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<br />and to pay interest thereon from September 1, 2002 to the maturity date specified above, or the date of
<br />redemption prior to maturity, at the interest rate per annum specified above with interest being payable on
<br />December 15,2002, and semiannually on each June 15 and December 15 thereafter; except that if the date
<br />of authentication of this Certificate of Obligation is later than November 30, 2002, such principal amount shall
<br />bear interest from the interest payment date next preceding the date of authentication, unless such date of
<br />authentication is after any Record Date (hereinafter defmed) but on or before the next following interest
<br />payment date, in which case such principal amount shall bear interest from such next following interest
<br />payment date.
<br />
<br />THE PRINCIPAL OF AND INTEREST ON this Certificate of Obligation are payable in lawful
<br />money of the United States of America, without exchange or collection charges. The principal of this
<br />Certificate of Obligation shall be paid to the registered owner hereof upon presentation and surrender of this
<br />Certificate of Obligation at maturity or upon the date fixed for its redemption prior to maturity, at the principal
<br />corporate trust office of THE BANK OF NEW YORK TRUST COMPANY OF FLORIDA, N.A.,
<br />DALLAS, TEXAS, which is the "Paying AgentJRegistrar" for this Certificate of Obligation. The payment
<br />of interest on this Certificate of Obligation shall be made by the Paying AgentJRegistrar to the registered
<br />owner hereof on the interest payment date by check or draft, dated as of such interest payment date, drawn
<br />by the Paying AgentJRegistrar on, and payable solely from, funds of the Issuer required by the Ordinance
<br />authorizing the issuance of the Certificates of Obligation (the "Certificate of Obligation Ordinance") to be on
<br />deposit with the Paying Agent! Registrar for such purpose as hereinafter provided; and such check or draft
<br />shall be sent by the Paying AgentJRegistrar by United States mail, first-class postage prepaid, on each such
<br />interest payment date, to the registered owner hereof, atthe address of the registered owner, as it appeared
<br />on the last business day of the month next preceding such date (the "Record Date") on the Registration Books
<br />kept by the Paying AgentJRegistrar, as hereinafter described, or by such other method acceptable to the
<br />Paying AgentJRegistrar requested by, and at the risk and expense of, the registered owner. Any accrued
<br />interest due upon the redemption of this Certificate of Obligation prior to maturity as provided herein shall be
<br />paid to the registered owner at the principal corporate trust office of the Paying AgentJRegistrar upon
<br />presentation and surrender of this Certificate of Obligation for redemption and payment at the principal
<br />corporate trust office ofthe Paying AgentJRegistrar. The Issuer covenants with the registered owner of this
<br />Certificate of Obligation that on or before each principal payment date, interest payment date, and accrued
<br />interest payment date for this Certificate of Obligation, it will make available to the Paying AgentJRegistrar,
<br />from the "Interest and Sinking Fund" created by the Certificate of Obligation Ordinance, the amounts required
<br />to provide for the payment, in immediately available funds, of all principal of and interest on the Certificates
<br />of Obligation, when due.
<br />
<br />IF THE DATE for the payment of the principal of or interest on this Certificate of Obligation shall
<br />be a Saturday, Sunday, a legal holiday, or a day on which banking institutions in the city where the Paying
<br />AgentJRegistrar is located are authorized by law or executive order to close, then the date for such payment
<br />shall be the next succeeding day which is not such a Saturday, Sunday, legal holiday, or day on which banking
<br />institutions are authorized to close; and payment on such date shall have the same force and effect as if made
<br />on the original date payment was due.
<br />
<br />THIS CERTIFICATE OF OBLIGATION is one of an issue of Certificates of Obligation initially
<br />dated September 1,2002, authorized in accordance with the Constitution and laws of the State of Texas in
<br />the original principal amount of $6,060,000, for paying all or a portion of the City's contractual obligations for
<br />
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