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<br />Under the Code, ownership of tax-exempt obligations may also result in <br />collateral .federal income tax consequences to certain taxpayers <br />including, without limitation, S corporations, .financial institutions, <br />property and .casualty insurance companies, individual recipients of <br />Social Security or Railroad Retirement benefits and taxpayers who may <br />be deemed to have incurred (or continued) indebtedness to purchase or <br />carry tax-exempt obligations. <br />No provision has been made for redemption of the Bonds, or for an <br />increase in the interest rate on the Bonds, in the event that interest <br />on the Bonds becomes subject to income taxation. <br />The foregoing does not purport to be a comprehensive discussion of the <br />tax consequences of owning the Bonds. Prospective owners of the Bonds <br />should consult their own tax advisors :with respect to the foregoing and <br />other tax consequences of owning the Bonds. <br /> <br />~ <br /> <br />