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<br />Section 4. INTEREST. The unpaid principal balance of the hritiaI Bond shall bear interest from <br />the date of the hritial Bond and will be calculated on the basis of a 360-day year of twelve 30-day months to <br />the respective scheduled due dates, of the installments of principal of the Initial Bond, and said interesl shall <br />be payable, all in the manner provided and at the rates and on the dates stated in the FORM OF INITIAL <br />BOND sel forth in this Ordinance. <br /> <br />Section 5. FORM OF INITIAL BOND. The form of the Initial Bond, including the form of <br />Registration Certificate of the Comptroller of Public Accounts of the Slale of Texas to be endorsed on the <br />Initial Bond, shall be substantially as follows: <br /> <br />FORM OF INITIAL BOND <br /> <br />NO. R-l <br /> <br />$5,130,000 <br /> <br />UNITED STATES OF AMERICA <br />STATE OF TEXAS <br />COUNTY OF LAMAR <br />CITY OF PARIS, TEXAS <br />TAX AND REVENUE REFUNDING BOND, SERIES 2001 <br /> <br />The CITY OF P ARlS, in LAMAR COUNTY (the "Issuer"), being a political subdivision of the State <br />of Texas, hereby promises to pay to <br /> <br />or 10 the regislered assignee or assignees of this Bond or any portion or portions hereof (in each case, the <br />"regislered owner") the aggregate principal amounl of <br /> <br />FIVE MILLION ONE HUNDRED AND THIRTY THOUSAND DOLLARS <br /> <br />in annual installments of principal due and payable on December 15 in each of the years, and in the respective <br />principal amounts, as set forth in the following schedule: <br /> <br />YEAR AMOUNT XEAR AMOUNT <br />2002 $430,000 2007 515,000 <br />2003 450,000 2008 540,000 <br />2004 460,000 2009 560,000 <br />2005 485,000 2010 580,000 <br />2006 500,000 2011 605,000 <br /> <br />and to pay interest, from the date of this Bond hereinafter stated, on the balance of each such installment of <br />principal, respeclively, from time to time remaining unpaid, al the rates as follows: <br /> <br />3 <br />