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• <br />10 <br />Authority in whole or in part; in whole multiples of $5,000, on any <br />date not earlier than February 1, 2004, from any moneys made <br />available for that purpose, at a redemption price expressed as a <br />percentage of the principal amount of each Bond to be redeemed in <br />accordance with the following schedule, plus interest accrued on <br />the Bonds so redeemed to the date fixed for redemption:. <br />Redemption Period <br />Both Dates Inclusive) Redemption Price <br />February 1, 2004 to January 31, 2005 102% <br />February 1, 2005 to January 31, 2006 101% <br />February 1, 2006 and thereafter 100% <br />At the option of the Underwriter, the Underwriter may aggregate the <br />Bonds into one or two term bonds payable from mandatory sinking <br />fund redemption payments (the "Term Bonds ") . The terms and payment <br />schedule of such Term Bonds will be as set forth in the Trust <br />Agreement. <br />Section 6. The Bonds shall be sold by private, <br />negotiated sale, as provided by IC 36 -7- 14.5 -19, to the <br />Underwriter, at a price of not less than ninety -nine percent (99 %) <br />(exclusive of original issue discount) of the par value of the <br />Bonds plus accrued interest to the date of delivery of the Bonds <br />in accordance with the Purchase Contract. The President or Vice - <br />President of the Authority are hereby authorized to execute and <br />deliver the Purchase Contract substantially in the form presented <br />to the Authority, together with such changes and modifications as <br />may be approved by the President or Vice - President, said officers' <br />execution to be conclusive evidence of their approval of such <br />changes. The President or Vice - President are authorized to publish <br />4 <br />