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fit ~ :.. e e I 'I I I I I The City of La Porte reserves the right to redeem in inverse numerical order, all or any part of said bonds then outstanding on March 15, 1963, or on any interest payment date thereafter by pay- ing to the owners and holders of said bonds the principal thereof plus accrued interest to the date fixed for redemption. If the eity elects to redeem all or any part of said bonds, notice thereo in writing shall be mailed, properly stamped and addressed, to the First National Bank, La Porte, Texas, and shall be published at least one time in a financial journal published in New York, New York, and of general circulation in the United States of America and said notice shall be mailed and published at least thirty (30) days before the date fixed for redemption. l'Jhen said bonds, or any part thereof, have been called for redemption and notice there- of given as herein specified and due provision has been made to re- deem the sa~e, the right of the owners and holders to collect in- terest which would otherwise accrue, shall terminate as of the date fixed for redemption. Section 3: Said bonds shall bear interest from March 15, 1950 a t the follol.'ling rates: Bonds Nos. 1 to 40, both inclusive, at the rate of 2-1/'2% per annum; and Bonds Nos. 41 to 100, both inclusive, at the rate of 2-3/4% per annum, interest payable September 1), 1950 and semi-annually thereafter on March 15th and September 15th in each year until the principal sum is paid. Both principal and interest shall be payable in lawful money of the United States of America at the First National Bank, La Porte, Texas, upon presenta- tion and surrender of the bonds as they severally become due or, as to interest f~lling due on and prior to maturity, upon presentation and surrender of the interest coupons attached t9 said bonds as the severally become due.