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<br />ORIGINAL
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<br />is located are authorized by law or executive order to close, then the date for such payment shall be the next
<br />succeeding day which is not such a Saturday, Sunday, legal holiday, or day on which 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 was due.
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<br />THIS BOND is one of a series of bonds of like tenor and effect, except as to denomination, number,
<br />maturity, interest rate, and right of prior redemption, issued in the aggregate principal amount of $1,250,000
<br />for the purpose of providing funds for constructing improvements to the City's Waterworks and Sanitary
<br />Sewer System and for paying costs of issuance.
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<br />THE BONDS of this Series scheduled to mature on and after March 15, 2005 may be redeemed prior
<br />to their scheduled maturities, in whole, or in part in principal amounts of $5,000 or any integral multiple
<br />thereof, at the option of the City, on March 15, 2004, or on any date selected by the City thereafter, at the
<br />redemption price of the par value plus accrued interest to the date fixed for redemption. If less than all of the
<br />Bonds are to be redeemed by the City, the City shall determine the maturity or maturities and the amounts
<br />therewith to be redeemed and shall direct the Paying Agent/Registrar to call by lot Bonds, or portions thereof,
<br />within such maturity or maturities and in such principal amounts, for redemption.
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<br />AT LEAST 30 days prior to the date for any such redemption, a notice of such redemption shall be
<br />sent by the Paying AgentlRegistrar by United States mail, first class, postage prepaid, to the registered owner
<br />of each Bond, or portion thereof to be redeemed, at its address as it appeared on the Registration Books on
<br />the 45th day prior to such redemption date and to major securities depositories, national bond rating agencies,
<br />and bond information services; provided, however, that the failure to send, mail, or receive such notice, or
<br />any defect therein or in the sending or mailing thereof, shall not affect the validity or effectiveness of the
<br />proceedings for the redemption of any Bond. By the date fixed for any such redemption, due provision shall
<br />be made by the Issuer with the Paying Agent/Registrar for the payment of the required redemption price for
<br />this Bond or the portion hereof which is to be so redeemed, plus accrued interest thereon to the date fixed for
<br />redemption. If such notice of redemption is given, and if due provision for such payment is made, all as
<br />provided above, this Bond, or the portion thereof which is to be so redeemed, thereby automatically shall be
<br />redeemed prior to its scheduled maturity, and shall not bear interest after the date fixed for its redemption,
<br />and shall not be regarded as being outstanding except for the right of the registered owner to receive the
<br />redemption price plus accrued interest to the date fixed for redemption from the Paying AgentlRegistrar out of
<br />the funds provided for such payment. The Paying Agent/Registrar shall record in the Registration Books all
<br />such redemptions of principal of this Bond or any portion hereof. If a portion of any Bond shaH be
<br />redeemed, a substitute Bond or Bonds having the same maturity date, bearing interest at the same rate, in any
<br />denomination or denominations in any integral multiple of $5,000, at the written request of the registered
<br />owner, and in an aggregate principal amount equal to the unredeemed portion thereof, will be issued to the
<br />registered owner upon the surrender thereof for cancellation, at the expense of the Issuer, all as provided in
<br />the Ordinance.
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<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 Ordinance, this Bond, or
<br />any unredeemed portion hereof, may, at the request of the registered owner or the assignee or assignees
<br />hereof, be assigned, transferred, 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, as the
<br />case may be, having the same maturity date, and bearing interest at the same rate, in any denomination or
<br />denominations in any integral multiple of $5,000 as requested in writing by the appropriate registered owner,
<br />assignee, or assignees, as the case may be, upon surrender of this Bond to the Paying AgentlRegistrar for
<br />cancellation, all in accordance with the form and procedures set forth in the Ordinance. Among other
<br />requirements for such assignment and transfer, this Bond must be presented and surrendered to the Paying
<br />AgentlRegistrar, together with proper instruments of assignment, in form and with guarantee of signatures
<br />satisfactory to the Paying AgentlRegistrar, evidencing assignment of this Bond or any portion or portions
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