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e e' "Bond Ordinance") to be on deposit with the Paying AgentlRegistrar for such purpose as hereinafter provided; and such check shall be sent by the Paying Agent/Registrar by United States mail, frrst-class postage prepaid, on each such interest payment date, to the registered owner hereof, at its address as it appeared on the last business day of the month next preceding each such date (the "Record Date") on the Registration Books kept by the Paying Agent/Registrar, as hereinafter described. In addition, interest may be paid by such other method, acceptable to the Paying AgentlRegistIar, requested by, and at the risk and expense of, the registered owner. TillS BOND is one of a Series of Bonds dated as of April 1, 1994, authorized in accordance with the Constitu- tion and laws of the State of Texas in the original principal amount of $7,445,000 FOR THE PURPOSE OF PROVIDING FUNDS TO REFUND CERTAIN OF THE ISSUER'S OUTSTANDING OBLIGATIONS (as described in the preamble to the Bond Ordinance). REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THE BOND SET FORTH ON THE REVERSE HEREOF, WillCH PROVISIONS SHALL HAVE THE SAME FORCE AND EFFECT AS IF SET FORTH IN THIS SPACE. IN WITNESS WHEREOF, the Issuer has caused this Bond to be signed with the manual or facsimile signature of the Mayor of the Issuer and countersigned with the manual or facsimile signature of the City Secretary of the Issuer, and has caused the official seal of the Issuer to be duly impressed, or placed in facsimile, on this Bond. CITY OF LA PORTE, TEXAS xxxxxxxxxxxxx City Secretary City of La Porte, Texas xxxxxxxxxxxxx Mayor City of La Porte, Texas [ponn of Back Panel of Bond] THE BONDS are issued pursuant to the Bond Ordinance whereunder the Issuer covenants to levy a continuing direct annual ad valorem tax on taxable property within the Issuer, not to exceed $2.50 per assessed $100 valuation, as provided in Article XI, Section 5 of the Texas Constitution, for each year while any part of the Bonds are considered outstanding under the provisions of the Bond Ordinance, in sufficient amount to pay interest on each Bond as it becomes due, to provide a sinking fund for dIe payment of the principal of the Bonds when due, and to pay the expenses of assessing and collecting such tax, all as more specifically provided in the Bond Ordinance. Reference is hereby made to the Bond Ordinance for provisions with respect to dIe custody and application of the Issuer's funds, remedies in the event of a default hereunder or thereunder, and the other rights of the registered owner. TillS BOND IS TRANSFERABLE OR EXCHANGEABLE only upon presentation and surrender at the principal corporate office of the Paying Agent/Registrar. If this Bond is being transferred, it shall be duly endorsed for transfer or accompanied by an assignment duly executed by the registered owner, or his authorized representative, subject to the tenns and conditions of the Bond Ordinance, ANY ACCRUED INTEREST DUE at maturity or upon the redemption of this Bond prior to maturity as provided herein shall be paid to the registered owner upon presentation and surrender of this Bond for redemption and payment at the principal corporate trust office of the Paying Agent/RegistIar. The Issuer covenants with the registered owner of this Bond that on or before each principal payment date, interest payment date, and accrued interest payment date for this Bond it will make available to the Paying Agent/Registrar, from the "Interest and Sinking Fund" created by the Bond Ordinance, the amounts required to provide for the payment, in immediately available funds, of all principal of and interest on the Bonds, when due. IF THE DATE for the payment of the principal of or interest on this Bond shall be a Saturday, a Sunday, a legal holiday, or a day on which banking institutions in the city where the principal corporate trust office of the 5