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Appendix A Form of Bond No. R-<<BondNumben> $<<PrincipaIAmtNumben> United States of America State of Oregon County of Lane City of Eugene, Oregon Limited Tax Pension Pool Bond Series 2002 Dated Date: CUSIP Number: Registered Owner: ----- WELLS FARGO BANK NORTHWEST, NATIONAL ASSOCIATION, as Trustee Principal Amount: -----<<PrincipaIAmtSpelled>> Dollars----- The City of Eugene, Oregon (the "City"), for value received, acknowledges itself indebted and hereby promises to pay to the registered owner, which is WELLS FARGO BANK NORTHWEST, NATIONAL ASSOCIATION, as Trustee (the "Program Trustee") under the Trust Agreement among the Program Trustee and the issuers of pension bonds which is dated as of _,2002 (the "Program Trust Agreement"), the Principal Amount indicated above, in installments as provided below, together with thereon from the date hereof at the rates provided below, computed on the basis of a 360-day year of twelve 30-day months. Interest is payable semiannually on the first day of _ and the first day of _ in each year until maturity or prior prepayment, commencing _' Date Principal Amount Interest Rate To provide additional security, the City covenants to make the following payments (the "Security Payments") to the Program Trustee on the following dates in the following amounts: Date Amount Date Amount Each Security Payment shall be credited against the Bond principal and interest payment which is due on fifteenth day following the Security Payment described above. This Bond is the City's Limited Tax Pension Pool Bond, Series 2002 (the "Bond"). This Bond is issued for the purpose of financing the City's pension liability to the Oregon Public Employees Retirement System. This Bond is authorized by the City's Resolution No. _, a Bond Declaration of the City dated as of _,2002 (the "Bond Declaration"), Chapter 945 of Oregon Laws 2001 and ORS 288.150, in full and strict accordance and compliance with all of the provisions of the Constitution and Statutes of the State of Oregon and the Charter of the City. Capitalized terms used in this Bond have the meanings defined for such terms in the Bond Declaration. This Bond is also issued in conjunction with and subject to the terms and conditions of the Program Trust Agreement. The City's obligations under this Bond, the Bond Declaration, the Program Trust Agreement and the Program are limited to paying the principal, interest and any premium on this Bond, to making Form of Bond (Appendix A to Bond Declaration) Page 1 N:\ANAL YSIS\SUE\Debt\pension bond declaration. doc 2/5/2