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SERIAL BONDS Stated Maturity Principal Annual Rate March 1 Amount of Interest 2006 $190,000 4.75% 2007 175,000 4.50 2008 180,000 4.25 2009 185,000 2.95 2010 195,000 3.00 2011 200,000 3.10 2012 205,000 3.15 2013 215,000 3.30 2014 225,000 3.30 2015 230,000 3.40 The Bonds shall bear interest at the above-specified rates (computed on the basis of a 360-day year of twelve 30-day months) from the date thereof or from the most recent Interest Payment Date to which interest has been paid or duly provided for, payable semiannually on March 1 and September I in each year, beginning on March I, 2006. Section 203. Designation of Paying Agent. (a) The Bank of New York Trust Company, N.A., a national banking association with a corporate trust office located in St. Louis, Missouri, is hereby designated as the City's paying agent for the payment of principal of and interest on the Bonds and bond registrar with respect to the registration, transfer and exchange of Bonds (the "Paying Agent"). (b) The City will at all times maintain a Paying Agent meeting the qualifications herein described for the performance of the duties hereunder. The City reserves the right to appoint a successor Paying Agent by (1) filing with the Paying Agent then performing such function a certi fied copy of the proceedings giving notice of the termination of such Paying Agent and appointing a successor, and (2) causing notice of the appointment of the successor Paying Agent to be given by first class mail to each Registered Owner. The Paying Agent may resign upon giving written notice by first class mail to the City and the Bondowners not less than 60 days prior to the date such resignation is to take effect. No resignation or removal of the Paying Agent shall become effective until a successor has been appointed and has accepted the duties of Paying Agent. (c) Every Paying Agent appointed hereunder shall at all times be a commercial banking association or corporation or trust company located in the State of Missouri organized and doing business under the laws of the United States of America or of the State of Missouri, authorized under such laws to exercise trust powers and subject to supervision or examination by federal or state regulatory authority. (d) the Bonds. The Paying Agent shall be paid its fees and expenses for its services in connection with Section 204. Method and Place of Payment of Bonds. (a) The principal or Redemption Price of and interest on the Bonds shall be payable in any coin or currency of the United States of America that, on the respective dates of payment thereof, is legal tender for the payment of public and private debts. -6-