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The principal of and premium, if any, and interest on this Bond axe payable in such coin or currency of the United States of America as at the respective dates of payment is legal tender for public and private debts. This Bond is one of an issue of Bonds aggregating Twenty-One Million Two Hundred Eighty-Five Thousand Dollars ($21,285,000) in principal mount and issued for the purpose of providing funds to refund in advance of their stated maturities and redeem certain outstanding general obligation public utility bonds heretofore issued by the City to pay the cost of capital improvements, extensions and additions to the revenue-producing water and sewerage system of the City, under and pursuant to and in full compliance with the Constitution of the Commonwealth of Virginia, inclualng Article VII, Section 10(a)(2), of the Constitution of the Commonwealth of Vkginia, and the statutes of the Commonwealth of Virginia, including Chapter 5.1 of Title 15.1 of the Code of Virginia, 1950 (the same being the Public Finance Act of 1991), and the Charter of the City, proceedings of the Council of the City duly adopted and taken under such Chapter 5.1 and such Charter. The Bonds of the issue of which this Bond is one maturing on and after August 1, 2004 (or portions thereof in installments of $5,000) axe subject to redemption at the option of the City prior to their stated maturities on or after August 1, 2003, in whole at any time, or in part from time to time on any interest payment date in any order determined by the City (except that if at any time less than all of the Bonds of a given maturity are called for redemption, the particular Bonds of such maturity or portions thereof in installments of $5,000 to be redeemed shall be selected by lot), upon payment of the following redemption prices (expressed as a percentage of the principal amount of Bonds to be redeemed), together with the interest accrued thereon to the date fixed for the redemption thereof: Redemption Dates (Both Dates Inclusive) Redemption Prices (Percentage of Principal Amount) August 1, 2003 to luly 31, 2004 August 1, 2004 to July 31, 2005 August 1, 2005 and thereafter 102% 101 100 The Bonds of the issue of which this Bond is one maturing on August 1, 2013 shall be subject to mandatory sinking fund redemption on August 1, 2010 and on August 1 of each year thereafter to maturity in the principal amounts in each year set forth below, with the particular Bond or Bonds or portions thereof to be selected by lot, upon payment of a redemption.price equal to 100% of the principal amount of the Bonds to be redeemed, together with the interest accrued on the principal amount to be redeemed to the date fixed for the redemption thereof: