|
<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br /> ALL CERTIFICATES OF OBLIGATION OF THIS SERIES are issuable
<br /> solely as fully registered certificates of obligation, without
<br /> interest coupons, in the denomination of any integral multiple
<br /> of $5,000. As provided in the Certificate of Obligation
<br /> Ordinance, this Certificate of Obligation, or any unredeemed
<br /> portion hereof, may, at the request of the registered owner or
<br /> the assignee or assignees hereof, be converted into and ex-
<br /> changed for a like aggregate principal amount of fully regis-
<br /> tered Certificates of Obligation, without interest coupons,
<br /> payable to the appropriate registered owner, assignee, or
<br /> assignees, as the case may be, having the same maturity date,
<br /> and bearing interest at the same rate, in any denomination or
<br /> denominations in any integral multiple of $5,000 as requested
<br /> in writing by the appropriate registered owner, assignee, or
<br /> assignees, as the case may be, upon surrender of this Certifi-
<br /> cate of Obligation to the Paying Agent/ Registrar for cancella-
<br /> tion, all in accordance with the form and procedures set forth
<br /> in the Certificate of Obligation Ordinance. The Issuer shall
<br /> pay the Paying Agent/Registrar's standard or customary fees and
<br /> charges for transferring, converting, and exchanging any
<br /> Certificate of Obligation or any portion thereof, but the one
<br /> requesting such transfer, conversion, and exchange shall pay
<br /> any taxes or governmental charges required to be paid with
<br /> ~respect thereto as a condition precedent to the exercise of
<br /> such privilege of conversion and exchange. The Paying Agent/
<br /> ~Registrar shall not be required to make any such conversion and
<br /> exchange (i) during the period commencing with the close of
<br /> business on any Record Date and ending with the opening of
<br /> business on the next following principal or interest payment
<br /> date, or, (ii) with respect to any Certificate of Obligation or
<br /> portion thereof called for redemption prior to maturity, within
<br /> 20 days prior to its redemption date.
<br /> IN THE EVENT any Paying Agent/Registrar for the Certifi-
<br /> cates of Obligation is changed by the Issuer, resigns, or
<br /> ~otherwise ceases to act as such, the Issuer has covenanted in
<br /> Ithe Certificate of Obligation Ordinance that it promptly will
<br /> appoint a competent and legally qualified substitute therefor,
<br /> ;and promptly will cause written notice thereof to be mailed to
<br /> the registered owners of the Certificates of Obligation.
<br /> IT IS HEREBY certified, recited, and covenanted that this
<br /> Certificate of Obligation has been duly and validly authorized,
<br /> issued, sold, and delivered; that all acts, conditions, and
<br /> things required or proper to be performed, exist, and be done
<br /> precedent to or in the authorization, issuance, and delivery of
<br /> this Certificate of Obligation have been performed, existed,
<br /> and been done in accordance with law; that this Certificate of
<br /> Obligation is a general obligation of the Issuer, issued on the
<br /> lfull faith and credit thereof; and that ad valorem taxes
<br /> ~sufficient to provide for the payment of the interest on and
<br /> principal of this Certificate of Obligation, as such interest
<br /> ~and principal come due, have been levied and ordered to be
<br /> levied against all taxable property in the Issuer, and have
<br /> been pledged for such payment, within the limit prescribed by
<br /> law, and that this Certificate of Obligation, together with
<br /> other obligations of the Issuer, is additionally secured by and
<br /> Jpayable from a pledge of the revenues of the Issuer's combined
<br /> Waterworks and Sewer System, remaining after payment of all
<br /> operation and maintenance expenses thereof, and all debt
<br /> service, reserve and other requirements in connection with all
<br /> of the Issuer's revenue bonds (now or hereafter outstanding)
<br /> which are payable from all or any part of the Net Revenues of
<br /> the Issuer's combined Wateworks and Sewer System, constituting
<br /> "Surplus Revenues" all as prescribed in the Certificate of
<br /> Obligation Ordinance.
<br /> BY BECOMING the registered owner of this Certificate of
<br /> 'Obligation, the registered owner thereby acknowledges all of
<br /> 16
<br />
|