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u ~. _.,~1,.,,~., <br />11 <br />Section 3. Authorization of Project Bonds: Additional <br />Bonds. This Legislative Authority determines it to be <br />necessary to, and the Issuer shall, issue, sell and deliver, as <br />provided and authorized herein and in the Indenture and <br />pursuant to the authority of the Act, $545,000 principal amount <br />of Project Bonds for the purpose of making a loan to assist the <br />Company in Refunding the Old Bonds. The Project Bonds shall be <br />designated "Variable Rate Demand Industrial Development Revenue <br />Refunding Bonds (Bryant & Stratton Project)." The Issuer may <br />issue, sell and deliver Additional Bonds for any purpose <br />authorized by the Act, upon satisfaction of the conditions and <br />in the manner provided in Section 2.04 of the Indenture. <br />Section 4. Terms and Provisions of Project Bonds. <br />(a) Generallv. The Project Bonds (i) shall be <br />issued, unless a Supplemental Indenture shall have been <br />executed and delivered pursuant to Section 8.02(h) of the <br />Indenture, only in fully registered form, substantially as set <br />forth in Exhibit A to the Indenture; (ii) shall be exchangeable <br />for Project Bonds of authorized denominations, as provided in <br />the Indenture; (iii) shall be numbered in such manner as to <br />distinguish each Project Bond from any other Project Bond; (iv) <br />shall be in authorized denominations as described in the <br />Indenture; (v) shall be subject to optional and mandatory <br />redemption in the amounts, upon the conditions, and at the <br />times and prices set forth in the Indenture and shall be <br />purchased on the demand of any Holder thereof at the times and <br />