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<br />respective maturities thereof shaH be payable on March I, 2007 (or such other date as is <br /> <br />designated by the County Manager or Finance Officer in connection with the sale of the Bonds) <br /> <br />and semiannuaHy thereafter on September 1 and March 1 of each year (or other semiannual dates <br /> <br />designated by the County Manager or Finance Officer in connection with the sale of the Bonds) <br /> <br />until payment of such principal sum. <br /> <br />Section 3. Each Bond shaH bear interest from the interest payment date next preceding <br /> <br />the date on which it is authenticated unless it is (a) authenticated upon an interest payment date <br /> <br />in which event it shaH bear interest from such interest payment date or (b) authenticated prior to <br /> <br />the fIrst interest payment date in which event it shaH bear interest from its date; provided, <br /> <br />however, that if at the time of authentication interest is in default, such Bond shaH bear interest <br /> <br />from the date to which interest has been paid. <br /> <br />The principal of and the interest and any redemption premium on the Bonds shaH be <br /> <br />payable in any coin or currency of the United States of America which is legal tender for the <br /> <br />payment of public and private debts on the respective dates of payment thereof. <br /> <br />Section 4. The Bonds initiaHy will be issued by means of a book-entry system with no <br /> <br />physical distribution of Bond certifIcates to be made except as hereinafter provided. InitiaHy one <br /> <br />fuHy registered Bond certifIcate for each stated maturity of the Bonds for each designation, in the <br /> <br />aggregate principal amount of the Bonds of such stated maturity and registered in the name of <br /> <br />the Securities Depository Nominee (defmed below), a nominee of the Securities Depository <br /> <br />(defIned below), will be issued and required to be deposited with the Securities Depository and <br /> <br />immobilized in its custody. The book-entry system of the Securities Depository will evidence <br /> <br />positions held in the Bonds by the Securities Depository's participants, with benefIcial <br /> <br />ownership of the Bonds in the principal amount of $5,000 or any whole multiple thereof being <br />3 <br /> <br />F-5 <br />