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Description of the Bonds Bonds Not Subject to Redemption. The Bonds are not subject to redemption prior to their stated maturities. Denominations . The Bonds willbe issued in denominations of $5,000 each or any integral multiple thereof Book -Entry Only System The Bonds will be initially registered only in the name of Cede & Co., as nominee of The Depository Trust Company, New York, New York ("DTC"), which will act as securities depository for the Bonds. The Bonds will be available to purchasers only under the book -entry system maintained by DTC through brokers and dealers who are, or act through, DTC Participants. Purchasers will not receive delivery of the Bonds. So long as any purchaser is the Beneficial Owner (as defined herein) of a Bond, he must maintain an account with a broker or dealer who is, or acts through, a DTC Participant to receive payment of principal of and interest on such Bond. See "DESCRIPTION OF THE BONDS - Book -Entry Only System" herein. Paying Agent and Registrar. U.S. Bank, National Association, Ft. Lauderdale, Florida (the "Registrar"), will serve as -Paying Agent and Registrar for the Bonds. Registration and Transfers . The Bonds willbe issued in fully registered, book -entry -only form, registered in the name of Cede & Co., as nominee for DTC. Transfers of book -entry interests will be accomplished by DTC participants or others who act for the Beneficial Owners, in accordance with DTC procedures and applicable state laws. Payments. Payments of principal of and interest on the Bonds will be made by the Registrar to Cede & Co., as nominee for DTC, which, in tum, will immediately credit the accounts ofDTC participants. The DTC participants will credit the payments to the Beneficial Owners in accordance with standing instructions and customary practices between DTC and the DTC participants. For a more complete description of the Bonds and the basic documentation pursuant to which Bonds are issued, see the "DESCRIPTION OF THE BONDS" herein. Municipal Bond Insurance Ambac Assurance ("Ambac") has made a corimuitment to issue a financial guarantyinsurancepolicy (the "Financial Guaranty Insurance Policy") relating to the Bonds effective as ofthe date of issuance ofthe Bonds. The Financial Guarantylnsurance Policywill insure payment only on stated maturity dates and on mandatory sinking fund installment dates, in the case of principal, and on stated dates for payment, in the case of interest. See "FINANCIAL GUARANTY INSURANCE" herein.