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(Form of Bond) <br /> �+ REGISTERED REGISTERED <br /> No. $ <br /> UNITED STATES OF AMERICA <br /> STATE OF ARKANSAS <br /> CITY OF BATESVILLE, ARKANSAS <br /> WATER AND SEWER REVENUE BOND <br /> SERIES 2005 <br /> Dated Date : 1, 2005 <br /> Registered Owner: <br /> Principal Amount : <br /> KNOW ALL MEN BY THESE PRESENTS : <br /> That the City of Batesville, Arkansas (the "City" ) , for <br /> value received, hereby promises to pay, but solely from the source <br /> as hereinafter provided and not otherwise, to the Registered Owner <br /> shown above, the Principal Amount shown above, in such coin or <br /> currency of the United States of America as at the time of payment <br /> shall be legal tender for the payment of public and private debts, <br /> and to pay by check or draft interest thereon, but solely from the <br /> source as hereinafter provided and not otherwise, in like coin or <br /> currency. Principal and interest evidenced hereby are payable in <br /> monthly installments until payment of such principal sum or, if <br /> this Series 2005 Bond or a portion thereof shall be duly called for <br /> redemption, until the date fixed for redemption, and to pay <br /> interest on overdue principal and interest (to the extent legally <br /> enforceable) at the rate borne by this Series 2005 Bond. This <br /> Series 2005 Bond bears interest at the rate of 5 . 05% per annum. <br /> Principal of this Series 2005 Bond shall mature over a period of <br /> twenty years . The first payment of principal and interest is due <br /> April 1, 2005, and shall be in the amount of $1, 185 . 25 plus accrued <br /> interest from the date of issuance of the Series 2005 Bonds . <br /> Commencing May 1, 2005 monthly payments of principal and interest <br /> shall be in the amount of $3 , 247 . 33 , except that the last payment, <br /> on March 1 , 2025, shall be in the amount of $3 , 248 . 46 . <br /> Payment of each installment shall be made to the person <br /> in whose name this Series 2005 Bond is registered on the <br /> registration books of the City maintained by the Trustee at the <br /> close of business on the 20th day of the month (whether or not a <br /> business day) next preceding each payment date (the "Record Date" ) , <br /> irrespective of any transfer or exchange of this Series 2005 Bond <br /> subsequent to such Record Date and prior to such payment date . <br /> Payment of the final installment due hereon shall be only upon <br /> surrender of this Series 2005 Bond at the corporate trust office of <br /> The Citizens Bank, in Batesville, Arkansas, or its successor or <br /> successors, as Trustee and Paying Agent (the "Trustee") . Interest <br /> hereon shall be payable from the payment date next preceding the <br /> 3 <br />