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1 Bonds Nos . 2 to 81 , inclusive, shall be in the denomination of <br /> 2 $5, 000 . 00 each. Interest shall be computed on the basis of a <br /> 3 360-day year of twelve 30-day months . The Bonds shall bear <br /> 4 interest, payable annually beginning March 15 , 1990 , in <br /> 5 accordance with the following schedule : <br /> 6 Bond Numbers Interest <br /> 7 ( Inclusive) Amounts Rates <br /> 8 1 to 4 $21 ,231 . 91 6 . 90% <br /> 5 to 8 20 , 000 . 00 7 . 00 <br /> 9 9 to 13 25, 000 . 00 7 . 10 <br /> 14 to 17 20 , 000 . 00 7 . 20 <br /> 10 18 to 22 25 , 000 . 00 7 . 25 <br /> 23 to 26 20 , 000 . 00 7 . 30 <br /> 11 27 to 31 25, 000 . 00 7 . 35 <br /> 32 to 35 20 , 000 . 00 7 . 40 <br /> 12 36 to 40 25, 000 . 00 7 . 45 <br /> 41 to 45 25, 000 . 00 7 . 50 <br /> 13 46 to 49 20 , 000 . 00 7 . 55 <br /> 50 to 54 25, 000 . 00 7 . 60 <br /> 14 55 to 58 20 , 000 . 00 7 . 65 <br /> 59 to 63 25, 000 . 00 7 . 70 <br /> 15 64 to 68 25, 000 . 00 7 . 75 <br /> 69 to 73 25 , 000 . 00 7 . 80 <br /> 16 74 to 77 20 , 000 . 00 7 . 85 <br /> 78 to 82 20 , 000 . 00 7 . 90 <br /> 17 Section 2 . The Bonds shall be issued only in registered <br /> 18 form as to both principal and interest on books or records <br /> 19 maintained by the Bond Registrar (the "Bond Register" ) . The <br /> 20 Bond Register shall contain the name and mailing address of the <br /> 21 owner of each Bond and the principal amount and number of each <br /> 22 of the Bonds held by each owner . <br /> 23 Bonds may be transferred only if endorsed in the manner <br /> 24 provided thereon and surrendered to the Bond Registrar . The <br /> 25 transfer of a Bond shall be by the Bond Registrar ' s receiving <br /> - 2 - <br />