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EXHIBIT A-3 <br /> (FORM OF ARS BOND) <br /> NUMBER R-ARS_-1 $ <br /> Unless this certificate is presented by an authorized representative of The <br /> Depository Trust Company, a New York corporation ("DTC"), to the Authority or its agent <br /> for registration of transfer, exchange, or payment, and any certificate issued is registered in <br /> the name of Cede & Co. or in such other name as is requested by an authorized <br /> representative of DTC (and any payment is made to Cede & Co. or to such other entity as <br /> is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE, OR <br /> OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS <br /> WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. <br /> THIS BOND MAY NOT BE SPLIT UP, TRANSFERRED OR EXCHANGED <br /> EXCEPT AS PROVIDED IN THE INDENTURE REFERRED TO HEREIN <br /> SANTA ANA FINANCING AUTHORITY <br /> POLICE ADMINISTRATION AND HOLDING FACILITY <br /> LEASE REVENUE BONDS, SERIES 1994A <br /> AUCTION RATE SECURITY <br /> INTEREST RATE MATURITY DATE DATED DATE CUSIP NUMBER <br /> Variable July 1, 2014 March 23, 1994 <br /> REGISTERED OWNER: CEDE & CO. <br /> PRINCIPAL SUM: TEN MILLION SIX HUNDRED THOUSAND DOLLARS <br /> FOR VALUE RECEIVED, the Santa Ana Financing Authority(the "Authority"), a joint <br /> powers authority, duly created and existing under the laws of the State of California (the <br /> "State"), hereby promises to pay (but only from revenues hereinafter referred to) to the <br /> registered owner named above or registered assigns, the principal amount specified above on <br /> the maturity date specified above, and to pay to the registered owner named above or registered <br /> assigns, solely from said sources, interest on said principal amount from January 1, 1995 or <br /> from the most recent Interest Payment Date (as hereafter defined) to which interest has been <br /> paid or duly provided for, until the principal hereof is paid or duly provided for, at the rate <br /> A-3-1 <br />