84-087 ORD AUTHORIZING ISSUANCE OF CERTIFICATES OF OBLIGATION

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~ , 3 1 ~i ~ 1 S respectively, substantially as follows, with such appropriate ' variations, omissions, or insertions as are permitted or requi red by thi s Ordinance. ~i FORM OF SUBSTITUTE CERTIFICATE OF OBLIGATION ~ NO. PRINCIPAL ~ AMOUNT $ UNITED STATES OF AMERICA ; STATE OF TEXAS § COUNTY OF LAMAR CITY OF PARIS, TEXAS ~ COMBINATION TAX & SOLID WASTE DISPOSAL SYSTEM REVENUE ~ CERTIFICATE OF OBLIGATION SERIES 1984 ~ INTEREST RATE MATURITY DATE DATE OF ORIG. ISSUE CUSIP N0. % , R ~ ~ ON THE MATURITY DATE specified above, THE CITY OF PARIS ;(the "Issuer"), being a political subdivision of the State of Texas, hereby promises to pay to or to the registered assignee hereof (either being hereinafter i; called the "registered owner" ) the principal amount of ! and to pay interest thereon from December 15, 1984 to the ma- turity date specified above at the interest rate per annum specified above with interest being payable on June 15, 1985 and semiannually on each December 15 and June 15 thereafter; except that if the date of authentication of this Certificate of Obligation is later than May 31, 1985, such principal amount k shall bear interest from the interest payment date next preced- ~ ing the date of authentication, unless such date of authentica- ; tion is after any Record Date (hereinafter defined) but on or before the next following interest payment date, in which case ~ ; such principal amount shall bear interest from such next ~ following interest payment date. ~ ~ ! THE PRINCIPAL OF AND INTEREST ON this Certificate of Obli- e gation are payable in lawful money of the United States of America, without exchange or collection charges. The principal of this Certificate of Obligation shall be paid to the regis- tered owner hereof upon presentation and surrender of this Cer- ± tificate of Obligation at maturity or upon the date fixed for ~ ; its redemption prior to maturity, at the principal corporate ~ + trust office of INTERFIRST BANK DALLAS, N.A., Dallas, Texas, 3 which is the "Paying Agent/Registrar" for this Certificate of ~ ; Obligation. The payment of interest on this Certificate of Obligation shall be made by the Paying Agent/Registrar to the ~ registered owner hereof on the interest payment date by check ; or draft, dated as of such interest payment date, drawn by the ~ Paying Agent/Registrar on, and payable solely from, funds of i the Issuer required by the Ordinance authorizing the issuance ~ of the Certificates of Obligation (the "Certificate of Obliga- ~ tion Ordinance") to be on deposit with the Paying Agent/ Regis- ~ trar for such purpose as hereinafter provided; and such check or draft shall be sent by the Paying Agent/Registrar by United ' States mail, first-class postage prepaid, on each such interest ~ payment date, to the registered owner hereof, at the address of the registered owner, as it appeared on the last business day ~ of the month next preceding such date (the "Record Date") on ~ ~ the Registration Books kept by the Paying Agent/Registrar, as ~ ~ hereinafter described. Any accrued interest due upon the re- ~ ; demption of this Certificate of Obligation prior to maturity as ~ ; provided herein shall be paid to the registered owner at the ~ e principal corporate trust office of the Paying Agent/Registrar ~ upon presentation and surrender of this Certificate of r ; s 13 ~ ~ i