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Registrar shall not be obligated to make any such exchange or transfer of Bonds of any Series <br />during the 15 days next preceding an Interest Date on the Bonds of such Series, or, in the case of <br />any proposed redemption of Bonds of such Series, then, for the Bonds subject to redemption, <br />during the 15 days next preceding the date of the first mailing of notice of such redemption and <br />continuing until such redemption date. <br />The Issuer may elect to issue any Bonds as uncertificated registered public obligations (not <br />represented by instruments), commonly known as book -entry obligations, provided it shall <br />establish a system of registration therefor by Supplemental Resolution. <br />SECTION 2.07. FORM OF BONDS. The text of the Bonds, except for Capital <br />Appreciation Bonds and Variable Rate Bonds, the form of which shall be provided by <br />Supplemental Resolution of the Issuer, shall be in substantially the following form, with such <br />omissions, insertions and variations as may be necessary and/or desirable and approved by the <br />Chairman or the Clerk prior to the issuance thereof (which necessity and/or desirability and <br />approval shall be presumed by such officer's execution of the Bonds and the Issuer's delivery of <br />the Bonds to the purchaser or purchasers thereof): <br />[Remainder of page intentionally left blank] <br />12 <br />138 <br />