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i r~ „ 1j , 9 .02. Dates• Interest Payment Dates. Each Bond will be dated as of the last interest payme date preceding the date of authentication to which interest on the Bond has been paid or made ailable for payment, unless (i) the date of authentication is an interest payment date to which ' terest has been paid or made available for payment, in which case the Bond will be dated as of the date of authentication, or (ii) the date of authentication is prior to the first interest payme date, in which case the Bond will be dated as of the date of original issue. The interest on the Bonds is payable on February 1 and August 1 of each year, commencing February 1, 2007, the registered owners of record as of the close of business on the fifteenth day of the imme rely preceding month, whether or not that day is a business day. 03. Registration. The City will appoint a bond registrar, transfer agent, authenticating agent id paying agent (the "Registrar"). The effect of registration and the rights and duties of the Ci and the Registrar with respect thereto are as follows: (a) Register. The Registrar must keep at its principal corporate trust office a I and register in which the Registrar provides for the registration of ownership of Bonds 3 Viand the registration of transfers and exchanges of Bonds entitled to be registered, transferred or exchanged. o, $ (b) Transfer of Bonds. Upon surrender for transfer of a Bond duly endorsed y the registered owner thereof or accompanied by a written instrument of transfer, in form satisfactory to the Registrar, duly executed by the registered owner thereof or by an attorney duly authorized by the registered owner in writing, the Registrar will authenticate and deliver, in the name of the designated transferee or transferees, one or more new Bonds of a like aggregate principal amount and maturity, as requested by the (transferor. The Registrar may, however, close the books for registration of any transfer after the fifteenth day of the month preceding each interest payment date and until that interest payment date. ~E (c) Exchange of Bonds. When Bonds are surrendered by the registered owner y for exchange the Registrar will authenticate and deliver one or more new Bonds of a like aggregate principal amount and maturity as requested by the registered owner or the ! owner's attorney in writing. (d) Cancellation. Bonds surrendered upon transfer or exchange will be promptly cancelled by the Registrar and thereafter disposed of as directed by the City. (e) Improper or Unauthorized Transfer. When a Bond is presented to the Registrar for transfer, the Registrar may refuse to transfer the Bond until the Registrar is i satisfied that the endorsement on such Bond or separate instrument of transfer is valid 6 } and genuine and that the requested transfer is legally authorized. The Registrar will incur no liability for the refusal, in good faith, to make transfers which it, in its judgment, 0 deems improper or unauthorized. , 310072 1 SJB NE 136-214 4 i~