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multiple thereof, of single maturities, shall mature on February 1 in the years and amounts stated
<br />below, and shall bear interest from date of issue until paid or duly called for redemption, at the
<br />annual rates set forth opposite such years and amounts, as follows:
<br />Year
<br />Principal
<br />Rate
<br />Year
<br />Principal
<br />Rate
<br />2027
<br />$160,000
<br />5.000%
<br />2032
<br />$205,000
<br />5.000%
<br />2028
<br />170,000
<br />5.000
<br />2033
<br />215,000
<br />5.000
<br />2029
<br />180,000
<br />5.000
<br />2034
<br />230,000
<br />5.000
<br />2030
<br />190,000
<br />5.000
<br />2035
<br />235,000
<br />4.000
<br />2031
<br />195,000
<br />5.000
<br />The Bonds shall be issuable only in fully registered form. The interest thereon and, upon surrender
<br />of each Bond, the principal amount thereof shall be payable by check or draft issued by the
<br />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 the
<br />Bonds shall be payable on February 1 and August 1 in each year, commencing August 1, 2025,
<br />each such date being referred to herein as an Interest Payment Date, to the persons in whose names
<br />the Bonds are registered on the Bond Register, as hereinafter defined, at the Registrar's close of
<br />business on the fifteenth day of the calendar month preceding that in which such Interest Payment
<br />Date occurs, whether or not such day is a business day. Interest shall be computed on the basis of
<br />a 360-day year composed of twelve 30-day months.
<br />2.04. Redemption. Bonds maturing on or after February 1, 2034, shall be subject to
<br />redemption and prepayment at the option of the City, in whole or in part, in such order of maturity
<br />dates as the City may select and, within a maturity, by lot as selected by the Registrar (or, if
<br />applicable, by the bond depository in accordance with its customary procedures) in integral
<br />multiples of $5,000, on February 1, 2033, and on any date thereafter, at a price equal to the
<br />principal amount thereof and accrued interest to the date of redemption. The City Clerk shall cause
<br />notice of the call for redemption thereof to be published if and as required by law, and at least
<br />thirty (30) and not more than sixty (60) days prior to the designated redemption date, shall cause
<br />notice of call for redemption to be mailed, by first class mail, to the Registrar and registered holders
<br />of any Bonds to be redeemed at their addresses as they appear on the Bond Register described in
<br />Section 2.06 hereof, provided that notice shall be given to any securities depository in accordance
<br />with its operational arrangements. No defect in or failure to give such notice of redemption shall
<br />affect the validity of proceedings for the redemption of any Bond not affected by such defect or
<br />failure. Official notice of redemption having been given as aforesaid, the Bonds or portions of
<br />Bonds so to be redeemed shall, on the redemption date, become due and payable at the redemption
<br />price therein specified and from and after such date (unless the City shall default in the payment
<br />of the redemption price) such Bonds or portions of Bonds shall cease to bear interest. Upon partial
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