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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constructing, designing, equipping and renovating public safety improvements, including relocation of fire stations; and (8) the payment of professional services in connection therewith including legal, fiscal and engineering fees and the costs of issuing the certificates of obligation The Certificates and the interest thereon are payable from the levy of a direct and continuing ad valorem tax, within the limit prescribed by law, against all taxable property in the City and by a limited pledge of certain Surplus Revenues of the City's waterworks and sewer system, all as provided in the Ordinance. The City has reserved the option to redeem the Certificates maturing on and after August 15, 2026, before their respective scheduled maturity in whole or from time to time in part in integral multiples of $5,000, on August 1.5, 2025, or on any date thereafter, at a price equal to the principal amount of the Certificates so called for redemption plus accrued interest to the redemption date. If less than all of the Certificates are to be redeemed, the City shall determine the amounts thereof to be redeemed and shall direct the Paying Agent /Registrar to call by lot Certificates, or portions thereof within such maturity or maturities and in such amounts, for redemption. The Certificates maturing on August 15, 2035(the "Term Certificates ") are subject to mandatory sinking fund redemption by lot or other customary random method prior to maturity in the following amounts, on the following dates and at a price of par plus accrued interest to the redemption date. �(1' 1kW August 15, 2035 Redemption D Principal Amount August 15, 2034 $2,265,000 Augus5 15, 2035* 2,330,000* *Final Maturity The principal amount of the Term Certificates required to be redeemed pursuant to the operation of the mandatory sinking fund redemption provisions shall be reduced, at the option of the City by the principal amount of any Term Certificates of the stated maturity which, at least 50 days prior to a mandatory redemption date, (1) shall have been acquired by the City, at a price not exceeding the principal amount of such Term Certificates plus accrued interest to the date of purchase thereof, and delivered to the Paying Agent /Registrar for cancellation, (2) shall have been purchased and canceled by the Paying Agent /Registrar at the request of the City with monies in the Interest and Sinking Fund at a price not exceeding the principal amount of the Term Certificates plus accrued interest to the date of purchase thereof, or (3) shall have been redeemed pursuant to the optional redemption provisions and not theretofore credited against a mandatory sinking fund redemption requirement. San Marcos CtRCO 2016: Ordinance 22