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thereof, numbered No. R-1, upward, bearing interest as above set forth and maturing serially on March 1 in the years and amounts as follows: ' Year Amount Year Amount 1997 $100,000 2005 $145,000 1998 105,000 2006 150,000 1999 105,000 2007 160,000 2000 110,000 2008 165,000 2001 120,000 2009 175,000 2002 125,000 2010 185,000 2003 130,000 2011 190,000 2004 135,000 1 .04. Optional Redemption. The City may elect on March 1, 2002, and on any day thereafter to prepay Bonds due on or after March 1, 2003. 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 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 will determine by lot the amount of each participant's interest in such maturity to be redeemed and each participant will then select by lot the beneficial ownership interests in such maturity to be redeemed. Prepayments will be at a price of par plus accrued interest. Section 2. ReJ1jstration 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 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 the Bond will 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 the 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, 1996, to the registered owners of record thereof as of the close of business on the fifteenth day of the immediately preceding month, whether or not that day is a business day. 2.03. Registration. The City will appoint 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 wb!cb 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. DJXl03226 1UI2oo-16