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15and March 15thereafter until maturity or earlier redemption of this Certificate, by check sent
<br />by United States mail, first class, postage prepaid, by the Paying Agent/Registrar to the Registered
<br />Owner of record as of the close of business on the last business day of the calendar month
<br />immediately preceding the applicable interest payment date, as shown on the registration books
<br />kept by the Paying Agent/Registrar. Any accrued interest payable at maturity or earlier redemption
<br />shall be paid upon presentation and surrender of this Certificate at the principal corporate trust
<br />office of the Paying Agent/Registrar.
<br />THIS CERTIFICATE IS ONE OF A DULY AUTHORIZED SERIES OF
<br />CERTIFICATES (the “Certificates”) in the aggregate principal amount of $\[13,500,000\] issued
<br />pursuant to an ordinance adopted by the City Council of the City on July 12, 2021 (the
<br />“Ordinance”), for the purpose of providing all or part of the funds to pay contractual obligations
<br />to be incurred for the construction of public works and the purchase of materials, supplies,
<br />equipment, machinery, buildings, land and rights-of-way for authorized needs and purposes and
<br />for the payment of contractual obligations for professional services, to wit (i) planning,
<br />acquisition, design, construction and equipment of a new City Hall, (ii) renovation, improvement
<br />and equipment of existing City buildings, (iii) construction, improvement, extension, upgrade and
<br />development of City streets, including drainage, streetscaping, signalization and other traffic
<br />controls, sidewalks, street lights and the acquisition of any right-of-way, (iv) drainage
<br />improvements, (v) construction, renovation, improvement, and equipment of the City’s water and
<br />sewer system, (vi) purchase of land for and construction, renovation, improvement, and equipment
<br />of the City’s Bay Forest Golf Course and related facilities, and (vii) the cost of professional
<br />services rendered in connection the above listed projects .
<br />THE CITY RESERVES THE RIGHT, at its option, to redeem, prior to their maturity,
<br />Certificates maturing on or after March 15, \[20__\], in whole or in part, in inverse order of maturity,
<br />on March 15, \[20__\], or any date thereafter, at par plus accrued interest to the date fixed for
<br />redemption.
<br />THE CERTIFICATES MAY BE REDEEMED IN PART only in integral multiples of
<br />$5,000. If a Certificate subject to redemption is in a denomination larger than $5,000, a portion of
<br />such Certificate may be redeemed, but only in integral multiples of $5,000. In selecting portions
<br />of Certificates for redemption, each Certificate shall be treated as representing that number of
<br />Certificates of $5,000 denomination which is obtained by dividing the principal amount of such
<br />Certificate by $5,000. Upon surrender of any Certificate for redemption in part, the Paying
<br />Agent/Registrar, in accordance with the provisions of the Ordinance, shall authenticate and deliver
<br />in exchange therefor a Certificate or Certificates of like maturity and interest rate in an aggregate
<br />principal amount equal to the unredeemed portion of the Certificate so surrendered.
<br />NOTICE OF ANY SUCH REDEMPTION, identifying the Certificates or portions thereof
<br />to be redeemed, shall be sent by United States mail, first class, postage prepaid, to the Registered
<br />Owners thereof at their addresses as shown on the books of registration kept by the Paying
<br />Agent/Registrar, not less than thirty (30) days before the date fixed for such redemption. By the
<br />date fixed for redemption, due provision shall be made with the Paying Agent/Registrar for the
<br />payment of the redemption price of the Certificates called for redemption. If such notice of
<br />
<br />of debts due to the United States of America, and to pay interest thereon at the rate shown above, calculated on a basis
<br />of a 360-day year composed of twelve 30-day months, from the later of the Issuance Date identified above or the
<br />most recent interest payment date to which interest has been paid or duly provided for.
<br />A-2
<br />099900.24203 EMF_US 85689791v2
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