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ARTICLE III <br /> ISSUANCE OF ADDITIONAL BONDS <br /> SECTION 3 01 Conditions for the Issuance of Additional Bonds The <br /> Authority may at any time issue Additional Bonds payable from the Revenues as provided herein <br /> and secured by a pledge of and charge and lien upon the Revenues as provided herein equal to <br /> the pledge, charge and hen securing the Outstanding Bonds theretofore issued hereunder, but <br /> only subject to the following specific conditions, which are hereby made conditions precedent to <br /> the issuance of any such Additional Bonds <br /> (a) The Authority shall be in compliance with all agreements and covenants <br /> contained herein <br /> (b) The issuance of such Additional Bonds shall have been authonzed <br /> pursuant to the Act and shall have been provided for by Supplemental Trust Agreement <br /> which shall specify the following <br /> (1) The purpose for which such Additional Bonds are to be issued, <br /> provided that such Additional Bonds shall be applied solely for(i)the purpose of <br /> financing the completion of the Project or an Additional Project, including <br /> payment of all costs incidental to or connected with such financing, or(n)the <br /> purpose of refunding any Bonds then Outstanding, including payment of all costs <br /> incidental to or connected with such refunding, <br /> (2) The authorized principal amount and designation of such <br /> Additional Bonds, <br /> (3) The date and the maturity dates of and the sinking fund payment <br /> dates, if any, for such Additional Bonds, provided that(i) each maturity date shall <br /> fall upon February 1, (u) all such Additional Bonds of like maturity shall be <br /> identical in all respects, except as to number and denomination, (iii) sepal <br /> maturities for Serial Bonds or sinking fund payments for Term Bonds, or any <br /> combination thereof, shall be established to provide for the retirement of such <br /> Additional Bonds on or before their respective maturity dates, and(iv) the Annual <br /> Debt Service for each Fiscal Year after the issuance of such Additional Bonds <br /> shall be as nearly equal as practicable, <br /> (4) The interest payment date for such Additional Bonds, provided <br /> that the first interest payment date shall be on February 1 or August 1 following <br /> the date of such Additional Bonds and subsequent interest payment dates shall be <br /> on February 1 and August 1 of each year; <br /> (5) The denomination or denominations of and method of numbering <br /> such Additional Bonds, <br /> -14- <br /> 2762680 2 <br />