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<br />September 15, 1985 (the "Initial Date") and shall be in
<br />denominations of $5,000 or any integral multiple thereof up
<br />to the aggregate principal amount scheduled for maturity
<br />during the year involved. Initially, there shall be twenty
<br />(20) Bonds (the "Initial Bonds") numbered consecutively from
<br />R-1 through R-20 in order of their maturity, each in the
<br />principal amount set opposite the year of maturity in the
<br />schedule set forth in Section 3 hereof. Bonds registered
<br />and delivered in exchange for any of the Initial Bonds
<br />surrendered for transfer or exchange shall be numbered from
<br />R-21 upward in the order that they are authenticated and
<br />delivered by the Paying Agent/Registrar hereinafter
<br />designated.
<br />Section 3. That the Bonds shall bear interest
<br />(computed on the basis of a 360-day year of twelve 30-day
<br />months) from the later of the Initial Date or the most
<br />recent date to which interest has been paid or duly provided
<br />for, payable March 15, 1986 and each September 15 and March
<br />15 thereafter, until the principal sum is paid in full. Pay-
<br />ment of interest shall be made to the registered owner of
<br />each Bond as shown on the Bond Register provided for in Sec-
<br />tion 6 hereof as of the last business day of the calendar
<br />month next preceding the interest payment date by check or
<br />draft mailed by First City National Bank of Houston, Houston,
<br />Texas, or its successor (the "Paying Agent/Registrar"), to
<br />the address of each such owner as it appears on such Bond
<br />Register on the date aforesaid. The Bonds shall mature and
<br />become payable, subject to prior redemption in accordance
<br />with the provisions of Section 5 hereof, on March 15 in each
<br />of the years and in the principal amount set forth in the
<br />schedule below, and shall bear interest at the respective
<br />rates per annum set forth opposite the year of maturity in
<br />said schedule, to-wit:
<br />Year of Principal Interest
<br />Maturity Amount Rate
<br />1986 $250, 000 ~;~,5~ ~
<br />1987 250,000 rC~.~c~ ~
<br />1988 250, 000 1n,5~ ~
<br />1989 250,000 ;n.,5~~ ~
<br />1990 250, 000 i~^,<;,-~ o
<br />1991 250, 000 /U -~c~ $
<br />1992 250,000 icy ~~U $
<br />1993 250, 000 ~~,~p ~
<br />1994 250, 000 ~~; ~
<br />1995 250, 000 S.~y ~
<br />1996 250,000 .~~p $
<br />1997 250,000 q.i5 $
<br />1998 250,000 9,as ~
<br />1999 250,000 9,y~ $
<br />.2000 250,000 .yp ~
<br />2001 250,000 q. So $
<br />2002 250,000 q.~~ ~
<br />2003 250,000 q,E~ ~
<br />2004 250,000 $Sp ~
<br />2005 250,000 ~•~;p $
<br />Section 4. That the principal of the Bonds shall
<br />be payable, without exchange or collection charges, in any
<br />coin or currency of the United States of America which, on
<br />the date of payment thereof, is legal tender for the payment
<br />of debts due the United States of America, upon their pre-
<br />sentation and surrender as they become due or at their
<br />earlier redemption date, if any, at the principal office of
<br />the Paying Agent/Registrar.
<br />RG041R/180B01 -2-
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