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shall bc paid by wire transfer. All interest payments shall be made to the registered owner as it appcars on th~ registration books kept by the Registrar on the [fifteenth] day of the month Ipreccdingj each inter~st payment date. This Bond has bcen duly authorized by the City Council and is issued for the purpose of (i) refunding certain outstanding general obligation notes of the City and (ii) paying the costs of issuance of th~ Bonds. The full faith and credit of the City are irrevocably pledged for the payment of the principal of and premium, if any, and interest on this Bond in accordance with its terms. This Bond is onc of a series of $ Taxable General Obligation Refunding 13unds. Series 2006B of the City ("Bonds") of like date and tenor, except as to number. dcnomination, rate of intcrest and maturity, issued under the authority of and in full compliance with the Constitution and statutes of the Commonwealth of Virginia, and, more particularly, .ssued pursuant to the Public Finance Act of 1991, Chapter 26 of Title 15.2 of the Code of Virginia of 1950. as amended, and an Ordinance adopted by the City Council on , 2006 l "Ordinance"). I Bonds maturing on or before , 20_ are not subject to redemption before maturity. Bunds at the time outstanding which are stated to mature on or atier ,20_ may bc redeemed bcfore their maturities on or atier , 20_ at the option of the City in whole or in part (in installments of $5.000) at any time or from time to time during the following redcmption periods upon payment of the following redemption prices (expressed as a percentage uf th~ principal amount to be redeemed) together with the interest accrued thereon to the date lixed lor redemption: -2-