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• and amounts set forth below, and Bonds maturing in such years and amounts shall bear interest from <br /> date of issue until paid or duly called for redemption at the rates per annum set forth opposite such <br /> years and amounts as follows: <br /> Year Amount Rate Year Amount Rate <br /> 2002 $ 80,000 4.70 % 2009 $115,000 5.10 % <br /> 2003 85,000 4.80 2010 120,000 5.15 <br /> 2004 90,000 4.85 2011 125,000 5.20 <br /> 2005 95,000 4.90 2012 135,000 5.30 <br /> 2006 100,000 4.90 2013 140,000 5.40 <br /> 2007 105,000 5.00 2014 150,000 5.50 <br /> 2008 110,000 5.00 2015 160,000 5.60 <br /> The Bonds shall be issuable only in fully registered form, of single maturities. The <br /> interest thereon and, upon surrender of each Bond at the principal office of the Registrar described <br /> herein, the principal amount thereof, shall be payable by check or draft issued by the Registrar. Each <br /> Bond shall be dated by the Registrar as of the date of its authentication. <br /> 3.02. Interest Payment Dates. Interest on the Bonds shall be payable on February 1 <br /> • and August 1 in each year, commencing February 1, 2001 , to the owners thereof as such appear of <br /> record in the bond register as of the close of business on the fifteenth day of the immediately preceding <br /> month, whether or not such day is a business day. Interest on the Bonds will be computed on the basis <br /> of a 360-day year consisting of twelve 30-day months and will be rounded pursuant to the rules of the <br /> Municipal Securities Rulemaking Board. <br /> 3.03. Registration. The City shall appoint, and shall maintain, a bond registrar, transfer <br /> agent and paying agent (the Registrar). The effect of registration and the rights and duties of the City <br /> and the Registrar with respect thereto shall be as follows: <br /> (a) Re ig stet. The Registrar shall-keep at its principal office a bond register in which the <br /> Registrar shall provide for the registration of ownership of Bonds and the registration of <br /> transfers and exchanges of Bonds entitled to be registered, transferred or exchanged. <br /> (b) Transfer of Bonds. Upon surrender to the Registrar for transfer of any Bond duly <br /> endorsed by the registered owner thereof or accompanied by a written instrument of transfer, in <br /> form satisfactory to the Registrar, duly executed by the registered owner thereof or by an <br /> attorney duly authorized by the registered owner in writing, the Registrar shall authenticate and <br /> deliver, in the name of the designated transferee or transferees, one or more new Bonds of a <br /> like aggregate principal amount and maturity, as requested by the transferor. The Registrar <br /> • -8- <br />