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payable out of the General Obligation Temporary Improvement <br />Bonds, Series 1998B Fund of the Issuer, and into which fund there <br />are to be paid proceeds of the definitive bonds or additional <br />temporary bonds which the Issuer is required by law to issue at <br />or prior to the maturity of this Bond for the purpose of <br />refunding the same if the special assessments theretofore <br />received or collected, or any other municipal funds which are <br />properly available and are appropriated by the City Council for <br />such purposes, are not sufficient for the full payment thereof. <br />This Bond constitutes a general obligation of the Issuer, and to <br />provide moneys for the prompt and full payment of its principal, <br />premium, if any, and interest when the same become due, the full <br />faith and credit and taxing powers of the Issuer have been and <br />are hereby irrevocably pledged. <br />Denominations; Exchange; Resolution. The Bonds are <br />issuable solely as fully registered bonds in Authorized <br />Denominations (as defined in the Resolution) and are exchangeable <br />for fully registered Bonds of other Authorized Denominations in <br />equal aggregate principal amounts at the principal office of the <br />Bond Registrar, but only in the manner and subject to the <br />limitations provided in the Resolution. Reference is hereby made <br />to the Resolution for a description of the rights and duties of <br />the Bond Registrar. <br />Transfer. This Bond is transferable by the Holder in <br />person or by his, her or its attorney duly authorized in writing <br />at the principal office of the Bond Registrar upon presentation <br />and surrender hereof to the Bond Registrar, all subject to the <br />terms and conditions provided in the Resolution and to reasonable <br />regulations of the Issuer contained in any agreement with the <br />Bond Registrar. Thereupon the Issuer shall execute and the Bond <br />Registrar shall authenticate and deliver, in exchange for this <br />Bond, one or more new fully registered Bonds in the name of the <br />transferee (but not registered in blank or to "bearer" or similar <br />designation), of an Authorized Denomination or Denominations, in <br />aggregate principal amount equal to the principal amount of this <br />Bond, of the same maturity and bearing interest at the same rate. <br />Fees upon Transfer or Loss. The Bond Registrar may <br />require payment of a sum sufficient to cover any tax or other <br />governmental charge payable in connection with the transfer or <br />exchange of this Bond and any legal or unusual costs regarding <br />transfers and lost Bonds. <br />Treatment of Registered Owners. The Issuer and Bond <br />Registrar may treat the person in whose name this Bond is <br />registered as the owner hereof for the purpose of receiving <br />payment as herein provided (except as otherwise provided on the <br />reverse side hereof with respect to the Record Date) and for all <br />other purposes, whether or not this Bond shall be overdue, and <br />931992.1 12 <br />