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FORM OF BOND United States of America State of California County of San Mateo Number A- * * * $ * * * CITY OF REDWOOD CITY Limited Obligation Refunding Improvement Bond Seaport Boulevard Assessment District (Reassessment and Refunding of 1990) INTEREST RATE MATURITY DATE BOND DATE ,1990 CUSIP NUMBER REGISTERED OWNER: PRINCIPAL AMOUNT: DOLLARS Under and by virtue of the Refunding Act of 1984 for 1915 Improvement Act Bonds, Division 11.5 of the Streets and Highways Code of California (the "Act"), the City of Redwood City, County of San Mateo, State of California (the "City"), will, out of the redemption fund for the payment of the bonds issued upon the unpaid portion of reassessments made for the refunding bonds more fully described in proceedings taken pursuant to the Resolution of Intention adopted by the City Council of the City on February 4, 1985, pay to the Registered Owner named above or registered assigns on the maturity date stated above, in lawful money of the United States of America and in like manner pay interest at the rate per annum stated above, payable semiannually on March 2 and September 2 in each year commencing March 2, 1991. This Bond bears interest from the interest payment date next preceding its date of authentication and registration unless it is authenticated and registered (i) prior to an interest payment date and after the close of business of the fifteenth day preceding such interest payment date, in which event it shall bear interest from such interest payment date, or (ii) prior to the close of business on the fifteenth day preceding March 2, 1991, in which event it shall bear interest from its date, until payment of such principal sum shall have been discharged. EXHIBIT A Page 1 11261