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delivery, in the denomination of $5,000 each or any integral multiple thereof, numbered No. R-1
<br />upward, bearing interest as above set forth, and maturing serially on December 1 in the years and
<br />amounts as follows:
<br />
<br />Year Amount Year Amount
<br />
<br />2020 $ 605,000 2033 $1,390,000
<br />2021 870,000 2034 1,450,000
<br />2022 905,000 2035 1,490,000
<br />2023 940,000 2036 1,535,000
<br />2024 980,000 2037 1,585,000
<br />2025 1,015,000 2038 1,630,000
<br />2026 1,060,000 2039 1,685,000
<br />2027 1,100,000 2040 1,740,000
<br />2028 1,145,000 2041 1,795,000
<br />2029 1,190,000 2042 1,855,000
<br />2030 1,240,000 2043 1,920,000
<br />2031 1,285,000 2044 1,985,000
<br />2032 1,340,000
<br />
<br /> 1.05. Optional Redemption. The City may elect on December 1, 2028, and on any day
<br />thereafter to prepay Bonds due on or after December 1, 2029. Redemption may be in whole or in part
<br />and if in part, at the option of the City and in such manner as the City will determine. If less than all
<br />Bonds of a maturity are called for redemption, the City will notify DTC (as defined in Section 7 hereof)
<br />of the particular amount of such maturity to be prepaid. DTC will determine by lot the amount of each
<br />participant’s interest in such maturity to be redeemed and each participant will then select by lot the
<br />beneficial ownership interests in such maturity to be redeemed. Prepayments will be at a price of par
<br />plus accrued interest.
<br />
<br /> Section 2. Registration and Payment.
<br />
<br /> 2.01. Registered Form. The Bonds will be issued only in fully registered form. The interest
<br />thereon and, upon surrender of each Bond, the principal amount thereof, is payable by check or draft
<br />issued by the Registrar described herein.
<br />
<br /> 2.02. Dates; Interest Payment Dates. Each Bond will be dated as of the last interest payment
<br />date preceding the date of authentication to which interest on the Bond has been paid or made available
<br />for payment, unless (i) the date of authentication is an interest payment date to which interest has been
<br />paid or made available for payment, in which case the Bond will be dated as of the date of
<br />authentication, or (ii) the date of authentication is prior to the first interest payment date, in which case
<br />the Bond will be dated as of the date of original issue. The interest on the Bonds is payable on June 1
<br />and December 1 of each year, commencing June 1, 2020, to the registered owners of record thereof as
<br />of the close of business on the fifteenth day immediately preceding each interest payment date, whether
<br />or not such day is a business day.
<br />
<br /> 2.03. Registration. The City will appoint a bond registrar, transfer agent, authenticating agent
<br />and paying agent (the “Registrar”). The effect of registration and the rights and duties of the City and
<br />the Registrar with respect thereto are as follows:
<br />
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