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<br />1 <br /> <br />been duly approved by the City Council of said City. <br />Section 3. That said certificates shall be numbered from 1 <br />to 17, inclusive, and shall be in the denomination of Five Thousand <br />Dollars ($5,000) each, aggregating Eighty-five Thousand Dollars <br />($85,000); provided, however, that such certificates shall only <br />be delivered in exchange for claims for a like total principal <br />amount of such certificates with any amount in excess of the <br />principal amount of the certificates delivered at anyone time <br />may be paid in cash or carried forward to a subsequent exchange <br />of claims for certificates, and when all claims have been paid in <br />full or satisfactory settlement has been made for same, the re-' <br />maining certificates, ,if any, may be can~elled and destroyed. <br />Section 4. That the certificates shall be dated by the <br />Registrar of the certificates on the record~ of registration of <br />said City and on the Registration Legend on or attached to the <br />certificates and shall bear interest from said date until paid <br />at the rate of six per cent (6%) per annum, with interest payable <br />on March 1, 1973, and semi-annually thereafter on September 1 and <br />March 1 in each year. <br /> <br />1 <br /> <br />Section 5. That the certificates shall mature on March 1 <br /> <br />in each of the years as follows: <br /> <br />MATURITY DATES <br />(Incllls~ve) <br /> <br />1976 to 1992 <br /> <br />AMOUNTS <br />(Per year) <br /> <br />$ 5,000 <br /> <br />The City reserves the right to redeem said certificates at any <br />time after their date by paying principal and accrued interest <br />thereon, and in the event said certificates, or any of them, are <br />called for redemption prior to maturity, notice thereof in writing <br /> <br />i' , <br /> <br />I <br /> <br />shall be mailed by the City Secretary to the registered owner of <br />said certificates at least thirty (30) days prior to the date <br />fixed for redemption and any of said certificates not presented <br />for redemption shall cease to bear interest from and after the <br />'date so fixed for their redemption. Such notification may be <br />waived by the registered owner of said certificates, and same <br />shall not affect the cessation of interest as herein provided. <br /> <br />- 2 - <br />