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<br />States of America or of any State. authorized under such laws to exercise trust power, and subject to supervision or
<br />examination by federal or state authority.
<br />
<br />2.10. Mutilated. Lost. Destroved. or Wronefully Taken Bonds. If any mutilated Bond is surrendered to the
<br />Paying AgentlRegistrar or the Authority and the Paying AgentlRegistrar receive evidence to their satisfaction of the
<br />,destruction, loss, or theft of any Bond, and there is delivered to the Authority and the Paying AgentlRegistrar such
<br />'security or indemnity as may be required by them to save each of them harmless, and the Authority and the Paying
<br />AgentlRegistrar have no notice that such Bond has been acquired by a bona fide purchaser, then and in either such
<br />event the Authority shall execute and upon its request the Paying AgentlRegistrar shall register and deliver, in
<br />. exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a new Bond of the same maturity and
<br />of like tenor, interest rate and principal amount, bearing a number not contemporaneously outstanding. Upon the
<br />issuance of any new Bond under this Section 2.09, the Authority may require the payment by the registered owner
<br />thereof of a sum sufficient to cover any tax or other governmental charge that may be imposed in I:elation thereto
<br />and any other expenses (including the fees and expenses of the Paying AgentlRegistrar) connected therewith. Every
<br />new Bond issued pursuant to this Section 2.09 in lieu of any mutilated, destroyed, lost., or stolen Bond shall
<br />constitute a replacement of the prior obligation of the Authority, whether or not the mutilated, destroyed, lost, or
<br />stolen Bond shall be at the time enforceable by anyone, and shall be entitled to all the benefits of this Resolution
<br />equally and ratably with all other outstanding Bonds. '
<br />
<br />2.11. Nonpresentment of Bonds. In the event any Bond shall not be presented for payment when the
<br />principal thereof or interest thereon, if applicable, becomes due, either at maturity or otherwise, or if any check or
<br />draft representing payment of principal of or interest on the Bonds shall not be presented for payment, if funds
<br />sufficient to pay the principal of or interest on such Bond shall have been made available by the Board to the Paying
<br />AgentlRegistrar for the benefit of the Registered Owner thereof, all liability of the Authority to the Registered
<br />Owner thereof for the payment of the principal of or interest on such Bond shall cease, terminate, and be completely
<br />discharged, and thereupon it shall be the duty of the Paying Agent to hold such funds in trust, uninvested and
<br />without liability for interest thereon, for the benefit of the Registered Owner of such Bond who shall thereafter be
<br />restricted exclusively to such funds for any claim of whatever nature on his part under this Resolution with respect
<br />to the principal of or interest on such Bond. To the extent applicable, the Paying AgentlRegistrar shall hold and
<br />apply any such funds in accordance with Title 6, Texas Property Code, as amended, and shall comply with the
<br />reporting requirements of Chapter 74, Texas Property Code, as amended.
<br />
<br />Section 3. FOR.\1 OF BONDS Al'm CERTIFICATES THEREON. The form of the Bonds, including the
<br />form of Registration Certificate of the Comptroller of Public Accounts of the State of Texas to be typed or printed
<br />on each of the Initial Bond only, the form of Statement of Insurance, if applicable, and the form of Certificate of
<br />Authentication of the Paying AgentlRegistrar to be typed or printed on all of the Definitive Bonds shall be,
<br />respectively, substantially as set forth in this Section with such appropriate insertions, omissions, substitutions, and
<br />other variations as are permitted or required by this Resolution and may have such letters, numbers, or other marks
<br />of identification (including identifying numbers and letters of the Committee on Uniform Securities Identification
<br />Procedures of the American Bankers Association) and such legends and endorsements (including the reproduction
<br />of an opinion of counsel), thereon as may, consistently herewith, be established by the Authority or determined by
<br />the officers executing such Bonds as evidenced by their execution thereof.
<br />
<br />United States of America
<br />State of Texas
<br />LA PORTE AREA WATER AUTHORITY
<br />CONTRACT REVENUE REFUNDING BOND, SERIES 1999
<br />
<br />[FOR.t\t1 OF FACE OF THE DEFINITIVE BOND]
<br />
<br />NUMBER
<br />R-
<br />REGISTERED
<br />
<br />DENOMINATION
<br />$
<br />REGISTERED
<br />
<br />INTEREST RATE
<br />%
<br />
<br />MATURITY DATE
<br />
<br />DATED DATE
<br />September 15, 1999
<br />
<br />CUSIP NO.
<br />
<br />8
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