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redemption with respect to the Owners to whom such notice was mailed and shall not result in any liability to the Trustee. (i) All Bonds redeemed pursuant to the provisions of this Section shall be cancelled by the Trustee and shall be destroyed and shall not be reissued. SECTION 2.04. Global Form; Securities Deposition. Except as otherwise provided herein, each Series 1994 Bond shall be issued in the form or one global certificate for each maturity of such series, registered in the name of the Securities Depository or its nominee, and ownership thereof shall be maintained in book-entry form by the Securities Depository for the account of the Participants thereof. "Securities Depository" means DTC, appointed as securities depository herein, and its successors and assigns or if(i) the then Securities Depository resigns from its functions as depository of the 1994 Bonds or (ii) the Authority discontinues the use of the Securities Depository pursuant to Section 3.01 hereof, any other securities depository which agrees to follow the procedures required to be followed by a securities depository in connection with the 1994 Bonds and which is appointed by the Authority (with the consent of the Auction Agent and the Market Agent, with respect to any outstanding AIRS, which consent shall not be unreasonably withheld). "Participant" means a member of, or participant in, the Securities Depository. Initially, the 1994 Bonds shall be registered in the name of Cede & Co., as the nominee of The Depository Trust Company. Except as provided in Section 3.01 hereof, the 1994 Bonds may be transferred, in whole but not in part, only to the, Securities Depository or a nominee of the Securities Depository, or to a successor Securities Depository appointed or approved by the Authority or to a nominee of such successor. SECTION 2.05. Execution of Bonds. The Chairman of the Authority is hereby authorized and directed to execute each of the Bonds on behalf of the Authority and the Secretary of the Authority is hereby authorized and directed to countersign each of the Bonds on behalf of the Authority. The signatures of such President and Secretary may be by printed, lithographed or engraved by facsimile reproduction. In case any officer whose signature appears on the Bonds shall cease to be such officer before the delivery of the Bonds to the purchaser thereof, such signature shall nevertheless be valid and sufficient for all purposes as if such officer had remained in office until such delivery of the Bonds. Only those Bonds bearing thereon a certificate of authentication and registration in substantially the form set forth in Exhibit A hereto, executed manually and dated by the Trustee, shall be entitled to any benefit, protection or security hereunder or be valid or obligatory for any purpose, and such certificate of the Trustee shall be conclusive evidence that the Bonds so authenticated and registered have been duly authorized, executed, issued and delivered hereunder and are entitled to the benefit, protection and security hereof. LAI-63221.5 26