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Series B", be dated November 21, 1985, be numbered as determined by the Agent hereinafter designated, be of the denomination of $5,000 or an integral multiple thereof (except that one Series B Bond of the earliest maturity may be of a different denomination, as necessary), and mature in the principal amounts and on the dates set forth in Exhibit "A" attached hereto and by this reference made a part hereof. Section 3. Interest on Series B Bonds. The Series B Bonds shall bear interest at the rate or rates determined by the Council at the time of award of sale thereof, payable commencing on January 2, 1987, and thereafter semiannually on January 2 and July 2 in each year. Series B Bonds originally issued shall bear interest from their date. Series B Bonds issued on transfers or exchanges of Series B Bonds shall bear interest from the interest payment date next preceding the date of authentication and registration thereof, unless authenticated and registered on an interest payment date, in which event from such interest payment date, or, unless authenticated and registered prior to January 2, 1987, in which event from their date. Each Series B Bond will continue to bear interest after maturity at the rate stated therein, provided it is presented at maturity and payment thereof is refused on the sole ground that there is not sufficient money in the Redemption Fund heretofore established with which to pay same; if it is not presented at maturity, interest thereon will run only until maturity. Section 4. Series B Bonds Payable. The principal of the Series B Bonds and any redemption premium shall be payable in lawful money of the United States of America at the Corporate Agency Service Center of Bank of America National Trust and Savings Association, San Francisco, California, or its successor, as Registrar, Transfer Agent and Paying Agent (the "Agent"), upon surrender of said Bonds at said office of the Agent. Interest shall be payable by check or draft mailed to the holder of record at the address as it appears in the registry books maintained by the Agent, or to such address as may have been filed with the Agent for that purpose, as of the close of business of the 15th day next preceding an interest payment date. Section 5. Form of Series B Bonds. The Series B Bonds shall be substantially in the form set forth in Exhibit "B" attached hereto and by this reference made a part hereof, the blank spaces therein to be filled in to conform to the provisions of this Resolution. Any portion of the text of any Series B Bond may be set forth on the reverse thereof with an appropriate reference thereto on the face of such Bond. Section 6. Execution of Series B Bonds. The Series B Bonds shall be executed on behalf of the City by the engraved, printed or lithographed facsimile signatures of the Acting Treasurer of the City (the "Treasurer") and of the Clerk of the City and a facsimile of -2-