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<br />The security evidenced hereby was issued and delivered <br />without registration under the Securities Act of 1933, as amended, <br />or any other applicable securities laws, in reliance upon the <br />availabili ty of an appropriate exemption from any registration <br />otherwise required and the representation of the purchaser that it <br />is a sophisticated investor and that the security was being <br />acquired solely for investment and not with a view to distribution <br />or resale. Said security shall not be sold, pledged, hypothecated, <br />donated, or otherwise transferred, whether or not for <br />consideration, by the purchaser except upon the issuance to the <br />Trustee and the City of a favorable opinion of counsel, and/or <br />submission to the Trustee and the City of such other evidence as <br />may be satisfactory to them, in either case, to the effect that any <br />such transfer shall not be in violation of the Securities Act of <br />1933, as amended, or any other applicable securities laws. <br /> <br />PROVISIONS AS TO REGISTRATION <br /> <br />This Bond is registered at the principal corporate trust <br />office of Bank One, Boulder, N.A. (the successor to the First <br />National Bank in Boulder), as Registrar, in the name of the owner <br />listed below, and the principal balance remaining on the Bond and <br />interest thereon shall be payable only to such owner. No transfer <br />of this Bond shall be valid unless made on the Bond Register at the <br />request of the Registered Holder or attorney duly authorized, and <br />unless such transfer is similarly noted in the registration blanks <br />below. <br /> <br />Date of <br />Registration <br /> <br />Name and Address <br />of Registered Owner <br /> <br />Signature of <br />Registrar <br /> <br />Bank One, Boulder, N.A. <br />P.O. Box 59 <br />Boulder, Colorado 80306 <br /> <br />- 10 - <br />