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<br />12 <br />the Trustee. Neither the failure to receive any notice nor any defect therein shall affect the sufficiency of the proceedings for such redemption or the cessation of accrual of interest from <br />and after the redemption date. <br /> Selection of Bonds for Redemption. Whenever provision is made in the Indenture for <br />the redemption of less than all of the Bonds of a single maturity, the Trustee shall select the Bonds of that maturity to be redeemed by lot in any manner which the Trustee in its sole discretion deems appropriate. For purposes of such selection, the Trustee shall treat each <br />Bond as consisting of separate $5,000 portions and each such portion shall be subject to redemption as if such portion were a separate Bond. <br />Effect of Redemption. Notice of redemption having been duly given as described above, and moneys for payment of the redemption price of, together with interest accrued to the <br />date fixed for redemption on, including any applicable premium, the Bonds (or portions thereof) <br />so called for redemption being held by the Trustee, on the redemption date designated in such notice, the Bonds (or portions thereof) so called for redemption shall become due and payable, <br />interest on the Bonds so called for redemption shall cease to accrue, said Bonds (or portions <br />thereof) shall cease to be entitled to any benefit or security under the Indenture, and the Owners of said Bonds shall have no rights in respect thereof except to receive payment of the <br />redemption price thereof. Rescission of Redemption. The Authority has the right to rescind any notice of optional <br />redemption of Bonds by written notice to the Trustee on or prior to the dated fixed for redemption. Any notice of redemption shall be cancelled and annulled if for any reason funds will not be or are not available on the date fixed for redemption for the payment in full of the <br />Bonds then called for redemption, and such cancellation shall not constitute an Event of Default. The Authority and the Trustee have no liability to the Bond Owners or any other party related to or arising from such rescission of redemption. The Trustee shall mail notice of such rescission <br />of redemption in the same manner as the original notice of redemption was sent under the Indenture. <br /> Book–Entry Only System <br />The 2018 Bonds will be issued as fully registered bonds in book–entry only form, <br />registered in the name of Cede & Co. as nominee of DTC, and will be available to ultimate <br />purchasers in integral multiples of $5,000, under the book–entry system maintained by DTC. While the 2018 Bonds are subject to the book–entry system, the principal, interest and any <br />redemption premium with respect to a Bond will be paid by the Trustee to DTC, which in turn is obligated to remit such payment to its DTC Participants for subsequent disbursement to Beneficial Owners of the 2018 Bonds. Purchasers of the 2018 Bonds will not receive <br />certificates representing their interests therein, which will be held at DTC. <br />The Authority and the Trustee cannot and do not give any assurances that DTC, DTC Participants or others will distribute payments of principal, interest or premium with respect to <br />the 2018 Bonds paid to DTC or its nominee as the registered owner, or will distribute any redemption notices or other notices, to the Beneficial Owners, or that they will do so on a timely basis or will serve and act in the manner described in this Official Statement. The Authority and <br />the Trustee are not responsible or liable for the failure of DTC or any DTC Participant to make any payment or give any notice to a beneficial Owner with respect to the 2018 Bonds or an error <br />or delay relating thereto. See “APPENDIX E – DTC AND THE BOOK–ENTRY ONLY SYSTEM” <br />for further information regarding DTC and the book–entry system.