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SERIAL BONDS Stated Maturity Principal Annual Rate (Februarv I) Amount of Interest 2006 $45,000 4.500% 2007 35,000 4.500 2008 35,000 4.500 2009 35,000 4.500 2010 35,000 4.000 2011 40,000 3.500 2012 40,000 3.750 2013 40,000 3.750 2014 45,000 3.500 2015 45,000 3.600 2016 45,000 3.700 2017 50,000 3.750 2018 50,000 3.875 2019 55,000 4.000 2020 105,000 4.000 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 February 1 and August 1 in each year, beginning on February I, 2006. Section 203. Designation of Paying Agent. (a) The Bank of New York Trust Company, N.A., 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. (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 (i) filing with the Paying Agent then performing such function a certified copy of the proceedings giving notice of the termination of such Paying Agent and appointing a successor, and (ii) causing notice of the appointment of the successor Paying Agent to be given by first class mail to each Bondowner. 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. The Paying Agent shall be paid its fees and expenses for services rendered by it in connection with the Bonds. (d) The Paying Agent shall be paid its fees and expenses for its services in connection herewith, which fees and expenses shall be paid as other Expenses are paid. -6-