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<br />. <br /> <br />e <br /> <br />THIS CERTIFICATE IS TRANSFERABLE OR EXCHANGEABLE only upon presentation and surrender <br />at the designated payment office of the Paying Agent/Registrar. If this Certificate is being transferred, it shall be <br />duly endorsed for transfer or accompanied by an assignment duly executed by the Registered Owner, or his <br />authorized representative, subject to the tenns and conditions of the Ordinance. If this Certificate is being <br />exchanged, it shall be in the principal amount of $5,000 or any integral multiple thereof, subject to the tenns and <br />conditions of the Ordinance. The Registered Owner of this Certificate shall be deemed and treated by the City and <br />the Paying AgentlRegistrar as the absolute owner hereof for all purposes, including payment and discharge of <br />liability upon this Certificate to the extent of such payment, and the City and the Paying Agent/Registrar shall not be <br />affected by any notice to the contrary. <br /> <br />IN THE EVENT any Paying AgentlRegistrar for the Certificates is changed by the City, resigns, or <br />otherwise ceases to act as such, the City has covenanted in the Ordinance that it promptly will appoint a competent <br />and legally qualified substitute therefor, and cause written notice thereof to be mailed to the Registered Owners. <br /> <br />IT IS HEREBY CERTIFIED, COVENANTED, AND REPRESENTED that all acts, conditions, and things <br />necessary to be done precedent to the issuance of the Certificates in order to render the same legal, valid, and <br />binding obligations of the City have happened and have been accomplished and perfonned in regular and due time, <br />fonn, and manner, as required by law; that provision has been made for the payment of the principal of and interest <br />on the Certificates by the levy of a continuing, direct, annual ad valorem tax upon all taxable property within the <br />City, within the limit prescribed by law, and from the above described limited pledge of the surplus revenues of the <br />System; and that issuance of the Certificates does not exceed any constitutional or statutory limitation. <br /> <br />BY BECOMING the Registered Owner of this Certificate, the Registered Owner thereby acknowledges all <br />of the tenns and provisions of the Ordinance, agrees to be bound by such tenns and provisions, and agrees that the <br />tenns and provisions of this Certificate and the Ordinance constitute a contract between each Registered Owner and <br />the City. <br /> <br />FORM OF AUTHENTICATION CERTIFICATE <br />AUTHENTICATION CERTIFICATE <br /> <br />This Certificate of Obligation is one of the Certificates described in and delivered pursuant to the within- <br />mentioned Ordinance, and this Certificate has been issued in conversion of and exchange for, or replacement of, a <br />Certificate, Certificates, or a portion of a Certificate or Certificates of an issue which was originally approved by the <br />Attorney General of the State of Texas and registered by the Comptroller of Public Accounts of the State of Texas. <br /> <br />CHASE BANK OF TEXAS, <br />NA nONAL ASSOCIA nON <br />Paying AgentlRegistrar <br /> <br />Registration Date: <br /> <br />By <br />Authorized Signature <br /> <br />. . . <br /> <br />!FORM OF STATEMENT OF INSURANCE <br />STATEMENT OF INSURANCE] <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />4 <br />