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<br /> ~;,Obligation for redemption and payment at the principal
<br /> corporate trust office of the Paying Agent/Registrar. The
<br /> 'Issuer covenants with the registered owner of this Certificate
<br /> '.of Obligation that on or before each principal payment date,
<br /> 'interest payment date, and accrued interest payment date for
<br /> this Certificate of Obligation, it will make available to the
<br /> ;Paying Agent/Registrar, from the "Interest and Sinking Fund"
<br /> ;created by the Certificate of Obligation Ordinance, the amounts ~
<br /> j required to provide for the payment, in immediately available
<br /> `funds, of all principal of and interest on the Certificates of ~
<br /> Obligation, when due.
<br /> ~ IF THE DATE for the payment of the principal of or inter-
<br /> 1!est on this Certificate of Obligation shall be a Saturday,
<br /> I'Sunday, a legal holiday, or a day on which banking institutions ~
<br /> ;iin the city where the Paying Agent/Registar is located are au- "
<br /> g!thorized by law or executive order to close, then the date for
<br /> isuch payment shall be the next succeeding day which is not such
<br /> a Saturday, Sunday, legal holiday, or day on which banking
<br /> g institutions are authorized to close; and payment on such date
<br /> 3 shall have the same force and effect as if made on the original
<br /> date payment was due.
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<br /> THIS CERTIFICATE OF OBLIGATION is one of an issue of
<br /> Certificates of Obligation initially dated December 15, 1984,
<br /> authorized in accordance with the Constitution and laws of the
<br /> ~ State of Texas in the original principal amount of $1,000,000,
<br /> ~for the purpose of paying, in whole or in part, contractual
<br /> ~ obligations for constructing and improving the City's Solid
<br /> ; Waste Disposal System, to-wit: closure of old municipal land
<br /> fill area and acquisition, construction and improvement of new
<br /> municipal land fill area, and for paying all or a portion of
<br /> j{the legal, fiscal and engineering fees in connection with this
<br /> ~ pro j ect
<br /> ON DECEMBER 15, 1989, or on any interest payment date
<br /> thereafter, the Certificates of Obligation of this Series may
<br /> be redeemed prior to their scheduled maturities, at the option
<br /> ~'of the Issuer, with funds derived from any available source, as
<br /> a whole, or in part, and, if in part, the maturity or
<br /> j maturities of Certificates of Obligations and the amounts
<br /> threof, to be redeemed shall be selected and designated by the
<br /> ~ Issur, and the Issuer shall direct the Paying Agent/Registrar
<br /> to call by lot Certificates of Obligation, or portions thereof
<br /> o'within such maturities and in such principal amounts for
<br /> redemption (provided that a portion of this Certificate of
<br /> Obligation may be redeemed only in an integral multiple of
<br /> ~$5,000), at the redemption price of the principal amount
<br /> ? thereof, plus accrued interest to the date fixed for prepayment
<br /> ~ or redemption. At least 30 days prior to the date fixed for
<br /> ' any redemption of Certificates of Obligation prior to maturity
<br /> ~ a written notice of such redemption shall be given by the
<br /> ~ Issuer to the Paying Agent/Registrar, and the Paying Agent/Reg- ~
<br /> istrar shall send a copy of such notice by United States mail, ~
<br /> ~ first-class postage prepaid, not less than 15 days prior to the ~
<br /> date fixed for any such redemption, to the registered owner of ~
<br /> each Certificate of Obligation to be redeemed at its address as
<br /> sit appeared on the 30th day prior to such redemption date;
<br /> 'provided, however, that the failure to send, mail, or receive
<br /> such notice, or any defect therein or in the sending or mailing
<br /> 'thereof, shall not affect the validity or effectiveness of the ~
<br /> ~ proceedings for the redemption of any Certificate of Obliga-
<br /> ~ tion, and it is hereby specifically provided that the giving of
<br /> notice by the Issuer to the Paying Agent/Registrar as required
<br /> above shall be the only notice actually required in connection
<br /> ~ with or as a prerequisite to the redemption of any Certificates
<br /> ? of Obligation. By the date fixed for any such redemption due
<br /> ;provision shall be made with the Paying Agent/Registrar for the
<br /> payment of the required redemption price for the Certificates ~
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