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<br />Maturity Year Interest Rate Maturity Year Interest Rate <br />1995 5.10% 2001 5.60% <br />1996 5.10 2002 5.70 <br />1997 5.10 2003 5.80 <br />1998 5.10 2004 5.90 <br />1999 5.30 2005 6.00 <br />2000 5.40 2006 6.10 <br /> <br />5. DescriDtion of the Global certificates and Global <br />Book-Entry System. Upon their original issuance the Bonds will <br />be issued in the form of a single Global certificate for each <br />maturity, deposited with the Depository by the Purchaser and <br />immobilized as provided in paragraph 6. No beneficial owners of <br />interests in the Bonds will receive certificates representing <br />their respective interests in the Bonds except as provided in <br />paragraph 6. Except as so provided, during the term of the <br />Bonds, beneficial ownership (and subsequent transfers of <br />beneficial ownership) of interests in the Global certificates <br />will be reflected by book entries made on the records of the <br />Depository and its Participants and other banks, brokers, and <br />dealers participating in the National System. The Depository's <br />book entries of beneficial ownership interests are authorized to <br />be in increments of $5,000 of principal of the Bonds, but not <br />smaller increments, despite the larger authorized denominations <br />of the Global certificates. PaYment of principal of, premium, if <br />any, and interest on the Global certificates will be made to the <br />Bond Registrar as paying agent, and in turn by the Bond Registrar <br />to the Depository or its nominee as registered owner of the <br />Global Certificates, and the Depository according to the laws and <br />rules governing it will receive and forward paYments on behalf of <br />the beneficial owners of the Global Certificates. <br /> <br />PaYment of principal of, premium, if any, and interest <br />on a Global certificate may in the City's discretion be made by <br />such other method of transferring funds as may be requested by <br />the Holder of a Global certificate. <br /> <br />6. Immobilization of Global certificates bY the <br />DeDository: Successor Depository: ReDlacement Bonds. Pursuant to <br />the request of the Purchaser to the Depository, which request is <br />required by the Official Notice of Sale, immediately upon the <br />original delivery of the Bonds the Purchaser will deposit the <br />Global Certificates representing all of the Bonds with the <br />Depository. The Global certificates shall be in typewritten form <br />or otherwise as acceptable to the Depository, shall be registered <br />in the name of the Depository or its nominee and shall be held <br />immobilized from circulation at the offices of the Depository on <br />behalf of the Purchaser and subsequent bondowners. The <br /> <br />26957 <br /> <br />6 <br />