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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. 1986-7, <br />NORTH PLEASANTON IMPROVEMENT DISTRICT NO. 2 <br /> SERIES B <br /> SERIES NO. 1956-7B <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. 86-250, adopted by the City Council of <br />the City of Pleasanton on the 3rd of June, 1986, as later amended, <br />pay to the registered owner stated above or registered assigns, on <br />the maturity date stated above, the principal sum stated above, in <br />lawful money of the United States of America and in like manner will <br />pay interest from the interest payment date next preceding the date <br />on which this Bond is authenticated, unless this Bond is <br />authenticated and registered as of an interest payment date, in <br />which event it shall bear interest from such interest payment date, <br />or unless this Bond is authenticated and registered prior to March <br />2, 1993, in which event it shall bear interest from its date, until <br />payment of such principal sum shall have been discharged, at the <br />rate per annum stated above, payable semiannually on March 2 and <br />September 2 in each year commencing on March 2, 1993. 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 Paying Agent, <br />Registrar and Transfer Agent, in San Francisco, California (the <br />"Bank"), and the interest hereon is payable by check mailed to the <br />owner hereof at the owner's address as it appears on the <br />registration books of the Bank, or at such address as may have been <br /> <br /> <br />