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payment duly provided for, payable on June 1, 1991, and <br /> semiannually thereafter on the first day of each June and <br /> December; and shall mature on December 1 of each year as follows: <br /> Maturity Principal Maturity Principal <br /> Year Amount Year Amount <br /> 1991 $116,250 1999 $185, 000 <br /> 1992 120, 000 2000 200, 000 <br /> 1993 130, 000 2001 215, 000 <br /> 1994 135, 000 2002 230, 000 <br /> 1995 145, 000 2003 245, 000 <br /> 1996 155, 000 2004 260, 000 <br /> 1997 165, 000 2005 280, 000 <br /> 1998 175, 000 <br /> The Bonds shall bear interest at such rate or rates as are <br /> established by subsequent resolution of the Council adopted upon <br /> the sale of the Bonds as provided herein. <br /> SECTION 4. Registration of Bonds. The City hereby speci- <br /> fies and adopts the system of registration for the Bonds approved <br /> by the State Finance Committee, and the fiscal agencies of the <br /> State of Washington in the cities of Seattle, Washington, and New <br /> York, New York, shall act as authenticating trustee, transfer <br /> agent, paying agent and registrar for the Bonds (collectively, <br /> the "Bond Registrar") . <br /> The Bond Registrar shall keep, or cause to be kept, at its <br /> principal corporate trust office, sufficient records for the <br /> registration and transfer of the Bonds which shall at all times <br /> be open to inspection by the City. The Bond Registrar is author- <br /> ized, on behalf of the City, to authenticate and deliver Bonds <br /> transferred or exchanged in accordance with the provisions of <br /> such Bonds and this ordinance and to carry out all of the Bond <br /> Registrar's powers and duties under this registration. <br /> The Bond Registrar shall be responsible for its representa- <br /> tions contained in the Certificate of Authentication on the <br /> Bonds. The Bond Registrar may become the owner of any Bonds with <br /> -7- KR113 90/09/17 <br />