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<br />Year Amount Year Amount <br />1994 $190,000 1999 $225,000 <br />1995 195,000 2000 235,000 <br />1996 200,000 2001 250,000 <br />1997 205,000 2002 260,000 <br />1998 215,000 <br /> <br />1.04. Optional Redemption. The City may elect on March 1,1999 and on any <br />date thereafter to prepay Bonds maturing on or after March 1, 2000. Redemption <br />may be in whole or in part of the Bonds subject to prepayment. If redemption is in <br />part, those Bonds remaining unpaid which have the latest maturity date will be <br />prepaid first. If only part of the Bonds having a common maturity date are called <br />for prepayment the specific Bonds to be prepaid will be chosen by lot by the <br />Registrar. All payments will be at a price of par plus accrued interest. <br /> <br />Section 2. Registration and Payment. <br /> <br />2.01. Registered Form. The Bonds shall be issued only in fully registered <br />form. The interest thereon and, upon surrender of each Bond, the principal amount <br />thereof, is payable by check or draft issued by the Registrar described herein. <br /> <br />2.02. Dates; Interest Payment Dates. Each Bond will be dated as of the last <br />interest payment date preceding the date of authentication to which interest on the <br />Bond has been paid or made available for payment, unless (i) the date of <br />authentication is an interest payment date to which interest has been paid or made <br />available for payment, in which case such Bond will be dated as of the date of <br />authentication, or (ii) the date of authentication is prior to the first interest <br />payment date, in which case such Bond will be dated as of the date of original issue. <br />The interest on the Bonds is payable on March 1 and September 1 of each year, <br />commencing September 1, 1993, to the owner of record thereof as of the close of <br />business on the fifteenth day of the immediately preceding month, whether or not <br />such day is a business day. <br /> <br />2.03. Registration. The City will appoint and maintain a bond registrar, <br />transfer agent, authenticating agent and paying agent (Registrar). The effect of <br />registration and the rights and duties of the City and the Registrar with respect <br />thereto are as follows: <br /> <br />(a) Register. The Registrar must keep at its principal corporate <br />trust office a bond register in which the Registrar provides for the <br />registration of ownership of Bonds and the registration of transfers and <br />exchanges of Bonds entitled to be registered, transferred or exchanged. <br /> <br />(b) Transfer of Bonds. Upon surrender for transfer of a Bond duly <br />endorsed by the registered owner thereof or accompanied by a written <br />instrument of transfer, in form satisfactory to the Registrar, duly executed <br />by the registered owner thereof or by an attorney duly authorized by the <br />registered owner in writing, the Registrar will authenticate and deliver, in <br />the name of the designated transferee or transferees, one or more new Bonds <br />of a like aggregate principal amount and maturity, as requested by the <br />transferor. The Registrar may, however, close the books for registration of <br />any transfer after the fifteenth day of the month preceding each interest <br />payment date and until such interest payment date. <br /> <br />RLD47467 <br />RS200-10 <br /> <br />3 <br />