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• The Series 2008 Bond initially issued shall bear interest from its date;provided,that the date <br /> of each Advance under such Bond shall be the interest commencement date from which the principal <br /> amount of such Advance bears interest. Series 2008 Bonds issued on the Completion Date and prior <br /> to the next Interest Payment Date shall bear interest from the Completion Date, and Series 2008 <br /> Bonds issued thereafter shall bear interest from the Interest Payment Date next preceding the date <br /> of authentication and delivery thereofby the Trustee,unless such date of authentication and delivery <br /> shall be an Interest Payment Date, in which case they shall bear interest from such date of <br /> authentication and delivery, or unless such date of authentication and delivery shall be during the <br /> period from the Record Date to the next Interest Payment Date,in which case they shall bear interest <br /> from such Interest Payment Date;provided,however,that if,as shown by the records of the Trustee, <br /> interest on any Series 2008 Bonds surrendered for transfer or exchange shall be in default,the Series <br /> 2008 Bonds issued in exchange for Series 2008 Bonds surrendered for transfer or exchange shall <br /> bear interest from the date to which interest has been paid in full on the Series 2008 Bonds <br /> surrendered. Interest shall be computed on the basis of a year of three hundred sixty (360) days <br /> consisting of twelve 30-day months. <br /> Section 203. Form. The Series 2008 Bond originally issued and delivered shall be <br /> substantially in the form set forth in Exhibit A attached hereto, with appropriate variations, <br /> omissions and insertions as permitted or required by this Indenture. The Series 2008 Bonds issued <br /> and delivered on and after the Completion Date shall be substantially in the form set forth in Exhibit <br /> B attached hereto, with such appropriate variations, omissions and insertions as are permitted or <br /> required by this Indenture. <br /> ® Section 204. Payment. The principal of the Bonds shall be paid upon the presentation and <br /> surrender of said Bonds at the principal corporate trust office of the Trustee. The interest on the <br /> Bonds shall be payable by check or draft drawn upon the Trustee and mailed to or, at the option of <br /> the owners of Bonds in the aggregate principal amount of not less than$1,000,000,transmitted by <br /> wire transfer to the registered owners as of the close of business on the Record Date next preceding <br /> the Interest Payment Date at their respective addresses as such appear as of the close of business on <br /> such Record Date on the bond registration books kept by the Trustee,or in connection with any wire <br /> transfer to the bank account number previously filed by the owner with the Trustee for such purpose, <br /> except that if and to the extent that there shall be a default in the payment of the interest due on such <br /> Interest Payment Date, such defaulted interest shall be paid to the owners in whose name any such <br /> Bonds (or any Bond or Bonds issued upon transfer or exchange thereof) are registered at the close <br /> of business on the fifth Business Day next preceding'the date of payment of such defaulted interest. <br /> All payments shall be made in lawful money of the United States of America. <br /> Section 205. Execution. The Bonds shall be executed on behalf of the Issuer by the manual <br /> or facsimile signatures of the Mayor and the Clerk and shall have impressed or imprinted thereon <br /> the corporate seal of the Issuer. A facsimile signature shall have the same force and effect as if <br /> personally signed. In case any officer whose signature or facsimile of whose signature shall appear <br /> on the Bonds shall cease to be such officer before the,delivery of such Bonds,such signature or such <br /> 8 <br />