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WHEREAS, it is hereby officially found and determined that the meeting at which this <br /> Ordinance was passed was opened to the public, and public notice of the time, place and purpose <br /> of said meeting was given,as required by Chapter 551,Texas Government Code,as amended;NOW <br /> THEREFORE: <br /> BE IT ORDAINED BY THE CITY COUNCIL OF CITY OF SAN MARCOS, TEXAS: <br /> SECTION 1. REDEMPTION OF SERIES 2006 BONDS AND TAXABLE SERIES 2006A BONDS. <br /> The City Council hereby calls the Series 2006 Bonds and the Taxable Series 2006A Bonds for <br /> redemption on the date determined by GBRA(but in not event later than October 31,2016)deemed <br /> appropriate by GBRA to coincide with the issuance and delivery of the GBRA Refunding Bonds <br /> (the "Redemption Date") at the redemption price of the par plus accrued interest thereon to the <br /> Redemption Date. <br /> SECTION 2. NOTICES OF DEFEASANCE AND REDEMPTION. The City Council hereby <br /> approves the forms of the Notice of Defeasance and Redemption for the Series 2006 Bonds and the <br /> Taxable Series 2006A Bonds attached hereto as Exhibit A. By no later than 30 days prior to the <br /> Redemption Date determined by GBRA,J.P.Morgan Chase Bank,N.A.,as Paying Agent/Registrar <br /> for the Series 2006 Bonds and the Taxable Series 2006A Bonds, shall provide written notice of <br /> redemption to the Registered Owner of each Series 2006 Bond and Taxable Series 2006A Bond to <br /> be redeemed in the respective form of notice approved herein and in accordance with the respective <br /> ordinances which authorized the issuance of the Series 2006 Bonds and the Taxable Series 2006A <br /> Bonds. <br /> SECTION 3. INCORPORATION OF RECITALS. The City hereby finds that the statements set <br /> forth in the recitals of this Ordinance are true and correct, and the City hereby incorporates such <br /> recitals as a part of this Ordinance. <br /> SECTION 4. EFFECTIVE DATE. In accordance with Section 3.11(h)of the City Charter,this <br /> Ordinance shall become effective immediately after it is passed on second and final reading. <br /> [The remainder of this page,intentionally left blank] <br /> 4 <br />