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"THE CITY OF PARIS, TEXAS (the "Issuer"), being apolitical subdivision and municipal
<br />corporation of the State of Texas, hereby promises to pay to the Registered Owner specified above,
<br />or registered assigns (hereinafter called the "Registered Owner"), on December 15 in the years, in
<br />the principal installments and bearing interest at the per annum rates set forth in the following
<br />schedule:
<br />The Issuer promises to pay interest on the unpaid principal amount hereof (calculated on the basis
<br />of a 360 -day year of twelve 30 -day months) from the Date of Initial Delivery set forth above at the
<br />respective Interest Rate per annum specified above. Interest is payable on December 15, 2021 and
<br />semiannually on each June 15 and December 15 thereafter to the date of payment of the principal
<br />installment specified above, or the date of redemption prior to maturity; except, that if this
<br />Certificate is required to be authenticated and the date of its authentication is later than the first
<br />Record Date (hereinafter defined), such Principal Amount shall bear interest from the interest
<br />payment date next preceding the date of authentication, unless such date of authentication is after
<br />any Record Date but on or before the next following interest payment date, in which case such
<br />principal amount shall bear interest from such next following interest payment date; provided,
<br />however, that if on the date of authentication hereof the interest on the Certificate or Certificates,
<br />if any, for which this Certificate is being exchanged is due but has not been paid, then this
<br />Certificate shall bear interest from the date to which such interest has been paid in full."
<br />C. The Initial Certificate shall be numbered "T-1."
<br />Section 5. INTEREST AND SINKING FUND. A special "Interest and Sinking Fund" is
<br />hereby created and shall be established and maintained by the Issuer at an official depository bank
<br />of the Issuer. Said Interest and Sinking Fund shall be kept separate and apart from all other funds
<br />and accounts of the Issuer, and shall be used only for paying the interest on and principal of the
<br />Certificates. All amounts received from the sale of the Certificates as accrued interest and ad
<br />valorem taxes levied and collected for and on account of the Certificates shall be deposited, as
<br />collected, to the credit of said Interest and Sinking Fund. During each year while any of the
<br />Certificates are outstanding and unpaid, the governing body of the Issuer shall compute and ascertain
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<br />Principal
<br />Interest
<br />Principal
<br />Interest
<br />Years
<br />Installments
<br />Rates
<br />Years
<br />Installments
<br />Rates
<br />2022
<br />$1,210,000
<br />5.000%
<br />2036
<br />$1,590,000
<br />3.000%
<br />2023
<br />1,885,000
<br />5.000
<br />****
<br />2024
<br />1,985,000
<br />5.000
<br />2038
<br />3,290,000
<br />2.000
<br />2025
<br />760,000
<br />5.000
<br />2039
<br />1,695,000
<br />2.000
<br />2026
<br />620,000
<br />5.000
<br />2040
<br />1,730,000
<br />2.000
<br />2027
<br />655,000
<br />5.000
<br />2041
<br />1,765,000
<br />2.125
<br />2028
<br />690,000
<br />5.000
<br />2042
<br />1,800,000
<br />2.250
<br />2029
<br />725,000
<br />5.000
<br />2043
<br />1,840,000
<br />2.250
<br />2030
<br />765,000
<br />5.000
<br />2044
<br />1,885,000
<br />2.250
<br />2031
<br />800,000
<br />5.000
<br />****
<br />2032
<br />1,445,000
<br />4.000
<br />2047
<br />5,910,000
<br />2.250
<br />2033
<br />1,445,000
<br />4.000
<br />****
<br />2034
<br />1,495,000
<br />3.000
<br />2050
<br />6,330,000
<br />2.375
<br />2035
<br />1,540,000
<br />3.000
<br />The Issuer promises to pay interest on the unpaid principal amount hereof (calculated on the basis
<br />of a 360 -day year of twelve 30 -day months) from the Date of Initial Delivery set forth above at the
<br />respective Interest Rate per annum specified above. Interest is payable on December 15, 2021 and
<br />semiannually on each June 15 and December 15 thereafter to the date of payment of the principal
<br />installment specified above, or the date of redemption prior to maturity; except, that if this
<br />Certificate is required to be authenticated and the date of its authentication is later than the first
<br />Record Date (hereinafter defined), such Principal Amount shall bear interest from the interest
<br />payment date next preceding the date of authentication, unless such date of authentication is after
<br />any Record Date but on or before the next following interest payment date, in which case such
<br />principal amount shall bear interest from such next following interest payment date; provided,
<br />however, that if on the date of authentication hereof the interest on the Certificate or Certificates,
<br />if any, for which this Certificate is being exchanged is due but has not been paid, then this
<br />Certificate shall bear interest from the date to which such interest has been paid in full."
<br />C. The Initial Certificate shall be numbered "T-1."
<br />Section 5. INTEREST AND SINKING FUND. A special "Interest and Sinking Fund" is
<br />hereby created and shall be established and maintained by the Issuer at an official depository bank
<br />of the Issuer. Said Interest and Sinking Fund shall be kept separate and apart from all other funds
<br />and accounts of the Issuer, and shall be used only for paying the interest on and principal of the
<br />Certificates. All amounts received from the sale of the Certificates as accrued interest and ad
<br />valorem taxes levied and collected for and on account of the Certificates shall be deposited, as
<br />collected, to the credit of said Interest and Sinking Fund. During each year while any of the
<br />Certificates are outstanding and unpaid, the governing body of the Issuer shall compute and ascertain
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