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redemption premium, if any, but excluding installments of interest whose Stated Maturity is on or before the Redemption Date, which price is to be stated as a percentage of the principal amount of those Bonds to be redeemed. "Special Record Date" means the date prior to the payment date of Defaulted Interest fixed by the Paying Agent pursuant to Section 204 hereof. "Stated Maturity" when used with respect to any Bond or any installment of interest thereon means the date specified in such Bond and this Ordinance as the fixed date on which the principal of such Bond or such installment of interest is due and payable. Bonds. "Underwriter" means Stem Brothers & Co., Kansas City, Missouri, the original purchaser of the "United States Government Obligations" means bonds, notes, certificates of indebtedness, treasury bills or other securities constituting direct obligations of, or obligations the principal of and interest on which are fully and unconditionally guaranteed as to full and timely payment by, the United States of America, including evidences of a direct ownership interest in future interest or principal payments on obligations issued or guaranteed by the United States of America (including the interest component of obligations of the Resolution Funding Corporation), or securities which represent an undivided interest in such obligations, which obligations are rated in the highest rating category by a nationally recognized rating service and such obligations are held in a custodial account for the benefit of the City. ARTICLE II AUTHORIZATION OF BONDS Section 201. Authorization of Bonds. There shall be issued and hereby are authorized and directed to be issued the General Obligation Bonds, Series 2005, of the City in the principal amount of $2,000,000 (the "Bonds"), for the purpose of paying the costs of the Project and the costs of issuing the Bonds. Section 202. Description of Bonds. The Bonds shall consist of fully registered bonds without coupons, numbered from I upward in order of issuance, in denominations of $5,000 or any integral multiple thereof. The Bonds, as originally issued or issued upon transfer, exchange or substitution, shall be substantially in the form set forth in Exhibit A attached hereto, and shall be subject to registration, transfer and exchange as provided in Section 205 hereof. All of the Bonds shall be dated June 1, 2005, shall become due in the amounts on the Stated Maturities, subject to redemption and payment prior to their Stated Maturities as provided in Article III hereof, and shall bear interest at rates per annum, as follows: [Remainder of Page Intentionally Left Blank.] -5-