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<br />Books kept by the Paying AgenllRegistrar, as hereinafter described, or by such other method acceptable 10
<br />the Paying AgenllRegistrar requested by, and the risk and expense of, the registered owner. The Issuer
<br />covenants with the regislered owner of this Bond that on or before each principal payment dale and interest
<br />payment date for this Bond it will make available to the Paying AgenllRegistrar, from the "Interest and
<br />Sinking Fund" created by the Bond Ordinance, the amounts required to provide for the payment. m
<br />immedialely available funds, of all principal of and interest on the Bonds, when due.
<br />
<br />IF THE DATE for the payment of the principal of or interest on this Bond shall be a Saturday,
<br />Sunday, a legal holiday, or a day on which banking institutions in the City where the Paying Agent/Registrar
<br />is localed are authorized by law or executive order 10 close, then the dale for such payment shall be the nexl
<br />succeeding day which is not such a Saturday, Sunday, legal holiday, or day on which banking institutions are
<br />authorized to close; and payment on such date shall have the same force and effect as if made on the original
<br />date payment was due.
<br />
<br />THIS BOND is one of an issue of Bonds initially dated September 15, 200 I, authorized in accordance
<br />with the Constitution and laws of the State of Texas in the principal amount of$5,130,OOO for refunding the
<br />Refunded Bonds.
<br />
<br />ON DECEMBER 15,2009, or any dale thereafter, the Bonds of this Series may be redeemed prior
<br />to their scheduled maturilies, at the option of the Issuer, with funds derived from any available and lawful
<br />source, as a whole, or in part, and, if in part, the Issuer shall select and designate and designale the maturity
<br />or maturities and the amount that is 10 be redeemed, and if less than a whole maturity is to be called, the
<br />Issuer shall direct the Paying AgenllRegistrar to call by lot (provided that a portion of a Bond may be
<br />redeemed only in an integral multiple of $5,000), atthe redemption price of the principal amount thereof, plus
<br />accrued interest 10 the date fIxed for redemption.
<br />
<br />AT LEAST 30 days prior to the date fIxed for any such prepayment or redemption, a written nOlice
<br />of such prepayment or redemption shall be mailed by United States mail, firsl class postage pre-paid, by the
<br />Paying Agenl/Registrar to the registered owner hereof. By the date fIxed for any such prepayment or
<br />redemption due provision shall be made by the Issuer with Ihe Paying AgenllRegistrar for Ihe paymenl of the
<br />required prepayment or redemption price for this Bond or the ponion hereof which is to be so prepaid or
<br />redeemed, plus accrued interest thereon to the date fixed for prepayment or redemption. If such written notice
<br />of prepayment or redemption is given, and if due provision for such payment is made, all as provided above,
<br />this Bond, or Ihe portion thereof which is 10 be so prepaid or redeemed, thereby automatically shall be treated
<br />as prepaid or redeemed prior to its scheduled due date, and shall not bear interest after the date fIxed for its
<br />prepayment or redemption, and shall not be regarded as being outstanding except for the right of the
<br />registered owner to receive Ihe prepaymenl or redemption price plus accrued inlerest to the dale fIxed for
<br />prepayment or redemption from the Paying AgenllRegistrar out oflhe funds provided for such payment. The
<br />Paying AgenllRegistrar shall record in the Registration Books all such prepayments or redemptions of
<br />principal of this Bond or any ponion hereof.
<br />
<br />THIS BOND OR ANY PORTION OR PORTIONS HEREOF IN ANY INTEGRAL MULTIPLE
<br />OF $5,000 may be assigned and shall be transferred only in the Registration Books of the Issuer kept by the
<br />Paying AgenllRegistrar acting in the capacity of registrar for the Bonds, upon the terms and conditions sel
<br />forth in the Bond Ordinance. Among other requirements for such assignment and transfer, this Bond must
<br />be presented and surrendered 10 the Paying Agent/Registrar, together with proper instruments of assignment,
<br />in form and with guarantee of signatures salisfactory 10 the Paying AgenllRegistrar, evidencing assignmenl
<br />
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