Agenda - 11-16-1993 - VIII-A (2)

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accrued interest to the date fixed for redemption, without premium, in the amount of $200,000 on December 1, 1994. Section 3.04. Call and Redemption;Notice of Redemption. The Corporation may by resolution direct the call and optional redemption of Bonds by the Paying Agent in such amounts as there are funds available for use in the Bond Fund and shall give notice to the Paying Agent of the redemption at least 60 days before the redemption date. Notice of redemption prior to maturity shall be given by Mail not less than 30 nor more than 60 days before the date of redemption; (i) to the original purchaser(s) of the Bonds and (ii) to each Owner at the address shown on the registration books of the Registrar. Neither the failure to mail the notice nor any defect in any notices mailed shall affect the sufficiency of the proceedings for the redemption of any Bonds as to which no such defect or failure occurred. The notice of redemption shall (a) state the redemption date; (b)state the redemption price; (c)state the numbers of the Bonds to be redeemed unless all of the outstanding Bonds are redeemed; (d)state, as to any Bonds redeemed in part only, the numbers of the Bonds and the principal portion thereof to be redeemed; and (e) state that interest on the principal portion of the Bonds designated for redemption shall cease to accrue from and after the redemption date and that on the redemption date there shall become due and payable on each of such Bonds the redemption price for each Bond. The actual receipt by any Owner of notice of redemption is not a condition precedent to redemption,and failure to receive notice does not affect the validity of the proceedings for the redemption of the Bonds or the cessation of interest on the redemption date. Notice of redemption of Bonds shall be given by the Paying Agent on behalf of the Corporation at the expense of the Corporation. A certificate by the Paying Agent that notice of redemption has been given in accordance with this Indenture is conclusive as against all parties, and no Owner whose Bond is called for redemption may object to the redemption or the cessation of interest on the date of redemption by claiming or showing that it failed to receive actual notice of call and redemption. Section 3.05. Redemption Deposit. Before the mailing of notice as required above, the Paying Agent shall set aside and hold in trust within the Bond Fund, money for the purpose of and sufficient to redeem, at the premiums, if any,payable as provided in this Indenture,the Bonds designated in the notice of redemption. The Paying Agent shall apply the balance (i) on or after the date of redemption, to the payment of the Bonds to be redeemed upon presentation and surrender of the Bonds or (ii) to Bonds called for redemption but purchased by the Paying Agent under Section 3.08, or(iii)to the principal of or interest on Bonds not called for redemption to the extent the remaining amounts exceed the amounts necessary for payment of the Bonds called for redemption and not surrendered. Section 3.06. Partial Redemption of Bonds;Selection of Bonds for Redemption. On surrender of any Bond redeemed in part only,the Corporation shall execute and the Paying Agent shall authenticate and deliver to such Owner, at the expense of the Corporation, a new Bond or Bonds of Authorized Denominations and of the same series equal in aggregate principal amount to the unredeemed portion of the Bond surrendered and of the same interest rate and same maturity. Whenever less than all of the outstanding Bonds maturing on any one date are called for redemption at any one time, the Bonds to be redeemed shall be selected from the outstanding Bonds by the Corporation and within maturity by lot as the Paying Agent may determine. 16