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24 <br />The portion of the Bonds maturing in the following years and amounts constitute the <br />Improvement Bonds: <br />Year Amount Year Amount <br />2011 <br />$140,000 <br />2019 <br />$175,000 <br />2012 <br />140,000 <br />2020 <br />185,000 <br />2013 <br />145,000 <br />2021 <br />190,000 <br />2014 <br />150,000 <br />2022 <br />200,000 <br />2015 <br />155,000 <br />2023 <br />210,000 <br />2016 <br />160,000 <br />2024 <br />220,000 <br />2017 <br />165,000 <br />2025 <br />225,000 <br />2018 <br />170,000 <br />2025 <br />125,000 <br />The portion of the Bonds maturing in the following years and amounts constitute the <br />Improvement Bonds: <br />Year <br />Amount <br />Year <br />Amount <br />2012 <br />$75,000 <br />2019 <br />$ 95,000 <br />2013 <br />80,000 <br />2020 <br />100,000 <br />2014 <br />80,000 <br />2021 <br />105,000 <br />2015 <br />85,000 <br />2022 <br />110,000 <br />2016 <br />85,000 <br />2023 <br />115,000 <br />2017 <br />90,000 <br />2024 <br />120,000 <br />2018 <br />90,000 <br />2025 <br />125,000 <br />3.02. Interest Payment Dates. Interest on the Bonds shall be payable on February 1 and <br />August 1 in each year, commencing February 1, 2010, 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 <br />preceding month, whether or not such day is a business day. <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 <br />the City and the Registrar with respect thereto shall be as follows: <br />(a) Register. The Registrar shall keep at its principal office a bond register in <br />which the Registrar shall provide for the registration of ownership of Bonds and the <br />registration of transfers and exchanges of Bonds entitled to be registered, transferred or <br />exchanged. <br />(b) Transfer of Bonds. Upon surrender to the Registrar for transfer of any <br />Bond duly endorsed by the registered owner thereof or accompanied by a written <br />instrument of transfer, in form satisfactory to the Registrar, duly executed by the <br />registered owner thereof or by an attorney duly authorized by the registered owner in <br />writing, the Registrar shall authenticate and deliver, in the name of the designated <br />transferee or transferees, one or more new Bonds of a like aggregate principal amount <br />-9- <br />