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4. Interest. The Certificates shall bear interest payable semiannually on June 15 and <br />December 15 of each year (each, an "Interest Payment Date"), commencing June 15, 2006, <br />calculated on the basis of a 360-day year of twelve 30-day months, at the respective rates per <br />annum set forth opposite the maturity years as follows: <br /> <br />Maturity Interest <br />Year Rate <br /> <br />2006 % <br />2007 <br />2008 <br />2009 <br />2010 <br /> <br /> 5. No Redemption. The Certificates shall not be subject to redemption and <br />prepayment prior to their maturity. <br /> <br /> 6. Registrar. Northland Trust Services, Inc., in Minneapolis, Minnesota, is <br />appointed to act as registrar and transfer agent with respect to the Certificates (the "Registrar"), <br />and shall do so unless and until a successor Registrar is duly appointed, all pursuant to any <br />contract the City and Registrar shall execute which is consistent herewith. The Registrar shall <br />also serve as paying agent unless and until a successor paying agent is duly appointed. Principal <br />and interest on the Certificates shall be paid to the registered holders (or record holders) of the <br />Certificates in the manner set forth in the form of Certificate and paragraph 12. <br /> <br /> 7. Form of Certificate. The Certificates, together with the Registrar's Certificate of <br />Anthentication, the form of Assignment and the registration information thereon, shall be in <br />substantially the following form: <br /> <br />5 <br /> <br /> <br />