No. 1054 regarding issuance of tax increment revenue refunding bonds

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to the date fixed for redemption to the registered owner of each bond to be redeemed at the address shown on the registration books, provided, however, that failure to give such notice by mailing, or any defect therein, with respect to any such registered bond shall not affect the validity of any proceedings for the redemption of other bonds. On and after the redemption date specified in the aforesaid notice, such bonds, or portions thereof, thus called (provided funds for their redemption are on deposit at the place of payment) shall not bear interest, shall no longer be protected by the Resolution and shall not be deemed to be outstanding under the provisions of the Resolution, and the holders thereof shall have the right only to receive the redemption price thereof. All bonds which have been redeemed shall be cancelled and shall not be reissued; provided, however, that one or more new registered bonds shall be issued for the unredeemed portion of any bond without charge to the holder thereof. Prior to the date fixed for redemption, funds shall be deposited with the Paying Agent to pay, and the Paying Agent is hereby authorized and directed to apply such funds to the payment of, the bonds or portions thereof called, including accrued interest thereon to the redemption date and any required premium. No payment shall be made by the Paying Agent upon any bond or portion thereof called for redemption until such bond shall have been delivered for payment or cancellation or the Registrar shall have received the items required by the Resolution with respect to any mutilated, lost, stolen or destroyed bond. In the Resolution, the Issuer reserves the right to authorize and issue additional bonds payable solely from incremental taxes on real property and proceeds from the sale or leasing of property locating in the Area and earnings thereon, which bonds may rank on a parity with the bonds of this issue, all subject to the conditions set forth in the Resolution. Each bond shall be transferable or exchangeable only upon the bond register maintained by the Registrar by the registered owner thereof in person, or by his attorney duly authorized in writing, upon surrender of such bond at the principal office of the Registrar, accompanied by a written instrument or instruments of transfer or exchange in form satisfactory to the Registrar and duly executed by the registered owner or his attorney duly authorized in writing, and thereupon a new fully registered bond or bonds in the same aggregate principal amount and of the same MM