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2,02.
<br />Maturities-, Interest Rates- Denominations and rqVneal. The Bonds shall be
<br />originally dated
<br />as of June 1, 2016, shall be in the denomination of $5,000 each,
<br />or any integral
<br />multiple thereof, of single maturities, shall mature on January 15 in the years and amounts stated
<br />below, and shall bear interest from date of issue until paid or duly called for redemption,
<br />at the
<br />annual rates set forth opposite such years and amounts, as follows:
<br />Maturity
<br />Improvement
<br />Utility Bonds
<br />Total
<br />Rate
<br />Bonds
<br />2018
<br />$245,000
<br />395,000 $
<br />640,000
<br />2.000%
<br />2019
<br />250,000
<br />405,000
<br />655,000
<br />2.000
<br />2020
<br />255,000
<br />410,000
<br />665,000
<br />2.000
<br />2021
<br />265,000
<br />425,000
<br />690,000
<br />2.000
<br />2022
<br />2651000
<br />430,000
<br />695,000
<br />2.000
<br />2023
<br />275,000
<br />4.05,000
<br />710,000
<br />2.000
<br />2024
<br />280,000
<br />445,000
<br />725,000
<br />2.000
<br />2025
<br />280,000
<br />455,000
<br />735,000
<br />2,000
<br />2026
<br />285,000
<br />470,000
<br />755,000
<br />2.000
<br />2027
<br />290,000
<br />475,000
<br />765,000
<br />2.000
<br />2028
<br />485,000
<br />485,000
<br />2.000
<br />2029
<br />490,000
<br />490,000
<br />2.000
<br />2030
<br />505,000
<br />505,000
<br />2.000
<br />2031
<br />510,000
<br />510,000
<br />2.000
<br />2032
<br />520,000
<br />520,000
<br />2.000
<br />Tlie Bonds shall be issuable only in hilly registered forin. The interest thereon and, upon
<br />surrender of each Bond, the principal amount thereof shall be payable by check or draft issued by
<br />the Registrar described herein, provided that so long as the Bonds are registered in the name of a
<br />securities depository, or a nominee thereof, in accordance with Section 2.08 hereof, principal and
<br />interest shall be payable in accordance with the operational arrangements of the securities
<br />depository,
<br />2.03. Dates and Interest Payne it Dates. Upon initial delivery of the Bonds pursuant to
<br />Section 2.07 and upon any subsequent transfer or exchange pursuant to Section 2.06, the date of
<br />authentication shall be noted on each Bond so delivered, exchanged or transferred. Interest on
<br />the Bonds shall be payable on January 15 and July 15 in each year, commencing
<br />January 15, 2017, each such date being referred to herein as an Interest Payment Date, to the
<br />persons in whose names the Bonds are registered on the Bond Register, as hereinafter defined, at
<br />the Registrar's close of business on the first day of the calendar month in which such Interest
<br />Payment Date occurs, whether or not such day is a business day. Interest shall be computed on
<br />the basis of a 360-day year composed of twelve 30-day months.
<br />2.04, Redem ion. Bonds maturing on January 15, 2025 and later years shall be subject
<br />2t
<br />to redemption and prepayment at the option of the City, in whole or in part, in such order of
<br />maturity dates as the City may select and, within a maturity, by lot as selected by the Registrar
<br />(or, if applicable, by the bond depository in accordance with its customary procedures) in
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