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<br />MATURITY DATE: MARCH 15
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<br />YEARS
<br />1992
<br />1993
<br />1994
<br />1995
<br />1996
<br />1997
<br />1998
<br />
<br />AMOUNTS
<br />$ 15,000
<br />15,000
<br />15,000
<br />20,000
<br />365,000
<br />360,000
<br />355,000
<br />
<br />YEARS
<br />1999
<br />2000
<br />2001
<br />2002
<br />2003
<br />2004
<br />2005
<br />
<br />AMOUNTS
<br />$345,000
<br />340,000
<br />335,000
<br />325,000
<br />320,000
<br />310,000
<br />305,000
<br />
<br />SECTION 3. RIGHT OF PRIOR REDEMPTION. The City reserves
<br />the right to redeem the Bonds maturing on or after March 15, 2000, in
<br />whole or in part in principal amounts of $5,000 or any integral multiple
<br />thereof, on March 15, 1999, or on any date selected by the City thereafter,
<br />at the redemption prices, on the dates, and in the manner described in the
<br />FORM OF BOND set forth in this Ordinance
<br />
<br />SECTION 4. INTEREST. The Bonds scheduled to mature during
<br />the years, respectively, set forth below shall bear interest at the following
<br />rates per annum:
<br />
<br />maturities 1992, 5.00% maturities 1999, 6.25%
<br />maturities 1993, 5.25% maturities 2000, 6.30%
<br />maturities 1994, 5.50% maturities 2001, 6".40%
<br />maturities 1995, 5.70% maturities 2002, 6.50%
<br />maturities 1996, 5.90% " maturities 2003, 6.50%
<br />maturities 1997, 6.00% maturities 2004, 6.70%
<br />maturities 1998, 6.10% maturities 2005, 6.70%
<br />
<br />payable September 15, 1991, and semiannually thereafter on March 15 and
<br />September 15 of each year. Said interest shall be payable to the registered
<br />owner of any such Bond in the manner provided in the FORM OF BOND set
<br />forth in this Ordinance.
<br />
<br />SECTION 5. CHARACTERISTICS OF THE BONDS. (a) Ree;istra-
<br />tion, Transfer, and Exchane:e; Authentication. The Issuer shall keep or
<br />cause to be kept at the principal corporate trust office of First City, Texas
<br />_ Houston, N .A., Houston, Texas (the "Paying Agent/Registrar") books or
<br />records for the registration of the transfer and exchange of the Bonds (the
<br />"Registration Books"), and the Issuer hereby appoints the Paying
<br />Agent/Registrar as its registrar and transfer agent' to keep such books or
<br />records and make such registrations of transfers and exchanges under such
<br />reasonable regulations as the Issuer and Paying Agent/Registrar may pre-
<br />scribe; and the Paying Agent/Registrar shall make such registrations,
<br />transfers, and exchanges as herein provided. The Mayor and the City
<br />Secretary are authorized to enter into a Paying Agent/Registrar Agreement
<br />substantially in the form of Exhibit A, attached hereto. The Paying
<br />Agent/Registrar shall obtain and record in the Registration Books the
<br />address of the registered owner of each Bond to which payments with
<br />respect to the Bonds shall be mailed, as herein provided; but it shall be the
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