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<br /> <br /> <br /> <br /> <br /> <br /> FORM OF INITIAL BOND <br /> <br /> NO. R-1 $9,700,000 <br /> <br /> UNITED STATES OF AMERICA <br /> STATE OF TEXAS <br /> COUNTY OF LAMAR <br /> CITY OF PARIS, TEXAS <br /> WATERWORKS AND SEWER SYSTEM REVENUE BOND <br /> SERIES 1992 <br /> <br /> The CITY OF PARIS, in Lamar County, Texas (the "Issuer"), being a political <br /> subdivision of the State of Texas, hereby promises to pay to <br /> <br /> <br /> <br /> or to the registered assignee or assignees of this Bond or any portion or portions hereof (in <br /> each case, the "registered owner") the aggregate principal amount <br /> <br /> <br /> NINE MILLION SEVEN HUNDRED THOUSAND 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 /> 1992 $240,000 2002 $ 465,000 <br /> 1993 260,000 2003 500,000 <br /> 1994 275,000 2004 535,000 <br /> 1995 295,000 2005 565,000 <br /> 1996 315,000 2006 610,000 <br /> 1997 335,000 2007 6507000 <br /> 1998 355,000 2008 6957000 <br /> 1999 380,000 2009 745,000 <br /> 2000 405,000 2010 795,000 <br /> 2001 435,000 2011 845,000 <br /> <br /> and to pay interest, from the date of this Bond hereinafter stated, on the balance of each <br /> such installment of principal, respectively, from time to time remaining unpaid, at the rates <br /> as follows: <br /> <br /> <br /> <br /> <br /> 3 <br />