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<br /> <br /> <br /> <br /> <br /> <br /> FORM OF SUBSTITUTE BOND <br /> <br /> PRINCIPAL <br /> <br /> NO. AMOUNT <br /> UNITED STATES OF AMERICA <br /> STATE OF TEXAS <br /> COUNTY OF LAMAR <br /> CITY OF PARIS, TEXAS <br /> TAX AND REVENUE REFUNDING BOND <br /> SERIES 1991 <br /> <br /> INTEREST MATURITY DATE OF CUSIP <br /> RATE DATE ORIGINAL ISSUE NO. <br /> % November l, 1991 <br /> <br /> <br /> ON THE MATURITY DATE specified above THE CITY OF PARIS, in Lamar <br /> County, Texas (the "Issuer"), being a political subdivision of the State of Texas, hereby <br /> promises to pay to <br /> ~ <br /> or to the registered assignee hereof (either being hereinafter called the "registered owner") <br /> the principal amount of <br /> <br /> and to pay interest thereon from November 1, 1991 to the maturity date specified above, or <br /> the date of redemption prior to maturity, at the interest rate per annum specified above; <br /> with interest being payable on June 15, 1992 and semiannually thereafter on each December <br /> 15 and June 15, except that if the date of authentication of this Bond is later than May 31, <br /> 1992, such principal amount shall bear interest from the interest payment date next <br /> preceding the date of authentication, unless such date of authentication is after any Record <br /> Date (hereinafter defined) but on or before the next following interest payment date, in <br /> which case such principal amount shall bear interest from such next following interest <br /> payment date. <br /> <br /> THE PRINCIPAL OF AND INTEREST ON this Bond are payable in lawful money <br /> of the United States of America, without exchange or collection charges. The principal of <br /> this Bond shall be paid to the registered owner hereof upon presentation and surrender of <br /> this Bond at maturity or upon the date fixed for its redemption prior to maturity, at the <br /> principal corporate trust office of NCNB Texas National Bank, Dallas, Texas, which is the <br /> "Paying Agent/Registrar" for this Bond. The payment of interest on this Bond shall be made <br /> by the Paying Agent/Registrar to the registered owner hereof on each interest payment date <br /> by check or draft, dated as of such interest payment date, drawn by the Paying Agent/Regis- <br /> trar on, and payable solely from, funds of the Issuer required by the ordinance authorizing <br /> the issuance of the Bonds (the "Bond Ordinance") to be on deposit with the Paying <br /> Agent/Registrar for such purpose as hereinafter provided; and such check or draft shall be <br /> sent by the Paying Agent/Registrar by United States Mail, first-class postage prepaid, on <br /> <br /> 15 <br />