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THE INTEREST PERIOD, THE APPLICABLE IRS RATE AND METHOD FOR <br /> DETERMINING IT, THE APPLICABLE ARS RA D METHOD FOR <br /> DETERMINING IT, THE INTEREST PAYME ES, AND THE AUCTION <br /> PROCEDURE RELATED THERETO WILL ERMINED UPON THE TERMS <br /> AND CONDITIONS, INCLUDING REQ OTICES THEREOF TO THE <br /> HOLDERS OF THE BONDS, DESC THE INDENTURE INCLUDING Appendix <br /> A THERETO, TO WHICH PROVIS PECIFIC REFERENCE IS HEREBY MADE <br /> AND ALL OF WHICH PROVISIONS RE HEREBY SPECIFICALLY INCORPORATED <br /> HEREIN BY REFERENCE. <br /> Mandatory Tender of ARS, Fixing and Separating ARS and IRS <br /> Any Beneficial Owner of IRS may, at any time and from time to time, notify a <br /> Broker-Dealer that such Beneficial Owner intends to submit a Bid for a specified principal <br /> amount of ARS having the same maturity date as such IRS on the next succeeding Auction <br /> Date in order to cause such ARS to be Fixed with all or a portion of such IRS, and that if <br /> such Bid is unsuccessful, in whole or in part, such Beneficial Owner requires that ARS <br /> (which are not Fixed) in an aggregate principal amount equal to the unsuccessful portion of <br /> such Bid be tendered to such Beneficial Owner for purchase on the seventh Business Day <br /> prior to the next succeeding Auction Date following the Auction in which such Bid proved <br /> unsuccessful. <br /> A Beneficial Owner of IRS may cause such IRS to be combined with ARS, or <br /> "Fixed", and traded as a unit as Regular Fixed AIRS or Newly Fixed AIRS. IRS which <br /> became Fixed with ARS will be considered Newly Fixed AIRS for the remainder of the <br /> Interest Period in which such IRS and ARS were Fixed. The Service Charge payable with <br /> respect to the ARS which were Fixed will continue to accrue for the remainder of such <br /> Interest Period. <br /> A Beneficial Owner of Regular Fixed AIRS or Newly Fixed AIRS may cause such <br /> ARS and IRS to be "Separated", and traded separately as IRS and ARS, during the seven-day <br /> period immediately preceding a Record Date (other than during a Closed Period) by <br /> delivering instructions to a Broker-Dealer. Upon receipt of notice from the Broker-Dealer, <br /> the Auction Agent will cause such Regular Fixed AIRS or Newly Fixed AIRS to be <br /> Separated on the next succeeding Interest Payment Date, or if such Interest Payment Date <br /> falls within a Closed Period, on the next succeeding Auction Period Accrual Date. <br /> Redemption Provisions <br /> The IRS are subject to redemption at the option of the Authority in whole or in part <br /> on any Interest Payment Date on or after July 1, 2004, at the following redemption prices <br /> LA1-70383.1 5 <br />