Resolution - #89-11-321 - 11/28/1989

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Year Amount 1991 $ 20 1992 20 1993 25 1994 25. 1995 25 1996 25 1997 30 1998 30 1999 35 000 000 000 000 000 000 .000 000 000 1.04. Optional Redemption. The City may elect on February 1, 1997 and on any day thereafIer to prepay Bonds maturing on or after February 1, 1998. Redemption may be in whole or in part of the Bonds subject to prepayment. If redemption is in part, those Bonds remaining unpaid which have the latest maturity date will be prepaid first. If only part of the Bonds having a common ~naturity date are called for prepayment the specific Bonds to be prepaid will be chosen by tot by the Registrar. Prepayments will be at a price of par plus accrued interest. :-;c(:tion 2. Registration and Payment. 2.()1. _R_egistered Form. The Bonds shall be issued only in fully registered form. The interest themtm, and, upon surrender of each Bond, the principal amount thereof, is payable by check or draf! issued by the Registrar described herein. 2.02. Dates; Interest Payment Dates. Each Bond will be dated as of the last interest paymem date preceding the date of authentication to which interest on the Bond has been paid or made available for payment, unless (i) the date of authentication is an interest payment date to which interest has been paid or made available for payment, in which case such Bond shall be dated as of thc date of authentication, or (ii) the date of authentication is prior to the fin'st interest payment date, in which case such Bond will be dated as of the date of original issue. The interest on the Bonds is payable on February 1 and August 1 of each year, commencing August 1, 1990, to the owner o'~ record thereof as of the close of business on the fifteenth day of the immediately preceding momh, whether or not such day is a business day. 2.~)3. Eegistration. The City will appoint, and shall maintain, a bond registrar, transfer agcm, amhenticating agent and paying agent (Registrar). The effect of registration and the rights and dutic:; o~ the City and the Registrar with respect thereto are as follows: (a) Register. The Registrar must keep at its principal corporate trust office a bond register in which the Registrar provides for the registration of ownership of Bonds and the registratio~ ~t' m~nsfers and exchanges of Bonds entitled to be registered, transferred or exchanged. (b) Transfer of Bonds. Upon surrender for transfer of a Bond duly endorsed by thc registered owner thereof or accompanied by a written instrument of transfer, in form satislactmy to the Registrar, duly executed by the registered owner thereof or by an attorney duly authori zed by the registered owner in writing, the Registrar will authenticate and deliver, in the name of the designated transferee or transferees, one or more new Bonds of a like aggregate principal ammmt and maturity, as requested by the transferor. The Registrar may, however, close the books lb~- regis~ ration of any transfer after the fifteenth day of the month preceding each interest payment datr, trod tmtil such interest payment date.