, <br />the various funds established under the Indenture. <br /> <br />This Bond shall not be entitled to any benefit, protection or security under the Indenture <br />or become valid or obligatory for any purpose until certificate of authentication and registration <br />hereon endorsed shall have been manually executed and dated by the Trustee. <br /> <br />8.C. - Page 156