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r i FORM OF REGISTERED BOND UNITED STATES OF AMERICA STATE OF INDIANA,COUNTY OF MORGAN TOWN OF MOORESVILLE, INDIANA SEWAGE WORKS REVENUE BOND, SERIES 2010 No. 10R- Interest Rate [Maturity Date] Original Date Authentication Date [CUSIP] [February/August] ,20_ , 20 1,20 Registered Owner: Principal Amount: The Town of Mooresville (the"Town"), in Morgan County, State of Indiana, for value received, hereby promises to pay to the Registered Owner specified above, or registered assigns, upon surrender hereof, solely out of the special revenue fund hereinafter referred to, the Principal Amount specified above, [or so much thereof as may be advanced from time to time and be outstanding as evidenced by the records of the Registered Owner making payment for this Bond(as defined hereinafter),or its assigns,] on the [Maturity Date set forth above] OR [February 1 or August 1 in the years and in the amounts as set forth in Exhibit A attached hereto] (unless this Bond [as defined hereinafter] be subject to and be called for redemption prior to maturity as hereinafter provided), and to pay interest thereon until the Principal Amount is fully paid at the Interest Rate per annum specified above from [the dates of payment made on this Bond] OR [the interest payment date immediately preceding the Authentication Date of this bond, unless this bond is authenticated on or before 15, 200_, in which case interest shall be paid from the Original Date specified above, or unless this bond is authenticated after the fifteenth day of the calendar month immediately preceding an interest payment date and on or before such interest payment date, in which case interest shall be paid from such interest payment date]. Interest shall be payable on February 1 and August 1 of each year, commencing 1, 200 . Interest shall be calculated on the basis of twelve(12)thirty(30) day months for a three hundred sixty(360) day year. [The principal of and premium, if any, on this bond are payable at , acting as registrar and paying agent, or of any successor registrar and paying agent appointed under the Ordinance defined and described herein (the "Registrar" and the "Paying Agent").] [Principal and] Interest hereon will be paid by [cash or draft mailed or delivered by the Registrar] OR [wire transfer for deposit to a financial institution as directed by the Indiana Finance Authority(the"Authority")on the due date or,if such due date is a day when financial institutions are not open for business, on the business day immediately after such due date] to the Registered Owner hereof at the address as it appears on the registration books of the Registrar as of the fifteenth day of the month immediately preceding the applicable interest payment date or at such other address as is furnished to the Paying Agent in writing by such Registered Owner. Notwithstanding anything in this bond to the contrary, so long as The Depository Trust Company, New York, New York ("DTC"), or its nominee, or any successor thereto, is the registered owner of this bond, interest on, together with the principal of, this bond will be paid directly to DTC by wire transfer in same day funds by the Registrar and Paying Agent. All payments on this bond shall be made in any coin or currency of the United States of America which, on the dates of such payments, shall be legal tender for the payment of public and private debts. 12 f