2001-049-ORD AUTHORIZING ISSUANCE, SALE AND DELIVERY OF COP TAX ADN REVENUE REFUNDING BONDS SERIES 2001

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convert and exchange or replace Bonds, all as provided in this Ordinance. The Paying AgentlRegistrar shall keep proper records of all payments made by the Issuer and the Paying AgentlRegistrar with respect 10 the Bonds, and of all conversions and exchanges of Bonds, and all replacements of Bonds, as provided in this Ordinance. However, in the event of a nonpayment of interest on a scheduled payment date, and for thirty (30) days thereafter, a new record date for such interest paymenl (a "Special Record Date") will be established by the Paying AgentlRegislrar, if and when funds for the payment of such interest have been received from the Issuer. NOlice of the Special Record Date and of the scheduled payment date of the past due interest (which shall be 15 days after the Special Record Date) shall be sent at least five (5) business days prior to the Special Record Date by United States mail, first class poslage prepaid, 10 the address of each Bondholder appearing on the Registration Books at Ihe close of business on the last business day next preceding the date of mailing of such notice. (d) Conversion and Exchan\(e or R<:placement. Authentication. Each Bond issued and delivered pursuant to this Ordinance, to the extent of the unpaid principal balance or principal amount thereof, may, upon surrender of such Bond at the principal corporate trust office of the Paying AgentlRegistrar, together with a written requesl therefor duly executed by the registered owner or the assignee or assignees thereof, or its or their duly authorized attorneys or representatives, with guarantee of signatures satisfactory to the Paying Agent/Registrar, may, at the option of the registered owner or such assignee or assignees, as appropriate, be converted into and exchanged for fully regislered bonds, without interest coupons, in the fonn prescribed in the FORM OF SUBSTITUTE BOND set forth in this Ordinance, in the denominalion of$5,000, or any integral multiple of$5,000 (subject to the requirement hereinafter stated that each substitute Bond shall have a single stated maturity date), as requested in writing by such registered owner or such assignee or assignees, in an aggregate principal amount equal to the unpaid or unredeemed principal balance or principal amount of any Bond or Bonds so surrendered, and payable 10 the appropriate regislered owner, assignee, or assignees, as the case may be. If the Initial Bond is assigned and transferred or converted each substitute Bond issued in exchange for any portion of the Initial Bond shall have a single slated principal maturity date, and shall not be payable in installments; and each such Bond shall have a principal maturity date corresponding to the due date of the installment of principal or portion thereof for which the subslitute Bond is being exchanged; and each such Bond shall bear interesl at the single rate applicable 10 and borne by such installment of principal or portion thereof for which it is being exchanged. If any Bond or portion thereof (other than the Initial Bond) is assigned and transferred or converted, each Bond issued in exchange therefor shall have the same principal maturity date and bear interest at the same rate as the Bond for which it is being exchanged. Each substitute Bond shall bear a letter and/or number to distinguish it from each other Bond. The Paying Agent/Registrar shall convert and exchange or replace Bonds as provided herein, and each fully registered bond delivered in conversion of and exchange for or replacement of any Bond or portion thereof as pernUtted or required by any provision of this Ordinance shall constitule one of the Bonds for all purposes of this Ordinance, and may again be converted and exchanged or replaced. It is specifically provided that any Bond authenticaled in conversion of and exchange for or replacement of another Bond on or prior to the first scheduled Record Date for the Initial Bond shall bear interest from the date of the Initial Bond, bul each substitute Bond so authenticated after such first scheduled Record Date shall bear interesl from the interest payment dale next preceding the date on which such substitute Bond was so authenticated, unless such Bond is authenticated after any Record Date but on or before the next following interest payment date, in which case il shall bear interest from such next following interest payment dale; provided, however, thaI if at the time of delivery of any substitule Bond the inleresl on the Bond for which il is being exchanged is due bul has not been paid, then such Bond shall bear interest from the dale to which such interest has been paid in full. THE INITIAL BOND issued and delivered pursuant 10 this Ordinance is not required to be, and shall not be, 9