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<br />interest from such next following interest payment date.
<br />
<br />1HE PRINCIPAL OF AND INTEREST ON this Bond are payable in lawful money of the United
<br />States of America, without exchange or collection charges. The principal of this Bond shall be paid to the
<br />registered owner hereof upon presentation and surrender of this Bond at maturity or upon the date fixed for
<br />its redemption prior to maturity, at the principal corpomte trust office of JPMORGAN CHASE BANK,
<br />DALLAS, TEXAS, which is the "Paying Agent/Registmr" for this Bond. The payment of interest on this
<br />Bond shall be made by the Paying Agent/Registmr to the registered owner hereof on each interest payment
<br />date by check or draft, dated as of such interest payment date, dmwn by the Paying Agent/Registrar on, and
<br />payable solely from, funds of the Issuer required by the ordinance authorizing the issuance of the Bonds (the
<br />"Bond Ordinance") to be on deposit with the Paying Agent/Registmr for such pwpose as hereinafter provided;
<br />and such check or dmft shall be sent by the Paying Agent/Registmr by United States Mail, first-class postage
<br />prepaid, on each such interest payment date, to the registered owner hereof, at the address of the registered
<br />owner, as it appeared on the last business day of the month next preceding each such date (the "Record
<br />Date") on the Registration Books kept by the Paying AgentJRegistmr, as hereinafter described, or by such
<br />other method acceptable to the Paying Agent/Registmr requested by, and the risk and expense of, the
<br />registered owner. Any accrued interest due upon the redemption of this Bond prior to maturity as provided
<br />herein shall be paid to the registered owner upon presentation and surrender of this Bond for redemption and
<br />payment at the principal corpomte trust office of the Paying Agent/Registmr. The Issuer covenants with the
<br />registered owner of this Bond that on or before each principal payment date, interest payment date, and
<br />accrued interest payment date for this Bond it will make available to the Paying Agent/Registmr, from the
<br />"Interest and Sinking Fund" created by the Bond Ordinance, the amounts required to provide for the payment,
<br />in immediately available funds, of all principal of and interest on the Bonds, when due.
<br />
<br />IF 1HE 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 located are authorized by law or executive order to close, then the date for such payment shall be the next
<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 1, 2003, authorized in accordance
<br />with the Constitution and laws of the State of Texas in the principal amount of $7,130,000 for refunding the
<br />Refunded Obligations.
<br />
<br />ON DECEMBER 15, 2009, or any date thereafter, the unpaid installments of principal of this Bond
<br />may be prepaid or redeemed prior to their scheduled due dates, at the option of the Issuer, with funds derived
<br />from any available source, as a whole, or in part, and, if in part, the Issuer shall select and designate the
<br />maturity, or maturities, and the amount that is to be redeemed, and if less than a whole maturity is to be called,
<br />the Issuer shall direct the Paying Agent/Registrar to call by lot (provided that a portion of this Bond may be
<br />redeemed only in an integral multiple of $5,000), at the redemption price of the principal amount, plus accrued
<br />interest to the date fixed for prepayment or 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 United States mail, first class postage pre-paid, by the
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