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<br />-23- <br />SECTION 4.03. Notice of Redemption. The Trustee shall mail notice of redemption of <br />the Bonds by first class mail, postage prepaid, not less than 20 nor more than 60 days before <br />any redemption date, to the respective Owners of any Bonds designated for redemption at their <br />addresses appearing on the Bond Registration Books and to one or more Securities <br />Depositories and to the Information Services. Each notice of redemption shall state the date of <br />the notice, the redemption date, the place or places of redemption, whether less than all of the <br />Bonds (or all Bonds of a single maturity) are to be redeemed, the CUSIP numbers and (in the <br />event that not all Bonds within a maturity are called for redemption) Bond numbers of the Bonds <br />to be redeemed and the maturity or maturities of the Bonds to be redeemed, and in the case of <br />Bonds to be redeemed in part only, the respective portions of the principal amount thereof to be <br />redeemed. Each such notice shall also state that on the redemption date there will become due <br />and payable on each of said Bonds the redemption price thereof, and that from and after such <br />redemption date interest thereon shall cease to accrue, and shall require that such Bonds be <br />then surrendered. Each notice relating to a redemption pursuant to Section 4.01(a) or Section <br />4.01(b) shall further state that such redemption may be rescinded by the Authority on or prior to <br />the date set for redemption. Neither the failure to receive any notice nor any defect therein shall <br />affect the sufficiency of the proceedings for such redemption or the cessation of accrual of <br />interest from and after the redemption date. Notice of redemption of Bonds shall be given by <br />the Trustee, at the expense of the Authority, for and on behalf of the Authority. <br /> <br />The Authority shall have the right to rescind any redemption pursuant to Section 4.01(a) <br />or Section 4.01(b) by written notice to the Trustee on or prior to the date fixed for redemption. <br />Any notice of redemption shall be cancelled and annulled if for any reason funds are not <br />available on the date fixed for redemption for the payment in full of the Bonds then called for <br />redemption, and such cancellation shall not constitute an Event of Default hereunder. The <br />Trustee shall mail notice of rescission of redemption in the same manner notice of redemption <br />was originally provided. <br /> <br />SECTION 4.04. Execution of New Bonds Upon Partial Redemption of Bonds. Upon <br />surrender of any Bonds redeemed in part only, the Authority shall execute and the Trustee shall <br />authenticate and deliver to the Owner thereof, at the expense of the Authority, a new Bond or <br />Bonds of authorized denominations equal in aggregate principal amount to the unredeemed <br />portion of the Bonds surrendered. <br /> <br />SECTION 4.05. Effect of Redemption. Notice of redemption having been duly given as <br />aforesaid, and moneys for payment of the redemption price of, together with interest accrued to <br />the date fixed for redemption on, including any applicable premium, the Bonds (or portions <br />thereof) so called for redemption being held by the Trustee, on the redemption date designated <br />in such notice, the Bonds (or portions thereof) so called for redemption shall become due and <br />payable, interest on the Bonds so called for redemption shall cease to accrue, said Bonds (or <br />portions thereof) shall cease to be entitled to any benefit or security under this Indenture, and <br />the Owners of said Bonds shall have no rights in respect thereof except to receive payment of <br />the redemption price thereof. <br /> <br />All Bonds redeemed under the provisions of this Article shall be canceled by the Trustee <br />upon surrender thereof and destroyed in accordance with the retention policy of the Trustee <br />then in effect. <br /> <br />Page 39 of 205