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THE BONDS General Provisions Repayment of the Bonds. The Bonds shall be issued in fully registered form without coupons in integral multiples of $5,000 and will be dated as of the date of delivery (the "Closing Date"). Interest on the Bonds is payable at the rates per annum set forth on the inside cover page of the Official Statement. Interest on the Bonds will be computed on the basis of a year consisting of 360 days and twelve 30 -day months. Interest on the Bonds will be payable on each March 1 and September 1, commencing March 1, 2019 (each an "Interest Payment Date"). The Bonds shall bear interest from the Interest Payment Date next preceding the date of authentication thereof, unless (a) it is authenticated after the 15th calendar day of the month preceding an Interest Payment Date (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) unless it is authenticated on or before February 15, 2019, in which event it shall bear interest from the Closing Date; provided, however, that if, as of the date of authentication of any Bond, interest thereon is in default, such Bond shall bear interest from the Interest Payment Date to which interest has previously been paid or made available for payment thereon. Any Bond may, in accordance with its terms, be transferred, upon the books required to be kept pursuant to the provisions of the Indenture, by the person in whose name it is registered, in person or by his duly authorized attorney, upon surrender of such Bond at the corporate trust office of the Trustee (the "Corporate Trust Office") for cancellation, accompanied by delivery of a duly executed written instrument of transfer in a form approved by the Trustee. Whenever any Bond or Bonds shall be surrendered for transfer, the Successor Agency shall execute and the Trustee will authenticate and deliver a new Bond or Bonds for a like aggregate principal amount of the same Series, interest rate and maturity date (and interest rate in the case of bifurcated maturities). The Trustee shall require the payment by the owner of the Bond (the "Owner") requesting such transfer of any tax or other governmental charge required to be paid with respect to such transfer. The Trustee will not be required to register the transfer of any Bonds during the fifteen (15) days prior to the date of selection of the Bonds for redemption, or of any Bonds selected for redemption. The Bonds may be exchanged at the Corporate Trust Office for a like aggregate principal amount of Bonds of the same series, interest rate and maturity date (and interest rate in the case of bifurcated maturities) in other authorized denominations. The Trustee shall require the payment by the Owner requesting such exchange of any tax or other governmental charge required to be paid with respect to such exchange. The Trustee will not be required to exchange any Bonds during the fifteen (15) days prior to the date of selection of the Bonds for redemption, or of any Bonds selected for redemption. The foregoing provisions regarding the transfer and exchange of the Bonds apply only if the book -entry system is discontinued. So long as the Bonds are in the book -entry system of The Depository Trust Company ("DTC") as described below, the rules of DTC will apply for the transfer and exchange of Bonds. The Bonds will be registered initially in the name of "Cede & Co.," as nominee of the Securities Depository and shall be evidenced by one bond for each maturity of Bonds in the principal amount of the respective maturities of Bonds. Registered ownership of the Bonds, or any portion thereof, may not thereafter be transferred except as set forth herein. Book -Entry System. DTC will act as securities depository for the Bonds. The Bonds will be issued as fully registered securities registered in the name of Cede & Co. (DTC's partnership nominee) or such other name as may be requested by an authorized representative of DTC. Interest on and principal of the Bonds will be payable when due by wire of the Trustee to DTC which will in turn remit such interest and principal to DTC SA -3-22