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397 <br /> <br />-- FORM OF BOND <br /> <br /> R- PRINCIPAL AMOUNT <br /> $ <br /> <br /> UNITED STATES OF AMERICA <br /> STATE OF TEXAS <br /> COUNTY OF LAMAR <br /> PARIS ECONOMIC DEVELOPMENT CORPORATION <br /> TAXABLE SALES TAX REVENUE BOND <br /> SERIES 1998 <br /> <br /> <br /> DATE OF <br /> INTEREST RATE MATURITY DATE ORIGINAL ISSUE CUSIP NO. <br /> December 1, 1998 <br /> <br /> REGISTERED OWNER: <br /> PRINCIPAL AMOUNT: DOLLARS <br /> <br />-- ON THE MATURITY DATE specified above, PARIS ECONOMIC DEVELOPMENT <br /> CORPORATION (the "Issuer"), being a nonstock, nonprofit indusuial development eorporatiun <br /> organized and existing under the laws of the State of Texas, including particularly the Development <br /> Corporation Act of 1979, Article 5190.6, V.A.T.C.S., as amended (the "Act"), and acting on behalf <br /> of the City of Paris, Texas (the "City"), hereby promises to pay to the registered owner set forth <br /> above or to the assignee or assignees thereof(either being hereinafter called the "registered owner") <br /> the principal amount set forth above, and to pay interest thereon fi:om the date of the original issue <br /> specified above, to the maturity date specified above, or the date of redemption prior to maturity, at <br /> the interest rate per annum specified above with interest being payable on March I, 1999, and <br /> semiannually on each September 1 and March 1 thereafter; except that if the date of authentication <br /> of this Bond is later than the first Record Date (hereinafter defined), such principal amount shall bear <br /> interest fi:om the interest payment date next preceding the date of authentication, unless such date <br /> of authentication is after any Record Date but on or before the next following interest payment date, <br /> in which ease such principal amount shall bear interest from such next following interest payment <br /> date. <br /> <br /> THE PRINCIPAL OF AND INTEREST ON this Bond are payable in lawful money of the <br /> United States of America, without exchange or collection charges. The principal of this Bond shall <br /> be paid to the registered owner hereof upon presentation and surrender of this Bond at maturity, or <br /> upon the date fixed for its redemption prior to maturity, at the principal corporate trust office of The <br /> Bank of New York, New York, New York, which is the "Paying Agent/Registrar" for this Bond. <br /> The payment of interest on this Bond shall be made by the Paying Agent/Registrar to the registered <br /> owner hereof on each interest payment date by check or draft, dated as of such interest payment date, <br /> <br /> 8 <br /> <br /> <br />