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before the close of business on the next interest payment date, in which event it shall bear
<br />interest from such interest payment date, or unless this Bond is authenticated on or before the
<br />Record Date preceding the first interest payment date, in which event it shall bear interest from
<br />the original issue date specified above, until payment of such principal sum shall have been
<br />discharged, at the rate of interest per anmun specified above, payable semiannually on March 2
<br />and September 2 in each year commencing on March 2, 2017. Both the principal hereof and
<br />redemption premium hereon are payable at the principal corporate trust office of U.S, Bank
<br />National Association, the Fiscal Agent (the "Fiscal Agent ") in St. Paul, Minnesota, or such other
<br />office as shall be designated by the Fiscal Agent as its principal corporate trust office for such
<br />purpose, and the interest hereon is payable by check mailed to the owner hereof at the owner's
<br />address as it appears on the records of the Fiscal Agent, or at such address as may have been
<br />filed with the Fiscal Agent for that purpose, as of the fifteenth (15th) day of the month preceding
<br />each interest payment date (the "Record Date "). Principal of, redemption premium, if any, and
<br />interest payable to any Owner of Bonds in aggregate principal amount of $1,000,000 or more
<br />will be paid, upon the written request of any such Owner in form and substance satisfactory to
<br />the Fiscal Agent, by wire transfer of immediately available funds to an account within the United
<br />States designated by such Owner on or before a Record Date. Interest on the Bonds will be
<br />calculated on the basis of a 360 -day year composed of twelve 30 -day months.
<br />This Bond will continue to bear interest after maturity at the rate specified above,
<br />provided it is presented at maturity and payment thereof is refused upon the sole ground that
<br />there are not sufficient moneys in said redemption fund, with which to pay the same. If it is not
<br />presented at maturity, and there are sufficient moneys in said redemption fund with which to pay
<br />the same, interest on this Bond will run until maturity.
<br />Pursuant to Section 8769 of the Streets and Highways Code of the State of California, the
<br />City Council of the City has determined that the City will not obligate itself to advance funds
<br />from the City treasury to cure any deficiency in the redemption fund,
<br />This Bond is one of several annual series of bonds of like date, tenor and effect, but
<br />differing in amounts, maturities and interest rates, issued by the City pursuant to the Act and a
<br />Fiscal Agent Agreement dated as of July 1, 2016 by and between the City and the Fiscal Agent
<br />(the "Fiscal Agent Agreement ") in the aggregate principal amount of $ (the
<br />"Bonds ") for the purpose of providing means for paying for the construction of the
<br />improvements which are to be constructed within and for the Assessment District, as described
<br />in said proceedings, and is secured by the moneys in said redemption Rind and by the unpaid
<br />portion of the assessments levied on parcels of property within the Assessment District for the
<br />payment of said improvements, and, including principal and interest, is payable exclusively out
<br />of said fund. Reference is hereby made to the Act and the Fiscal Agent Agreement, and all
<br />amendments thereto, for a description of the rights, ditties and obligations of the City and the
<br />owners of the Bonds, the terms upon which the Bonds are issued and the terms and conditions on
<br />which the Bonds will be deemed to be paid, at or prior to maturity or redemption of the Bonds, to
<br />all the provisions of which agreement the owner of this Bond, by acceptance hereof, assents and
<br />agrees.
<br />The Bonds are issuable only as fully registered Bonds in denominations of $5,000, or any
<br />integral multiple thereof.
<br />A -2
<br />55B -60
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