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<br />. <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />Section 9. Registration and Exchange of Bonds, The Bonds <br />shall be issued only in fully registered form, Fully <br />registered Bonds may be exchanged for other Bonds of equal <br />aggregate denominations, Transfer of ownership of a Bond or <br />Bonds shall be made by exchanging the same for a new Bond or <br />Bonds. All exchanges shall be made in such a manner and upon <br />such reasonable terms and conditions as may be determined and <br />prescribed by the Agency and the Fiscal Agent. The person, <br />firm or corporation requesting the exchange shall pay any tax <br />or governmental charge that may be imposed in connection with <br />the exchange. Each Bond issued pursuant to this Resolution <br />shall be of a denomination which is $5,000 or a whole multiple <br />thereof and shall be of the same maturity, <br /> <br />Section 10, Bond Register. The Fiscal Agent will keep at <br />its principal office in the City of Los Angeles, California, or <br />at such other place in California as the Agency may approve, <br />sufficient books for the registration and transfer of the <br />Bonds, The books shall at all times during reasonable business <br />hours be open to inspection by the Bond Insurer and the Agency; <br />and, upon presentation for such purpose, the Fiscal Agent shall <br />under such reasonable regulations as it may prescribe, register <br />or transfer, or cause to be registered or transferred, on the <br />register, the Bonds as hereinbefore provided. <br /> <br />Section 11, Call and Redemption and Purchase of Bonds <br />Prior to Maturity, The Bonds maturing on or before December 1, <br />1996, are not subject to call and redemption prior to maturity, <br /> <br />A. Optional Redemption. The Bonds maturing on or after <br />December l, 1997, may be called before maturity and redeemed at <br />the option of the Agency, in whole from the proceeds of <br />refunding bonds and other available funds, or in whole or in <br />part from any other source of funds, on December 1, 1996 or on <br />any interest payment date thereafter, prior to maturity, in <br />inverse order of maturity and by lot within any maturity. The <br />interest payment date on which Bonds are to be presented for <br />redemption is sometimes referred to as the "redemption date," <br />Bonds called for redemption shall be redeemed at the redemption <br />prices (expressed as a percentage of the principal amount of <br />Bonds to be redeemed) plus accrued interest to the redemption <br />date as shown in the following table: <br /> <br />Redemption Dates <br /> <br />Redemption Price <br /> <br />December 1, <br />December 1, <br />December 1, <br />December 1, <br />December 1, <br /> <br />1996 <br />1997 <br />1998 <br />1999 <br />2000 <br /> <br />or June 1, 1997 <br />or June 1, 1998 <br />or June 1, 1999 <br />or June 1, 2000 <br />and thereafter <br /> <br />102 % <br />101 1/2% <br />101 % <br />100 1/2% <br />100 % <br /> <br />05-23-86 <br />1665k/2281/06 <br /> <br />-10- <br />