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General <br /> Series 2001 Bonds are being issued as of the date of delivery and in the aggregate <br /> principal amount of$7,825,000*of Series 2001A Bonds,$210,000*of Series 2001B Bonds <br /> and $250,000* of Subordinate Bonds, and with the maturities and annual interest rates set <br /> forth on the cover hereof. Interest will be payable semiannually on each May 1 and <br /> November 1 (each an"Interest Payment Date"),commencing May 1,2002,calculated on the <br /> basis of a 360-day year with twelve months of thirty days. Interest will compound on May <br /> 1 and each Interest Payment Date thereafter. <br /> The Series 2001 Bonds will be delivered in fully registered form only and, when <br /> issued, will be registered in the name of Cede & Co., as nominee of The Depository Trust <br /> Company, New York, New York ("DTC"). DTC will act as securities depository for the <br /> Series 2001 Bonds. Ownership interests in the Series 2001 Bonds may be purchased in <br /> book-entry form only in denominations of$5,000 or multiples thereof (See "THE SERIES <br /> 2001 BONDS - Book-Entry Only System" herein.) <br /> Redemption Prior to Maturity <br /> Mandatory Sinking Fund Redemption. In connection with the Mandatory Tender <br /> Date, the Remarketing Agent shall establish a schedule for mandatory sinking fund <br /> redemption payments such that the scheduled annual debt service on the Series 2001 Tax- <br /> Exempt Bonds throughout the remaining term of the Series 2001 Tax-Exempt Bonds will be <br /> approximately level,taking into account the interest rate to go into effect on the Mandatory <br /> Tender Date. <br /> The Series 2001B Bonds are subject to mandatory sinking fund redemption,in part, <br /> on the dates and in the principal amounts set forth below at the principal amount thereof plus <br /> accrued interest and without premium: <br /> Series 2001B Bonds Maturing November 1, 2006 <br /> Redemption Date Sinking Fund Redemption Date Sinking Fund <br /> Principal Amount Principal <br /> Amount2004 <br /> $85,000 2006* $30,000 <br /> 2005 95,000 <br /> *Stated Maturity. <br /> Optional Redemption. On and after November 1,2006,all Series 2001 Tax-Exempt <br /> Bonds, subject to the priority discussed below, are subject to redemption and prepayment <br /> prior to maturity upon request of the Borrower and deposit of funds therefor, in whole or in <br /> part on any Business Day and, if in part, from such stated maturities in principal amounts <br />