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, • , ?"'w, ? <br />2 - ..? <br />Section 2. The Bonds shall be issued in one lot and only as fully <br />registered bonds, in the denominations of $5,000 or any integral multiple <br />thereof, but in no case as to a particular maturity date exceeding the princi- <br />pal amount maturing on that date. The Bonds shall be dated as of September 1, <br />1990. <br />The Bonds shall bear interest at the rate or rates (computed on a <br />360-day per year basis) not exceeding 7-3/4% per year for any stated maturity, <br />as specified in the certificate providing for the award of the Bonds and <br />signed by the Director of Finance in accordance with Section 7 of this <br />ordinance (the "Certificate of Award"); provided that the Bonds of any one <br />maturity shall all bear the same rate of interest. Interest on the Bonds <br />shall be payable on June 1 and December 1 of each year (the Interest Payment <br />Dates), commencing December 1, 1990, until the principal amount has been paid <br />or provided for. The Bonds shall bear interest from the most recent date to <br />which interest has been paid or provided £or or, if no interest has been paid <br />or provided for, from September 1, 1990. <br />The Bonds shall mature on December 1 of each of the following years <br />in the following principal amounts: <br /> Principal Principal <br />Year Amount Year Amount <br />1991 $ 25,000 1997 $ 35,000 <br />1992 25,000 1998 40,000 <br />1993 30,000 1999 40,000 <br />1994 30,000 2000 45,000 <br />1995 35,000 2010 670,000 <br />1996 35,000 <br />Those maturities are determined to be such that the total principal and inter- <br />est payments on the Bonds in any fiscal year in which principal is payable is <br />substantially equal. <br />The Bonds shall be subject to redemption prior to stated maturity as <br />follows: <br />(a) Mandatory Sinking Fund Redemption. The Bonds maturing on <br />December 1, 2010 shall be subject to mandatory redemption in part by lot and <br />be redeemed pursuant to mandatory sinking fund requirements, at a redemption <br />price of 100% of the principal amount redeemed, plus interest accrued to the <br />redemption date, on December 1, in the principal amounts and in the years <br />specified as follows (the Mandatory Sinking Fund Requirements): <br /> Principal Principal <br />Year Amount Year Amount <br />2001 $50,000 2006 $70,000 <br />2002 50,000 2007 70,000 <br />2003 55,000 2008 75,000 <br />2004 60,000 2009 85,000 <br />2005 65,000