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PROVISIONS FOR REDEMPTION Unless this bond matures on or prior to July I, 1982, it is redeemable in the manner and subject to the terms and provisions, and with the effect, set forth in the resolution referred to on the face of this bond, at the option of the district, on .~uly 1, 1972, or on any interest payment date thereafter prior to maturity, upon at least 30 days' prior notice published in a newspaper circulated in the County of Orange, California, and in a financial newspaper or iournal of national circulation published in the City of New York, New York, at a redemption price equal to the principal amount thereof plus the following premiums (percentage of par value) if redeemed at the following times: REDEMPTION DATES AND PREMIUMS On or A/ter And Prior to On or After And Prior to July I July 1 Premium July 1 July 1 Premium 1972 1974 4% 1983 1984 1~% 1974 1976 3~ 1984 1985 1~ 1976 1977 3~ 1985 1986 ix 1977 1978 3~ 1986 1987 1 1978 1979 3 1987 1988 ~ 1979 1980 ' 2~ 1988 1989 ~ 1980 1981 2% 1989 1990 ~ 1981 1982 2~ 1990 Maturity 0 1982 1983 2 PROVISIONS FOR REGISTRATION This bond may be registered in the name of any person as the registered owner hereof, either as to principal only or as to both principal and interest, and, if registered in either of said forms may be changed to registration in the other of said forms or discharged from registration. Each registration, transfer after registration, change of form of registration, or discharge from registration of this bond shall be entered by the Director of Finance in books kept by him for the purpose and noted by him in the registration blank below. Registration as to principal only shall not affect the negotiability by delivery of the coupons pertaining hereto. Upon registra- tion as to both principal and interest, all unmatured coupons pertaining hereto shall be surrendered to the Director of Finance and may be preserved. So long as this bond is registered no transfer hereof shall be valid for any purpose unless made by the registered owner and entered and noted as herein provided, and the principal hereof and any redemption premium shall be payable only to the registered owner, or to his order. Interest on this bond, if registered as to both principal and interest, shall be payable to the person whose name appears upon the registry books as the registered owner hereof at the close of busi- ness on the tenth day precellfding the interest payment date, or to his order. If this bond is registered as to both principal and interest and its registration is changed to registration as to principal only, or if it is discharged from registration, there shall be attached hereto coupons representing interest hereon to become due thereafter to the date of maturity hereof. In lieu thereof, and upon surrender and cancellation hereof, the Director of Finance in his discretion may issue in exchange therefor a new bond, with such coupons attached, identical with this bond, except for the previous notations on the registration blank hereon, and except that the signatures on the new bond shall be those of the persons holding the offices at the time of affixing such signatures. The issuance of any such new bond or new coupons shall be at the expense of the registered owner. 19