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ON REVERSE OF BOND <br />Date of Payment_ Not Business Day. If the date for <br />payment of the principal of, premium, if any, or interest on this <br />Bond shall be a Saturday, Sunday, legal holiday or a day on which <br />banking institutions in the City of New York, New York, or the <br />city where the principal office of the Bond Registrar is located <br />are authorized by law or executive order to close, then the date <br />for such payment shall be the next succeeding day which is not a <br />Saturday, Sunday, legal holiday or a day on which such banking <br />institutions are authorized to close, and payment on such date <br />shall have the same force and effect as if made on the nominal <br />date of payment. <br />Redq=tion. All Bonds of this issue (the "Bonds") <br />maturing in the years 1999 to 2007, both inclusive, are subject <br />to redemption and prepayment at the option of the Issuer on <br />February 1, 1998, and on any Interest Payment Date thereafter at <br />a price of par plus accrued interest. Redemption may be in whole <br />or in part of the Bonds subject to prepayment. If redemption is <br />in part, those Bonds remaining unpaid which have the latest <br />maturity date shall be prepaid first; and if only part of the <br />Bonds having a common maturity date are called for prepayment, <br />the specific Bonds to be prepaid shall be chosen by lot by the <br />Bond Registrar. Bonds or portions thereof called for redemption <br />shall be due and payable on the redemption date, and interest <br />thereon shall cease to accrue from and after the redemption date. <br />Notice of Redemption. Mailed notice of redemption <br />shall be given to the paying agent (if other than a City officer) <br />and to each affected Holder of the Bonds. In the event any of <br />the Bonds are called for redemption, written notice thereof will <br />be given by first class mail mailed not more than sixty (60) and <br />not less than thirty (30) days prior to the redemption date to <br />each Holder of Bonds to be redeemed. In connection with any such <br />notice, the "CUSIP" numbers assigned to the Bonds shall be used. <br />Selection of Bonds for Redemption. To effect a partial <br />redemption of Bonds having a common maturity date, the Bond <br />Registrar shall assign to each Bond having a common maturity date <br />a distinctive number for each $5,000 of the principal amount of <br />such Bond. The Bond Registrar shall then select by lot, using <br />such method of selection as.it shall deem proper in its <br />discretion, from the numbers assigned to the Bonds, as many <br />numbers as, at $5,000 for each number, shall equal the principal <br />amount of such Bonds to be redeemed. The Bonds to be redeemed <br />shall be the Bonds to which were assigned numbers so selected; <br />provided, however, that only so much of the principal amount of <br />11676 <br />25 <br />