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<br /> <br /> <br /> <br /> <br /> FORM OF INITIAL CERTIFICATE OF OBLIGATION <br /> <br /> NO. R-1 $3,300,000 <br /> <br /> UNITED STATES OF AMERICA <br /> STATE OF TEXAS <br /> COUNTY OF LAMAR <br /> CITY OF PARIS, TEXAS <br /> COMBINATION TAX AND UTILITY SYSTEM REVENUE <br /> CERTIFICATE OF OBLIGATION <br /> SERIES 1991 <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 Certificate of Obligation or any portion or <br /> portions hereof (in each case, the "registered owner") the aggregate principal amount of <br /> <br /> THREE MILLION THREE 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 A-MOUNT YEAR AMOUNT <br /> <br /> 1992 $ 70,000 2002 $155,000 <br /> 1993 75,000 2003 170,000 <br /> 1994 80,000 2004 180,000 <br /> 1995 90,000 2005 195,000 <br /> 1996 95,000 2006 215,000 <br /> 1997 105,000 2007 230,000 <br /> 1998 110,000 2008 250,000 <br /> 1999 120,000 2009 270,000 <br /> . 20(}0 130,000 2010 295,000 <br /> 2001 145,000 2011 320,000 <br /> <br /> and to pay interest, from the date of this Certir;Icate of Obligation hereinafter stated, on the <br /> balance of each such installment of principal, respectively, from time to time remaining <br /> unpaid, at the rate of 7.00% per annum until June 15, 1992 and thereafter at the rate oi' <br /> 8.00% per annum, with said interest being payau;e on December 15, 1991, and semiannualf;, <br /> on each June 15 and December 15 thereafter while this Certificate of Obligation or any <br /> portion hereof is outstanding and unpaid. <br /> <br /> 3 <br />