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APPENDIX A � (FORM OF SERIES 2013 BOND) NO. UNITED STATES OF AMERICA $ STATE OF CALIFORNIA CITY OF REDWOOD CITY PUBLIC FINANCING AUTHORITY WATER REVENUE REFUNDING BONDS � SERIES 2013 Rate of Interest Maturity Date Dated Date CUSIP REGTSTERED OWNER: CEDE & CO. PRINCIPAL AMOUNT: DOLLARS The City of Redwood City Public Financing Authority, a public body corporate and politic, duly created and lawfully existing under the laws of the State of California (the "Authority"), for value received, hereby promises to a p y (but only out of.the Revenues hereinafter referred to) to the registered owner specified above or registered assigns on the maturity date specified above (subject to any right of prior redemption provided for)the principal sum specified above, together with interest thereon from the Interest Payment Date (defined below) next preceding the date of authentication hereof (uniess such date of authentication is during the period commencing after the fifteenth day of the month preceding an Interest Payment Date (the "Record Date") through and including the next succeeding Interest Payment Date, in which event this Bond shall bear interest from such Interest Payment Date, or unless such date of • authentication is on or prior to the first Record Date, in which event it shall bear interest from the Dated Date until the principal hereof shall have been paid at the interest rate per annurn specified above, payable on August 1,2013, and semiannually thereafter on February 1 and August 1 in � each year (each, an "Interest Payment Date"); provided, however, that if on the date of authentication of this Bond, interest is then in default on this Bond, such Bond shall bear interest from the Interest Payment Date to which interest has previously been paid or made available for payment. The principal of this Bond is payable to the Owner hereof in lawful money of the United States of America upon presentation and surrender of this Bond at the Principal Office (as defined in the Indenture) of U.S. Bank National Association (the "Trustee") in St. Paul, Minnesota. Payment of interest on this Bond due on or before the maturity or prior redemption thereof shall be made to the person in whose name such Bond is registered,as of the Record Date preceding the applicable Interest Payment Date, on the registration books kept by the Trustee at its Principal Office, such interest to be paid by check mailed by first class mail on such interest payment date to the registered owner at his or her address as it appears on such books, or, upon the written request from any Owner of Bonds aggregating, at least $1,000,000, received on or A-1 338471 1.DOC