96-77 AUTHORIZING AND APPROVING THE ADVANCE REFUNDING OF A PORTION OF HOSPITAL FACILITY REVENUE BONDS

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, � ' ' The Series 1991 Trustee is hereby directed to give notice of the advance refunding of the Refunded Series 1991B Bonds by first class mail, postage prepaid, to the Bond Insurer and the owners of the Refunded Series 1991B Bonds as soon as practicable after the issuance of the Series 1996B Bonds. Such notice shall be substantially in the form attached hereto as Exhibit C over the name of the Mayor of the Municipality in office at the time such notice is given. ARTICLE IV GENERAL PROVISIONS Section 401. Except as provided in Section 402 of this First Supplemental Bond Indenture with respect to excess funds, the Securities Trust Fund hereby created shall be irrevocable and the owners of the Refunded Series 1991B Bonds shall have an express lien on the principal of and interest on the Escrow Obligations and any cash held in the Securities Trust Fund until used and applied in accordance with this First Supplemental Bond Indenture. The Series 1991 Trustee shall hold the Securities Trust Fund as a separate trust account wholly segregated from all other funds held by the Series 1991 Trustee in any capacity and shall make disbursements from the Securities Trust Fund only in accordance with the provisions of this First Supplemental Bond Indenture. The principal of and interest on the Escrow Obligations shall not be reinvested and the Series 1991 Trustee shall not sell or otherwise dispose of the Escrow Obligations except as provided in Section 402 below. Section 402. Subject to the immediately succeeding paragraph, the Escrow Obligations (or any portion thereo� may be sold, redeemed, invested, substituted or reinvested in any manner (any such direction to sell, redeem, invest, substitute or reinvest to be referred to as a "Subsequent Action") if the following conditions are satisfied prior to the taking of such Subsequent Action: (a) the Series 1991 Trustee shall have received a certificate of the Municipality authorizing the Subsequent Action; (b) the Series 1991 Trustee shall have received a copy, duly certified by the Secretary or Assistant Secretary of the Corporation, of a resolution of the board of trustees of the Corporation approving the Subsequent Action or an opinion of Independent Counsel stating that the Subsequent Action has been approved; (c) the Series 1991 Trustee shall have received an opinion from a nationally recognized firm of independent certified public accountants to the effect that, after taking the Subsequent Action, the Escrow Obligations and cash available or to be available in the Securities Trust Fund for payment of the Refunded Series 1991B Bonds, together with any income to accrue thereon but without consideration of any reinvestment thereof, will remain sufficient to pay the principal of and premium and -7-