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Interest Interest Year Amount Rate Year Amount Rate 2019 $225,000 5.00% 2026 $235,000 5.00% 2020 175,000 5.00% 2027 245,000 5.00% 2021 185,000 5.00% 2031* 1,090,000 4.00% 2022 190,000 5.00% 2035* 1,280,000 4.00% 2023 200,000 5.00% 2038* 1,095,000 4.00% 2024 210,000 5.00% 2043* 2,125,000 3.50% 2025 220,000 5.00% 2048* 2,525,000 3.625% *Term Bonds As may be requested by the Purchaser, one or more term Series 2018A Bonds may be issued having mandatory sinking fund redemption and final maturity amounts conforming to the foregoing principal repayment schedule and corresponding additions may be made to the provisions of the applicable Series 2018A Bond(s). The Series 2018A Bonds shall be issuable only in fully registered form. The interest thereon and, upon surrender of each Series 2018A Bond, the principal amount thereof, shall be payable by check or draft issued by the Registrar. 5.02. Interest Payment Dates. The Series 2018A Bonds shall bear interest payable semiannually on February 1 and August 1 of each year, commencing February 1, 2019, calculated on the basis of a 360-day year of twelve 30-day months to the person in whose name the Series 2018A Bond is registered in the Bond Register at the close of business on the 15th day of the immediately preceding month, whether or not such day is a business day. 5.03. Optional Redemption. The City may elect on August 1, 2028, and on any day thereafter to prepay Bonds due on or after August 1, 2029. Redemption may be in whole or in part and if in part, at the option of the City and in such manner as the City will determine. If less than all Bonds of a maturity are called for redemption, the City will notify DTC (as defined in Section 8 hereof) of the particular amount of such maturity to be prepaid. DTC will determine by lot the amount of each participant's interest in such maturity to be redeemed and each participant will then select by lot the beneficial ownership interests in such maturity to be redeemed. Prepayments will be at a price of par plus accrued interest. 5.04. Term Bonds; Mandatory Redemption. The Bonds maturing in 2031, 2035, 2038, 2043, and 2048 shall hereinafter be referred to collectively as the "Term Bonds." The principal amounts of the Term Bonds subject to mandatory sinking fund redemption on any date may be reduced through earlier optional redemptions, with any partial redemptions of the Term Bonds credited against future mandatory sinking fund redemptions of such Term Bonds in such order as the City shall determine. The Term Bonds are subject to mandatory sinking fund redemption and shall be redeemed in part by lot at par plus accrued interest on the sinking fund installment dates and in the principal amounts as follows: 7 531773v2 JSB EL185-55