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on the registration books maintained by the Registrar without presentation of this Bond; provided that as long as Cede & Co. is the registered owner of this Bond, interest shall be paid by wire transfer. All interest payments shall be made to the registered owner as it appears on the registration books kept by the Registrar on the [fifteenth] day of the month [preceding] each interest payment date. This Bond is one of a series of $ General Obligation Refunding Bonds, Series 2017_, of the City ('Bonds ") of like date and tenor, except as to number, denomination, rate of interest and maturity, issued under the authority of and in full compliance with the Constitution and statutes of the Commonwealth of Virginia, and, more particularly, issued 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 _, 2017 (the "Ordinance "). The Bonds, including this Bond, have been duly authorized by the City Council and issued for the purposes of refunding, redeeming, and /or defeasing [prior City obligations] and paying the costs of issuing the 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. The City Council shall levy an annual ad valorem tax upon all property in the City subject to local taxation sufficient to pay the principal of and premium, if any, and interest on this Bond as the same shall become due for payment unless other funds are lawfully available and appropriated for the timely payment hereof. Bonds maturing on or before , 20_ are not subject to redemption before maturity. Bonds at the time outstanding which are stated to mature on or after , 20_ may be redeemed before their maturities on or after , 20_ at the option of the City in whole -2-