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Agent/Registrar by United States mail, first-class postage prepaid, on each such interest payment
<br />date, to the Registered Owner hereof, at its address as it appeared on the last day of the month
<br />preceding each such date (the "Record Date") on the Registration Books kept by the Paying
<br />Agent/Registrar, as hereinafter described. In addition, interest may be paid by such other method,
<br />acceptable to the Texas Water Development Board, or such other Registered Owner, requested by,
<br />and at the risk and expense of, the Registered Owner; provided, however, that if this Certificate of
<br />Obligation is owned by the Texas Water Development Board, principal and interest will be paid by
<br />wire transfer or other method acceptable to the Texas Water Development Board, and there will be
<br />no charge. In the event of a non-payment of interest on a scheduled payment date, and for 30 days
<br />thereafter, a new record date for such interest payment (a "Special Record Date") will be established
<br />by the Paying Agent/Registrar, if and when funds for the payment of such interest have been
<br />received from the Issuer. Notice of the Special Record Date and of the scheduled payment date of
<br />the past due interest (which shall be 15 days after the Special Record Date) shall be sent at least five
<br />business days prior to the Special Record Date by United States mail, first-class postage prepaid,
<br />to the address of each owner of a Certificate appearing on the Registration Books at the close of
<br />business on the last business day next preceding the date of mailing of such notice.
<br />ANY ACCRUED INTEREST due at maturity or upon the redemption of this Certificate
<br />prior to maturity as provided herein shall be paid to the Registered Owner upon presentation and
<br />surrender of this Certificate for redemption and payment at the corporate trust office of the Paying
<br />Agent/Registrar. The Issuer covenants with the Registered Owner of this Certificate that on or
<br />before each principal payment date, interest payment date, and accrued interest payment date for this
<br />Certificate it will make available to the Paying Agent/Registrar, from the "Interest and Sinking
<br />Fund" created by the Certificate Ordinance, the amounts required to provide for the payment, in
<br />immediately available funds, of all principal of and interest on the Certificates, when due.
<br />IF THE DATE for the payment of the principal of or interest on this Certificate shall be a
<br />Saturday, Sunday, a legal holiday or a day on which banking institutions in the city where the
<br />designated corporate trust office of the Paying Agent/Registrar is located are authorized by law or
<br />executive order to close, then the date for such payment shall be the next succeeding day that is not
<br />such a Saturday, Sunday, legal holiday or day on which banking institutions are authorized to close;
<br />and payment on such date shall have the same force and effect as if made on the original date
<br />payment was due.
<br />THIS CERTIFICATE is one of a series of Certificates dated as of February l, 2013,
<br />authorized in accordance with the Constitution and laws of the State of Texas in the principal
<br />amount of $2,900,000 to provide funds to provide funds to pay costs of improving the Issuer's
<br />potable water distribution system, to-wit: water line replacements for the Issuer's potable water
<br />distribution system and to pay legal, fiscal, engineering and architectural fees in connection with
<br />such project.
<br />ON June 15, 2023, or on any date thereafter, the Certificates having stated maturities on and
<br />after December 15, 2023, may be redeemed prior to their scheduled maturities, at the option of the
<br />Issuer, with funds derived from any available and lawful source, as a whole, or in part, and, if in
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