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4 . Interest. The Bonds shall bear interest payable <br /> semiannually on February 1 and August 1 of each year (each, an <br /> "Interest Payment Date") , commencing February 1, 1995, calculated <br /> on the basis of a 360-day year consisting of twelve 30-day months, <br /> at the respective rates per annum set forth opposite the maturity <br /> years as follows: <br /> Maturity Interest Maturity Interest <br /> Year Rate Year Rate <br /> 1997 $ 2001 % <br /> 1998 2002 <br /> 1999 2003 <br /> 2000 <br /> 5. Redemption. The Bonds shall not be subject to redemption <br /> and prepayment by the City prior to their respective stated <br /> maturity dates. <br /> 6. Bond Registrar. <br /> , in <br /> is appointed to act as bond registrar and transfer agent with <br /> respect to the Bonds (as used in this Resolution, the "Bond <br /> Registrar") , and shall do so unless and until a successor Bond <br /> Registrar is duly appointed, all pursuant to any contract the City <br /> and Bond Registrar shall execute which is consistent with this <br /> Resolution. The Bond Registrar shall also serve as paying agent <br /> unless and until a successor paying agent is duly appointed. <br /> Principal of and interest on the Bonds shall be paid to the <br /> registered owners of the Bonds in the manner set forth in the form <br /> of Bond and paragraph 12 of this Resolution. <br /> 7. Form of Bond. The Bonds, together with the Bond <br /> Registrar' s Certificate of Authentication, the form of Assignment <br /> and the registration information thereon, shall be in substantially <br /> the following form: <br /> 262142.1 4 <br />