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of the Escrow Agreement by the Chairman or Vice Chairman. The amount transferred to the Escrow Agent from each of the various sinking funds and reserve accounts shall be used only for the purpose of paying the interest on, the principal of and the premium, if any, which first become due on the Retired Bonds to which said sinking funds and reserve accounts relate and as may be more specifically specified by the County. SECTION 6. AUTHORIZATION AND DESCRIPTION OF SERIES 1993 BONDS. Subject and pursuant to the provisions of this Resolution, obligations of the County to be known as "Recreational Revenue Refunding Bonds, Series 199311, are hereby authorized to be issued in the aggregate principal amount of not exceeding $_ The Series 1993 Bonds shall be dated as of a date to be fixed by subsequent resolution of the County and may be numbered consecutively from R-1 upward or in such other manner as agreed upon between the County and the Bond Registrar. The Series 1993 Bonds shall be issued in such denominations, shall bear interest at such rate or rates, not exceeding the maximum rate authorized by applicable law, be payable at such times, shall mature on such dates and in such years and in such amounts, shall be subject to redemption, in whole or in part, prior to their respective stated dates of maturity, at the option of the County or otherwise, at such times and in such manner and shall have such other terms and conditions all as may be determined by subsequent resolution of the Board adopted at or prior to the sale of the Series 1993 Bonds. The Series 1993 Bonds shall be issued in fully registered form without coupons; shall be payable with respect to principal at a corporate trust office of the Paying Agent; shall be payable in lawful money of the United States of America; and shall bear interest from their date, payable by checks mailed to the Registered Owners at their addresses as they appear on the registration books kept by the Bond Registrar on behalf of the County. At the option of any Registered Owner of $1,000,000 or more in aggregate principal amount of the Series 1993 Bonds as of any Record Date, interest shall be payable by domestic wire transfer pursuant to written instructions from such Registered Owner; provided that such instructions are on file with the Paying Agent not later than such Record Date. Notwithstanding any other provisions of this Resolution, the Board may, at its option, prior to the date of issuance of any series of Bonds and subject to the approval of the purchasers of such Bonds, elect to use an immobilization system or pure book -entry system with respect to issuance of such Bonds, provided adequate records will be kept with respect to the ownership of such Bonds issued in book -entry form or the beneficial ownership of the such Bonds issued in the name of a nominee. As long as any of such Bonds are outstanding in book -entry form, the provisions of Sections 7, 9, 10 and 11 of this Resolution shall not be applicable to such Bonds. The details of any alternative system of bond issuance, as described in this paragraph, shall be set forth in a resolution of the Board duly adopted at or prior to the delivery of such Bonds. SECTION 7. EXECUTION AND AUTHENTICATION OF BONDS. The Bonds shall be executed in the name of the County by the Chairman or Vice Chairman of the Board attested by its Clerk and its official seal or a facsimile thereof shall be affixed thereto or reproduced thereon. The signatures of the Chairman or Vice Chairman and Clerk may be either manual or facsimile signatures. The certificate of authentication of the Bond Registrar shall appear on the Bonds, and no Bond shall be valid or obligatory for any purpose or be entitled to any security or benefit under this Resolution unless such certificate shall have been duly