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<br /> <br /> <br /> <br /> <br /> <br /> FORM OF INITIAL BOND <br /> <br /> NO. R-1 $16,110,000 <br /> <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 /> 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 /> SOUTHWEST SECURITIES INCORPORATED <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 /> SIXTEEN MILLION ONE HUNDRED TEN THOUSAND DOLLARS <br /> <br /> in annual instaliments 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 $4457000 2002 $ 770,000 <br /> 1993 465,000 2003 820,000 <br /> 1994 490,000 2004 870,000 <br /> 1995 515,000 2005 930,000 <br /> 1996 545,000 2006 990,000 <br /> 1997 575,000 2007 1,055,000 <br /> 1998 610,000 2008 1,125,000 <br /> 1999 645,000 2009 1,200,000 <br /> 2000 685,000 2010 1,280,000 <br /> 2001 725,000 2011 1,370,000 <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 /> <br /> 4 <br />