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<br />. <br /> <br />. <br /> <br />each in the principal amount set opposite the year of matu- <br />rity in the schedule set forth in Section 3. Bonds regis- <br />tered and delivered in exchange for any of the Initial Bonds <br />surrendered for transfer or exchange shall be numbered from <br />R-21 upward in the order that they are authenticated and de- <br />livered by the Paying Agent/Registrar hereinafter designat- <br />ed. <br /> <br />Section 3: That the Bonds shall bear interest <br />(computed on the basis of a 360-day year of twelve 30-day <br />months) from the later of the Initial Date or the most re- <br />cent date to which interest has been paid or duly provided <br />for, payable March 15, 1986, and each September 15 and <br />March 15 thereafter until the principal sum is paid in full. <br />Payment of interest shall be made to the registered owner of <br />each Bond as shown on the Bond Register provided for in <br />Section 6 hereof as of the last business day of the calendar <br />month next preceding the interest payment date by check or <br />draft mailed by the Paying AgentlRegistrar to the address of <br />each such owner as it appears on such Bond Register on the <br />date aforesaid. The Bonds shall mature and become payable, <br />subject to prior redemption in accordance with the pro- <br />visions of Section 5 hereof, on March 15 in each of the <br />years and in the principal amount set forth in the schedule <br />below, and shall bear interest at the respective rates per <br />annum set forth opposite the year of maturity in said sched- <br />ule, to-wit: <br /> <br />Year of <br />Maturity <br /> <br />Principal <br />Amount <br /> <br />Interest <br />Rate <br /> <br />1986 <br />1987 <br />1988 <br />1989 <br />1990 <br />1991 <br />1992 <br />1993 <br />1994 <br />1995 <br />1996 <br />1997 <br />1998 <br />1999 <br />2000 <br />2001 <br />2002 <br />2003 <br />2004 <br />2005 <br /> <br />$300,000 <br />300,000 <br />300,000 <br />300,000 <br />300,000 <br />300,000 <br />300,000 <br />300,000 <br />300,000 <br />300,000 <br />300,000 <br />300,000 <br />300,000 <br />300,000 <br />300,000 <br />300,000 <br />300,000 <br />300,000 <br />300,000 <br />300,000 <br /> <br />II 00 % <br />{(./M % <br />II IJn % <br />It. 00 % <br />f( . 00 % <br />(1.80 % <br />~% <br />.J.IL..ftL % <br />,.Oll % <br />If.OIJ % <br />f./IJ % <br />1."WJ % <br />~% <br />~'% <br />1.fiJ % <br />~.lIo % <br />,....(% <br />Q.'11 % <br />Cf .0tJ % <br />'1.00 % <br /> <br />(?trrJ <br /> <br />Section 4: That the principal of the Bonds shall <br />be payable, without exchange or collection charges, in any <br />coin or currency of the United States of America which, on <br />the date of payment thereof, is legal tender for the payment <br />of debts due the United States of America, upon their <br />presentation and surrender as they become due or at their <br />earlier redemption date, if any, at the principal office of <br />the Paying Agent/Registrar. <br /> <br />Section 5: That the City reserves the right to <br />redeem "in whole or from time to time in part, all of the <br />Bonds maturing in the years 1996 through 2005 on March 15, <br />1995, or any interest payment date thereafter, by paying the <br /> <br />002RDRAW/193BOl <br /> <br />-2- <br />