10B Action 2009 1221 - Laserfiche WebLink

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THE 2010 BONDS Description The 2010 Bonds will be dated their date of issuance and delivery, will bear interest at the rates per annum set forth on the cover page hereof payable semiannually on March 1 and September 1 (each, an "Interest Payment Date"), commencing September 1, 2010, and will mature on the dates and in the amounts set forth on the cover page hereof. The 2010 Bonds will be issued in denominations of $5,000 or any integral multiple thereof, so long as no 2010 Bond shall have more than one maturity date. The 2010 Bonds will be issued only as one fully registered 2010 Bond for each maturity, in the name of Cede 8 Co., as nominee for The Depository Trust Company, New York, New York ("DTC"), as registered owner of all 2010 Bonds. See "APPENDIX G -Book-Entry Only System." Ownership may be changed only upon the registration books maintained by U.S. Bank National Association (the "Trustee") as provided in the Indenture. See "Transfer and Exchange" below. Each 2010 Bond shall bear interest from the Interest Payment Date next preceding the date of authentication thereof, unless (a) it is authenticated after a Record Date and on or before the following Interest Payment Date, in which event it shall bear interest from such Interest Payment Date; or (b) it is authenticated on or before August 15, 2010, in which event it shall bear interest from the Closing Date; provided, however, that if, as of the date of authentication of any 2010 Bond, interest thereon is in default, such 2010 Bond shall bear interest from the Interest Payment Date to which interest has previously been paid or made available for payment thereon. The 2010 Bonds shall mature and shall bear interest calculated on the basis of a 360-day year of twelve 30-day months. Interest on the 2010 Bonds (including the final interest payment upon maturity or redemption) is payable when due by check or draft of the Trustee mailed to the Owner thereof at such Owner's address as it appears on the Registration Books at the close of business on the preceding Record Date; provided that at the written request of the Owner of at least $1,000,000 aggregate principal amount of 2010 Bonds, which written request is on file with the Trustee as of any Record Date, interest on such 2010 Bonds shall be paid on the succeeding Interest Payment Date to such account in the United States as shall be specified in such written request. While the 2010 Bonds are held in the book-entry only system of DTC, all such payments will be made to Cede 8~ Co., as the registered Owner of the 2010 Bonds. The principal of the 2010 Bonds and any premium upon redemption, are payable in lawful money of the United States of America upon presentation and surrender thereof at the principal corporate trust office of the Trustee. See "APPENDIX G -Book Entry Only System". Redemption Optional Redemption. The 2010 Bonds maturing on or before September 1, 2019, are not subject to optional redemption prior to maturity. The 2010 Bonds maturing on and after September 1, 2020, are subject to redemption, at the option of the Agency, on any date on or after September 1, 2019, as a whole or in part, by such maturities as shall be determined by the Agency, and by lot within a maturity, from any available source of funds, at a redemption price equal to the principal amount of the 2010 Bonds to be redeemed, together with accrued interest thereon to the date fixed for redemption. -4-