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<br />shall be 15 calendar days after the Special Record Date) shall be sent at least five business days
<br />prior to the Special Record Date by United States mail, first class, postage prepaid, to the address
<br />of each registered owner of a Bond appearing on the books of the Paying AgentlRegistrar at the
<br />close of business on the last business day next preceding the date of mailing of such notice. The
<br />City covenants with the registered owner of this Bond that no later than each principal payment
<br />date and interest payment date for this Bond it will make available to the Paying AgentlRegistrar
<br />the amounts required to provide for the payment, in immediately available funds, of all principal
<br />of and interest on the Bonds, when due, in the manner set forth in the ordinance authorizing the
<br />issuance of the bonds adopted by the City Council of the City on September 27, 1990 (the
<br />"Ordinance").
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<br />*IF TIlE DATE for the payment of the principal of or interest on this Bond shall be a
<br />Saturday, a Sunday, a legal holiday, or a day on which banking institutions in the city where the
<br />Paying AgentlRegistrar is located are authorized by law or executive order to close, then the date
<br />for such payment shall be the next succeeding day which is not such a Saturday, Sunday, legal
<br />holiday, or day on which banking institutions are authurized to close; and payment on such date
<br />shall have the same force and effect as if made on the original date payment was due.
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<br />*TIllS BOND is one of a Series of bonds of like tenor and effect except as to
<br />denomination, number, maturity, interest rate and right of prior redemption, issued in the aggregate
<br />principal amount of $1,500,000 for the purpose of constructing or purchasing a gymnasium, support
<br />facilities, and related improvements in Little Cedar Bayou Park.
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<br />*TIIE BONDS of this series scheduled to mature on and after March IS, 2002 may be
<br />redeemed prior to their scheduled maturities, in whole, or in part in principal amounts of $5,000
<br />or any integral multiple thereof, at the option of the City, on March 15, 2001, or on any interest
<br />payment date thereafter, for the principal amount thereof plus accrued interest to the date fIXed
<br />for redemption.
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<br />· AT LEAST 30 days prior to the date fIXed for any such redemption, a notice of such
<br />redemption shall be published one time in a financial journal or publication of general circulation
<br />in the United States of America carrying as a regular feature notices of municipal bonds called for
<br />redemption. Such notice also shall be sent by the Paying AgentlRegistrar by United States mail,
<br />first-class postage prepaid, at least 30 days prior to the date fixed for any such redemption, to the
<br />registered owner of each Bond or portion thereof to be redeemed at its address as it appeared on
<br />the Registration Books on the 45th day prior to such redemption date and to major securities
<br />depositories, national bond rating agencies, and bond information services; provided, however, that
<br />the failure to send, mail or receive such notice, or any defect therein or in the sending or mailing
<br />thereof, shall not affect the validity or effectiveness of the proceedings for the redemption of any
<br />Bond, and the publication of notice as described above shall be the only notice actually required
<br />in connection with or as a prerequisite to the redemption of any Bonds. By the date fIXed for any
<br />such redemption due provision shall be made by the City with the Paying AgentlRegistrar for the
<br />payment of the required redemption price for this Bond or the portion hereof which is to be so
<br />redeemed, plus accrued interest thereon to the date fIXed for redemption. H such notice of
<br />redemption is given, and if due provision for such payment is made, all as provided above, this
<br />Bond, or the portion thereof which is to be so redeemed, thereby automatically shall be redeemed
<br />prior to its scheduled maturity, and shall not bear interest after the date fIXed for its redemption,
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