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delivery thereof or othenivise for any cause whatsoever, except as expressly provided herein or
<br /> therein.
<br /> ARTICLE 11
<br /> TERMS AND CONDITIONS OF BONDS
<br /> Section 2.01. Preparation of Bonds. The Authority hereby authorizes the issuance of
<br /> the Series 2015 Bonds in the aggregate principal amount of $20,235,000. The Series 2015
<br /> Bonds shall be designated "City of Redwood City Public Financing Authoriry Water Revenue
<br /> Refunding Bonds, Series 2015.'
<br /> Section 2.02. Denominations, Medium, Method and Place of Payment and Dating
<br /> of Bonds. The Bonds shall be issued in the form of fully registered Bonds in denominations of
<br /> five thousand dollars ($5,000) or any integral multiple thereof. Subject to the provisions of
<br /> Section 2.11 hereto, the interest, principal and redemption premiums, if any, on the Bonds shall
<br /> be payable by check in lawful money of the United States of America. Subject to the provisions
<br /> of Section 2.11 hereof, interest on the Bonds shall be payable on their Interest Payment Dates
<br /> by check mailed via first class mail on the Interest Payment Date by the Trustee to the
<br /> respective Owners thereof as of the Record Date at their addresses as they appear in the books
<br /> required to be kept by the Trustee pursuant to the provisions of Section 2.07 hereof or, upon the
<br /> written request from any Owner of Bonds aggregating at least $1,000,000 in principal amount,
<br /> received on or prior to the fifteenth day of the month preceding an applicable Interest Payment
<br /> Date, by wire in Federal Reserve funds to an account within the United States on the Interest
<br /> Payment Date, with regard to which such payment is made.
<br /> The principal of the Series 2015 Bonds shall be payable on February 1 in each of the
<br /> years and in the principal amounts as follows, or on redemption prior thereto, upon surrender
<br /> thereof at the Principal Office of the Trustee.
<br /> Year Principal Interest
<br /> �Februarv 1) Amount Rate
<br /> 2016 $710,000 3.000%
<br /> 2017 735,000 3.000
<br /> 2018 755,000 3.000
<br /> 2019 775,000 4.000
<br /> 2020 810,000 4.000
<br /> 2021 840,000 4.000
<br /> 2022 875,000 4.000
<br /> 2023 910,000 4.000
<br /> 2024 945,000 4.000
<br /> 2025 965,000 4.000
<br /> 2026 1,025,000 4.000
<br /> 2027 1,065,000 3.000
<br /> 2028 1,095,000 3.000
<br /> 2029 1,130,000 3.000
<br /> 2030 1,165,000 3.125
<br /> 2031. 1,200,000 3.250
<br /> 2032 1,240,000 3.250
<br /> 2033 1,280,000 3.500
<br /> 2034 1,325,000 3.500
<br /> 2035 1,370,000 3,625
<br /> $20,235,000
<br /> 11
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