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March 24, 1993
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<br /> If any Bond (or any portion of the principal mount thereof in installments of
<br />$5,000) shall be called for redemption, notice of the redemption thereof, specifying the date,
<br />number and maturity of such Bond, the date and place or places fixed for its redemption, the
<br />prcm~ium, if any, payable upon such redemption, and if less than the entire principal amount of
<br />such Bond is to be redeemed, that such Bond must be surrendered in exchange for the principal
<br />amount thereof to be redeemed and a new Bond or Bonds issued equalling in principal amount
<br />that portion of the principal amount thereof not to be redeemed, shall be mailed not less than
<br />thirty 00) days prior to. the date fixed for redemption by fn'st class mail, postage prepaid, to the~
<br />registered owner of such Bond at his address as it appears on the books of registry kept by the
<br />Director of Finance of the City, as the Registrar and Paying Agent for the Bonds (the
<br />"Registrar"), as of the close of business on the forty-fifth (45th) day next preceding the date
<br />fixed for redemption. If notice of the redemption of any Bond shall have been given as
<br />aforesaid, and payment of the principal amount of such Bond (or the portion of the principal
<br />amount thereof to be redeemed) and of the accrued interest and premium, if any, payable upon
<br />such redemption shall have been duly made or provided for, interest on such Bond shall cease
<br />to accrue from and after the date so specified for the redemption thereof.
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<br /> 2. The principal of and premium, if any, and interest on the Bonds shall be
<br />payable in such coin or currency of the United States of America as at the respective dates of
<br />payment is legal tender for public and private debts. The principal of and premium, if any, on
<br />the Bonds shall be payable at the office of the Registrar. The interest on the Bonds shall be pa, id
<br />by check mailed by the Registrar m the registered owners of record of the Bonds as of the
<br />fifteenth (tSth) day of the calendar month next ~ureceding each interest payment date.
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<br /> At all times during which any Bond remains outstanding and unpaid, the Registrar
<br />shall keep, or cause m be kept, at its principal office books of registry for the registration,
<br />exchange and transfer of the Bonds. Upon presentation at its office for such purpose, the
<br />Registrar, under such reasonable regulations as it may prescribe, shall register, exchange or
<br />transfer, or cause m be registered, exchanged or transferred, on the books of registry the Bonds
<br />as herein s~ forth.
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<br /> The books of registry shall at all times be ot~n for inspection by the City or any
<br />duly authorized officer thereof.
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<br /> Any Bond may be exchanged at the office of the Registrar for a like aggregate
<br />princilml mount of such Bonds in other authorized principal amounts of the same interest rate
<br />and maturity.
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<br /> Any Bond may, in accordance with its terms, be transferred upon the books of
<br />registry by the person in whose ,a,-e it is registered, in person or by his duly authorized agent,
<br />upon surrender of such Bond to the Registrar for cancellation, accompanied by a written
<br />instrument of transfer duly e0recuted by the registered owner in person or his duly authorized
<br />agent, in form satisfactory to the Registrar.
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<br /> All transfers or exchanges of Bonds shall be made without expense to 'the
<br />registered owners of such Bonds. except as otherwise herein provided, mud except that the
<br />Registrar shall require the payment by the registered owner of a Bond requesting such transfer
<br />or exchange of any tax or other governmental charges required to be paid with respect to such
<br />transfer or exchange. Ail Bonds surrendered for transfer or exchange shall be cancelled.
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<br /> The Bonds shall be issued only in fully registered form without coupons. One
<br />Bond representing each maturity of each issue of the Bonds will be issued to and registered in
<br />the name of Cede & Co., as nominee of The Depository Trust Company, New York, New York
<br />("DTC"), as registered owner of the Bonds and each such Bond shall be immobilized in the
<br />custody of DTC. DTC will act as securities depository for the Bonds. Individual purchases will
<br />be made in book-entry form only, in the principal amount of $5,000 or any integral multiple
<br />thereof. Purchasers will not receive physical delivery of certificates representing their interest
<br />in the Bonds purchased.
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<br /> Principal, premium, if any, and interest payments on the Bonds will be made by
<br />the Director of l:rmance of the City, as Registrar and Paying Agent for the Bonds, to DTC or
<br />its nominee, Cede & Co., as registered owner of the Bonds, which will in turn remit such
<br />payments to the DTC participants for subsequent disbursal to the beneficial owners of the Bonds.
<br />Transfers of principal, premium, if any, and interest payments to DTC participants will be the
<br />responsibility of DTC. Transfers of such payments to beneficial owners of the Bonds by DTC
<br />participants will be the responsibility of such participants and other nominees of such beneficial
<br />owners. Transfers of ownership interests in the Bonds will be accomplished by book entries
<br />made by DTC and, in mm, by the DTC participants who act on behalf of the indirect
<br />participants of DTC and the beneficial owners of the Bonds.
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<br /> The City will not be responsible or liable for sending transaction statements or
<br />for maintaining, supervising or reviewing records maintained by DTC, its participants or persons
<br />acting through such participants or for transmitting payments to, cemmunicating with, notifying,
<br />or otherwise de~llng with any beneficial owner of the Bonds. So long as the Bonds are in book-
<br />entry only-form, the Director of Finance of the City will serve as Registrar and Paying Agent
<br />for the Bonds. The City reserves the right to designate a successor RegisU-ar and Paying Agent
<br />for the Bonds if the Bonds ar any time cease m be in book-entry only form.
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