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1 York) deems necessary for the purpose of identification. Bond <br /> 2 No . 1 shall be in the denomination of $5, 348, and Bonds Nos . 2 <br /> 3 to 98, inclusive, shall be in the denomination of $5 , 000 each. <br /> 4 Interest shall be computed on the basis of a 360-day year of <br /> 5 twelve 30-day months . The Bonds shall bear interest, payable <br /> 6 annually beginning October 15 , 1991, in accordance with the <br /> 7 following schedule: <br /> 8 Bond Numbers Interest <br /> (Inclusive) Amounts Rates <br /> 9 <br /> 1 to 10 $50, 348 6 . 25% <br /> 10 11 to 20 50, 000 6 . 40 <br /> 21 to 30 50 , 000 6 . 60 <br /> 11 31 to 41 55 , 000 6 . 80 <br /> 42 to 51 50 , 000 6 . 90 <br /> 12 52 to 61 50 , 000 7 . 00 <br /> 62 to 71 50 , 000 7 . 10 <br /> 13 72 to 81 50, 000 7 . 20 <br /> 82 to 92 55 , 000 7 . 30 <br /> 14 93 to 98 30, 000 7 . 40 <br /> 15 Section 2 . The Bonds shall be issued only in registered <br /> 16 form as to both principal and interest on books or records <br /> 17 maintained by the Bond Registrar (the "Bond Register" ) . The <br /> 18 Bond Register shall contain the name and mailing address of the <br /> 19 owner of each Bond and the principal amount and number of each <br /> 20 of the Bonds held by each owner . <br /> 21 Bonds may be transferred only if endorsed in the manner <br /> 22 provided thereon and surrendered to the Bond Registrar . The <br /> 23 transfer of a Bond shall be by the Bond Registrar ' s receiving <br /> 24 the Bond to be transferred, cancelling it and issuing a new <br /> 25 certificate in the form of the Bonds to the transferee after <br /> - 2 - <br />