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interest from such next folloxving interest payment date.
<br />
<br /> THE PRINCIPAL OF AND INTEREST ON this Bond are payable in lmvful money of the United
<br />States of America, xvithout exchange or collection charges. The principal of this Bond shall be paid to the
<br />registered oxvner hereof upon presentation and surrender of this Bond at maturity or upon the date fixed for
<br />its redemption prior to maturity, at the principal corporate trust office of JPMORGAN CHASE BANK,
<br />DALLAS, TEXAS, xvhich is the "Paying Agent/Registrar" for this Bond. The payment of interest on this
<br />Bond shall be made by the Paying Agent/Registrar to the registered oxvner hereof on each interest payment
<br />date by check or draft, dated as of such interest payment date, draxvn by the Paying AgenffRegistrar on, and
<br />payable solely from, funds of the Issuer required by the ordinance authorizing the issuance of the Bonds (the
<br />"Bond Ordinance") to be on deposit xvith the Paying Agent/Registrar for such purpose as hereinafter provided;
<br />and such check or draft shall be sent by the Paying Agent/Registrar by United States Mail, first-class postage
<br />prepaid, on each such interest payment date, to the registered oxvner hereof, at the address of the registered
<br />oxvner, as it appeared on the last business day of the month next preceding each such date (the "Record
<br />Dale") on the Registration Books kept by the Paying Agent/Registrar, as hereinafter described, or by such
<br />other method acceptable to the Paying AgenffRegistrar requested by, and the risk and expense of, the
<br />registered oxvner. Any accrued interest due upon the redemption of this Bond prior to maturity as provided
<br />herein shall be paid to the registered oxvner upon presentation and surrender of this Bond for redemption and
<br />payment at the prmcipal corporate trust office of the Paying Agent/Registrar. The Issuer covenants xvith the
<br />registered oxvner of this Bond that on or before each principal payment date, interest payment date, and
<br />accrued interest payment date for this Bond it xvill make available to the Paying Agent/Registrar, from the
<br />"Interest and Sinking Fund" created by the Bond Ordinance, the amounts required to provide for the payment,
<br />in immediately available funds, of all principal of and interest on the Bonds, xvhen due.
<br />
<br /> IF THE DATE for the payment of the principal of or interest on this Bond shall be a Saturday,
<br />Sunday, a legal holiday, or a day on xvhich banking institutions in the City xvhere the Paying AgenffRegistrar
<br />is located are authorized by lmv or executive order to close, then the date for such payment shall be the next
<br />succeeding day xvhich is not such a Saturday, Sunday, legal holiday, or day on xvhich banking institutions are
<br />authorized to close; and payment on such date shall have the same force and effect as if made on the original
<br />date payment xvas due.
<br />
<br /> THIS BOND is one of an issue of Bonds initially dated September 1, 2003, authorized in accordance
<br />xvith the Constitution and lmvs of the State of Texas in the principal amount of $7,185,000 for refunding the
<br />Refunded Obligations.
<br />
<br /> ON DECEMBER 15, 2009, or any date thereafter, the unpaid installments of prmcipal of this Bond
<br />may be prepaid or redeemed prior to their scheduled due dates, at the option of the Issuer, xvith funds derived
<br />from any available source, as a xvhole, or in part, and, if in part, the Issuer shall select and designate the
<br />maturity, or maturities, and the amount that is to be redeemed, and if less than a xvhole maturity is to be called,
<br />the Issuer shall direct the Paying AgenffRegistrar to call by lot (provided that a portion of this Bond may be
<br />redeemed only in an integral multiple of $5,000), at the redemption price of the principal amount, plus accrued
<br />interest to the date fixed for prepayment or redemption.
<br />
<br /> AT LEAST 30 days prior to the date fixed for any such prepayment or redemption, a xvritten notice
<br />of such prepayment or redemption shall be mailed by United States mail, first class postage pre-paid, by the
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