Ord 2017-054/authorizing the issuance and sale of $34,270,000City of San Marcos, Texas, Combination Tax And Revenue Certificates of Obligation, Series 2017

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registered in the name of the successor securities depository, or its nominee, or in whatever name or names Owners transferring or exchanging Certificates shall designate, in accordance with the provisions of this Ordinance. Section 3.11. Payments to Cede & Co. Notwithstanding any other provision of this Ordinance to the contrary, so long as any Certificates are registered in the name of Cede&Co.,as nominee of DTC,all payments with respect to principal of,premium,if any,and interest on such Certificates,and all notices with respect to such Certificates, shall be made and given, respectively, in the manner provided in the Representation Letter. ARTICLE IV REDEMPTION OF CERTIFICATES BEFORE MATURITY Section 4.01. Limitation on Redemption. The Certificates shall be subject to redemption before scheduled maturity only as provided in this Article IV. Section 4.02. Redemption of Certificates Prior to Maturity. (a) Optional Redemption. (i) The City reserves the option to redeem the Certificates maturing on and after August 15,2027,in whole or from time to time in part,before their scheduled maturity date, on August 15, 2026, or on any date thereafter(such redemption date or dates to be fixed by the City) at a price equal to the principal amount of the Certificates called for redemption plus accrued interest from the most recent interest payment date on which interest has been paid or duly provided for to the redemption date. (ii) The City, at least forty-five (45) days before the redemption date (unless a shorter period shall be satisfactory to the Paying Agent/Registrar), shall notify the Paying Agent/Registrar of such redemption date and of the principal amount of Certificates to be redeemed. [(b) Mandatory Sinking Fund Redemption (i) The Certificates scheduled to mature on August 15, 20 (the "Term Certificates")are subject to scheduled mandatory redemption by the Paying Agent/Registrar (or DTC or a successor securities depository, as applicable, if the Certificates are in Book- Entry form) by lot, or by any other customary method that results in a random selection, at a price equal to the principal amount thereof, plus accrued interest to the redemption date, out of moneys available for such purpose in the Interest and Sinking Fund, in the dates and in the respective principal amounts, set forth in the following schedule: San Marcos CTRCO 2017:Ordinance 14