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1998 35,000 <br />1999 35,000 <br /> <br /> 1 .()4~ ~)iztional Redemption. The City may elect on February 1, 1997 and on any day <br />thereafter to prepay Bonds maturing on or after February 1, 1998. Redemption may be in whole <br />or in part of irc Bonds subject to prepayment. If redemption is in part, those Bonds remaining <br />unpaid wh ich have the latest maturity date will be prepaid first. If only part of the Bonds having a <br />common r:mm ~rity :late are called for prepayment the specific Bonds to be prepaid will be chosen <br />by lot by the Registrar. All payments will be at a price of par plus accrued interest. <br /> <br />Section ~. j~?,gistration and Payment. <br /> <br /> 2.01. ?~_~.~istered Form. The Bonds shall be issued only in fully registered form. The <br />interest there, m and, upon surrender of each Bond, the principal amount thereof, is payable by <br />check or dra~'t i~,;stt~d by the Registrar described herein. <br /> <br /> 2.02. i)ates; Interest Payment Dates. Each Bond will be dated as of the last interest <br />payment date prcct:ding the date of authentication to which interest on the Bond has been paid or <br />made available tot payment, unless (i) the date of authentication is an interest payment date to <br />which interest has been paid or made available for payment, in which case such Bond shall be <br />dated as of the rtal~: of authentication, or (ii) the date of authentication is prior to the first interest <br />payment date., i~ which case such Bond will be dated as of the date of original issue. The interest <br />on the Bond.~; i:~ l~ayable on February 1 and August 1 of each year, commencing August 1, 1990, <br />to the owner ~>1: record thereof as of the close of business on the fifteenth day of the immediately <br />preceding month, whether or not such day is a business day. <br /> <br /> 2.03. .R{;gistration. The City will appoint, and shall maintain, a bond registrar, transfer <br />agent, autheni icati ag agent and paying agent (Registrar). The effect of registration and the rights <br />and duties ot iht:: C~ty and the Registrm- with respect thereto are as follows: <br /> <br /> tla) Register. The Registrar must keep at its principal corporate trust office a <br />bond register i~ wirier the Registrar provides for the registration of ownership of Bonds and the <br />registration ot:' transfers and exchanges of Bonds entitled to be registered, transferred or <br />exchanged. <br /> <br /> ('1)) Transfer of Bonds. Upon surrender for transfer of a Bond duly endorsed <br />by the registered owner thereof or accompanied by a written instrument of transfer, in form <br />satisfactor3, to ~h,z Registrar, duly executed by the registered owner thereof or by an attorney duly <br />authorized by thc _~egistered owner in writing, the Registrar will authenticate and deliver, in the <br />name of the ~le:4ig~ate(t transferee or transferees, one or more new Bonds of a like aggregate <br />principal amount ~md maturity, as requested by the n:ansferor. The Registrar may, however, close <br />the books ~'o~ ~ egistration of any transfer after the fifteenth day of the month preceding each interest <br />payment date aad until such interest payment date. <br /> <br /> (t:) Exchange of Bonds. When Bonds are surrendered by the registered <br />owner for cxch:mg~: the Registrar will authenticate and deliver one or more new Bonds of a like <br />aggregate principal amount and maturity, as requested by the registered owner or the owner's <br />attorney in wri~i~¥,, <br /> <br /> (d) Cancellation. Bonds surrendered upon any transfer or exchange will be <br />promptly cancdicd by the Registrar and thereafter disposed of as directed by the City. <br /> <br /> ((:) .Improper or Unauthorized Transfer. When a Bond is presented to the <br />Registrar for traast~.zr, the Registrar may refuse to transfer the Bond until the Registrar is satisfied <br /> <br /> <br />