93-056 ORD AUTHORIZING ISSUANCE OF COP TEXAS CERTIFICATES OF OBLIGATION, SERIES 1993

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Agent/Registrar on, and payable solely from, funds of the Issuer required by the order auth- orizing the issuance of the Certificates of Obligation (the "Certificate of Obligation Ordinance") to be on deposit with the Paying Agent/Registrar for such purpose as herein- after provided; and such check or draft shall be sent by the Paying Agent/Registrar by United States mail, first class postage prepaid, on each such interest payment date, to the registered owner hereof, at the address of the registered owner, as it appeared on the last business day of the month next preceding each such date (the "Record Date") on the Regis- tration Books kept by the Paying Agent/Registrar, as hereinafter described, or by such other method acceptable to the Paying Agent/Registrar requested by, and at the risk and expense of, the registered owner. Any accrued interest due upon the redemption of this Certificate of Obligation prior to maturity as provided herein shall be paid to the registered owner at the principal corporate trust office of the Paying Agent/Registrar upon presentation and surrender of this Certificate of Obligation for redemption and payment at the principal corporate trust off'ice of the Paying Agent/Registrar. The Issuer covenants with the registered owner of this Certificate of Obligation that on or before each principal payment date, interest payment date, and accrued interest payment date for this CertiScate of Obligation it will make available to the Paying Agent/Registrar, from the "Interest and Sinking Fund" created by the Certificate of Obligation Ordinance, the amounts required to provide for the payment, in immediately available funds, of all principal of and interest on the Certificates of Obligation, when due. IF THE DATE for thc payment of the principal of or interest on this CertiScate of Obligation shall be a Saturday, Sunday, a legal holiday, or a day on which banking institutions in the city where the Paying Agent/Registrar is located are authorized by law or executive order to close, then the date for such payment shall be the next succeeding day which is not such a Saturday, Sunday, legal holiday, or day on which banking institutions are authorized to close; and payment on such date shall have the same force and effect as if made on the original date payment was due. THIS CERTIFICATE OF OBLIGATION is one of an issue of Certificates of Obligation initially dated December 15,1993, authorized in accordance with the Constitution and laws of the State of Texas in the principal amount of $5,000,000, for paying, in whole or in part, contractual obligations for the following purposes: improvements to the Police and Municipal Courts Building and acquisition of equipment; improvements to the Solid Waste Department including landfill and compost facilities together with the acquisition of equipment; improvements to the Fire Department including construction of 5re substations and other improvements to existing stations, the purchase of land for facilities; funding for demolition of dilapidated properties in the community and related cleanup; the acquisition of equipment; renovation of Central Fire Station into City Council Meeting Room and related facilities; constructing, improving and equipping Municipal Parks, including the purchase of land for such purposes; improving the streets in the Issuer, including the purchase of neeessary right of way, overlay of existing streets, construction, reconstruction, related drainage and constructing drainage improvements in the Issuer; the purchase of land for Cox Field Airport expansion and the construction of improvements to Airport terminal 19