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3035 <br />2036 <br />2037 <br />2038 <br />2039 <br />2040 <br />2041 <br />2042 <br />The City promises to pay interest on the unpaid principal amount hereof (calculated on the basis <br />of a 360 -day year of twelve 30 -day months) from the Delivery Date at the respective Interest <br />Rate per annum specified above. Interest is payable on December 15, 2022, and on each June 15 <br />and December 15 thereafter to the date of payment of the principal installment specified above, <br />or the date of redemption prior to maturity; except, that if this Bond is required to be <br />authenticated and the date of its authentication is later than the first Record Date (hereinafter <br />defined), such principal amount shall bear interest from the interest payment date next preceding <br />the date of authentication, unless such date of authentication is after any Record Date but on or <br />before the next following interest payment date, in which case such principal amount shall bear <br />interest from such next following interest payment date; provided, however, that if on the date of <br />authentication hereof the interest on the Bond or Bonds, if any, for which this Bond is being <br />exchanged is due but has not been paid, then this Bond shall bear interest from the date to which <br />such interest has been paid in full." <br />(C) The initial Bond shall be numbered "T-1." <br />A-8 <br />