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Bonds, and to return the good faith checks of the unsuccessful bidders forthwith. The Mayor and City Manager are directed to execute a contract with the Purchaser on behalf of the City. 1.03. The City will forthwith issue and sell the Bonds in the total principal amount of $2,750,000, originally dated March 21,1997, in the denomination of $5,000 each or any integral multiple thereof, numbered No. R-l, upward, bearing interest as above set forth, and which mature serially on March 1 in the years and amounts as follows: Year Amount Year Amount 1998 $130,000 2006 $185,000 1999 135,000 2007 195,000 2000 140,000 2008 205,000 2001 145,000 2009 220,000 2002 155,000 2010 230,000 2003 160,000 2011 245,000 2004 170,000 2012 255,000 2005 180,000 1.04. Optional Redemption. The City may elect on March 1, 2003 and on any day thereafter to prepay Bonds due on or after March 1, 2004. Redemption may be in whole or in part and if in part, at the option of the City and in such order as the City wìll determine. If less than all Bonds of a maturity are called for redemption, the City will notify DTC (as defined in Section 7 hereof) of the particular amount of such maturity to be prepaid. DTC wìll determine by lot the amount of each participant's interest in such maturity to be redeemed and each participant wìll then select by lot the beneficial ownership interests in such maturity to be redeemed. All prepayments will be at a price of par plus accrued interest. Section 2. Registration and Payment. 2.01. Registered Form. The Bonds will be issued only in fully registered form. The interest thereon and, upon surrender of each Bond, the principal amount thereof, is payable by check or draft issued by the Registrar described herein. 2.02. Dates; Interest Payment Dates. Each Bond wìll be dated as of the last interest payment date preceding the date of authentication to which interest on the Bond has been paid or made available for payment, unless (i) the date of authentication is an interest payment date to which interest has been paid or made available for payment, in which case such Bond wìll be dated as of the date of authentication, or (ìì) the date of authentication is prior to the first interest payment date, in which case such Bond wìll be dated as of the date of original issue. The interest on the Bonds is payable on March I and September I of each year, commencing September 1, 1997, to the owner of record thereof as of the close of business on the fifteenth day of the immediately preceding month, whether or not such day is a business day. DJK1l8730 RS200-19