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<br />Redemption <br /> <br />The City may elect on July 1, 2004, and on any business date thereafter, to prepay the <br />Bonds. Redemption may be in whole or in part and if in part at the option of the City and in such <br />manner as the City will determine. If less than all Bonds of a maturity are called for redemption, <br />the City will notify DTC of the particular amount of such maturity to be prepaid. DTC will <br />determine by lot the amount of each participant's interest in such maturity to be redeemed and <br />each participant will then select by lot the beneficial ownership interests in such maturity to be <br />redeemed. Prepayments will be at a price of par plus accrued interest. <br /> <br />Interest <br /> <br />Interest on the bonds will be payable on January 1, 2004, and semiannually thereafter on <br />each January 1 and July 1. Bonds maturing on the same date must bear interest from date of <br />issue until paid at a single, uniform rate. Each rate must be in an integral multiple of 1/20 or 1/8 <br />ofl%. <br /> <br />Registrar <br /> <br />The City will name the Registrar which will be subject to applicable SEC regulations. <br />Principal will be payable at the principal office of the Registrar and interest will be payable by <br />check or draft of the Registrar mailed to the registered holder of a bond. The City will pay the <br />reasonable and customary charges for the services of the Registrar. <br /> <br />CUSIP Numbers <br /> <br />The City assumes no obligation for the assignment or printing of CUSIP numbers on the <br />bonds or for the correctness of any numbers printed thereon, but will permit such numbers to be <br />assigned and printed at the expense of the purchaser, if the purchaser waives any extension of the <br />time of delivery caused thereby. <br /> <br />Delivery <br /> <br />Within 40 days after sale, the City will furnish and deliver to the office of the purchaser <br />or, at its option, will deposit with a bank in the United States selected by it and approved by the <br />City as its agent to permit examination by and to deliver to the purchaser, the printed and <br />executed bonds, the unqualified opinion thereon of bond counsel, and a certificate stating that no <br />litigation in any manner questioning their validity is then threatened or pending. The charge of <br />the delivery agent must be paid by the purchaser but all other costs will be paid by the City. The <br />purchase price must be paid upon delivery of the bonds in funds available for expenditure by the <br />City on the day of payment. <br /> <br />Sffi-23 1 866vl <br />CE155-20 <br />