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Year Amount Year Amount 1994 $280,000 1999 $270.000 1995 270,000 2000 270,000 1996 270.000 2001 270.000 1997 270.000 2002 220.000 1998 270.000 2003 215.000 1.04. Optional Redemption. The City may elect on February 1. 2000 and on any day thereafter, to prepay Bonds due on or after February 1. 2001. Redemption may be in whole or in part and if in part. at the option of the City and in such manner as the City shall determine and within a maturity by lot as selected by the registrar. All prepayments shall be at a price of par and accrued interest. Section 2. Registration and Payment. 2.01. Registered Form. The Bonds shall be issued only in fully registered form. The interest thereon and, upon surrender of each Bond. the principal amount thereof, is payable by check or draft issued by the Registrar described herein. 2.02. Dates; Interest Payment Dates. Each Bond will be dated as of the last interest payment date preceding the date of authentication to which inter- est on the Bond has been paid or made available for payment, unless (i) the date of authentication is an interest payment date to which interest has been paid or made available for payment. in which case such Bond shall be dated as of the date of authentication, or (ii) the date of authentication is prior to the first interest payment date. in which case such 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 August 1, 1992, to the owner of record thereof as of the close of business on the fifteenth day of the immediately preceding month, whether or not such day is a business day. 2.03. Registration. The City will appoint. and shall maintain, a bond registrar. transfer agent. authenticating agent and paying agent (Registrar). The effect of registration and the rights and duties of the City and the Regis- trar with respect thereto are as follows: (a) Register. The Registrar must keep at its principal corporate trust office a bond register in which the Registrar provides for the registration of ownership of Bonds and tp.e registration of transfers and exchanges of Bonds entitled to be registered, transferred or exchanged. (b) Transfer of Bonds. Upon surrender for transfer of a Bond duly endorsed by the registered owner thereof or accompanied by a written instrument of transfer. in form satisfactory to the Registrar, duly execut- ed 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