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<br /> i ordinance authorizing the issuance of this Certificate of
<br /> Obligatior_ (the "Certificate of Obligation Ordinance") to be on
<br /> deposit with the Paying Agent/Registrar for such purpose as
<br /> , hereinafter provided; and such check or draft shall be sent by
<br /> ~ the Paying Agent/Registrar by United States mail, first-cl ss
<br /> postage prepaid, on each such principal and/ or inter st
<br /> payment date, to the registered owner hereof, at the address of
<br /> the registered owner, as it appeared on the last business ay
<br /> of the month next preceding each such date (the "Record Dat
<br /> on the Registration Books kept by the Paying Agent/Registr,
<br /> r,
<br /> j as hereinafter described. The Issuer covenants with he
<br /> registered owner of this Certificate of Obligation that on or
<br /> ~ before each principal and/or interest payment date for t is
<br /> € Certificate of Obligation it will make available to the Pay ng
<br /> ~ Agent/Registrar, from the "Interest and Sinking Fund" crea ed
<br /> ~ by the Certificate of Obligation Ordinance, the amounts e-
<br /> ~ quired to provide for the payment, in immediately availa le
<br /> ° funds, of all principal of and interest on this Certificate of
<br /> Obligation, when due.
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<br /> IF THE DATE for the payment of the principal of or int r-
<br /> est on this Certificate of Obligation shall be a Saturday, S n-
<br /> day, a legal holiday, or a day on which banking institutions in
<br /> the city where the Paying Agent/Registrar is located re
<br /> 3 authorized by law or executive order to close, then the d te
<br /> ; for such payment shall be the next succeeding day which is ot
<br /> such a Saturday, Sunday, legal holiday, or day on which banking
<br /> institutions are authorized to close; and payment on such d te
<br /> shall have the same force and effect as if made on the origi al
<br /> ; date payment was due.
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<br /> ~ THIS CERTIFICATE OF OBLIGATION has been authorized 'n
<br /> accordance with the Constitution and laws of the State of Tex s
<br /> for the purpose of paying, in whole or in part, contractu 1
<br /> obligations for improving and extendin the Cit '
<br /> Waterworks and Sewer System, and for pay ng all or a porti~onn f
<br /> the legal, fiscal and engineering fees in connection with th s
<br /> project.
<br /> ON DECEMBER 15, 1994, or on any interest payment da e
<br /> thereafter, the Certificate of Obligation of this Series may e
<br /> redeemed prior to their scheduled maturities, at the option f
<br /> the Issuer, with funds derived from any available source, as a
<br /> whole, or in part, and, if in part, the particular portion f
<br /> , this Certificate of Obligation to be prepaid or redeemed sha 1
<br /> be selected and designated by the Issuer (provided that a po -
<br /> tion of this Certificate of Obligation may be redeemed only 'n
<br /> an integral multiple of $5,000), at the prepayment or redem -
<br /> tion price of the principal amount thereof
<br /> , plus accrued inte -
<br /> est to the date fixed for prepayment or redemption. At lea t
<br /> 20 days prior to the date fixed for any redemption of Certif"-
<br /> cates of Obligation prior to maturity a written notice of su h
<br /> redemption shall be given by the Issuer to the Paying Agen /
<br /> Registrar, and the Paying Agent/Registrar shall send a copy f
<br /> such notice by United States mail, first-class postage prepai
<br /> ~ not less than 15 days prior to the date fixed for any such re-
<br /> demption, to the registered owner of each Certificate of Obli-
<br /> gation to be redeemed at its address as it appeared on the 20t
<br /> day prior to such redemption date; provided, however, that th
<br /> failure to send, mail, or receive such notice, or any defec
<br /> therein or in the sending or mailing thereof, shall not affec
<br /> the validity or effectiveness of the proceedings for the re
<br /> ~ demption of any Certificate of Obligation, and it is hereb
<br /> specifically provided that the giving of notice by the Issue
<br /> ~I to the Paying Agent/Registrar as required above shall be th
<br /> , only notice actually required in connection with or as a pre
<br /> requisite to the redemption of any Certificates of Obligation.
<br /> ! By the date fixed for any such redemption due provision shal
<br /> be made with the Paying Agent/Registrar for the payment of tn
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