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<br />created by the Bond Ordinance, the amounts required to provide for the payment, in immediately available
<br />funds, of all principal of and interest on this Bond, 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 has been authorized in accordance with the Constitution and laws of the State of Texas,
<br />in the principal amount of $7,130,000 for refunding the 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
<br />Paying Agent/Registmr to the registered owner hereof. By the date fixed for any such prepayment or
<br />redemption due provision shall be made by the Issuer with the Paying Agent/Registrar for the payment of the
<br />required prepayment or redemption price for this Bond or the portion hereof which is to be so prepaid or
<br />redeemed, plus accrued interest thereon to the date fixed for prepayment or redemption. If such written
<br />notice of prepayment or redemption is given, and if due provision for such payment is made, all as provided
<br />above, this Bond, or the portion thereof which is to be so prepaid or redeemed, thereby automatically shall
<br />be treated as prepaid or redeemed prior to its scheduled due date, and shall not bear interest after the date
<br />fixed for its prepayment or redemption, and shall not be regarded as being outstanding except for the right
<br />of the registered owner to receive the prepayment or redemption price plus accrued interest to the date fixed
<br />for prepayment or redemption from the Paying Agent/Registrar out of the funds provided for such payment.
<br />The Paying Agent/Registrar shall record in the Registration Books all such prepayments or redemptions of
<br />principal of this Bond or any portion hereof.
<br />
<br />THIS BOND, to the extent of the unpaid or unredeemed principal balance hereof, or any unpaid and
<br />unredeemed portion hereof in any integral multiple of $5,000, may be assigned by the initial registered owner
<br />hereof and shall be transferred only in the Registration Books of the Issuer kept by the Paying
<br />Agent/Registrar acting in the capaciy of registrar for the Bonds, upon the terms and conditions set forth in
<br />the Bond Ordinance. Among other requirements for such transfer, this Bond must be presented and
<br />surrendered to the Paying Agent/Registrar for cancellation, together with proper instruments of assignment,
<br />in form and with guarantee of signatures satisfactory to the Paying Agent/Registrar, evidencing assignment
<br />by the initial registered owner of this Bond, or any portion orportions hereof in any integral multiple of$5,000,
<br />to the assignee or assignees in whose name or names this Bond or any such portion or portions hereof is or
<br />are to be transferred and registered. Any instrument or instruments of assignment satisfactory to the Paying
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