53-91 $1mil Sanitary Sewer Special Obligation Notes

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year principal Amount to be Redeeme~ 2002 $ 2003 2004 2005 2006 2007 2008 2009 2010 If '~retired in the above-stated amounts only by such mandatory redemption prior to their stated maturity, there would remain $ principal amount of the Bonds maturing December 1, 2011 to be paid at maturity. The Bonds maturing after December 1, 19__ are subject to redemption, by and at the option of the Issuer, either ~-~ whole at any time or in part on any Interest Payment Date on or after December 1, 19 , in integral multiples of $5,000, at redemption prices equal to the followng~rcentages of the principal smount redeemed, plus in each case interest accrued to the redemption dater Redemption Dates {Dates Inclusive) Redemption Prices December 1, through November 30, % December 1, -- through November 30, % December 1, -- through November 30, % December 1, and thereafter The principal of and interest on the Bonds (the "Bond Service Charges") payable, whether at maturity or by mandatory sinking fund redemption, in any fiscal year ending December 31 (a "Bond Year") shall be not more than three times the Bond Service Charges payable in any other Bond Year in which principal is payable. The Bonds will originally be issued as fully registered bonds under a book-entry system with no distribution or right of distribution of the Bonds to the ultimate purchasers, in accordance with the provisions set forth in the Bond Legislation and also as described in the Preliminary Official Statement. The Depository Trust Company, New York, New York, ("DTC"), will act as depository (the "Depository") for the book-entry system. So long as the Bonds are held in a book-entry system, the principal of the Bonds is payable when due to the Depository or its authorized representative upon presentation and surrender of the Bonds at the principal corporate trust office of the Registrar. Interest thereon is payable on each Interest Payment Date in next day or federal funds by check or wire transfer delivered or transmitted to the Depository or its nominee, without deduction for the services of the Registrar or any paying agent. Unless paid from other sources and subject to the provisions of Chapter 9 of the Federal Bankruptcy Act and other laws affecting creditors' rights, the Bond Service Charges on the Bonds, are to be paid equally and ratably from Levy. The payment of the Bond Service Charges on the Bonds is payable from and to be secured by a pledge of and lien on.the proceeds of a two (2) mill ad valorem property tax levy (to the extent necessary to pay principal of and any premium and interest on the Bonds due in a specific year), levied pursuant to Article XIV, Section 32 of the City's Charter (the "Levy"). Pursuant to the Charter the use of the Levy proceeds is restricted to Utility purposes. THE BONDS ARE NOT GENERAL OBLIGATION BONDS OF THE CITY AND THE FULL FAITH ANDCREDIT OF THE CITY IS NOT PLEDGED FOR PAYMENT. -2-