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REGISTERED <br />Number <br /> <br />United States of America <br />State of California <br />County of Alameda <br /> <br />REGISTERED <br /> <br /> LIMITED OBLIGATION IMPROVEMENT BOND <br /> CITY OF PLEASANTON <br /> ASSESSMENT DISTRICT NO. 1986-9, <br />NORTH PLEASANTON IMPROVEMENT DISTRICT NO. 3 <br /> SERIES C <br /> SERIES NO. 1986-9C <br /> <br />INTEREST RATE <br /> <br />MATURITY DATE <br /> <br />BOND DATE <br /> <br />CUSIP NUMBER <br /> <br />REGISTERED OWNER: <br /> <br />PRINCIPAL SUM: <br /> <br />DOLLARS <br /> <br /> Under and by virtue of the Improvement Bond Act of 1915, <br />Division 10 (commencing with Section 8500), of the Streets and <br />Highways Code, (the "Act"), the City of Pleasanton, County of <br />Alameda, State of California, (the "City"), will, out of the <br />redemption fund for the payment of the bonds issued upon the unpaid <br />portion of assessments made for the acquisition, work and <br />improvements more fully described in proceedings taken pursuant to <br />Resolution of Intention No. 87-111, adopted by the City Council of <br />the City of Pleasanton on the 17th day of March, 1987, as later <br />amended, pay to the registered owner stated above or registered <br />assigns, on the maturity date stated above, the principal sum stated <br />above, in lawful money of the United States of America and in like <br />manner will pay interest from the interest payment date next <br />preceding the date on which this Bond is authenticated, unless this <br />Bond is authenticated and registered as of an interest payment date, <br />in which event it shall bear interest from such interest payment <br />date, or unless this Bond is authenticated and registered prior to <br />March 2, 1991, in which event it shall bear interest from its date, <br />until payment of such principal sum shall have been discharged, at ~ <br />the rate per annum stated above, payable semiannually on March 2 and <br />September 2 in each year commencing on March 2, 1991. Both the <br />principal hereof and redemption premium hereon are payable at the <br />principal corporate trust office of the Bank of America National <br />Trust and Savings Association or its successor, as Transfer Agent, <br />Registrar and Paying Agent, in San Francisco, California, and the <br />interest hereon is payable by check or draft mailed to the owner <br />hereof at the owner's address as it appears on the registration <br />books of the Bank, or at such address as may have been filed with <br /> <br />EXHIBIT B <br /> <br /> <br />