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duly made. This bond will bear interest from the most recent interest payment date to which <br />interest has been paid or provided for, or, if no interest has been paid, from the date of this bond. <br />This bond is one of an authorized series issued pursuant to an ordinance of the City Council <br />adopted on September 16, 2003 (the "Bond Ordinance"). This bond bears interest, matures, is <br />payable, is subject to redemption and is transferable as provided in the Bond Ordinance and Sale <br />Certificate. To the extent not defined herein, terms used in this Bond shall have the same <br />meanings as set forth in the Bond Ordinance. <br /> <br /> The principal of this bond is payable upon presentation and surrender hereof to <br />the principal office of the Paying Agent. Interest on this bond will be paid on or before each <br />interest payment date (or, if such interest payment date is not a business day, on or before the <br />next succeeding business day), by check, draft or wire sent to the person in whose name this <br />bond is registered in the registration records of the City maintained by the Registrar at the <br />principal office and at the address appearing thereon at the close of business on the Record Date. <br /> <br /> In the case of redemption of Bonds of a denomination larger than $5,000, a <br />portion of such Bond ($5,000 or any integral multiple thereof) may be redeemed, in which case <br />the Registrar shall, without charge to the Registered Owner of such Bond, authenticate and issue <br />a replacement Bond or Bonds for the unredeemed portion thereof. Redemption shall be made <br />upon not more than sixty days and not less than thirty days mailed notice to each registered <br />Owner of Bonds to be redeemed as shown on the registration records kept by the Registrar, in the <br />manner and upon the conditions provided in the Bond Ordinance. <br /> <br /> The Bonds of which this Bond is one are all of like date, tenor, and effect except <br />as to number, principal amount, interest rate, date of maturity, and are issued by the City Council <br />of the City of Louisville, in the County of Boulder and State of Colorado, for the purpose of <br />financing the costs of the Refunding Project, under the authority of and in full conformity with <br />the City's home rule charter, the constitution and laws of the State of Colorado, and pursuant to <br />the duly adopted Bond Ordinance. <br /> <br /> The Bonds are also issued pursuant to Title 11, Article 57, Part 2, Colorado <br />Revised Statutes (the "Supplemental Act"). Pursuant to Section 11-57-210 of the Supplemental <br />Act, this recital shall be conclusive evidence of the validity and the regularity of the issuance of <br />the Bonds after their delivery for value. <br /> <br />14 <br /> <br /> <br />