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respective addresses of such owners as they appear on the registration books of the Trustee as of the
<br /> applicable Record Date; provided, however, that payment of interest may be made by wire transfer in
<br /> immediately available funds to an account in the United States of America to any registered owner of Bonds
<br /> in the aggregate principal amount of$1,000,000 or more who shall furnish written wire instructions to the
<br /> Trustee at least five (5) days before the applicable Record Date. The Bonds will bear interest from the
<br /> Interest Payment Date next preceding the date of authentication thereof, unless (i) it is authenticated after
<br /> a Record Date and on or before the following Interest Payment Date, in which event it shall bear interest
<br /> from such Interest Payment Date, or (ii) it is authenticated on or before January 15, 1996, in which event
<br /> it shall bear interest from the date of issuance thereof; provided, however, that if, as of the date of
<br /> authentication of any Bond, interest thereon is in default, such Bond shall bear interest from the Interest
<br /> Payment Date to which interest has previously been paid or made available for payment thereon.
<br /> Principal of any Bond and any premium upon redemption will be paid by check of the Trustee upon
<br /> presentation and surrender thereof at the corporate trust office of the Trustee in Los Angeles, California.
<br /> The Bonds will be issued in fully registered form, without coupons, registered in the name of The
<br /> Depository Trust Company, New York, New York ("DTC") or its nominee. DTC will act as securities
<br /> depository for the Bonds. Purchases of beneficial interest in the Bonds will be made in book-entry form
<br /> only in denominations of$5,000 or any integral multiple thereof. So long as the Bonds are held in the book-
<br /> entry system of DTC, all payments of principal, interest and premium, if any, will be made by the Trustee
<br /> to DTC as the registered owner of the Bonds. For a more complete discussion of DTC and its book-entry
<br /> system, see "Book-Entry Only System" below.
<br /> Book-Entry Only System
<br /> The information in this section concerning DTC and DTC's book-entry system is based solely on
<br /> information provided by DTC. Accordingly, no representations can be made by the Authority concerning
<br /> these matters and neither the DTC Participants nor the Beneficial Owners should rely on the foregoing
<br /> information with respect to such matters, but should instead confirm the same with DTC or the DTC
<br /> Participants, as the case may be.
<br /> DTC will act as securities depository for the Bonds. The Bonds will, when issued, be payable to
<br /> Cede & Co. (DTC's partnership nominee). One or more fully registered Bond will be issued for each
<br /> maturity of Bonds and will be deposited with DTC.
<br /> DTC is a limited-purpose trust company organized under the laws of the State of New York, a
<br /> "banking organization" within the meaning of the laws of the State of New York, a member of the Federal
<br /> Reserve System, a "clearing corporation" within the meaning of the New York Uniform Commercial Code
<br /> and a "clearing agency" registered pursuant to the provisions of Section 17A of the Securities Exchange Act
<br /> of 1934, as amended. DTC holds securities that its participants ("DTC Participants") deposit with DTC.
<br /> DTC also facilitates the settlement among DTC participants of securities transactions, such as transfers and
<br /> pledges, in deposited securities through electronic computerized book-entry changes in accounts of DTC
<br /> Participants, thereby eliminating the need for physical movement of securities certificates. DTC Participants
<br /> include securities brokers and dealers, banks, trust companies, clearing corporations and certain other
<br /> organizations (the "Direct Participants"). DTC is owned by a number of its Direct Participant and by the
<br /> New York Stock Exchange, Inc., the American Stock Exchange, Inc., and the National Association of
<br /> Securities Dealers, Inc. Access to the book-entry system is also available to others such as banks, securities
<br /> brokers and dealers and trust companies that clear through or maintain a custodial relationship with a DTC
<br /> Participant, either directly or indirectly (the "Indirect Participants"). The rules applicable to DTC and its
<br /> Direct and Indirect Participants are on file with the Securities and Exchange Commission.
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