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5. The City shall forthwith issue and sell the Bonds in the prin- <br />cipal amount of $170,000 dated September 1, 1983, the Bonds being 34 in <br />number and numbered 1 to 34, both inclusive, in the denomination of $5,000 <br />each, bearing interest as above set forth, and which Bonds mature serially <br />on December 1 in the years and amounts as follows: <br /> <br />1984 - 1989 $15,000 <br />1990 - 1993 $20,000 <br /> <br /> Ail Bonds of this issue maturing after December 1, 1990 are subject to <br />prior redemption, at the option of the City, in inverse order of serial <br />numbers on said date and any interest payment date thereafter at a price of <br />par plus accrued interest, plus a premium of 1/2 of 1% of the par value <br />thereof. <br /> <br /> 6. The Bonds shall be issuable only in fully registered form. The <br />interest thereon and, upon surrender of each Bond, the principal amount <br />thereof shall be payable by check or draft issued by the Registrar <br />described herein. <br /> <br /> 7. Dates; Interest Payment Dates. Each Bond shall be dated as of <br />the last interest payment date preceding the date of authentication to <br />which interest on the Bond has been paid or made available for payment, <br />unless (i) the date of authentication is an interest payment date to which <br />interest has been paid or made available for payment, in which case such <br />Bond shall be dated as of the date of authentication, or (ii) the date of <br />authentication is prior to June 1, 1984, in which case such Bond shall be <br />dated as of September 1, 1983. The interest on the Bonds shall be payable <br />on June 1 and December 1 in each year, commencing June 1, 1984, to the <br />owner of record thereof as of the close of business on the fifteenth day of <br />the immediately preceding month, whether or not such day is a business day. <br /> <br /> 8. Registration. The City shall appoint, and shall maintain, a bond <br />registrar, transfer agent, authenticating agent and paying agent (Regis- <br />trar). The effect of registration and the rights and duties of the City <br />and the Registrar with respect thereto shall be as follows: <br /> <br /> (a) Register. The Registrar shall keep at its principal corpo- <br />rate trust office a bond register in which the Registrar shall provide <br />for the registration of ownership of Bonds and the registration of <br />transfers and exchanges of Bonds entitled to be registered, trans- <br />ferred or exchanged. <br /> <br /> (b) Transfer of Bonds. Upon surrender for transfer of any Bond <br />duly endorsed by the registered owner thereof or accompanied by a <br />written instrument of transfer, in form satisfactory to the Registrar, <br />duly executed by the registered owner thereof or by an attorney duly <br />authorized by the registered owner in writing, the Registrar shall <br />authenticate the deliver, in the name of the designated transferee or <br />transferees, one or more new Bonds of a like aggregate principal <br />amount and maturity, as requested by the transferor. The Registrar <br /> <br /> <br />