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<br />• August 1 and February 1 of each year while this bond is -
<br />outstanding. The principal of this bond and the interest
<br />coupons attached hereto shall be payable to bearer, in
<br />lawful money of the United States of America, without ex-
<br />change or collection charges to the bearer, upon presenta-
<br />tion and surrender of this bond or proper interest coupon at
<br />Bayshore National Bank, La Porte, Texas, or, at the option
<br />of the holder, at First City Bank of La Porte, La Porte,
<br />Texas, which banks shall be the paying agents for this
<br />series of bonds.
<br />PROVIDED, HOWEVER, that said City reserves the
<br />right to redeem, in whole or in part, all bonds of said
<br />series maturing in the years 1991 through 1999 on February 1,
<br />1990, or on any interest payment date thereafter by paying
<br />the principal thereof and accrued interest thereon. If less
<br />than all of said bonds then outstanding are called for
<br />redemption, then the bonds shall be called in inverse numeri-
<br />cal order. Notice of such redemption shall be given in
<br />writing to Bayshore National Bank, La Porte, Texas, at least
<br />thirty (30) days prior to the date fixed for redemption and
<br />written notice shall also be given by publishing a copy of
<br />said notice in a financial publication of general circulation
<br />in the United States one (1) time at least thirty (30) days
<br />• prior to the date fixed for redemption. Any bond or bonds
<br />called for redemption, due provision for the payment of
<br />which having been timely made, shall cease to bear interest
<br />from and after the date fixed for redemption.
<br />THIS BOND IS ONE OF A SERIES OF COUPON BONDS dated
<br />August 1, 1980, issued in the principal amount of $3,850,000,
<br />and together with the other bonds of said series, is issued
<br />for the following purposes, to-wit: (a) $1,850,000 for the
<br />construction of improvements to the City's Sanitary Sewer
<br />System (being the second and final installment out of $2,000,000
<br />authorized for such purpose) and (b) $2,000,000 for refunding
<br />the City of Lomax, Texas, General Obligation Bonds, Series 1980,
<br />dated March 1, 1980, in the aggregate principal amount of
<br />$2,000,000, all under and in strict conformity with the
<br />Constitution and laws of the State of Texas, particularly
<br />Chapters 1 and 7 of Title 22, Revised Civil Statutes of
<br />Texas, 1925, as amended, and by authority of a bond election
<br />held within the City of La Porte on February 24, 1979, and
<br />pursuant to an ordinance lawfully adopted by the City Commis-
<br />sion of said City, which ordinance is of record in the
<br />official minutes of said City Commission.
<br />IT IS HEREBY CERTIFIED, RECITED AND REPRESENTED
<br />that the issuance of this bond, and the series of which it
<br />is a part, is duly authorized by law; that all acts, con-
<br />ditions and things necessary to be done precedent to and in
<br />the issuance of this bond and this series of bonds, in order
<br />to render the same legal, valid and binding obligations of
<br />said City, have been done, have happened, and have been per-
<br />formed in regular and due time, form and manner, as required
<br />by law; that due provision has been made for the payment of
<br />the principal of and interest on this bond, and the series
<br />of which it is a part, by the levy of a. direct annual d
<br />valorem tax upon all taxable property within said City suf-
<br />ficient for said purposes; and that the total indebtedness
<br />of said City, including the entire series of bonds of which
<br />this is one, does not exceed any Constitutional or statutory
<br />limitation.
<br />IN WITNESS WHEREOF, this bond and the interest
<br />coupons attached hereto have been signed by the imprinted or
<br />lithographed facsimile signature of the Mayor of said City
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