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same rate, in any denomination or denominations in any integral multiple of $5,000, at the written request
<br />of the registered owner, and in aggregate principal amount equal to the unredeemed portion thereof, will be
<br />issued to the registered owner upon the surrender thereof for cancellation, at the expense of the Issuer, all
<br />as provided in the Bond Ordinance.
<br />WITH RESPECT TO ANY OPTIONAL REDEMPTION OF THE BONDS, unless certain
<br />prerequisites to such redemption required by the Bond Ordinance have been met and money sufficient to pay
<br />the principal of and premium, if any, and interest on the Bonds to be redeemed will have been received by the
<br />Paying Agent/Registrar prior to the giving of such notice of redemption, such notice may state that said
<br />redemption may, at the option of the Issuer, be conditional upon the satisfaction of such prerequisites and
<br />receipt of such money by the Paying Agent/Registrar on or prior to the date fixed for such redemption or upon
<br />any prerequisite set forth in such notice of redemption. If a conditional notice of redemption is given and
<br />such prerequisites to the redemption are not fulfilled, such notice will be of no force and effect, the Issuer will
<br />not redeem such Bonds, and the Paying Agent/Registrar will give notice in the manner in which the notice of
<br />redemption was given, to the effect that such Bonds have not been redeemed.
<br />ALL BONDS OF THIS SERIES are issuable solely as fully registered bonds, without interest
<br />coupons, in the denomination of any integral multiple of $5,000. As provided in the Bond Ordinance, this
<br />Bond may, at the request of the registered owner or the assignee or assignees hereof, be assigned,
<br />transferred, converted into and exchanged for a like aggregate principal amount of fully registered Bonds,
<br />without interest coupons, payable to the appropriate registered owner, assignee or assignees, as the case
<br />may be, having the same denomination or denominations in any integral multiple of $5,000 as requested in
<br />writing by the appropriate registered owner, assignee or assignees, as the case may be, upon surrender of
<br />this Bond to the Paying Agent/Registrar for cancellation, all in accordance with the form and procedures
<br />set forth in the Bond Ordinance. Among other requirements for such assignment and transfer, this Bond
<br />must be presented and surrendered to the Paying Agent/Registrar, together with proper instruments of
<br />assignment, in form and with guarantee of signatures satisfactory to the Paying Agent/Registrar,
<br />evidencing assignment of this Bond or any portion or portions hereof in any integral multiple of $5,000 to
<br />the assignee or assignees in whose name or names this Bond or any such portion or portions hereof is or
<br />are to be registered. The form of Assignment printed or endorsed on this Bond may be executed by the
<br />registered owner to evidence the assignment hereof, but such method is not exclusive, and other instruments
<br />of assignment satisfactory to the Paying Agent/Registrar may be used to evidence the assignment of this
<br />Bond or any portion or portions hereof from time to time by the registered owner. The Paying
<br />Agent/Registrar's reasonable standard or customary fees and charges for assigning, transferring,
<br />converting and exchanging any Bond or portion thereof will be paid by the Issuer. In any circumstance,
<br />any taxes or governmental charges required to be paid with respect thereto shall be paid by the one
<br />requesting such assignment, transfer, conversion or exchange, as a condition precedent to the exercise of
<br />such privilege. The Paying Agent/Registrar shall not be required to make any such transfer, conversion or
<br />exchange of any Bonds during the period commencing with the close of business on any Record Date and
<br />ending with the opening of business on the next following principal or interest payment date or, with
<br />respect to any Bond or any portion thereof called for redemption prior to maturity, within 45 days prior to
<br />its redemption; provided, however, that such limitation shall not apply to uncalled portions of a Bond
<br />redeemed in part.
<br />IN THE EVENT any Paying Agent/Registrar for the Bonds is changed by the Issuer, resigns, or
<br />otherwise ceases to act as such, the Issuer has covenanted in the Bond Ordinance that it promptly will
<br />appoint a competent and legally qualified substitute therefor, and cause written notice thereof to be mailed
<br />to the registered owners of the Bonds.
<br />IT IS HEREBY certified, recited and covenanted that this Bond has been duly and validly
<br />authorized, issued and delivered; that all acts, conditions and things required or proper to be performed,
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