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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, 1994, 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 /> 2001 $ 2008 <br /> 2002 2009 <br /> 2003 2010 <br /> 2004 2011 <br /> 2005 2012 <br /> 2006 2013 <br /> 2007 <br /> 5. Redemption. All Bonds maturing after February 1, <br /> 2003, shall be subject to redemption and prepayment at the option <br /> of the City on said date and on any date thereafter at a price of <br /> par plus accrued interest. Redemption may be in whole or in part <br /> of the Bonds subject to prepayment. If redemption is in part, the <br /> City shall select the amount of Bonds of each maturity to be <br /> prepaid; and if only part of the Bonds having a common maturity <br /> date are called for prepayment, the specific Bonds of that maturity <br /> to be prepaid shall be chosen by lot by the Bond Registrar <br /> (hereinafter defined) . Bonds or portions thereof called for <br /> redemption shall be due and payable on the redemption date, and <br /> interest thereon shall cease to accrue from andafter the <br /> redemption date. Published notice of redemption shall in each case <br /> be given if required by applicable law, and mailed notice of <br /> redemption shall be given to the paying agent for the Bonds and to <br /> each affected registered owner of the Bonds. <br /> To effect a partial redemption of Bonds having a common <br /> maturity date, the Bond Registrar, prior to giving notice of <br /> redemption, shall assign to each Bond having a common maturity date <br /> a distinctive number for each $5, 000 of the principal amount of <br /> such Bond. The Bond Registrar shall then select by lot, using such <br /> method of selection as it shall deem proper in its discretion, from <br /> the numbers so assigned to such Bonds, as many numbers as, at <br /> $5, 000 for each number, shall equal the principal amount of such <br /> Bonds to be redeemed. The Bonds to be redeemed shall be the Bonds <br /> to which were assigned numbers so selected; provided, however, that <br /> only so much of the principal amount of each such Bond of a <br /> denomination of more than $5, 000 shall be redeemed as shall equal <br /> $5, 000 for each number assigned to it and so selected. If a Bond <br /> • is to be redeemed only in part, it shall be surrendered to the Bond <br /> 238053 <br /> 4 <br />