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transfer of only a portion of this Bond, may be delivered by the Paying Agent/Registrar in
<br />conversion of and exchange for this Bond, all in the form and manner as provided in the next
<br />paragraph hereof for the conversion and exchange of other Bonds. The Issuer shall pay the Paying
<br />Agent/Registrar's standard or customary fees and charges for making such transfer, but the one
<br />requesting such transfer shall pay any taxes or other governmental chazges required to be paid with
<br />respect thereto. The Paying Agent/Registrar shall not be required to make transfers of registration
<br />of this Bond or any portion hereof (i) during the period commencing with the close of business on
<br />any Record Date and ending with the opening of business on the next following principal or interest
<br />payment date, or, (ii) with respect to any Bond or any portion thereof called for redemption prior to
<br />maturity, within 45 days prior to its redemption date. The registered owner of this Bond shall be
<br />deemed and treated by the Issuer and the Paying Agent/Registrar as the absolute owner hereof for
<br />all purposes, including payment and discharge of liability upon this Bond to the extent of such
<br />payment, and the Issuer and the Paying Agent/Registrar shall not be affected by any notice to the
<br />contrary.
<br />ALL BONDS OF THIS SERIES are issuable solely as fully registered bonds, without
<br />interest coupons, in the denomination of any integral multiple of $5,000. As provided in the Bond
<br />Ordinance, this Bond, or any unredeemed portion hereof, may, at the request of the registered owner
<br />or the assignee or assignees hereof, be converted into and exchanged for a like aggregate principal
<br />amount of fully registered bonds, without interest coupons, payable to the appropriate registered
<br />owner, assignee, or assignees, as the case may be, having the same maturity date, and beazing
<br />interest at the same rate, in any denomination or denominations in any integral multiple of $5,000
<br />as requested in writing by the appropriate registered owner, assignee, or assignees, as the case may
<br />be, upon surrender of this Bond to the Paying Agent/Registrar for cancellation, all in accordance
<br />with the form and procedures set forth in the Bond Ordinance. The Issuer shall pay the Paying
<br />Agent/Registrar's standard or customary fees and charges for transferring, converting, and
<br />exchanging any Bond or any portion thereof, but the one requesting such transfer, conversion, and
<br />exchange shall pay any taxes or governmental charges required to be paid with respect thereto as a
<br />condition precedent to the exercise of such privilege of conversion and exchange. The Paying
<br />Agent/Registrar shall not be required to make any such conversion and exchange (i) during the
<br />period commencing with the close of business on any Record Date and ending with the opening of
<br />business on the next following principal or interest payment date, or, (ii) with respect to any Bond
<br />or portion thereof called for redemption prior to maturity, within 45 days prior to its redemption date.
<br />IN THE EVENT any Paying Agent/Registrar for the Bonds is changed by the Issuer, resigns,
<br />or otherwise ceases to act as such, the Issuer has covenanted in the Bond Ordinance that it promptly
<br />will appoint a competent and legally qualified substitute therefor, and promptly will cause written
<br />notice thereof to be mailed to the registered owners of the Bonds.
<br />IT IS HEREBY certified, recited, and covenanted that this Bond has been duly and validly
<br />authorized, issued, and delivered; that all acts, conditions, and things required or proper to be
<br />performed, exist, and be done precedent to or in the authorization, issuance, and delivery of this
<br />Bond have been performed, existed, and been done in accordance with law, that this Bond is a
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