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THIS BOND is one of a series of Bonds dated July 1, 2013, authorized in accordance with the
<br />Constitution and laws of the State of Texas in the principal amount of $33,925,000 for the public
<br />purposes of constructing and acquiring improvements and equipping the Issuer's waterworks and
<br />sewer system, to -wit: for replacing and extending water distribution lines and sewer collection lines
<br />and constructing repairs to streets and drainage infrastructure necessitated by such water and sewer
<br />line construction, and to pay the costs incurred in connection with the issuance of the Bonds.
<br />ON DECEMBER 15, 2023, OR ON ANY DATE THEREAFTER, the outstanding Bonds of
<br />this series that mature on and after December 15, 2024 may be redeemed prior to their scheduled
<br />maturities, at the option of the Issuer, with funds derived from any available and lawful source, as a
<br />whole, or in part, and, if in part, the particular Bonds, or portions thereof, to be redeemed shall be
<br />selected and designated by the Issuer (provided that a portion of a Bond may be redeemed only in an
<br />integral multiple of $5,000), at a redemption price equal to the principal amount to be redeemed plus
<br />accrued interest to the date fixed for redemption.
<br />AT LEAST 30 days prior to the date fixed for any redemption of Bonds or portions thereof
<br />prior to maturity a written notice of such redemption shall be sent by the Paying Agent/Registrar by
<br />United States mail, first -class postage prepaid to the registered owner of each Bond to be redeemed
<br />at its address as it appeared on the registration books of the Paying Agent /Registrar at the close of
<br />business on the business day next preceding the date of mailing such notice; provided, however, that
<br />the failure of the registered owner to receive such notice, or any defect therein or in the sending or
<br />mailing thereof, shall not affect the validity or effectiveness of the proceedings for the redemption of
<br />any Bond. By the date fixed for any such redemption due provision shall be made with the Paying
<br />Agent /Registrar for the payment of the required redemption price for the Bonds or portions thereof
<br />that are to be so redeemed. If such written notice of redemption is sent and if due provision for such
<br />payment is made, all as provided above, the Bonds or portions thereof that are to be so redeemed
<br />thereby automatically shall be treated as redeemed prior to their scheduled maturities, and they shall
<br />not bear interest after the date fixed for redemption, and they shall not be regarded as being
<br />outstanding except for the right of the registered owner to receive the redemption price from the
<br />Paying Agent /Registrar out of the funds provided for such payment. If a portion of any Bond shall be
<br />redeemed, a substitute Bond or Bonds having the same maturity date, bearing interest at the same rate,
<br />in any denomination or denominations in any integral multiple of $5,000, at the written request of the
<br />registered owner, and in aggregate principal amount equal to the unredeemed portion thereof, will be
<br />issued to the registered owner upon the surrender thereof for cancellation, at the expense ofthe Issuer,
<br />all as provided in the Bond Ordinance.
<br />ALL BONDS OF THIS SERIES are issuable solely as fully registered bonds, without interest
<br />coupons, in the denomination of any integral multiple of $5,000. As provided in the Bond Ordinance,
<br />this Bond may, at the request of the registered owner or the assignee or assignees hereof, be assigned,
<br />transferred, converted into and exchanged for a like aggregate principal amount of fully registered
<br />Bonds, without interest coupons, payable to the appropriate registered owner, assignee or assignees,
<br />as the case may be, having the same denomination or denominations in any integral multiple of $5,000
<br />as requested in writing by the appropriate registered owner, assignee or assignees, as the case may be,
<br />upon surrender of this Bond to the Paying Agent /Registrar for cancellation, all in accordance with the
<br />form and procedures set forth in the Bond Ordinance. Among other requirements for such assignment
<br />and transfer, this Bond must be presented and surrendered to the Paying Agent /Registrar, together
<br />with proper instruments of assignment, in form and with guarantee of signatures satisfactory to the
<br />Paying Agent /Registrar, evidencing assignment of this Bond or any portion or portions hereof in any
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