2000-012-ORD AUTHORIZING ISSUANCE OF COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION SERIES 2000

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to the registered owner hereof on the interest payment date by check or draft, dated as of such interest payment date, drawn by the Paying Agent/Registrar on, and payable solely from, funds of the Issuer required by the Ordinance authorizing the issuance of the Certificates of Obligation (the "Certificate of Obligation Ordinance") to be on deposit with the Paying Agent/ Registrar for such purpose as hereinafter provided; and such check or draft shall be sent by the Paying AgentJRegistrar by United States mail, first-class postage prepaid, on each such interest payment date, to the registered owner hereof, at the address of the registered owner, as it appeared on the last business day of the month next preceding such date (the nRecord Date") on the Registration Books kept by the Paying Agent/Registrar, as hereinafter described, or by such other method acceptable to the Paying Agent/Registrar requested by, and at the risk and expense of, the registered owner. Any accrued interest due upon the redemption of this Certificate of Obligation prior to maturity as provided herein shall be paid to the registered owner at the principal corporate trust office of the Paying Agent/Registrar upon presentation and surrender of this Certificate of Obligation for redemp- tion and payment at the principal corporate trust office of the Paying Agent/Registrar. The Issuer covenants with the registered owner of this Certificate of Obligation that on or before each principal payment date, interest payment date, and accrued interest payment date for this Certificate ofObliga- tion, it will make available to the Paying Agent/Registrar, from the "Interest and Sinking Fund" created by the Certificate of Obligation Ordinance, the amounts required to provide for the payment, in immediately available funds, of all principal of and interest on the Certificates of Obligation, when due. IF THE DATE for the payment of the principal of or interest on this Certificate of Obligation shall be a Saturday, Sunday, a legal holiday, or a day on which banking institutions in the city where the Paying Agent/Registrar is located are authorized by law or executive order to close, then the date for such payment shall be the next succeeding day which is not such a Saturday, Sunday, legal holiday, or day on which banking institutions are authorized to close; and payment on such date shall have the same force and effect as if made on the original date payment was due. THIS CERTIFICATE OF OBLIGATION is one of an issue of Certificates of Obligation initially dated March 15,2000, authorized in accordance with the Constitution and laws of the State of Texas in the original principal amount of $6,000,000, for paying all or a portion of the City's contractual obligations for the purpose of improving, constructing and reconstructing the City's streets, including the purchase of the necessary right of way and the construction of related drainage, sidewalk and street lighting improvements; improving, constructing and repairing drainage facilities including the purchase of the necessary right of way; constructing, improving and purchasing buildings for the Police Department, Fire Department, Municipal Courts Department and Parks and Recreational Department and Municipal Warehouse Department; improving and renovating the City Hall and Central Fire Station building together with renovation of that portion of that building which houses the Central Fire Station into City Council chambers, offices and related facilities; constructing, improving and equipping municipal parks; and for paying legal, fiscal, architectural and engineering fees in connection with these projects. 18