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Both principal of and interest on this bond shall be payable in lawful money of the <br />United States of America. Principal and interest on this bond shall be payable by check <br />or warrant or by other means mutually acceptable to the Registered Owner and the City. <br />Upon final payment of principal and interest of this bond, the Registered Owner shall <br />surrender this bond for cancellation at the office of the Bond Registrar in accordance <br />with Ordinance No. of the City (the "Bond Ordinance"). <br />This bond is issued pursuant to the Bond Ordinance to redeem the City's Limited <br />Tax General Obligation Bond Anticipation Note, 2014 (Taxable Non -Revolving Line of <br />Credit) and to pay costs of issuance for this bond. Capitalized terms used in this bond <br />have the meanings given such terms in the Bond Ordinance. <br />The City may prepay this bond on any date upon providing at least 15 calendar <br />days prior written notice to the Registered Owner, as further provided in the Bond <br />Ordinance. <br />The City has in the Bond Ordinance authorized the creation of a fund to be used for <br />the payment of debt service on this bond, designated as the Debt Service Fund. The <br />Debt Service Fund shall be drawn upon for the sole purpose of paying the principal of <br />and interest on this bond. <br />The City hereby irrevocably covenants and agrees with the owner of this bond that <br />it will include in its annual budget and levy taxes annually, within and as a part of the tax <br />levy permitted to the City without a vote of the electorate, upon all the property subject <br />to taxation in amounts sufficient, together with other money legally available therefor, to <br />pay the principal of and interest on this bond as the same shall become due. The full <br />faith, credit and resources of the City are hereby irrevocably pledged for the annual levy <br />and collection of such taxes and the prompt payment of such principal and interest. <br />Owners of this bond do not have a security interest in particular revenues or assets <br />of the City. This bond is not a debt or indebtedness of the State of Washington, or any <br />political subdivision thereof other than the City. <br />This bond shall not be valid or become obligatory for any purpose or be entitled to <br />any security or benefit under the Bond Ordinance until the Certificate of Authentication <br />hereon shall have been manually signed by or on behalf of the Bond Registrar or its <br />duly designated agent. <br />This bond is issued pursuant to the Constitution and laws of the State of <br />Washington, and duly adopted ordinances of the City. This bond is transferable upon <br />compliance with the conditions set forth in the Bond Ordinance. <br />It is hereby certified that all acts, conditions and things required by the Constitution <br />and statutes of the State of Washington to exist, to have happened, been done and <br />performed precedent to and in the issuance of this bond exist, have happened, been <br />done and performed and that the issuance of this bond does not violate any <br />constitutional, statutory or other limitation upon the amount of bonded indebtedness that <br />the City may incur. <br />B-2 <br />18 <br />