Ord 2016-018/authorizing the issuance and sale of $38,000,000 City of San Marcos, Texas, Combination Tax And Revenue Certificates of Obligation, Series 2016

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ARTICLE V PAYING AGENT /REGISTRAR Section 5.01. Appointment of Initial Paying Agent /Re istrar. (a) The City hereby appoints Regions Bank, Houston, Texas, as its registrar and transfer agent to keep such books or records and make such transfers and registrations under such reasonable regulations as the City and the Paying Agent /Registrar may prescribe; and the Paying Agent /Registrar shall make such transfer and registrations as herein provided. It shall be the duty of the Paying Agent /Registrar to obtain from the Owners and record in the Register the address of such Owner of each Certificate to which payments with respect to the Certificates shall be mailed, as provided herein. The City or its designee shall have the right to inspect the Register during regular business hours ofthe Paying Agent /Registrar, but otherwise the Paying Agent/Registrar shall keep the Registration Books confidential and, unless otherwise required by law, shall not permit their inspection by any other entity. (b) The City hereby further appoints the Paying Agent /Registrar to act as the paying agent for paying the principal of and interest on the Certificates. The Paying Agent /Registrar shall keep proper records of all payments made by the City and the Paying Agent /Registrar with respect to the Certificates, and of all conversions, exchanges and replacements of such Certificates, as provided in this Ordinance. (c) The Mayor of the City is hereby authorized to approve and execute an agreement between the City and the Paying Agent /Registrar, specifying the duties and responsibilities of the City and the Paying Agent /Registrar, with such changes as may be approved by the Mayor of the City. Section 5.02. Qualifications. Each Paying Agent /Registrar shall be (i) a commercial bank, trust company, or other entity duly qualified and legally authorized under applicable law, (ii) authorized under such laws to exercise trust powers, (iii) subject to supervision or examination by a federal or state governmental authority, and (iv) a single entity. Section 5.03. Maintaining Paying Agent /Registrar. (a) At all times while any Certificates are outstanding, the City will maintain a Paying Agent /Registrar that is qualified under Section 5.02 of this Ordinance. (b) If the Paying Agent /Registrar resigns or otherwise ceases to serve as such, the City will promptly appoint a replacement. San Marcos CTRCO 2016: Ordinance 18