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3 <br />4854-7635-7637.1 <br />2037 530,000 <br />2038 540,000 <br />2039 555,000 <br />2040 570,000 <br />2041 585,000 <br />2042 <br />2043 <br />2044 <br />2045 <br />2046 <br />2047 <br />2048 <br />2049 <br />2050 <br />2051 <br />600,000 <br />615,000 <br />630,000 <br />650,000 <br />670,000 <br />685,000 <br />705,000 <br />725,000 <br />750,000 <br />770,000 <br /> <br /> <br />The Bonds shall be issuable only in fully registered form. Interest shall be computed on the <br />basis of a 360-day year composed of twelve 30-day months. The interest thereon and, upon <br />surrender of each Bond, the principal amount thereof, shall be paid by check or draft issued by <br />Bond Trust Services Corporation (the “Paying Agent”) described herein; provided, however, that <br />so long as the Bonds are registered in the name of a securities depository, or a nominee thereof, in <br />accordance with Section 2.08 hereof, the principal of and the interest on the Bonds shall be paid <br />in accordance with the operational arrangements of the securities depository. <br /> <br />2.03. Dates and Interest Payments. Upon initial delivery of the Bonds pursuant to <br />Section 2.07 hereof and upon any subsequent transfer or exchange pursuant to Section 2.06 hereof, <br />the date of authentication shall be noted on each Bond so delivered, exchanged or transferred. The <br />interest on the Bonds shall be payable on December 20 and June 20 (each, an “Interest Payment <br />Date”), commencing December 20, 2022, to the owners of record thereof as of the close of <br />business on the fifth day of that month, whether or not such day is a business day the (“Record <br />Date”). <br /> <br />If any payments of interest due on the Bonds on an Interest Payment Date are not timely <br />made, such interest shall cease to be payable to the registered owners as of the Record Date for <br />such Interest Payment Date and shall be payable to the registered owners of the Bonds as of a <br />special date of record for payment of such defaulted interest as shall be designated by the Registrar <br />whenever monies for the purpose of paying such defaulted interest becomes available. <br /> <br />If the date for payment of the principal of or the interest on the Bonds shall be a Saturday, <br />Sunday, legal holiday or day on which banking institutions in the city in which the principal <br />corporate trust office of the Registrar is located are authorized by law or executive order to close, <br />the date for such payment shall be the next succeeding day which is not a Saturday, Sunday, legal <br />holiday or day on which such banking institutions are authorized to close, and payment on such <br />day shall have the same force and effect as if made on the nominal payment date. <br /> <br />2.04. Redemption.