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<br /> (iii) The Initial Bond shall be numbered T-l. <br /> Section 11. DEFINITIONS. Throughout this Ordinance the <br /> following terms as used herein shall have the meanings set forth <br /> below, unless the context clearly indicates otherwise: <br /> ( a ) The term "city" means City of San Marcos or the <br /> governing body thereof, as the context may dictate; <br /> (b) The term "City Councilll means the governing body of <br /> the City; <br /> (c) The term "Bonds II means the $3,020,000 City of <br /> San Marcos, Texas, General Obligation Bonds, Series 1985, dated <br /> June 1, 1985, authorized by this Ordinance; <br /> (d) The term "Bond" additionally means any obligation <br /> of the City authorized to be issued by this Ordinance, whether <br /> initially delivered or issued in exchange for, upon transfer of or <br /> in lieu of, any Bond previously issued; <br /> (e) The term "Ordinance" means this Ordinance; <br /> (f) The term "Initial Bond" means the Bond authorized <br /> to be issued pursuant to this Ordinance, which has the <br /> Registration Certificate executed by or on behalf of of the <br /> Comptroller of Public Accounts of the state of Texas endorsed <br /> thereon; <br /> (g) The term "Initial Date" means the date of the <br /> Bonds, as provided in Section 2 of this Ordinance; <br /> (h) The term "Bondholder" or "Holder", with respect to <br /> any Bond, means the ~erson or entity in whose name such Bond is <br /> registered in the Reg1stration Books; <br /> (i) The term "Outstanding", when used in this Ordinance <br /> with respect to Bonds, means, as of the date of determination, all <br /> Bonds theretofore delivered and issued pursuant to this Ordinance, <br /> except: <br /> (i) Bonds theretofore cancelled by the Paying <br /> Agent/Registrar or delivered to the Paying Agent/Registrar for <br /> cancellation; <br /> (ii) Bonds for which payment has been duly <br /> provided by the C1ty by the irrevocable deposit with the Paying <br /> Agent/Registrar of money in the amount necessary to fully pay the <br /> principal of, premium, 1f any, and interest thereon to maturity or <br /> redemption, as the case may be; provided that, if such Bonds are <br /> to be redeemed, notice thereof shall have been duly given in <br /> accordance with this Ordinance or irrevocabl¥ provided to be given <br /> to the satisfaction of the Paying Agent/ Reg1strar, or waived; <br /> -14- <br />