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<br />I <br /> <br />I <br /> <br />I <br /> <br />As provIded in the Ordinance, and subject to certain limitations therein set forth, thIS Certificate is <br />transferable upon surrender of this Certificate for transfer at the Designated Payment/Transfer Office, with <br />such endorsement or other evidence of transfer as is acceptable to the Paymg Agent/Registrar, and, <br />thereupon, one or more new fully registered Certificates of the same stated maturity, of authorized <br />denommatIons, bearing the same rate of interest, and for the same aggregate pnncipal amount will be issued <br />to the designated transferee or transferees, <br /> <br />Neither the City nor the Paying Agent/Registrar shall be reqUIred to transfer or exchange any <br />CertIficate called for redemption, in whole or in part, within 45 days of the date fixed for redemption, <br />provided, however, such limitation shall not be applIcable to an exchange by the Owner of the uncalled <br />balance of a Certificate, <br /> <br />The CIty, the Paying Agent/Registrar, and any other person may treat the person in whose name this <br />Certificate is registered as the owner hereoffor the purpose of receiving payment as herem provided (except <br />interest shall be paid to the person in whose name this Certificate IS regIstered on the Record Date or SpecIal <br />Record Date, as applicable) and for all other purposes, whether or not this Certificate be overdue, and neIther <br />the City nor the Paymg Agent/Registrar shall be affected by notice to the contrary <br /> <br />IT IS HEREBY CERTIFIED AND RECITED that the issuance of this Certificate and the series of <br />which it is a part IS duly authorized by law; that all acts, conditions and things reqUIred to be done precedent <br />to and in the issuance of 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 indebtedness of the City, <br />mcluding the Certificates, does not exceed any constitutional or statutory limitation. <br /> <br />IN WITNESS WHEREOF, this Certificate has been duly executed on behalf of the CIty, under its <br />offiCIal seal, in accordance with law <br /> <br />City Clerk, City of San Marcos, Texas <br /> <br />Mayor, CIty of San Marcos, Texas <br /> <br />[CITY SEAL] <br /> <br />San Marcos CTRCO 2005 Ord 12-07-2005 <br /> <br />19 <br />