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<br /> Agent/Registrar shall not be required to make transfers of registration of this Bond or any
<br /> portion hereof (i) during the period commencing with the close of business on any Record
<br /> Date and ending with the opening of business on the next following principal or interest
<br /> payment date, or, (ii) with respect to any Bond or any portion thereof called for redemption
<br /> prior to maturity, within 45 days prior to its redemption date. The registered owner of this
<br /> Bond shall be deemed and treated by the Issuer and the Paying Agent/Registrar as the
<br /> absolute owner hereof for all purposes, including payment and discharge of liability upon this
<br /> Bond to the extent of such payment, and the Issuer and the Paying Agent/Registrar shall not
<br /> be affected by any notice to the contrary.
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<br /> ALL BONDS OF THIS SERIES are issuable solely as fully registered bonds, without
<br /> interest coupons, in the denomination of any integral multiple of $5,000. As provided in
<br /> the Bond Ordinance, this Bond, or any unredeemed portion hereof, may, at the request of
<br /> the registered owner or the assignee or assignees hereof, be converted into and exchanged
<br /> for a like aggregate principal amount of fully registered bonds, without interest coupons,
<br /> payable to the appropriate registered owner, assignee, or assignees, as the case may be,
<br /> having the same maturity date, and bearing interest at the same rate, in any denomination
<br /> or denominations in any integral multiple of $5,000 as requested in writing by the
<br /> appropriate registered owner, assignee, or assignees, as the case may be, upon sunender of
<br /> this Bond to the Paying Agent/Registrar for cancellation, all in accordance with the form and
<br /> procedures set forth in the Bond Ordinance. T'he Issuer shall pay the Paying
<br /> Agent/Registrar's standard or customary fees and charges for transferring, converting, and
<br /> exchanging any Bond or any portion thereof, but the one requesting such transfer, conver-
<br /> sion, and exchange shall pay any taxes or governmental charges required to be paid with
<br /> respect thereto as a condition precedent to the exercise of such privilege of conversion and
<br /> exchange. The Paying Agent/Registrar shall not be required to make any such conversion
<br /> and exchange (i) during the period commencing with the close of business on any Record
<br /> Date and ending with the opening of business on the next following principal or interest
<br /> payment date, or, (ii) with respect to any Bond or portion thereof called for redemption
<br /> prior to maturity, within 45 days prior to its redemption date.
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<br /> IN THE EVENT any Paying Agent/Registrar for the Bonds is changed by the Issuer,
<br /> resigns, or otherwise ceases to act as such, the Issuer has covenanted in the Bond Ordinance
<br /> that it promptly will appoint a competent and legally qualified substitute therefor, and
<br /> promptly will cause written notice thereof to be mailed to the registered owners of the
<br /> Bonds.
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<br /> IT IS HEREBY certified, recited, and covenanted that this Bond has been duly and
<br /> validly authorized, issued, and delivered; that all acts, conditions, and things required or
<br /> proper to be performed, exist, and be done precedent to or in the authorization, issuance,
<br /> and delivery of this Bond have been performed, existed, and been done in accordance with
<br /> law; that this Bond is a general obligation of the Issuer, issued on the full faith and credit
<br /> thereof; and that ad valorem taxes sufficient to provide for the payment of the interest on
<br /> and principal of this Bond, as such interest comes due, and as such principal matures, have
<br /> been levied and ordered to be levied against all taxable property in the Issuer, and have
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