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UNITED STATES OF AMERICA <br />STATE OF ARKANSAS <br />COUNTY OF INDEPENDENCE <br />CITY OF BATESVILLE <br />GENERAL OBLIGATION REFUNDING BOND <br />No. <br />$1,000 <br />($1,250) <br />KNOW ALL MEN BY THESE PRESENTS: <br />That the City of Batesville, Independence County, Arkansas <br />(the "City"), acknowledges itself to owe and for value received pro - <br />mases to pay to bearer, or if this bond be registered to the registered <br />owner hereof", the sum of <br />ONE THOUSAND DOLLARS <br />(ONE THOUSAND TWO HUNDRED FIFTY DOLLARS) <br />in lawful money of the United States of America on the first day of <br />September, 19_, and to pay interest hereon at the rate of <br />percent ( o) per annum from date until paid. Interest is <br />payable semiannually on March 1 and September 1 of each year, com- <br />mencing March 1, 1978. Payment of principal, and payment of interest <br />when evidenced by coupons, shall'be made upon presentation of the <br />bonds and coupons at the principal office of First National Bank, <br />Batesville, Arkansas (the "Trustee" and "Paying Agent"). Payment of <br />interest, when registered as to interest may be by check or draft <br />mailed to the registered owner at his address reflected on the registration <br />book of the City maintained by the Trustee as Bond Registrar. <br />This is one of an issue of 168 bonds, aggregating $168,250, <br />dated September 1, 1977, and numbered from 1 to 168, inclusive, all of <br />like tenor and effect except as to number, denomination, rate of <br />interest, maturity and right of prior redemption. The bonds are <br />issued for the purpose of refunding the outstanding General obliga- <br />tion Airport Improvement Bonds, dated July 1, 1969 (the "1969 Bonds"), <br />paying necessary expenses incidental thereto and paying the expenses <br />of issuing the bonds. <br />