maturities (less than all of a single maturity to be selected by
lot), on any Interest Payment Date falling on or after May 1, 2004,
at a redemption price, expressed as a percentage of the principal
amount of the Bonds called for redemption, plus unpaid interest
accrued to the date of redemption, as follows:

          Redemption Dates (inclusive)       Redemption Prices

          May 1, 2004 through November 1, 2005     102%
          May 1, 2006 through November 1, 2007     101%
          May 1, 2008, and thereafter              100%

          The Series M (Second Series) Bonds maturing on May 1,
    , are subject to mandatory redemption, at 100% of the principal
amount redeemed plus accrued interest to the date of redemption, on
the dates and in the principal amounts to be selected by lot by the
Trustee, as follows:

              Date                               Amounts

          May 1, _$
          May 1,
          May 1,      (final maturity)                 ]

          In the event that a Series M (Second Series) Bond subject
to redemption is in a denomination larger than $5,000, a portion of
such Series M (Second Series) Bond may be redeemed, but only in a
principal amount equal to $5,000 or an integral multiple thereof.
Upon surrender of any Series M (Second Series) Bond for redemption
in part, the Trustee, in accordance with the Series M (Second
Series) Resolution, shall authenticate and deliver in exchange
Series M (Second Series) Bonds in an aggregate principal amount
equal to the unredeemed portion of the Series M (Second Series)
Bond so surrendered.

           The Trustee shall give notice of any redemption by
sending such notice by United States mail, first class, postage
prepaid, not less than thirty (30) and not more than sixty (60)
days prior to the date fixed for redemption, to the registered
Owner of each Series M (Second Series) Bond to be redeemed in whole
or in part at the address shown on the Bond Register as of the date
of mailing of such notice.

           A statutory mortgage lien, which is hereby recognized as
valid and binding on said Project, is created and granted to and in
favor of the owners of the Series M (Second Series) Bonds on a
parity with all outstanding Bonds, and the Project shall rcmain
subject to such statutory mortgage lien until the payment in full
of the principal of and interest on the Series M (Second Series)
Bonds.

           This Series M (Second Series) Bond shall not be valid or
become obligatory for any purpose, or be entitled to any security
or benefit under the Resolution until it shall have been



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