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3. Section 2. Bond Terms; Registration; Execution and Delivery. . 2.01. Maturities; Interest Rates; Denominations. The Bonds shall be designated General Obligation Improvement Bonds, Series 1992A, shall be originally dated as of June 1, 1992, shall be in the denomination of $5,000 each, or any integral multiple thereof as requested by the Purchaser, shall mature on February 1 in the respective years and amounts stated below, and shall bear interest from date of issue until paid or duly called for redemption at the respective annual rates set forth opposite such years and amounts, as follows: Ye.az: Amount Rate 1994 $165,000 4 . 15% 1995 $165,000 .i....lQ 1996 $165,000 A.....2...Q 1997 $165,000 .hall 1998 $165,000 .5.....lO. 1999 $150,000 .5........3..D 2000 $150,000 ~ 2001 $150,000 .5....1Jl 2002 $150,000 ~ 2003 $150,000 L.JJl 2004 $155,000 L2.O 2005 $155,000 .L.2.5 2006 $155,000 ~.L.2.5 . 2007 $155,000 .L.2.5 2008 $155,000 .L.2.5 . 2.02. Dates; Interest Payment Dates; Interest and Principal Payment. Each Bond shall be dated as of the last interest payment 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 the date of authentication, or (ii) the date of authentication is prior to February 1, 1993, in which case such Bond shall be dated as of June 1, 1992. Interest on the Bonds shall be payable on February 1 and August 1 in each year, commencing February 1, 1993, to the owner of record thereof as of the close of business on the fifteenth day of the immediately preceding month, whether or not such day is a business day (the Record Date). The Issuer shall appoint, and shall maintain, a bond registrar, transfer agent, and paying agent (the Registrar). Interest shall be paid on each interest payment date by check or draft of the Registrar mailed to the person in whose name the Bond is registered on the registration books of the City maintained by the Registrar and at the address appearing thereon on the Record Date. Principal of any Bond, at maturity or earlier redemption, is payable on presentation and surrender of the Bond at the main corporate office of the Registrar, acting as paying agent.