92-88 AUTHORIZING THE ISSUANCE OF $705,000 IN AGGREGATE PRINCIPAL AMOUNT OF ECONOMIC DEVELOPMENT REVENUE REFUNDING BONDS

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or provision of the Illinois Constitution or the Act or to a section, provision or chapter of the Illinois Revised Statutes shall include such section or provision or chapter as from time to time amended, modified, revised, supplemented, or superseded; provided, however, that no such change shall alter the obligation to pay the Bond Service Charges in the amounts and manner, at the times, and from the sources provided in this Bond Legislation and the Indenture, ezcept as otherwise herein permitted, or shall be deemed applicable by reason of this provision if such change would in any way constitute an impairment of the rights of the Issuer or the Borrower under the Agreement. Unless the contegt shall otherwise indicate, words importing the singular number shall include the plural number, and vice versa, any pronoun shall be deemed to cover all genders, and the terms "herein" , "hereof" , "hereby" , "hereto" , "hereunder" , and similar terms, mean this Bond Legislation and the Indenture and not solely the portion hereof in which any such word is used. Section 2. Determinations of Issuinq Authority. Pursuant to the Act, the Issuing Authority hereby finds and determines that the refunding of the Prior Bonds is permitted under the Act and is consistent with the provisions of the Constitution and laws of the State of Illinois . Section 3 . Authorization of Series 1992 Bonds . It is hereby determined to be necessary to, and the Issuer shall, issue, sell and deliver, as provided herein and pursuant to the authority of the Act, the Series 1992 Bonds in the aggregate principal amount of $705,000 for the purpose of refunding the Prior Bonds, all in accordance with the provisions of the Loan Agreement and the Bond Purchase Agreement. The Series 1992 Bonds shall be designated "Economic Development Revenue Refunding Bonds (The Kroger Co. ) , Series 1992" . Section 4 . Terms of the Series 1992 Bonds . The Series 1992 Bonds shall be issued only in fully registered form in the denomination of $5,000 and any integral multiple thereof not in ezcess of any single maturity. The Series 1992 Bonds shall be dated as of October 1, 1992, in such denominations as shall be requested by the Original Purchaser, and in substantially the form set forth therefor in the Indenture. The Series 1992 Bonds shall initially be issued in global book entry form registered in the name of CEDE & Co, as nominee for DTC. Upon any ezchange or transfer and surrender of any Series 1992 Bond in accordance with the provisions of the Indenture, the Issuer shall ezecute and the Trustee shall authenticate and deliver one or more new Series 1992 Bonds in ezchange therefor - 8 -