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<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 has been authorized in accordance with the Constitution
<br />and laws of the State of Texas, in the principal amount of $6,060,000, for paying all or a portion of the City's
<br />contractual obligations for the purpose of acquiring an 83,000 sq. ft. building situated on 23 acres being
<br />referred to as the DARCO Building, which will be converted to a law enforcement center for police, courts
<br />and jail, and other improvements related thereto; and for paying legal, fiscal, architectural and engineering fees
<br />in connection with these projects.
<br />
<br />ON DECEMBER 15, 2012, or any date thereafter, the unpaid installments of principal of this
<br />Certificate of Obligation may be prepaid or redeemed prior to their scheduled due dates, at the option of the
<br />Issuer, with funds derived from any available source, as a whole, or in part, and, if in part, the Issuer shall
<br />select and designate the maturity, or maturities, and the amount that is to be redeemed, and if less than a
<br />whole maturity is to be called, the Issuer shall direct the Paying AgentJRegistrar to call by lot (provided that
<br />a portion of this Certificate of Obligation may be redeemed only in an integral multiple of $5,000), at the
<br />redemption price of the principal amount, plus accrued interest to the date fixed for prepayment or
<br />redemption.
<br />
<br />AT LEAST 30 days prior to the date fixed for any such prepayment or redemption a written notice
<br />of such prepayment or redemption shall be mailed by the Paying AgentJRegistrar to the registered owner
<br />hereof. By the date fixed for any such prepayment or redemption due provision shall be made by the Issuer
<br />with the Paying AgentJRegistrar for the payment of the required prepayment or redemption price for this
<br />Certificate of Obligation or the portion hereof which is to be so prepaid or redeemed, plus accrued interest
<br />thereon to the date fixed for prepayment or redemption. If such written notice of prepayment or redemption
<br />is given, and if due provision for such payment is made, all as provided above, this Certificate of Obligation,
<br />or the portion thereof which is to be so prepaid or redeemed, thereby automatically shall be treated as prepaid
<br />or redeemed prior to its scheduled due date, and shall not bear interest after the date fixed for its prepayment
<br />or redemption, and shall not be regarded as being outstanding except for the right of the registered owner to
<br />receive the prepayment or redemption price plus accrued interest to the date fixed for prepayment or
<br />redemption from the Paying AgentJRegistrar out of the funds provided for such payment. The Paying
<br />AgentJRegistrar shall record in the Registration Books all such prepayments or redemptions of principal of
<br />this Certificate of Obligation or any portion hereof.
<br />
<br />THIS CERTIFICATE OF OBLIGATION, to the extent of the unpaid or unredeemed principal
<br />balance hereof, or any unpaid and unredeemed portion hereof in any integral multiple of $5,000, may be
<br />assigned by the initial registered owner hereof and shall be transferred only in the Registration Books of the
<br />Issuer kept by the Paying AgentJRegistrar acting in the capacity of registrar for this Certificate of Obligation,
<br />upon the terms and conditions set forth in the Certificate of Obligation Ordinance. Among other requirements
<br />for such transfer, this Certificate of Obligation must be presented and surrendered to the Paying
<br />AgentJRegistrar for cancellation, together with proper instruments of assignment, in form and with guarantee
<br />of signatures satisfactory to the Paying AgentJRegistrar, evidencing assignment by the initial registered owner
<br />of this Certificate of Obligation, or any portion or portions hereof in any integral multiple of $5,000, to the
<br />assignee or assignees in whose name or names this Certificate of Obligation or any such portion or portions
<br />hereof is or are to be transferred and registered. Any instrument or instruments of assignment satisfactory
<br />to the Paying AgentJRegistrar may be used to evidence the assignment of this Certificate of Obligation or any
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