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<br />Interest Payment Date, in which event such interest is payable from such date of authentication,
<br />and unless said date of authentication is prior to October 1, 2024, in which event such interest is
<br />payable from the Closing Date; provided, however, that if, as of the date of authentication of any
<br />2024 Bond, interest thereon is in default, such 2024 Bond will bear interest from the date to
<br />which interest has previously been paid or made available for payment thereon in full.
<br />
<br />Record Date. The Indenture defines the “Record Date” for the 2024 Bonds as the 15th
<br />calendar day of the month preceding an Interest Payment Date.
<br />
<br />Book-Entry Only System. The 2024 Bonds will be registered in the name of Cede &
<br />Co., as nominee of the Depository Trust Company (“DTC”), New York, New York, as the initial
<br />securities depository for the 2024 Bonds. Ownership interests in the 2024 Bonds may be
<br />purchased in book-entry form only. Purchasers of the 2024 Bonds will not receive physical
<br />bonds representing their ownership interests in the 2024 Bonds purchased.
<br />
<br />Principal and interest payments with respect to the 2024 Bonds are payable directly to
<br />DTC by the Trustee. Upon receipt of payments of principal and interest, DTC will in turn
<br />distribute such payments to the beneficial owners of the 2024 Bonds. See “APPENDIX F –
<br />DTC and the Book-Entry Only System.”
<br />
<br />So long as the 2024 Bonds are registered in the name of Cede & Co., as nominee of
<br />DTC, references in this Official Statement to the “owners” mean Cede & Co., and not the
<br />purchasers or Beneficial Owners of the 2024 Bonds. See “APPENDIX F – DTC and the Book-
<br />Entry Only System.”
<br />
<br />Redemption *
<br />
<br />Optional Redemption. The 2024 Bonds maturing on or before April 1, 20__, are not
<br />subject to optional redemption prior to their respective stated maturity dates. The 2024 Bonds
<br />maturing on or after April 1, 20__, are subject to redemption in whole, or in part at the Written
<br />Request of the Authority among maturities on such basis as the Authority may designate and by
<br />lot within a maturity, at the option of the Authority, on any date on or after April 1, 20__, from
<br />any available source of funds, at a redemption price equal to the principal amount of the 2024
<br />Bonds to be redeemed, plus accrued interest to the date of redemption, without premium
<br />
<br />Special Mandatory Redemption from Insurance and Sale Proceeds. The 2024
<br />Bonds are subject to mandatory redemption, on any date, in whole, or in part on a pro rata basis
<br />among maturities, from the net proceeds of insurance, sale or condemnation credited towards
<br />the prepayment of the Installment Payments by the City under the Installment Sale Agreement,
<br />at a redemption price equal to the principal amount represented thereby to be prepaid, without
<br />premium, together with accrued interest represented thereby to the redemption date.
<br />
<br />Mandatory Sinking Fund Redemption. The 2024 Bonds maturing on April 1, 20__ and
<br />April 1, 20__ (the “2024 Term Bonds”) are also subject to redemption, by lot, on April 1 in each
<br />of the years as set forth in the following tables, from deposits made for such purpose pursuant
<br />to the Indenture, at a redemption price equal to the principal amount thereof to be redeemed
<br />together with accrued interest thereon to the redemption date, without premium, or in lieu
<br />thereof may be purchased, in the aggregate respective principal amounts and on the respective
<br />dates as set forth in the following tables; provided, however, that if some but not all of the 2024
<br />
<br />* Preliminary; subject to change.
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