Res 2015-045/Loan forgiveness agreement with TWBD for Reclaimed Water System Expansion

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NOW THEREFORE, based on these findings, the TWDB resolves as follows: 1. A commitment is made by the TWDB tCity und through the TWDB's propos amount of $811,915 from the Clean Water State Revolving purchase of-$410,000 City of San Marcos, Texas, Waterworks and Wastewater System Revenue Bonds, Series 2015 and the execution of a Loan Forgiveness Agreement in the amount of $401,915. This commitment will expire on May 31, 2015. Such commitment is conditioned as follows: Standard Conditions 1, this commitment is contingent on a future sale of bonds by the TWDB or on the availability of funds on hand; 2, this commitment is contingent upon the stating that all of the requirements of lawse Attorney General of the State of Texas g under which said Obligations were issued have been complied with; that said Obligations were issued in conformity with the Constitution and laws of the State of Texas; and that said Obligations are valid and binding obligations of the City; 3, this commitment is contingent upon a City's compliance with all applicable Amm requirements contained in 31 TAC Chapter , ption only 4, the Obligations must provide that the Obligations can be called for after the first interest in inverse order of maturity, and on any date beginning on or payment date which is 10 years from the dated date of the Obligations, at a redemption price of par, together with accrued interest to the date fixed for redemption; the 5, the City, or an obligated person for whom financial �n combinarion TWDB in the application for financial assistance either individually or with other issuers of the City's Obligations or obligated persons, will, at a minimum, regardless of the amount of the Obligations, covenant to comply with requirements for by continuing disclosure on an ongoing basis substantially in the c2 -12 (Rule 5c2- 2) Securities and Exchange Commission (SEC) in 17 CFR § and determined as if the TWDB were a Participating Underwriter within the meaning of such rule, such continuing disclosure undertaking being for the benefit of the TWDB and the beneficial owners of the City's Obligations, if the TWDB sells or otherwise transfers such Obligations, and the beneficial bonds owners o SEC WDB1 s ; bonds if the City is an obligated person with respect to such 6. the Obligations must contain a provision requiring the City to levy a tax and/or maintain and collect sufficient rates and charges to produce system revenues in an amount necessary to meet the debt service requirements of all outstanding obligations and to maintain the funds established and required by the Obligations; 2 TWDB Contract No. LF1000351 Exhibit A, Page 3 of 9