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<br />* As provided in the Ordinance, and subject to certain limitations therein set <br />forth, this Certificate is transferable upon surrender of this Certificate for transfer <br />at the principal corporate trust office of the Paying Agent/Registrar with such <br />endorsement or other evidence of transfer as is acceptable to the Paying <br />Agent/Registrar, and, thereupon, one or more new fully registered Certificates of <br />the same stated maturity, of authorized denominations, bearing the same rate of <br />interest, and for the same aggregate principal amount will be issued to the <br />designated transferee or transferees. <br /> <br />* The City, the Paying Agent/Registrar, and any other person may treat the <br />person in whose name this Certificate is registered as the owner hereof for the <br />purpose of receiving payment as herein provided and for all other purposes, whether <br />or not this Certificate be overdue, and neither the City nor the Paying <br />Agent/Registrar shall be affected by notice to the contrary. <br /> <br />* IT IS HEREBY CERTIFIED AND RECITED that the issuance of this <br />Certificate and the series of which it is a part is duly authorized by law; that all <br />acts, conditions and things required to be done precedent to and in the issuance of <br />the Certificates have been properly done and performed and have happened in <br />regular and due time, form and manner, as required by law; and that the total <br />indebtedness of the City, including the Certificates, does not exceed any <br />constitutional or statutory limitation. <br /> <br />IN WITNESS WHEREOF, this Certificate has been duly executed on behalf of <br />the City, under its official seal, in accordance with law. <br /> <br />xxxxxx~xx <br />City Secretary, City of San Marcos, Texas Mayor, City of San Marcos, Texas <br /> <br />[SEAL] <br /> <br />(b) [Form of Certificate of Paying Agent/Registrar] <br /> <br />CERTIFICATE OF PAYING AGENT/REGISTRAR <br /> <br />This is one of the Certificates referred to in the within mentioned <br />Ordinance. The series of Certificates of which this Certificate is a part was <br />originally issued as one Initial Certificate which was approved by the Attorney <br />General of the State of Texas and registered by the Comptroller of Public Accounts <br />of the State of Texas. <br /> <br />1434f <br /> <br />-18- <br />