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settlement can be arranged with the Purchaser), shall be a single, <br />fully registered obligation without interest coupons, shall bear <br />interest payable on February 1, 2001, and semiannually thereafter <br />on each August 1 and February 1, and shall mature and bear interest <br />as provided in the form of the Certificate set out in paragraph 5 <br />of this Resolution. <br /> The Certificate shall be subject to redemption in whole or in <br />part at the option of the City at any time, in inverse order of the <br />principal maturities thereof, upon prior written notice to the <br />Registered Owner thereof, at par plus accrued interest to date of <br />redemption. Interest on the Certificate shall be calculated on the <br />basis of a 360-day year consisting of 12 months of 30 days each. <br /> 4. Both principal of and interest on the Certificate shall <br />be payable by the City Finance Director, who shall also act as <br />registrar and transfer agent (the ,,Certificate Registrar") for the <br />Certificate. <br /> 5. The Certificate shall be substantially the following <br /> form: <br /> <br />1214032.1 <br /> <br /> <br />