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of the "Accreted Value" per $5,000 Maturity Amount is printed on the reverse side of this Bond. <br /> The term"Accreted Value"as set forth in the table on the reverse side hereof shall mean the original <br /> principal amount plus initial premium per$5,000 Maturity Amount compounded semiannually on <br /> * and * at the yield shown on such table. <br /> THE MATURITY AMOUNT of this Bond is payable in lawful money of the United States <br /> of America, without exchange or collection charges. The Maturity Amount of this Bond shall be <br /> paid to the Registered Owner hereof upon presentation and surrender of this Bond at maturity,at the <br /> designated office for payment of Regions Bank, Houston, Texas, which is the "Paying <br /> Agent/Registrar" for this Bond, and shall be drawn by the Paying Agent/Registrar on, and solely <br /> from, funds of the City required by the order authorizing the issuance of the Bonds (the "Bond <br /> Ordinance") to be on deposit with the Paying Agent/Registrar for such purpose as hereinafter <br /> provided, payable to the Registered Owner hereof, as it appears on the Registration Books kept by <br /> the Paying Agent/Registrar,as hereinafter described. The City covenants with the Registered Owner <br /> of this Bond that on or before the Maturity Date for this Bond it will make available to the Paying <br /> Agent/Registrar,from the"Interest and Sinking Fund" created by the Bond Ordinance,the amounts <br /> required to provide for the payment,in immediately available funds of the Maturity Amount,when <br /> due. Notwithstanding the foregoing, during any period in which ownership of the Bonds is <br /> determined only by a book entry at a securities depository for the Bonds, any payment to the <br /> securities depository,or its nominee or registered assigns,shall be made in accordance with existing <br /> arrangements between the City and the securities depository. <br /> [FORM OF REMAINDER OF EACH BOND] <br /> ANY ACCRUED INTEREST due at maturity as provided herein shall be paid to the <br /> Registered Owner upon presentation and surrender of this Bond for payment at the Designated <br /> Payment/Transfer Office of the Paying Agent/Registrar. The City covenants with the Registered <br /> Owner of this Bond that on or before each payment date for this Bond it will make available to the <br /> Paying Agent/Registrar, from the "Interest and Sinking Fund" created by the Bond Ordinance, the <br /> amounts required to provide for the payment,in immediately available funds,of all principal of and <br /> interest on the Bonds, when due. <br /> IF THE DATE for the payment of the principal of or interest on this Bond shall be a <br /> Saturday, Sunday, a legal holiday, or a day on which banking institutions in the City where the <br /> principal corporate trust office of the Paying Agent/Registrar is located are authorized by law or <br /> executive order to close,then the date for such payment shall be the next succeeding day which is not <br /> such a Saturday,Sunday,legal holiday,or day on which banking institutions are authorized to close; <br /> and payment on such date shall have the same force and effect as if made on the original date <br /> payment was due. <br /> THIS BOND is one of a series of Bonds dated , 20 *, authorized in <br /> accordance with the Constitution and laws of the State of Texas in the principal amount of <br /> 'To be completed as determined by the Pricing Officer in the Pricing Certificate. To the extent that the Pricing Certificate relating to the Bonds is <br /> inconsistent any provisions in the Corm of Bond or contains information to complete missing information in this Form of Bond the language in the <br /> Pricing Certificate shall be used in the executed Rends. <br /> 12 <br /> SanMarcos GOBE018 ofinx,ceGO <br />