|
<br />for any portion of this Bond shall have a single stated principal maturity date), upon surrender of this Bond
<br />to the Paying Agent/Registrar for cancellation, all in accordance with the form and procedures set forth in
<br />the Bond Ordinance. If this Bond or any portion hereof is assigned and transferred or converted each bond
<br />issued in exchange for any portion hereof shall have a single stated principal maturity date corresponding to
<br />the due date of the installmenl of principal of this Bond or portion hereof for which the substitute bond is being
<br />exchanged, and shall bear interest at the rate applicable 10 and borne by such installmenl of principal or portion
<br />thereof. No such bond shall be payable in installments, but shall have only one staled principal maturity date.
<br />AS PROVIDED IN THE BOND ORDINANCE, THIS BOND IN ITS PRESENT FORM MAYBE
<br />ASSIGNED AND TRANSFERRED OR CONVERTED ONCE ONLY, and to one or more assignees, but
<br />the bonds issued and delivered in exchange for this Bond or any portion hereof may be assigned and
<br />transferred, and converted, subsequently, as provided in the Bond Ordinance. The Issuer shall pay the Paying
<br />Agent/Registrar's standard or customary fees and charges for transferring, converting, and exchanging this
<br />Bond or any portion thereof, but the one requesting such transfer, conversion, and exchange shall pay any
<br />taxes or governmental charges required 10 be paid with respect thereto. The Paying Agent/Registrar shall
<br />not be required to make any such assignment, conversion, or exchange during the period commencing with
<br />the close of business on any Record Date and ending with the opening of business on the next following
<br />principal or interest payment date.
<br />
<br />IN THE EVENT any Paying Agent/Registrar for this Bond is changed by the Issuer, resigns, or
<br />otherwise ceases to act as such, the Issuer has covenanted in the Bond Ordinance that it promptly will appoinl
<br />a compelenl and legally qualified substitute therefor, and promptly will cause written notice thereof 10 be
<br />mailed to the registered owner of this Bond.
<br />
<br />IT IS HEREBY cenified, recited, and covenanted that this Bond has been duly and validly authorized,
<br />issued, sold, and delivered; that all acts, conditions, and things required or proper to be performed, exist, and
<br />be done precedent to or in the authorization. issuance, and delivery of this Bond have been performed, existed,
<br />and been done in accordance with law; that this Bond is a general obligation of the Issuer. issued on the full
<br />faith and credit thereof; and that ad valorem taxes sufficient 10 provide for the payment of the interest on and
<br />principal of this Bond, as such interest and principal come due, have been levied and ordered 10 be levied
<br />againsl all taxable propeny in the Issuer, and have been pledged for such payment, within the limit prescribed
<br />by law, and that this Bond is additionally secured by and payable from the surplus revenues of Ihe Issuer's
<br />combined Waterworks and Sewer System, remaining after payment of all operation and maintenance
<br />expanses thereof, and all debl service, reserve, and other requirements in connection with all of the Issuer's
<br />revenue bonds. or other obligalions (now or hereafter outstanding), which are payable from all or any part
<br />of the Nel Revenues of the Issuer's Waterworks and Sewer System.
<br />
<br />BY BECOMING the registered owner of this Bond, the registered owner thereby acknowledges all
<br />of the terms and provisions of the Bond Ordinance, agrees to be bound by such lerms and provisions,
<br />acknowledges that the Bond Ordinance is duIy recorded and available for inspection in the official minules
<br />and records of the governing body of the Issuer, and agrees that the terms and provisions of this Bond and
<br />the Bond Ordinance constitule a contract between Ihe registered owner hereof and the Issuer.
<br />
<br />6
<br />
|