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of a single maturity through book entries made on the books and records of DTC and its participants. Principal and interest are payable by the registrar to DTC or its nominee as registered owner of the Bonds. Transfer of principal and interest paYInents to participants of DTC will be the responsibility of DTC; transfer of principal and interest payn1ents to be11eficial OWIlers by participants will be the responsibility of such participants and other nominees of beneficial owners. T11e purcllaser, as a condition of delivery of the Bonds, will be required to deposit the Bonds with DTC. Optional Redemption The City 111ay elect on February 1, 2006, and on any day thereafter, to prepay Bonds. Redemption may be in whole or in part and if in part at the option of the City and in such manner as the City will determine. If less than all Bonds of a n1aturity are called for redemption, the City will notify DTC of the particular alTIOunt of such maturity to be prepaid. DTC will detern1ine by lot the anlount of each participant's interest in such maturity to be redeelned and each participant will then select by lot the beneficial ownership interests in such 111aturity to be redee111ed. Prepayn1ents will be at a price of par plus accrued interest. Mandatory Redemption Any tern1 bonds issued will be subject to mandatory sinking fund rede111ption in part prior to their scheduled 111aturity dates on February 1 of certain years, as 1110re fully described in the Details of the Bonds section herein, at a price of par plus accrued interest to the date of rede111ption. In terest Interest on the bonds will be payable on February 1, 2001, and semiannually thereafter on each February 1 and August 1. Bonds n1aturing on the saIne date 111USt bear interest from date of issue until paid at a single, uniform rate, not exceeding the rate specified for bonds of any subsequent ITIaturity. Each rate lTIUSt be in an integral 111ultiple of 1/20 or 1/8 of 1 %. Interest will be cOlnputed on the basis of a 360-day year of twelve 30-day months. Registrar The City will nan1e the Registrar which will be subject to applicable SEC regulations. Principal will be payable at the principal office of the Registrar and interest will be payable by check or draft of the Registrar n1ailed to the registered holder of a bond. The City will pay the reasonable and cust0111ary charges for the services of the Registrar. CUSIP Nlllnbers The City assumes no obligation for the assignn1ent or printing of CUSIP numbers on the bonds or for the con4ectness of any numbers printed thereon, but will permit such numbers to be assigned and printed at the expense of the purchaser, if the purchaser waives any extension of the time of delivery caused thereby. SJB-187824v 1 CE155-16