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<br /> <br /> <br /> <br /> <br /> <br /> authorized to close; and payment on such date shall have the same force and effect as if <br /> made on the original date payment was due. <br /> <br /> THIS CERTIFICATE OF OBLIGATION has been authorized in accordance with <br /> the Constitution and laws of the State of Texas in the aggregate principal amount of <br /> $5,000,000, for paying, in whole or in part, contractual obligations for the following purposes: <br /> improvements to the Police and Municipal Courts Building and acquisition of equipment; <br /> improvements to the Solid Waste Department including landfill and compost facilities <br /> together with the acquisition of equipment; improvements to the Fire Department including <br /> construction of fire substations and other improvements to eadsting stations, the purchase of <br /> land for facilities; funding for demolition of dilapidated properties in the community and <br /> related cleanup; the acquisition of equipment; renovation of Central Fire Station into City <br /> Council Meeting Room and related facilities; constructing, improving and equipping <br /> Municipal Parks, including the purchase of land for such purposes; improving the streets in <br /> the Issuer, including the purchase of necessary right of way, overlay of existing streets, <br /> construction, reconstruction, related drainage and constructing drainage improvements in the <br /> Issuer; the purchase of land for Cox Field Airport expansion and the construction of <br /> improvements to Airport terminal together with purchase of Airport equipment, and for <br /> paying legal, fiscal, architectural and engineering fees in connection with such projects. <br /> <br /> ON DECEMBER 15, 2003, or any date thereafter, the unpaid installments of <br /> principal of this Certificate of Obligation may be prepaid or redeemed prior to their <br /> scheduled due dates, at the option of the Issuer, with funds derived from any available <br /> source, as a whole, or in part, and, if in part, the Issuer shall select and designate the <br /> maturity, or maturities, and the amount that is to be redeemed, and if less than a whole ma- <br /> turity is to be called, the Issuer shall direct the Paying Agent/Registrar to call by lot <br /> (provided that a portion of this Certificate of Obligation may be redeemed only in an <br /> integral multiple of $5,000), at the redemption price of the principal amount, plus accrued <br /> interest to the date fixed for prepayment or redemption. <br /> <br /> AT LEAST 30 days prior to the date fixed for any such prepayment or redemption <br /> a written notice of such prepayment or redemption shall be mailed by the Paying Agent/Reg- <br /> istrar to the registered owner hereof. By the date fixed for any such prepayment or <br /> redemption due provision shall be made by the Issuer with the Paying Agent/Registrar for <br /> the payment of the required prepayment or redemption price for this Certificate of <br /> Obligation or the portion hereof which is to be so prepaid or redeemed, plus accrued <br /> interest thereon to the date fixed for prepayment or redemption. If such written notice of <br /> prepayment or redemption is given, and if due provision for such payment is made, all as <br /> provided above, this Certificate of Obligation, or the portion thereof which is to be so <br /> prepaid or redeemed, thereby automatically shall be treated as prepaid or redeemed prior <br /> to its scheduled due date, and shall not bear interest after the date fixed for its prepayment <br /> or redemption, and shall not be regarded as being outstanding except for the right of the <br /> registered owner to receive the prepayment or redemption price plus accrued interest to the <br /> date fixed for prepayment or redemption from the Paying Agent/Registrar out of the funds <br /> <br /> 6 <br />