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<br /> * The holder hereof shall never have the right to demand payment <br /> of this obligation out of any funds raised or to be raised by <br /> taxation. <br /> * The City has reserved the option to redeem the Bonds maturing <br /> on and after January I, 2002, before their respective scheduled <br /> maturity in whole or in part in integral multiples of $5,000 on <br /> January I, 2001, or on any date thereafter, at a price equal to the <br /> principal amount of the Bonds so called for redemption plus accrued <br /> interest to the redemption date. If less than all of the Bonds are <br /> to be redeemed, the City shall determine the amounts thereof to be <br /> redeemed and shall direct the Paying Agent/Registrar to call by lot <br /> Bonds, or portions thereof within such maturity or maturities and in <br /> such amounts, for redemption. <br /> * Notice of such redemption or redemptions shall be sent by <br /> United States ma i I, first class postage prepaid, not less than 30 <br /> days before the date fixed for redemption, to the registered owner <br /> of each of the Bonds to be redeemed in who le or in part. Notice <br /> having been so given, the Bonds or portions thereof designated for <br /> redemption shall become due and payable on the redemption date <br /> specified in such notice, and from and after such date, <br /> notwithstanding that any of the Bonds or portions thereof so called <br /> for redemption shall not have been surrendered for payment, interest <br /> on such Bonds or portions thereof shall cease to accrue. <br /> * As provided in the Ordinance, and subject to certain <br /> limitations therein set forth, this Bond is transferable upon <br /> surrender of this Bond for transfer at the Paying Agent/Registrar <br /> Office, with such endorsement or other evidence of transfer as is <br /> acceptable to the Paying Agent/Registrar, and, thereupon, one or <br /> more new fully registered Bonds of the same stated maturity, of <br /> authorized denominations, bearing the same rate of interest, and for <br /> the same aggregate principal amount will be issued to the designated <br /> transferee or transferees. <br /> * The City, the Paying Agent/Registrar, and any other person may <br /> treat the person in whose name this Bond is registered as the owner <br /> hereof for the purpose of receiving payment as herein provided <br /> (except interest shall be paid to the person in whose name this Bond <br /> is registered on the Record Date or Special Record Date, as <br /> applicable) and for all other purposes, whether or not this Bond be <br /> overdue, and neither the City nor the Paying Agent/Registrar shall <br /> be affected by notice to the contrary. <br /> * IT IS HEREBY CERTIFIED AND RECITED that the issuance of this <br /> Bond and the series of which it is a part is duly authorized by law; <br /> that all acts, conditions and things required to be done precedent <br /> to and in the issuance of the Bonds have been properly done and <br /> performed and have happened in regular and due time, form and <br /> manne r, as required by law; and that the total indebtedness of the <br /> City, including the Bonds, does not exceed any constitutional or <br /> statutory limitation. <br /> 4322f <br /> -20- <br />