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• • temporary note under Sections 53850 et seq. of the Government Code of the State of California, designated "City of the Town of Los Altos Hills 1982 Tax and Revenue Anticipation Note" (the "Note"), •to be in the denomination of $400,000, to be dated the date of delivery to the purchaser, to mature on June 30, 1983, (subject to right of prepaymentas provided in Section 3) and to bear interest, payable at maturity and computed on a 30-day month/360-day year basis, at the rate often percent (10%) per annum. Both the principal of and interest on the Note shall be payable, only upon surrender thereof, in lawful money of the United States of America, at the office of the City Treasurer. Section 3. Right of Prepayment. The City shall have the right at its option to prepay the Note at any time, in whole or in part, at a prepayment price equal to the principal amount to be prepaid plus accrued interest on such principal amount. Section 4. Form of Note. The Note shall be issued without coupons and shall besubstantially h in the form and substance set forth in Exhibit A attached hereto and by reference incorporated herein, the blanks in said form to be filled in with appropriate words and figures. Section 5. Use of Proceeds. The moneys so borrowed shall be deposited in the General Fund of the City and used and expended by the City for any purpose for which it is authorized to expend funds from the General Fund of the City. Section 6. Security. The principal amount of the Note, together with the interest thereon, shall be payable from taxes, revenue and other moneys which are received by the City for the General Fund of the City for the Fiscal Year 1982-1983 and lawfully available for the payment of the Note. As provided in Section 53857 of the California Government Code, the Note shall be a general obligation of the City payable from any moneys of the City lawfully available therefor. Section 7. Sale of Note. The offer of University National Bank & Trust Company, of Palo Alto, California, to purchase the Note is hereby accepted and the appropriate officers of the City are hereby authorized and directed to execute and deliver the Note to said purchaser upon payment to the Treasurer of the purchase price of $400,000. Section 8. Execution of Note. The City Manager is hereby authorized to execute the Note by manual signature, and the City Clerk is hereby authorized to countersign the same by manual signature and to affix the seal of the City thereto manually, and said officers are hereby authorized to cause the blank spaces thereof to be filled in as may be appropriate. Section 9. Official Action. The Mayor, the City Manager, the City Treasurer and the City Clerk, or any of them, are further authorized and directed to make, execute and deliver to University National Bank &Trust Company, as purchaser of the Note, (a) a certificate in the form customarily required by purchaser of bonds of public corporations generally, certifying to the genuineness and due execution of the Note, (b) a receipt in similar form 2