1999-09-08 Special Called Regular Meeting, Public Hearing, and Workshop Meeting

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e e Registered Owner: Principal Amount: LA PORTE AREA WATER AUTHORITY (the "Authority"), for value received, acknowledges itself indebted to and hereby promises to pay to the order of the Registered Owner, specified above, or the registered assigns thereof (the "Registered Owner"), the Principal Amount, specified above, with principal installments payable on March IS in each of the years, and bearing interest at per annum rates in accordance with the following schedule: YEARS OF STATED MA TIJRlTIES PRINCIPAL INSTALLMENTS INTEREST RATES (Information to be inserted from schedule in Section 2 hereof.) INTEREST on the unpaid Principal Amount hereof from the Dated Date, specified above, or from the most recent interest payment date to which interest has been paid or duly provided for until the Principal Amount has become due and payment thereof has been made or duly provided for shall be paid computed on the basis of a 360- day year of twelve 30-day months; such interest being payable on March IS and September IS of each year, commencing March 15,2000. THE PRINCIPAL OF AND INTEREST ON this Bond are payable in lawful money of the United States of America, without exchange or collection charges. The fmal payment of principal of this Bond shall be paid to the Registered Owner hereof upon presentation and surrender of this Bond at fmal maturity, at the designated payment office of CHASE BANK OF TEXAS, NATIONAL ASSOCIATION which is the "Paying AgentlRegistrar" for this Bond. The payment of principal installments and interest on this Bond shall be made by the Paying AgentlRegistrar to the Registered Owner hereof as shown by the "Registration Books" kept by the Paying AgentlRegistrar at the close of business on the Record Date (defined below) by check drawn by the Paying AgentlRegistrar on, and payable solely from, funds of the Authority required to be on deposit with the Paying AgentlRegistrar for such purpose as hereinafter provided; and such check shall be sent by the Paying AgentlRegistrar by United States mail, postage prepaid, on each such payment date, to the registered owner hereof at its address as it appears on the Registration Books kept by the Paying AgentlRegistrar, as hereinafter described. The record date ("Record Date") for payments hereon means the fifteenth calendar day of the month preceding a scheduled payment. In the event of a non-payment of interest on a scheduled payment date, and for 30 calendar days thereafter, a new record date for such payment (a "Special Record Date") will be established by the Paying Agent/Registrar, if and when funds for the payment thereof have been received from the Authority. Notice of the Special Record Date and of the scheduled payment date of the past due payment (the "Special Payment Date," which shall be 15 calendar days after the Special Record Date) shall be sent at least five business days prior to the Special Record Date by United States mail, first class, postage prepaid, to the address of the Registered Owner appearing on the books of the Paying AgentlRegistrar at the close of business on the last business day next preceding the date of mailing of such notice. The Authority covenants with the Registered Owner that no later than each principal installment payment date and interest payment date for this Bond it will make available to the Paying AgentlRegistrar the amounts required to provide for the payment, in immediately available funds, of all principal of and interest on this Bonds, when due, in the manner set forth in the Resolution defmed below. FORl'vt OF PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE (To be Printed on the Definitive Bonds) PA YING AGENTIREGISTRAR'S AUTHENTICATION CERTIFICATE It is hereby certified that this Bond has been issued under the provisions of the Resolution described in this Bond; and that this Bond has been issued in exchange for or replacement of a bond, bonds, or a portion of a bond or bonds of an issue which originally was approved by the Attorney General of the State of Texas and registered by the Comptroller of Public Accounts of the State of Texas. Dated CHASE BANK OF TEXAS, NATIONAL ASSOCIATION, 12