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PURPOSE OF THE SERIES 2001 BONDS The Series 2001 Bonds are being issued by the County to provide fiords, together with other available funds,to(i)finance a portion of the cost of acquisition and expansion of a spring training facility known as "Dodgertown; (ii) pay a premium for a municipal bond insurance policy and a debt service reserve account surety bond, and (iii) pay certain costs and expenses incurred in connection with the issuance of the Series 2001 Bonds,all as more particularly described herein. DESCRIPTION OF THE SERIES 2001 BONDS General The Series 2001 Bonds will be dated August 1,2001, and will bear interest from such date at the rates per annum as set forth on the cover page hereof, payable on April 1, 2002, and semiannually thereafter on each April 1 and October 1 and will mature on April l in the years and principal amounts as set forth on the cover page hereof. The Series 2001 Bonds will be initially issued in the formofa single fullyregistered Bond for each maturity of the Series 2001 Bonds. Upon initial issuance,the ownership ofeach such Series 2001 Bonds will be registered in the registration books kept by the Bond Registrar, in the name of Cede&Co., as nominee ofThe Depository Trust Company,New York,New York('DTC"). While held in book-entry form,all payments of principal,interest and premium,if any, on the Series 2001 Bonds will be made to DTC or the DTC Nominee as the sole registered owner of the Series 2001 Bonds and payments to Beneficial Owners will be the responsibility of DTC and the DTC Participants as described below. See 'Book-Entry Only System." Book-Entry Only System With respect to Series 2001 Bonds registered in the name of Cede& Co.,as nominee of DTC, neither the County,nor the Paying Agent will have any responsibility or obligation to any DTC Participant or to any indirect DTC Participant. See"Book-Entry Only System"for the definition of"DTC Participant." Without limiting the immediately preceding sentence,neither the County nor the Bond Registrar and the Paying Agent will have any responsibility or obligation with respect to: (i)the accuracy of the records of DTC or any DTC Participant with respect to any ownership interest in the Series 2001 Bonds; (ii) the delivery to any DTC Participant or any other person other than a registered owner, as shown in the registration books kept by the Bond Registrar, of any notice with respect to the Series 2001 Bonds, including any notice of redemption;or(iii)the payment to any DTC Participant or any other person,other than a registered owner,as shown in the registrationbooks kept by the Bond Registrar,of any amount with respect to principal of premium, if any, or interest on the Series 2001 Bonds. The County, the Bond Registrar and the Paying Agent maytreat and consider the person in whose name each Series 2001 Bonds 2