Ord 2017-023/authorizing the issuance and sale of City of San Marcos, Texas, Waterworks and Waste Water System Revenue Bonds, series 2017a in the amount of $4,760,000; providing for the security for and payment of said bonds; prescribing the form of said

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(b) Final Accounting. The City shall render a final accounting to the TWDB, within 60 days of project completion, in reference to the total cost incurred by the City for the improvements and extensions to the System together with a copy of "as built" plans of the project upon completion. (c) Surplus Bond Proceeds. The City shall use any surplus proceeds from the Bonds remaining after completion of the Utility System improvements, to redeem in inverse annual order of maturity, the Bonds owned by the TWDB. Any remaining surplus thereafter shall be transferred to the credit of the Interest and Sinking Account transferred to any Reserve Fund or, as authorized by the Executive Administrator of the TWDB, for any eligible project cost. (d) Annual Reports. At the end of each fiscal year (and in no event later than 120 days), annual audits of the City, prepared by a Certified Public Accountant in accordance with generally accepted auditing practices, shall be delivered to the TWDB as long as the State owns any of the Bonds. (e) Final Accounting. If, following completion of the project, the Executive Administrator of the TWDB disapproves construction of any portion of the project as not being in accordance with the plans and specifications, the City shall, immediately after filing the final accounting, return to TWDB the cost as determined by the Executive Administrator relating to the parts of the project not constructed in accordance with the plans and specifications, to the nearest multiple of $5,000, and the TWDB shall thereupon cancel and deliver to the City, in inverse maturity order, a like amount of Bonds held by the TWDB. (f) Davis -Bacon Compliance. All laborers and mechanics employed by contractors and subcontractors for projects shall be paid wages at rates not less than those prevailing on projects of a similar character in the locality in accordance with the Davis -Bacon Act, and the U.S. Department of Labor's implementing regulations. The City, all contractors, and all sub- contractors shall ensure that all project contracts mandate compliance with Davis -Bacon. All contracts and subcontracts for the construction of the project carried out in whole or in part with financial assistance made available as provided herein shall insert in full in any contract in excess of $2,000 the contracts clauses as provided by the TWDB. (g) Accountability and Transparency Compliance. The city shall provide the TWDB with all information required to be reported in accordance with the Federal Funding Accountability and Transparency Act of 2006, Pub. L. 109-282, as amended by Pub. L. 110-252. The City shall obtain a Data Universal Numbering System (DUNS) Number and shall register with System for Award Management (SAM), and maintain current registration at all times during which the Bonds are outstanding. (h) Disposition of Proceeds. All loan proceeds will be timely and expeditiously used, as required by 40 CFR § 35.3135(d), and also shall provide that the City will adhere to the approved project schedule. SANMARCOS/W W W SRev2017A: Ordinance 45