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15 Special Meeting October 2, 1986 Page 3 Section 10 on Page 11 in first paragraph, complete blank with $16,355,000; on Page 13 complete blank above Paying Agent/Registrar with "MBank Austin, N.A., Austin, Texasll; Page 14 (ii) complete blanks with 1st day of November; Page 14 (iii) complete blank with Paying Agent/Registrar is IIMBank Austin, N.A., Austin, Texas; on Page 15 (d) complete blank with $16,355,000; on Page 18 in Section 14. (b) delete first word in paragraph, which was IIThatll; on Page 18 in Section 16. (b) in second line change "(a) 11 to 11 (A) ", in fourth and fifth lines of same paragraph add rated "AA" ¡:;Y-Standard & Poor's Corporation or Moodyls Investors Service; in seventh line of same paragraph add ratings as follows: Standard & Poor's Corporation of AA or Moody's Investors Services of AA; in seventh, eight and ninth lines of same paragraph add unless otherwise approved by each insurer of then effective municipal bond guaranty insurance with respect to the payment of the principal of and interest on the Bonds; in fifteenth line of same paragraph delete"Federal Land Banks, Federal Intermediate Credit Bank, Banks for Cooperatives"; on Page 19, Section l6.(c) should read as follows: IIInvestments made pursuant to subparagraph (b) above shall comply with all applicable Federal Regulations which relate to arbitrage and the rebate to the United States of excess arbitrage earn- ings.lI; on Page 19 in Section 19 to complete the blank with $1,314,832.71; on Page 20 in Section 22, the title of the Section to read as follows: FINAL DEPOSITS; (Delete) DIRECT OBLIGATIONS OF THE UNITED STATES OF AMERICA; on Page 21 in Section 22, (2) to begin as follows: (delete) IIdirect obligations of the United States of America, . . .11; on the last line of the same paragraph to read as follows: money or (delete) direct obligations; on Page 21 in Section 22. (b) in the second line to read: " . (delete) direct obligations of the United States of Ameri- ca; "and in the fourth line to read" (delete) such direct obligations. . .11. On Page 21 in Section 22. (d) the second line to read (delete) direct obligations of the United States of America. . . . On Page 22 in Sectlon 23 ln the last llne to read. . . May 1 and (delete) November 1. on Page 23 in Section 25. (b) for the initial appointed members of the Board to read: Ruben Ruiz, Sr., Austin Curlee, R. G. Phillips and Mary Borrn; on Page 24 in Section 25(c) in the eleventh line to delete the Us" from Ordinance; on Page 29 in Section 26 to add the following para- graph just before Section (m): "Additionally, if at the time of any such event of default described in (a) or (b) of this Section 26(1) pay- ment of the principal of or interest on the bonds, either or both, is insured by one or more policies of municipal bond guaranty insurance, the City without delay, shall notify the insurer or insurers named in such policy or policies as to the nature and extent of such event of default"; on Page 29 for Section (0) to read as follows: "REBATE. The City will comply with provisions of Section l48(f) of the Internal Reven- ue Code of 1986 which relate to the rebate to the United States of the excess arbitrage earnings as detailed in a letter of instructions to be delivered to the City upon issuance of the Bonds"; on Page 31 in Section (e) in the seventh line to add an IISII to month; on Page 31 for Section (f) to read as follows: IINotwithstanding any provision of this Section 27 to the contrary, however, while any policy of municipal bond guaranty insurance is in effect with respect to payment of principal of or inter- est on the bonds, either or both, no such amendment shall be valid or effective unless such amendment shall have been approved by the insurer named in each such policy"; on Page 33 in the first full paragraph on the page to change the wording from "Government Securitiesll to "direct obligations of the United States of Americæ'throughout the paragraph; on Page 32 in Section 32 to complete the blanks as follows: " . . . at a price of $15,821,373.25 to Salomon Brothers Inc and Texas Capital Markets Group, together with accrued lnterest on the Bonds from October 1, 1986, to date of delivery. . . relating to the Bonds, dated October 2, 1986 . . ."; on Page 34 in Section 33 in the third line change "issue" to "issuance" and in the sixth line of the same paragraph to add the following language: "1954, as amended, or any successor provJ.sion now contemplated in the Tax Reform Act of 1986 as contained in conference committee Report No. 99-841 to accompany H.R. 3838 . . ."; and on Page