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2.02. Maturities; Interest Rates; Denominations and Payment. The Bonds shall be
<br />originally dated as of the date of issuance thereof, shall be in the denomination of $5,000 each, or
<br />any integral multiple thereof, of single maturities, shall mature on February 1 in the years and
<br />amounts stated below, and shall bear interest from date of issue until paid or duly called for
<br />redemption, at the annual rates set forth opposite such years and amounts, as follows:
<br />Year
<br />2024
<br />2025
<br />2026
<br />2027
<br />2028
<br />2029
<br />2030
<br />Principal
<br />$150,000
<br />150,000
<br />155,000
<br />160,000
<br />160,000
<br />165,000
<br />165,000
<br />Rate
<br />3.000%
<br />3.000
<br />3.000
<br />3.000
<br />3.000
<br />3.000
<br />3.000
<br />Year Principal Rate
<br />2032
<br />$350,000
<br />3.000%
<br />2034
<br />320,000
<br />3.100
<br />2036
<br />295,000
<br />3.200
<br />2038
<br />315,000
<br />3.250
<br />The Bonds shall be issuable only in fully registered form. 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 Payment 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 February 1 and August 1 in each year, commencing
<br />February 1, 2023, 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 fifteenth day of the calendar month preceding that in
<br />which such Interest Payment Date occurs, whether or not such day is a business day. Interest
<br />shall be computed on the basis of a 360-day year composed of twelve 30-day months.
<br />2.04. Redemption. Bonds maturing on or after February 1, 2032, shall be subject to
<br />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
<br />integral multiples of $5,000, on February 1, 2031, and on any date thereafter, at a price equal to
<br />the principal amount thereof and accrued interest to the date of redemption. The City Clerk shall
<br />cause notice of the call for redemption thereof to be published if and as required by law, and at
<br />least thirty (30) and not more than sixty (60) days prior to the designated redemption date, shall
<br />cause notice of call for redemption to be mailed, by first class mail, to the Registrar and
<br />registered holders of any Bonds to be redeemed at their addresses as they appear on the Bond
<br />Register described in Section 2.06 hereof, provided that notice shall be given to any securities
<br />depository in accordance with its operational arrangements. No defect in or failure to give such
<br />notice of redemption shall affect the validity of proceedings for the redemption of any Bond not
<br />affected by such defect or failure. Official notice of redemption having been given as aforesaid,
<br />4876-8449-2315\4
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