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Legislation"), and pursuant to Ordinance No. of the City, duly adopted and approved on the <br /> 10th day of September, 2024 (the "Authorizing Ordinance") and an election duly held on August <br /> 8, 2023 at which the majority of the legal voters of the City voting on the question approved the <br /> issuance of this bond. Reference is hereby made to the Authorizing Ordinance for the details of <br /> the nature and extent of the security and of the rights and obligations of the City and the registered <br /> owner of this bond. <br /> This bond may be assigned with the written approval of the Arkansas Natural <br /> Resources Commission (the "Commission"), and in order to effect such assignment the assignor <br /> shall promptly notify the City Clerk by registered mail, and the assignee shall surrender this bond <br /> along with a written approval of the Commission to the City Clerk for transfer on the registration <br /> records. Every assignee shall take this bond subject to all payments and prepayments of principal <br /> and interest (as reflected by the Payment Record maintained by the City Clerk), prior to such <br /> surrender for transfer. <br /> This bond does not constitute an indebtedness of the City within any constitutional <br /> or statutory limitation or provision. This bond is a special obligation payable solely from a pledge <br /> of collections of the 1% sales and use tax levied by the City pursuant to Ordinance No. 2023-05- <br /> 04 of the City duly adopted on May 23, 2023 under the authority of the Authorizing Legislation <br /> (the "Tax"), and the City hereby pledges the collections of the Tax for the payment of this bond. <br /> This bond may be prepaid, at the option of the City, in whole or in part at any time <br /> from Tax collections in excess of the amount necessary to ensure the prompt payment of the <br /> principal of and interest on this bond as the same becomes due at the prepayment price equal to <br /> the principal amount being prepaid plus accrued interest and servicing fee to the prepayment date. <br /> This bond may also be prepaid at the option of the City from funds from any other source,in whole <br /> but not in part, at any time on and after October 15, 2034, at a prepayment price equal to the <br /> principal amount outstanding,plus accrued interest and servicing fee to the prepayment date,upon <br /> 90 days' notice. Notice shall be given of each prepayment in writing mailed to the address of the <br /> owner of this bond or registered assigns at the address as reflected on the bond registration books <br /> of the City Clerk. <br /> IT IS HEREBY CERTIFIED, RECITED AND DECLARED that all acts, <br /> conditions and things required by the Constitution and statutes of the State to exist,happen and be <br /> performed precedent to and in the issuance of this bond do exist, have happened and have been <br /> performed in regular and due time, form and manner as required by law; that this bond does not <br /> exceed any constitutional or statutory limitation of indebtedness;and that provision has been made <br /> for the payment of the principal of and interest on this bond, as provided in the Authorizing <br /> Ordinance. <br /> 4 <br />