Call or Redemption of Bonds Prior to Fixed Maturity Date

Bonds may be callable upon such terms, conditions, and upon such notice as the Board, with the approval of the Governor, may determine, and upon the payment of such premium as may be fixed by the Board, with the approval of the Governor, in the proceedings for the issuance of the bonds. No bond is subject to call or redemption prior to its fixed maturity date unless the right to exercise such call is expressly stated on the face of the bond.