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<br /> <br /> <br /> <br /> <br /> <br /> registered assignee or assignees of said Certificate of Obligation or any portion or portions <br /> thereof (in each case, the "registered owner"), with the annual installments of principal of <br /> the Initial Certificate of Obligation to be payable on the dates, respectively, and in the <br /> principal amounts, respectively, stated in the FORM OF INTTIAL CERTEFICATE OF <br /> OBLIGATION set forth in this Ordinance. <br /> <br /> (b) The Initial Certificate of Obligation (i) may be prepaid or redeemed prior to the <br /> respective scheduled due dates of installments of principal thereof, (u) may be assigned and <br /> transferred, (ui) may be converted and exchanged for other Certificates of Obligation, (iv) <br /> shall have the characteristics, and (v) shall be signed and sealed, and the principal of and <br /> interest on the Initial Certificate of Obligation shall be payable, all as provided, and in the <br /> manner required or indicated, in the FORM OF INTTIAL CERTEFICATE OF <br /> OBLIGATION set forth in this Ordinance. <br /> <br /> Section 4. INTEREST. The unpaid principal balance of the Initial Certificate of <br /> Obligation shall bear interest from the date of the Initial Certificate of Obligation, and will <br /> be calculated on the basis of a 360-day year of twelve 30-day months to the respective <br /> scheduled due dates, or to the respective dates of prepayment or redemption, of the <br /> installments of principal of the Initial CertiScate of Obligation, and said interest shall be <br /> payable, all in the manner provided and at the rates and on the dates stated in the FORM <br /> OF INITIAL CERTEFICATE OF OBLIGATION set forth in this Ordinance. <br /> <br /> Section 5. FORM OF INITIAL CERTEFICATE OF OBLIGATION. The form of <br /> the Initial Certificate of Obligadon, including the form of Registradon CertiScate of the <br /> Comptroller of Public Accounts of the State of Texas to be endorsed on the Initial <br /> Certificate of Obligation, shall be substantially as follows: <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> 3 <br />