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t 0 be in the amounts of principal and interest and the unpaid principal balance on the Series 2002 Bonds shall bear interest as set forth on Exhibit A hereto. The Series 2002 Bonds shall be registered as to principal and interest . Principal is payable at The Citizens Bank, in Batesville, Arkansas (the "Trustee" and "Paying Agent" ) . Payment of interest shall be by check or draft mailed to the registered owner at the address shown on the registration book of the City maintained by the Trustee . Section 3 . The Series 2002 Bonds shall be executed on behalf of the City by the Mayor and City Clerk and shall have impressed thereon the seal of the City. The Series 2002 Bonds are secured on a parity of lien, pledge and security with the City' s Water and Sewer Revenue Refunding Bonds, Series 2001 (the 112001 Bonds" ) and with any Additional Bonds issued under Ordinance No. 2001-3-1, adopted March 13 , 2001 (the "Basic Ordinance" ) , and the term "Bonds" refers to and includes the Series 2002 Bonds, the 2001 Bonds and any Additional Bonds outstanding. The Bonds, together with interest thereon, shall be payable solely out of the Water and Sewer Revenue Bond Fund, hereinafter described, and shall be a valid claim of the holders thereof only against such fund and the amount of revenues pledged thereto or deposited therein, which revenues are hereby pledged and mortgaged for the equal and ratable payment of the Bonds and shall be used for no other purpose than to pay the principal, premium, if any, interest and Trustee ' s and Paying Agent ' s fees on and in connection with the Bonds . The Bonds shall not constitute an indebtedness of the City within any constitutional or statutory limitation. Section 4 . The Series 2002 Bonds shall be in substantially the following form and the Mayor and City Clerk are hereby expressly authorized and directed to make all recitals contained therein: • 2