The payment of interest on this Bond shall be made by the Paying Agent/Registrar to the
<br />registered owner hereof on each interest payment date by check or draft, dated as of such interest
<br />payment date, drawn by the Paying Agent/Registrar on, and payable solely from, funds of the
<br />City required by the ordinance authorizing the issuance of the Bonds (the "Bond Ordinance") to
<br />be on deposit with the Paying Agent/Registrar for such purpose as hereinafter provided; and such
<br />check or draft shall be sent by the Paying Agent/Registrar by United States mail, first-class
<br />postage prepaid, on each such interest payment date, to the registered owner hereof, at its address
<br />as it appeared on the [last business] day of the month next preceding each such date (the "Record
<br />Date") on the Registration Books kept by the Paying Agent/Registrar, as hereinafter described.
<br />In addition, interest may be paid by such other method, acceptable to the Paying Agent/Registrar,
<br />requested by, and at the risk and expense of, the registered owner. In the event of a non-payment
<br />of interest on a scheduled payment date, and for 30 days thereafter, a new record date for such
<br />interest payment (a "Special Record Date") will be established by the Paying Agent/Registrar, if
<br />and when funds for the payment of such interest have been received from the City. Notice of the
<br />Special Record Date and of the scheduled payment date of the past due interest (which shall be
<br />15 days after the Special Record Date) shall be sent at least five business days prior to the
<br />Special Record Date by United States mail, first-class postage prepaid, to the address of each
<br />owner of a Bond appearing on the Registration Books at the close of business on the last
<br />business day next preceding the date of mailing of such notice.
<br />ANY ACCRUED INTEREST due at maturity or upon the redemption of this Bond prior
<br />to maturity as provided herein shall be paid to the registered owner upon presentation and
<br />surrender of this Bond for payment at the principal corporate trust office of the Paying
<br />Agent/Registrar. The City covenants with the registered owner of this Bond that on or before
<br />each principal payment date and interest payment date for this Bond it will make available to the
<br />Paying Agent/Registrar, from the "Interest and Sinking Fund" created by the Bond Ordinance,
<br />the amounts required to provide for the payment, in immediately available funds, of all principal
<br />of and interest on the Bonds, when due.
<br />IF THE DATE for any payment due on this Bond shall be a Saturday, Sunday, a legal
<br />holiday, or a day on which banking institutions in the city where the principal corporate trust
<br />office of the Paying Agent/Registrar is located are authorized by law or executive order to close,
<br />then the date for such payment shall be the next succeeding day which is not such a Saturday,
<br />Sunday, legal holiday, or day on which banking institutions are authorized to close, and payment
<br />on such date shall have the same force and effect as if made on the original date payment was
<br />due.
<br />THIS BOND is dated as of [, 2023], authorized in accordance with the Constitution
<br />and laws of the State of Texas in the principal amount of $ FOR THE PURPOSE OF
<br />PROVIDING FUNDS TO REFUND A PORTION OF THE CITY'S OUTSTANDING
<br />OBLIGATIONS.
<br />ON [DECEMBER 15, 20_], or on any date thereafter, the Bonds may be redeemed prior
<br />to their scheduled maturities, at the option of the City, with funds derived from any available and
<br />lawful source, as a whole, or in part, and, if in part, the particular Bonds, or portions thereof, to
<br />be redeemed shall be selected and designated by the City (provided that a portion of a Bond may
<br />be redeemed only in an integral multiple of $5,000), at a redemption price equal to the principal
<br />amount to be redeemed plus accrued interest to the date fixed for redemption.
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