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<br /> <br /> <br /> <br /> <br /> <br /> FORM OF INITIAL CERTIFICATE OF OBLIGATION <br /> <br /> NO. R-1 $5~000,000 <br /> <br /> UNI'TED STATES OF AMERICA <br /> STATE OF TEXAS <br /> COUNTY OF LAMAR <br /> CITY OF PARIS, TEXAS <br /> CERTIFICATE OF OBLIGATION <br /> SERIFS 1993 <br /> <br /> The CITY OF PARIS, in Lamar County (the "Issuer"), being a political subdivision <br /> of the State of Texas, hereby promises to pay to <br /> <br /> <br /> <br /> or to the registered assignee or assignees of this CertiScate of Obligation or any portion or <br /> portions hereof (in each case, the "registered owner") the aggregate principal amount of <br /> <br /> FIVE MILLION DOLLARS <br /> <br /> in annual installments of principal due and payable on December 15 in each of the years, <br /> and in the respective principal amounts, as set forth in the following schedule: <br /> <br /> YEAR AMOUNT YEAR AMOUNT <br /> <br /> 1994 $20,000 2004 $250,000 <br /> 1995 155,000 2005 265,000 <br /> 1996 165,000 2006 280,000 <br /> 1997 175,000 2007 295,000 <br /> 1998 185,000 2008 310,000 <br /> 1999 195,000 2009 325,000 <br /> 2ppp 2p5,000 2010 345,000 <br /> 2001 215,000 2011 365,000 <br /> 2002 225,000 2012 380,000 <br /> 2003 240,000 2013 405,000 <br /> <br /> and to pay interest, from the date of this Certificate of Obligation hereinafter stated, on the <br /> balance of each such installment of principal, respectively, from time to time remaining <br /> unpaid, at the following rates per annum: <br /> <br /> <br /> <br /> <br /> <br /> 4 <br />