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<br /> [Form of Bond] <br />No. R- $ <br /> [Front of Bond] <br /> UNITED STATES OF AMERICA <br /> STATE OF COLORADO <br /> COUNTY OF BOULDER <br /> CITY OF LOUISVILLE <br /> GENERAL OBLIGATION WATER REFUNDING BOND, <br /> SERIES 1986 <br /> ORIGINAL <br />INTEREST RATE MATURITY DATE ISSUE DATE CUSIP <br />REGISTERED OWNER: <br />PRINCIPAL AMOUNT: DOLLARS <br /> The City of Louisville, in the County of Boulder and <br />State of Colorado, a municipal corporation duly organized and <br />operating under the constitution and laws of the State of <br />Colorado, for value received, hereby acknowledges itself indebted <br />and promises to pay to the registered owner named above, or <br />registered assigns, on the maturity date specified above, the <br />principal amount specified above, and in like manner to pay <br />interest on such principal amount (computed on the basis of a <br />360-day year of twelve 30-day months) from the interest payment <br />date next preceding the date of registration and authentication of <br />this Bond, unless this Bond is registered and authenticated prior <br />to December 1 , 1986, in which event this Bond shall bear interest <br />from May 1 , 1986, at the interest rate per annum specified above, <br />payable semiannually on June 1 and December 1 each year, <br /> - <br />commencing on December 1 , 1986, until such principal amount is <br />paid, unless this Bond shall have been previously called for <br />redemption and payment shall have been duly provided for or made. <br />The principal of this Bond and premium, if any, are payable in <br />lawful money of the United States of America to the registered <br />owner upon presentation at Central Bank of Denver, a banking <br /> - 15 - <br />