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interest as above set forth, and which mature serially on March 1 in the years and amounts as follows: Year Amount Year Amount 1995 $360,000 2001 995,000 1996 585,000 2002 1,050,000 1997 730,000 2003 1 ,11 0,000 1998 870,000 2004 645,000 1999 890,000 2005 320,000 2000 960,000 2006 125,000 1.04. Optional Redemption. The City may elect on March 1, 2000 and on any day thereafter to prepay Bonds maturing on or after March 1, 2001. Redemption may be in whole or in part of the Bonds subject to prepayment. If less than all Bonds of a maturity are called for redemption, the City will notify MSTC (as hereinafter defined) of the particular amount of the maturity to be prepaid. MSTC will determine by lot the amount of each participant's interest in the maturity to be redeemed, and each participant will then select by lot the beneficial ownership interest in the maturity to be redeemed. If redemption is in part, those Bonds remaining unpaid which have the latest maturity date will be prepaid first. If only part of the Bonds having a common maturity date are caned for prepayment the specific Bonds to be prepaid win be chosen by lot by the Registrar. All payments will be at a price of par plus accrued interest. Section 2. Registration and Payment. 2.01. Re~stered Form. The Bonds shall be issued only in fully registered form. The interest thereon and, upon_ surre.nßer or each._Bond, the principal a~o_uJl~ _ ____ thereof, is payable by check or draft issued by the Registrar described herein. 2.02. Dates; Interest Payment Dates. Each Bond will 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 shan be dated as of the date of authentication, or (ii) the date of authentication is prior to the first interest payment date, in which case such Bond will be dated as of the date of original issue. The interest on the Bonds is payable on March 1 and September 1 of each year, commencing September 1, 1994, 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. 2.03. Registration. The City will appoint, and shall maintain, a bond registrar, transfer agent, authenticating agent and paying agent (Registrar). The effect of registration and the rights and duties of the City and the Registrar with respect thereto are as follows: (a) Ree;ister. The Registrar must keep at its principal corporate trust office a bond register in which the Registrar provides for the registration of ownership of Bonds and the registration of transfers and exchanges of Bonds entitled to be registered, transferred or exchanged. DJ1t63776 RS200-13 3