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ARTICLE II
<br /> THE BONDS
<br /> Section 2.01. Authorization of Bonds. The Authority hereby authorizes the issuance of
<br /> the Bonds, which shall constitute special obligations of the Authority, for the purpose of
<br /> providing funds to provide funding for the Project. The Bonds are hereby designated the
<br /> "Countywide Public Financing Authority 1996 Revenue Bonds." The aggregate principal amount
<br /> of Bonds initially issued and Outstanding under this Indenture shall equal twenty-seven million
<br /> seven hundred twenty-five thousand dollars ($27,725,000). The principal amounts allocable to
<br /> each Member is set forth in Exhibit D attached hereto. This Indenture constitutes a continuing
<br /> agreement with the Trustee and the Owners from time to time of the Bonds to secure the full
<br /> payment of the principal of and interest and premium (if any) on all the Bonds, subject to the
<br /> covenants,provisions and conditions herein contained.
<br /> Section 2.02. Terms of the Bonds. The Bonds shall be issued in fully registered form
<br /> without coupons in denominations of $5,000 or any integral multiple thereof, so long as no
<br /> Bond shall have more than one maturity date. The Bonds shall mature on August 1 in each of
<br /> the years and in the amounts, and shall bear interest (calculated on the basis of a 360-day year
<br /> of twelve 30-day months) at the rates, as follows:
<br /> Maturity Date Principal Interest Maturity Date Principal Interest
<br /> (August 1) Amount Rate (August 1) Amount Rate
<br /> 1997 $2,025,000 4.10% 2005 $2,905,000 5.25%
<br /> 1998 2,115,000 4.10 2006 3,060,000 5.30
<br /> 1999 2,200,000 4.30 2007 500,000 5.40
<br /> 2000 2,300,000 4.60 2008 530,000 5.50
<br /> 2001 2,405,000 4.75 2009 560,000 5.60
<br /> 2002 2,515,000 4.90 2010 585,000 5.70
<br /> 2003 2,640,000 5.00 2011 620,000 5.75
<br /> 2004 2,765,000 5.10
<br /> Interest on the Bonds shall be payable semiannually on each Interest Payment Date,
<br /> calculated based on a 360-day year of twelve (12) thirty-day months, to the person whose
<br /> name appears on the Registration Books as the Owner thereof as of the Record Date
<br /> immediately preceding each such Interest Payment Date,such interest to be paid by check of the
<br /> Trustee mailed by first class mail to the Owners at the respective addresses of such Owners as
<br /> they appear on the Registration Books; provided however, that payment of interest may be by
<br /> wire transfer in immediately available funds to an account in the United States of America to
<br /> any Owner of Bonds in the aggregate principal amount of$1,000,000 or more who shall furnish
<br /> written wire instructions to the Trustee at least five (5) days before the applicable Record Date. _
<br /> Principal of any Bond and any premium upon redemption shall be paid by check of the Trustee
<br /> upon presentation and surrender thereof at the Office of the Trustee, except as provided in
<br /> Section 2.04. Principal of and interest and premium (if any) on the Bonds shall be payable in
<br /> lawful money of the United States of America.
<br /> Each Bond shall be dated as of the date of authentication thereof and shall bear interest
<br /> from the Interest Payment Date next preceding the date of authentication thereof,unless (a) it is
<br /> authenticated after a Record Date and on or before the following Interest Payment Date, in
<br /> which event it shall bear interest from such Interest Payment Date, or (b) unless it is
<br /> authenticated on or before January 15, 1997, in which event it shall bear interest from the
<br /> Closing Date; provided, however, that if, as of the date of authentication of any Bond, interest
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