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.'- -' ........-. . _.- ..-..... e I......---.~ -, .. /'11 '. -- e 51-60 February 15, 1977 $10,000.00 The City expressly reserves the right to redeem Bonds Nos. 30 to 60, both inclusive, of this issue, in whole or in part, on February 15, 1970, or on any interest payment date thereafter, by paying to the owners and holders thereof a price equal to the principal amount of the bonds redeemed plus unpaid accrued interest to the date fixed for redemption. Notice of the exercise of the option to redeem shall be given in writing to the bank at which said bonds are payable and by publication of such notice one time in a financial journal of general cir- culation in the United States of America, which notice shall be published and mailed at least thirty (30) days prior to the date fixed for redemption in the manner prescribed, and when due pro- vision has been made to pay the principal and unpaid accrued interest to the date fixed for redemption, the right of the owners and holders to collect interest which would otherwise accrue after the redemption date on the bonds called for redemption shall termi- nate on the date fixed for redemption. Section 3: That said bonds shall bear interest at the following rates: Bonds Nos. 1 to 17, both inclusive, at the rate of 2 3/4 percent per annum, Bonds Nos. 18 to 35, both inclusive, at the rate of 3t percent per annum, and Bonds Nos. 36 to 60, both in- elusive, at the rate of 3~ percent per annum, interest payable February 15, 1956, and semi-annually thereafter on August 15th and February 15th C?f each year, until., the PFincipal sum thereof shall have been paid. Both principal and interest on said bonds shall be payable in lawful money of the United States of America at The First National Bank, La Porte, Texas, and interest falling due on and prior to maturity shall be payable only upon presenta- tion and surrender of the interest coupons attached to said bonds as they severally become due. /'