BCRUA_R-09-06-03-6A of this Resolution, whether or not such Bond shall be overdue, and,to the extent permitted by law, the
Board and the Paying Agent/Registrar shall not be affected by any notice to the contrary,and payment of,
or on account of,the principal of,premium, if any, and interest on any such Bond shall be made only to
such Registered Owner. All such payments shall be valid and effectual to satisfy and discharge the liability
upon such Bond to the extent of the sum or sums so paid.
(d)Payment of Bonds and Interest The Paying Agent/Registrar shall further act as the paying
agent for paying the principal of, premium, if any, and interest on the Bonds, alI as provided in this
Resolution.The Paying Agent/Registrar shall keep proper records of all payments made by the Board and
the Paying Agent/Registrar with respect to the Bonds.
(e)Authendcation. The Bonds initially issued and delivered pursuant to this Resolution shall be
authenticated by the Paying Agent/Registrar by execution of the Paying Agmt/Registrar's Authentication
Certificate unless they have been approved by the Attorney General of the State and registered by the
Comptroller of Public Accounts of the State,and on each substitute Bond issued in exchange for any Bond
or Bonds issued under this Resolution the Paying Agent/Registrar shall execute the PAYING
AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE(the"Authentication Certificate"). The
Authentication Certificate shall be in the form set forth in the FORM OF BOND in Exhibit"C" attached
hereto.
(f) Transfer, Exchange, or Replacement Each Bond issued and delivered pursuant to this
Resolution,to the extent of the unpaid or unredeemed principal amount thereof, may, upon surrender of
such Bond at the Designated Trust Office of the Paying Agent/Registrar,together with a written request
therefor duly executed by the Registered Owner or the assignee or assignees thereof,or its or their duly
authorized attorneys or representatives, with guarantee of signatures satisfactory to the Paying
Agent/Registrar,may,at the option of the Registered Owner or such assignee or assignees,as appropriate,
be exchanged for fully registered Bonds, without interest coupons, in the appropriate form prescribed in
the FORM OF BOND set forth in Exhibit"C"to this Resolution,in any Authorized Denomination(subject
to the requirement hereinafter stated that each substitute Bond shall be of the same Series and have a single
stated maturity date),as requested in writing by such Registered Owner or such assignee or assignees,in
an aggregate principal amount equal to the unpaid or unredeemed principal amount of any Bond or B onds
so surrendered,and payable to the appropriate Registered Owner,assignee, or assignees,as the case may
be_ If a portion of any Bond shall be redeemed prior to its scheduled maturity as provided herein, a
substitute Bond or Bonds having the same series designation and maturity date,bearing interest at the same
rate, and payable in the same manner, in Authorized Denominations at the request of the Registered
Owner, and in aggregate principal amount equal to the unredeemed portion thereof,will be issued to the
Registered Owner upon surrender thereof for cancellation. If any Bond or portion thereof is assigned and
transferred,each Bond issued in exchange therefor shall have the same series designation and maturity date
and bear interest at the same rate and payable in the same manner as the Bond for which it is being
exchanged. Each substitute Bond shall bear a letter and/or number to distinguish it from each other Bond.
The Paying Agent/Registrar shall exchange or replace Bonds as provided herein,and each My registered
Bond delivered in exchange for or replacement of any Bond or portion thereof as permitted or required
by any provision of this Resolution shall constitute one of the Bonds for all purposes of this Resolution,
and may again be exchanged or replaced.On each substitute Bond issued in exchange for or replacement
&CRUA:CP1 CRdB ds08 5
each Paying Agent/Registrar shall be deemed to have agreed to the provisions of this Resolution, and a
certified copy of this Resolution shall be delivered to each Paying Agent/Registrar.
(h) Book-Enby-Only System The Bonds issued in exchange for the Bonds initially issued and
delivered to the Purchaser shall be issued in the form of a separate single fully registered Bond for each of
the maturities thereof registered in the name of Cede&Co.,as nominee of DTC,and except as provided
in subsection(i) hereof all of the Outstanding Bonds shall be registered in the name of Cede & Co., as
nominee of DTC. With respect to Bonds registered in the name of Cede&Co.,as nominee of DTC,the
Board and the Paying Agent/Registrar shall have no responsibility or obligation to any DTC Participant
or to any person on behalf of whom such a DTC Participant holds an interest on the Bonds. Without
Uniting the immediately preceding sentence, the Board and the Paying Agent/Registrar shall have no
responsibility or obligation with respect to(i)the accuracy ofthe records ofDTC,Cede&Co.or any DTC
Participant with respect to any ownership interest in the Bonds, (ii)the delivery to any DTC Participant
or any other person, other than a Registered Owner, as shown on the Registration Books,of any notice
with respect to the Bonds,including any notice of redemption,or(iii)the payment to any DTC Participant
or any other person, other than a Registered Owner, as shown in the Registration Books of any amount
with respect to principal of,premium,if any,or interest on the Bonds.Notwithstanding any other provision
of this Resolution to the contrary but to the extent permitted by law, the Board and the Paying
Agent/Registrar shall be entitled to treat and consider the person in whose name each Bond is registered
in the Registration Books as the absolute owner of such Bond for the purpose of payment of principal,
premium,if any,and interest,with respect to such Bond,for the purpose of giving notices of redemption
and other matters with respect to such Bond,for the purpose of registering transfers with respect to such
Bond, and for all other purposes whatsoever. The Paying Agent/Registrar shall pay all principal of,
premium,if any, and interest on the Bonds only to or upon the order of the respective Registered Owners,
as shown in the Registration Books as provided in this Resolution, or their respective attorneys duly
authorized in writing,and all such payments shall be valid and effective to fully satisfy and discharge the
Board's obligations with respect to payment of principal of,premium,if any,and interest on the Bonds to
the extent of the sum or sums so paid. No person other than an Registered Owner, as shown in the
Registration Books, shall receive a Bond certificate evidencing the obligation of the Board to make
payments of principal, premium, if any, and interest pursuant to this Resolution_ Upon delivery by DTC
to the Paying Agent/Registrar of written notice to the effect that DTC has determined to substitute a new
nominee in place of Cede&Co., and subject to the provisions in this Resolution with respect to interest
checks being mailed to the Registered Owner at the close ofbusiness on the Record Date,the word"Cede
& Co." in this Resolution shall refer to such new nominee of DTC.
(i)Successor Securities Depository, Transfers Outside Book-Entry-Only System In the event
that the Board or the Paying Agent/Registrar determines that DTC is incapable of discharging its
responsibilities described herein and in the representation letter of the Board to DTC (as described in
Section 35 of this Resolution)or DTC determines to discontinue providing its services with respect to the
Bonds,the Board shall(i)appoint a successor securities depository,qualified to act as such under Section
17A of the Securities and Exchange Act of 1934,as amended, notify DTC and DTC Participants of the
appointment of such successor securities depository and transfer one or more separate Bonds to such
successor securities depository or(ii)notify DTC and DTC Participants of the availability through DTC
of Bonds and transfer one or more separate Bonds to DTC Participants having Bonds credited to their
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