747-17 Master Resolution for Infrastructure Sales Surtax Revenue Bond (City Hall Project), Series 2017

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electronic payment as designated by the Holder thereof, for the account of such Holder. In the event the interest payable on any Series 2017 Bond is not punctually paid or duly provided for by the Issuer on such Interest Date, such defaulted interest will be paid to the Holder in whose name such Series 2017 Bond shall be registered at the close of business on a special record date for the payment of such defaulted interest as established by notice to such Holder,not less than ten days preceding such special record date. All payments of principal of or Redemption Price, if applicable, and interest on the Series 2017 Bond shall be payable in any coin or currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts. SECTION 2.03 Application of Series 2017 Bond Proceeds. Except as otherwise provided by Supplemental Resolution, the proceeds derived from the sale of the Series 2017 Bond, including accrued interest and premium, if any, shall, simultaneously with the delivery of the Series 2017 Bond to the purchaser thereof,be applied by the Issuer as follows: 1. Accrued interest, if any, shall be deposited in the Interest Account and shall be used only for the purpose of paying the interest which shall thereafter become due on the Series 2017 Bond. 2. A sufficient amount of the Series 2017 Bond proceeds shall be applied to the payment of costs and expenses relating to the issuance of the Series 2017 Bond which must be paid upon delivery of the Series 2017 Bond. Such amount may, at the option of the Issuer, be deposited in and disbursed from the Construction Fund or a subaccount created therein. 3. The balance of the Series 2017 Bond proceeds shall be deposited in a subaccount in the Construction Fund to be created pursuant to Supplemental Resolution, to be used to pay all or a portion of the Costs of the Initial Project. SECTION 2.04 Execution of Bonds. The Bonds shall be executed in the name of the Issuer with the manual or facsimile signature of the Mayor, countersigned with the manual or facsimile signature of the President of the City Council, on behalf of the City Council, and the official seal of the Issuer shall be imprinted thereon, attested with the manual or facsimile signature of the Clerk. In case any one or more of the officers who shall have signed or sealed any of the Bonds, or whose facsimile signature shall appear thereon shall cease to be such officer of the Issuer before the Bonds so signed and sealed have been actually sold and delivered, such Bonds may nevertheless be sold and delivered as herein provided and may be issued as if the person who signed or sealed such Bonds had not ceased to hold such office. Any Bond may be signed and sealed on behalf of the Issuer by such person who at the actual time of the execution of such Bond shall hold the proper office of the Issuer, although, at the date of such Bond, such person may not have held such office or may not have been so authorized. The Issuer may adopt and use for such purposes the facsimile signatures of any such persons who shall have held such offices at any time after the date of the adoption of this Resolution,notwithstanding that either or both shall have ceased to hold such office at the time the Bonds shall be actually sold and delivered. SECTION 2.05 Authentication. No Bond of any Series (except for the Series 2017 Bond and any other Bond designated to be excepted by Supplemental Resolution) shall be secured hereunder or be entitled to the benefit hereof or shall be valid or obligatory for any purpose unless there shall be manually endorsed on such Bond a certificate of authentication by the Registrar or such other entity as may be approved by the Issuer for such purpose. Such certificate on any Bond (except for the Series 2017 Bond and any other Bond designated to be excepted by Supplemental Resolution) shall be conclusive evidence that such Bond has been duly authenticated and delivered under this Resolution. The form of such certificate shall be substantially in the form provided in Section 2.10 hereof. SECTION 2.06 Temporary Bonds. Until the definitive Bonds of any Series are prepared, the Issuer may execute, in the same manner as is provided in Section 2.04 hereof, and deliver, upon authentication by the Registrar pursuant to Section 2.05 hereof, if applicable, in lieu of definitive Bonds, but subject to the same provisions, limitations and conditions as the 8