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2030 <br />2031 <br />2032 <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 Dated Date above, at the respective Interest <br />Rate per annum specified above. Interest is payable on December 15, 2026 and semiannually on <br />each June 15 and December 15 thereafter to the date of payment of the principal installment <br />specified above; except, that if this Note is required to be authenticated and the date of its <br />authentication is later than the first Record Date (hereinafter defined), such Principal Amount shall <br />bear interest from the interest payment date next preceding the date of authentication, unless such <br />date of authentication is after any Record Date but on or before the next following interest payment <br />date, in which case such principal amount shall bear interest from such next following interest <br />payment date; provided, however, that if on the date of authentication hereof the interest on the <br />Note or Notes, if any, for which this Note is being exchanged is due but has not been paid, then <br />this Note shall bear interest from the date to which such interest has been paid in full." <br />C. The Initial Note shall be numbered "T-1." <br />A-6 <br />