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<br />executed by the reaiJtcrcd owner or hit duly authorized agent, in fonn ntiJfactory to the Paying Agent!Regiatrar. New Bonds <br />registered and delivered in an exchange or transfer shall be in any integral multiple of $5,000 for anyone maturity and for a like <br />aggregate principal amount as the Bond or Bondi surrendered for exchange or transfer. <br /> <br />Llmitatioa on Transfer of Bonds Caw lor Redemptioll <br /> <br />Neither the City nor the Paying AgentlRegistrar shall be required to transfer or exchange to an assignee of the owner of the Bonds <br />any Bond called for redemption, in whole or in part, within 45 days of the date fixed for redemption; provided, however,such <br />limitation of transfer shall not be applicable to an exchange by the registered owner of the uncalled balance of a Bond. <br /> <br />Record Date lor Interest Payment <br /> <br />The record date ("Rccord Date") for the interest payable on any interest payment date means the close of business on the 15th <br />day of the preceding month, <br /> <br />In the event of a non-payment of intereat on a scheduled payment date, and for 30 days theresfter, a new record date for such <br />interest payment (a "Special Record Date") will be established by the Paying AgentlRegistrar, if and when funds for the payment <br />of luch interest have been received from the City. Notice of the Special Record Date and of the scheduled payment date of the <br />past due interest ("Special Payment Date", which shall be 15 days after the Special Rccord Date) shall be sent at lcut five businesl <br />days prior to the Special Rccord Date by United States mail, first clus postage prepaid, to the address of esch Holder of a Bond <br />appearing on the registration books of the Paying AgentIRegistrar at the close of business on the lut business day next preceding <br />the date of mailing of such notice. <br /> <br />Use of Bond Proceeds <br /> <br />The bond proceeds will be used for (1) the construction of a public horary, (2) improvements to city streets, (3) purchase of fire <br />equipment, and (4) paying for the cost of issuance of the Bondi. <br /> <br />Sources and Uses of Funds <br /> <br />The construction program will be funded as follows: <br /> <br />Sources; <br />Proceeds from Sale of Bonds <br />Investment Earnings from Bond Proceeds <br />Total Sources of Funds <br /> <br />$2,895,000 <br />72,000 <br />~2,967 .000 <br /> <br />Uses: <br />Cost of Public Library <br />Cost of Street Improvements <br />Cost of Firefighting Equipment <br />Estimated Costs of Issuance <br />Total Uses of Funds <br /> <br />$2,440,000 <br />420,000 <br />6S ,000 <br />42.000 <br />~2.967 .000 <br /> <br />6 <br />