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<br />e <br /> <br />e <br /> <br />(Form of Assignment) <br /> <br />ASSIGNMENT <br /> <br />FOR VALUE RECEIVED, the undersigned hereby sells, <br />assigns and transfers unto (Print or typewrite name, address <br />and zip code of transferee) <br /> <br />(Social Security or other identifying number: <br />the within Bond and all rights thereunder, and hereby <br />irrevocably constitutes and appoints <br />attorney to transfer the within Bond on the books kept for <br />registration thereof, with full power of substitution in the <br />premises. <br /> <br />DATED: <br /> <br />NOTICE: The signature on this <br />assignment must correspond <br />with the name of the regis- <br />tered owner as it appears on <br />the face of the within Bond <br />in every particular. <br /> <br />Signature guaranteed by: <br /> <br />Section 10: That the following terms shall have <br />the respective meanings specified: <br /> <br />(a) The term "Additional Bonds" means the addi- <br />tional bonds and other evidences of indebtedness which the <br />City reserves the right to issue under Section 15 hereof. <br /> <br />(b) The term "Bonds" shall mean the $6,000,000 of <br />Bonds authorized by this Ordinance. <br /> <br />(c) The term "City" refers to the City of <br />LaPorte, Texas, or where appropriate to the City Council <br />thereof. <br /> <br />(d) The term "City Council" shall mean the City <br />Council of the City. <br /> <br />(e) The term "Interest and Sinking Fund" means <br />the fund provided for in Section 13 of this Ordinance. <br /> <br />(f) The term "Net Revenues" as used in this Ordi- <br />nance shall mean the gross revenues of the System less the <br />necessary and reasonable expenses of operation and mainte- <br />nance, including all salaries, labor, materials, repairs and <br />extensions necessary to render efficient service1 provided, <br />however, that only such repairs and extensions, as in the <br />judgment of the City Council, reasonably and fairly ex- <br />ercised, are necessary to keep the System in operation and <br />render adequate service to the City and the inhabitants <br />thereof, or such as might be necessary to meet some physical <br />accident or condition which would otherwise impair the Bonds <br />authorized by this Ordinance and any Additional Bonds per- <br />mitted to be issued hereunder, shall be deducted in de- <br />termining "Net Revenues." <br /> <br />(g) The term "Paying Agent/Registrar" shall mean, <br />initially, First City National Bank of Houston, Houston, <br />Texas, or any successor appointed hereunder in its capacity <br />as such. <br /> <br />(h) The term "Reserve Fund" shall mean the fund <br />provided for in Section 14 hereof. <br /> <br />002RDRAW/193BOl <br /> <br />-9- <br />