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1. The Purchaser shall purchase the Bonds and the <br />Commission shall sell to the Purchaser the Bonds no later than the <br />day of <br />, 1992, at a price of <br />and <br />00 /100 Dollars ($ .00) and Purchaser's obligation to <br />purchase said Bonds shall expire if said Bonds are for any reason <br />not available for delivery to the Purchaser by said date unless <br />otherwise agreed to by the Purchaser. The Bonds shall be dated <br />the first day of the month in which they are originally delivered <br />and will have the maturities and will bear interest at a rate per <br />annum as determined hereinbelow. Interest on the Bonds shall be <br />calculated on the basis of twelve (12) thirty -day months for a <br />360 -day year. <br />2. The Bonds shall mature on February 1, 1998, and be <br />payable each February 1 thereafter and shall bear interest on <br />February 1, 1993, and each August 1 and February 1 thereafter at <br />a rate not to exceed eight percent (8 %) per annum to be determined <br />as follows: <br />3. The terms of the Bonds are more fully set forth in <br />the Final Bond Resolution, a copy of which is attached hereto, and <br />such terms are incorporated herein by reference. <br />4. The Bonds shall not be sold or transferred in <br />principal amounts of less than One Hundred Thousand and 00 /100 <br />Dollars ($100,000.00) without the opinion of counsel that the sale <br />or transfer conforms to securities laws. <br />2 <br />