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<br />EXHIBIT B <br /> <br />FORM OF OBLIGATION <br /> <br />UNITED STATES OF AMERICA <br />STATE OF TEXAS <br /> <br />CITY OF LA PORTE, TEXAS, <br />PUBLIC PROPERTY FINANCE CONTRACTUAL OBLIGATION, <br />SERIES 2006 <br /> <br />NUMBER <br />1R_ <br />REGISTERED <br /> <br />DENOMINATION <br />$ <br />REGISTERED <br /> <br />INTEREST <br />RATE: <br /> <br />DATED <br />DATE: <br /> <br />ISSUANCE <br />DATE: <br /> <br />MATURITY <br />DATE: <br /> <br />3.74% <br /> <br />January 1,2006 <br /> <br />January 25,2006 <br /> <br />January 25,2016 <br /> <br />REGISTERED OWNER: <br /> <br />PRINCIPAL AMOUNT: <br /> <br />DOLLARS <br /> <br />THE CITY OF LA PORTE, TEXAS, a municipal corporation of the State of Texas (the <br />"City"), for value received, hereby promises to pay to the Registered Owner identified above or <br />its registered assigns, on the Maturity Date specified above upon presentation and surrender of <br />this Obligation at the principal corporate trust office of Wachovia Bank, National Association, <br />Austin, Texas, or its successor (the "Paying AgentlRegistrar"), the principal amount identified <br />above payable in any coin or currency of the United States of America which on the date of <br />payment of such principal is legal tender for the payment of debts due to the United States of <br />America, and to pay interest thereon at the rate shown above (as may be adjusted pursuant to the <br />terms of the Ordinance), calculated on a basis of a 360-day year composed of twelve 30-day <br />months, from the later of the Issue Date identified above or the most recent interest payment date <br />to which interest has been paid or duly provided for. Interest on this Obligation is payable on <br />July 25, 2006, and each January 25 and July 25 thereafter until maturity or earlier redemption of <br />this Obligation, by check sent by United States mail, first class, postage prepaid, by the Paying <br />AgentlRegistrar to the Registered Owner of record as of the close of business on the tenth day of <br />the month next preceding the applicable interest payment date, as shown on the registration <br />books kept by the Paying AgentlRegistrar. Any accrued interest payable at maturity shall be <br />paid upon presentation and surrender of this Obligation at the office of the Paying <br />AgentlRegistrar . <br /> <br />I Initial Obligation shall be numbered T -1. <br /> <br />B-1 <br /> <br />HOU:25 16661.4 <br />