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(Information from Section 3 to be inserted) <br />The Issuer promises to pay interest on the unpaid principal amount hereof from the Dated Date <br />above, calculated on the basis of a 360-day year of twelve 30-day months. Interest is payable on <br />September l, 2010 and semiannually on each March 1 and September 1 thereafter to the date of <br />payment of the principal installment specified above; except, that if this Bond is required to be <br />authenticated and the date of its authentication is later than the first Record Date (hereinafter <br />defined), such principal amount shall bear interest from the interest payment date next preceding the <br />date of authentication, unless such date of authentication is after any Record Date but on or before <br />the next following interest payment date, in which case such principal amount shall bear interest <br />from such next following interest payment date; provided, however, that if on the date of <br />authentication hereof the interest on the Bond or Bonds, if any, for which this Bond is being <br />exchanged is due but has not been paid, then this Bond shall bear interest from the date to which <br />such interest has been paid in full." <br />C. The Initial Bond shall be numbered "T-1." <br />Section 7. PLEDGE. <br />(a) The Bonds and any interest payable thereon, and any Additional Obligations which <br />may be issued in accordance herewith and be Outstanding from time to time, and any interest <br />payable thereon, are and shall be secured by and payable from a first lien on and pledge of the <br />Pledged Revenues, subject to the priorities set forth in Section 8 hereof, and from amounts on <br />deposit in the Debt Service Fund created in accordance with Section 8 hereof. In addition, the <br />Bonds (but not any other series of Additional Obligations) are secured by amounts on deposit in the <br />2010 Reserve Fund created in accordance with Section 10 hereof. The Bonds are and will be <br />secured by and payable only from the Pledged Revenues and such funds, as aforesaid, and not from <br />amounts on deposit in any other funds or accounts of the Issuer, and are not secured by or payable <br />from a mortgage or deed of trust on any real, personal or mixed properties of the Issuer. Neither the <br />State of Texas, the City, nor any political corporation, subdivision, or agency of the State of Texas, <br />nor any member of the Board, either individually or collectively, shall be obligated to pay the <br />principal of or the interest on the Bonds and neither the faith and credit nor the taxing power (except <br />as described below) of the State of Texas, the City, or any other political corporation, subdivision, <br />or agency thereof is pledged to the payment of the principal of or the interest on the Bonds. The <br />Registered Owners of the Bonds shall not have the right to demand payment of the principal of or <br />interest on the Bonds from any tax proceeds other than the Sales Tax proceeds levied for the benefit <br />of the Issuer by the City pursuant to the Act, or from any other source. <br />(b) Article 1208, Government Code, applies to the issuance of the Bonds and the pledge <br />of the Pledged Revenues granted by the Issuer under this Section, and is therefore valid, effective, <br />and perfected. Should Texas law be amended at any time while the Bonds are outstanding and <br />unpaid, the result of such amendment being that the pledge of the taxes granted by the Issuer under <br />this Section is to be subject to the filing requirements of Chapter 9, Business & Commerce Code, <br />in order to preserve to the Registered Owners of the Bonds a security interest in said pledge, the <br />Issuer agrees to take such measures as it determines are reasonable and necessary under Texas law <br />15 <br />