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<br />Section 2. That said certificates shall be sold for cash and <br /> <br />the proceeds thereof shall be used only for the purpose or purposes <br /> <br />for which the same are authorized. <br /> <br />i I <br /> <br />Section 3. That said certificates shall be numbered from 1 to <br /> <br />3, inclusive, and shall be in the denomination of Five Thousand <br /> <br />Dollars ($5,000) each, aggregating Fifteen Thousand Dollars ($15,000). <br />Section 4. That the certificates shall be dated by the Registrar <br /> <br />of the certificates on the records of registration of said City and <br /> <br />on the Registration Legend on or attached to the certificates and <br />shall bear interest from said date until paid at the rate of six <br />per cent (6%) per annum, with interest payable on March 1, 1973, <br />and semi-annually thereafter on september 1 and March 1 in each year. <br />Section 5. That the certificates shall mature on March 1 in <br /> <br />each of the years as follows: <br /> <br />I <br /> <br />MATURITY DATES <br />(Inclusive) <br /> <br />1973 to 1975 <br /> <br />AMOUNTS <br />(Per Year) <br />$ 5,000 <br /> <br />The City reserves the right to redeem said certificates at any time <br />after their date by paying principal and accrued interest thereon, <br />and in the event said certificates, or any of them, are called for <br />redemption prior to maturity, notice thereof in writing shall be <br />mailed by the City Secretary to the registered owner of said cer- <br />tificates at least thirty (30) days prior to the date fixed for <br /> <br />redemption and any of said certificates not presented for redemption <br />shall cease to bear interest from and after the date so fixed for <br /> <br />I <br /> <br />their redemption. Such notification may be waived by the registered <br />owner of said certificates, and same shall not affect the cessation <br />of interest as herein provided. <br />Section 6. The City Secretary shall be Registrar of the cer- <br />tificates and shall keep a record of same. The principal of and <br />interest on the certificates shall be payable to the registered <br /> <br />owner as shown on the records of the Registrar. The City Secretary <br /> <br />shall cause a check or draft of the City to be issued against the <br /> <br /> <br />depository bank to pay the principal of and interest on the cer- <br /> <br /> <br />tificates as same become due. A registration legend shall appear <br /> <br />- 2 - <br />