10-82 Issue Hospital Improvement Bonds

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date next preceding the date of its authentication or as of the same date as the coupon bonds if authenticated prior to the first interest payment date; provided, however, that if, at the time of authentication of a fully registered Series 1982 Bond, interest is in default, such Series 1982 Bond shall be dated as of the date to which interest has been paid. The Series 1982 Bonds shall bear interest payable semi-annually on tlte first day of each February and August of each year, beginning August 1, 1982 until the principal sum is paid, at a rate or rates per annum to be determined by the Executive and the Fiscal Officer, with interest at the same respective rate on any overdue principal, and, to the extent that payment of such interest is enforceable under applicable law, on any overdue installment of interest; provided, however, that tile rate of interest payable on any Series 1982 Bond shall no~ exceed sixteen per cent (16~) per annum. The principal of the Sermes 1982 Bonds shall mature on the first day of Februrary, in each of the years and il! the principal amounts set opposite the respective years as follows: Amount to be Amount to be Year Retired Year Retired 1985 1986 1987 1988 1989 1990 $ 75 000 80 000 90 000 i00 000 1!5 000 125 000 The Series 1991 $ 140,000 1992 160,000 1993 180,000 199~ 200,000 200~ 4,535,000 201~ 17,950,000 1982 Bonds maturing on or after February !, 1993, shall be subject to redemption at the option of the Issuer in whole or in part on any interest payment date on or after February 1, 1992, at redemption prices equal to the following percentages of the principal amount redeemed, plus accrued interest to the date fixed for redemption: -7-