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<br />promulgated by the Securities and Exchange Commission pursuant to the Securities
<br />Exchange Act of 1934. The City Manager is hereby further authorized to execute and deliver
<br />to the Purchaser a Continuing Disclosure Certificate relating to the Bonds evidencing the
<br />City's undertaking to comply with the continuing disclosure requirements of Paragraph (b) of
<br />Rule 15c2-12 in such form as shall be approved by the City Mayor upon advice of counsel
<br />(including the City Attorney or Bond Counsel), such approval by conclusively, evidenced by
<br />his execution thereof.
<br />
<br /> 4. (a) The details of the Bonds as set forth in the Detailed Notice of Sale are hereby
<br />ratified and confirmed. In accordance with the Detailed Notice of Sale, the Bonds shall be
<br />dated June I, 1996; shall be numbered from R-1 consecutively upward in order of issuance;
<br />shall be issue din fully registered form in the denomination of $5,000 each or any integral
<br />multiple thereof, and shall bear interest from their date payable on December 15, 1996 and
<br />semiannually on each June 15 and December 15 thereafter. The Bonds shall mature and
<br />become due and payable on June 15 in each of the years 1997 to 2016, both inclusive, in the
<br />principal amounts set forth opposite each such year below, with the Bonds maturing in each
<br />such year bearing interest at the rate per annum set forth opposite such year, as follows:
<br />
<br />Year Principal Interest Year Principal Interest
<br />(June 15) Amount Rate (June 15) Amount Rate
<br /> 1997 $475,000 5.60% 2007 $475,000 5.05%
<br /> 1998 475,000 5.50 2008 475,000 5.10
<br /> 1999 475,000 5.50 2009 475,000 5.20
<br /> 2000 475,000 5.50 2010 475,000 5.30
<br /> 2001 475,000 5.50 2011 475,000 5.40
<br /> 2002 475,000 5.50 2012 475,000 5.50
<br /> 2003 475,000 5.50 2013 475,000 5.50
<br /> 2004 475,000 5.50 2014 475,000 5.50
<br /> 2005 475,000 5.30 2015 475,000 5.50
<br /> 2006 475,000 5.00 2016 475,000 5.50
<br />
<br /> (b) The Bonds maturing on and after June 15, 2007 (or portions thereof in installments
<br />of $5,000 shall be subject to redemption at the option of the City prior to their stated
<br />maturities, on or after June 15, 2006, in whole or in part from time to time on any date, from
<br />any moneys that may be made available for such purpose, in such order as may be determined
<br />by the City (except that if at any time less than all of the Bonds of a given maturity are called
<br />for redemption, the particular Bonds or portions thereof in installments of $5,000 to be
<br />redeemed shall be selected by lot), upon payment of the following redemption prices
<br />(expressed as a percentage of the principal amount of the Bonds to be redeemed), together
<br />with the interest accrued thereon to the date fixed for the redemption thereof~
<br />
<br />Period During Which Redeemed
<br /> (Both Dates Inclusive)
<br />June 15, 2006 to June 14, 2007
<br />June 15, 2007 to June 14, 2008
<br />June 15, 2008 and thereafter
<br />
<br />Redemption Prices
<br /> (Percentage of
<br />Principal Amount)
<br /> 101%
<br /> 100 1/2
<br /> 100
<br />
<br /> If any bond (or any portion of the principal amount thereof in installments of $5,000)
<br />shall be called for redemption, notice of the redemption thereof, specifying the date, number
<br />and maturity of such Bond, the date and place or places fixed for its redemption, the
<br />premium, if any, payable upon such redemption, and if less than the entire principal amount of
<br />such Bonds is to be redeemed, that such Bonds must be surrendered in exchange for the
<br />principal mount thereof to be redeemed and a new Bond must be surrendered in exchange
<br />for the principal amount thereof to be redeemed and a new Bond or Bonds issued equaling in
<br />principal amount that portion of the principal amount thereof not to be redeemed, shall be
<br />mailed not less than thirty (30 days) prior to the date fixed for redemption by first class mail,
<br />postage prepaid, to the registered owner of such Bond at his address as it appears on the
<br />books of registry kept by the Registrar for the Bonds as of the close of business on the
<br />forty-fifth (45th) day next preceding the date fixed for redemption. If notice of the
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