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the next succeeding Adjustment Date for such Bonds for all purposes • of this Indenture. (b) The Authority shall evidence each such designation of a Substitute Adjustment Date by giving written notice to the Remarketing Agent, the Tender Agent, the Trustee and the Credit Facility Issuer, which written notice shall be received by the Remarketing Agent, the Tender Agent, the Trustee and the Credit Facility Issuer not less than 15 days prior to each such Substitute Adjustment Date, specifying (i) the Mode in which such Bonds shall operate commencing with such Substitute Adjustment Date and (ii) if such Adjustment Period is to be an Adjustable Long Mode, the duration of the immediately succeeding Adjustment Period for each Bond affected thereby, the Rate Periods therein, the Rate Change Dates and Rate Determination Dates therefor and the applicable optional redemption provisions determined in accordance with Section 511(a)(ii) hereof; provided, however, that clauses (A) through (E) of the proviso in the first sentence of Section 601(b) hereof shall apply to the designation by the Authority of a Substitute Adjustment Date and the selection of the Rate Determination Date or Dates and the Rate Change Date or Dates applicable thereto. In addition, if the succeeding Adjustment Period is to be an Adjustable Long Mode, the Remarketing Agent shall give telephonic notice (confirmed by telecopy) to the Tender Agent and the Trustee by 11:00 a.m., New York City time, on the Rate Determination Date, specifying the interest rate which will • be effective commencing on such Substitute Adjustment Date. If the succeeding Adjustment Period is to be a Weekly Mode, the Remarketing Agent shall give telephonic notice (subsequently confirmed by telecopy) to the Authority, the Tender Agent and the Trustee by 11:00 a.m., New York City time, on the Rate Determination Date, specifying the interest rate which will be effective commencing on such Substitute Adjustment Date. (c) If the Authority shall designate a Substitute Adjustment Date for any Bonds, it shall cause to be delivered to the Trustee, the Tender Agent, the Remarketing Agent, the Authority and the Credit Facility Issuer concurrently with the notice described above, and no such designation of a Substitute Adjustment Date, shall take effect without, an Opinion of Bond Counsel to the effect that the designation of such Substitute Adjustment Date (i) is authorized or permitted by this Indenture, (ii) will not have an adverse effect on any exemption from federal income taxation to which the interest on the Bonds would otherwise be entitled, and (iii) will not have an adverse effect on the validity or enforceability of any Bond. If the foregoing opinion described in this subsection (c) is not delivered, the designation of the related Substitute Adjustment Date shall not be effective. If an Opinion of Bond Counsel is required to be delivered, together with the notice, as provided in this Section 602(c), the conversion contemplated by such opinion and notice shall not become effective unless prior to 11:00 a.m., New York City time, on the applicable • 59