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If a date for the payment of the principal of or interest on the Certificates is a Saturday,
<br /> Sunday, legal holiday, or a day on which banking institutions in the city in which the Designated
<br /> Payment/Transfer Office is located are authorized by law or executive order to close, then the date
<br /> for such payment shall be the next succeeding day which is not a Saturday, Sunday, legal holiday,
<br /> or day on which such banking institutions are authorized to close; and payment on such date shall
<br /> have the same force and effect as if made on the original date payment was due.
<br /> This Certificate is one of a series of fully registered certificates of obligation specified in the
<br /> title hereof issued in a total aggregate principal amount of$34,270,000 (herein referred to as the
<br /> "Certificates"), issued pursuant to a certain Ordinance of the City Council of the City (the
<br /> "Ordinance"),for the following purposes: (1)constructing,improving,extending and expanding city
<br /> streets, bridges, sidewalks, bike lanes, pedestrian lanes, bus stops, parking, and related traffic
<br /> improvements including acquiring any necessary rights-of-way and equipment; (2) constructing,
<br /> improving and extending the City's water and waste water system including acquiring equipment;
<br /> (3) constructing, improving and extending the City's electric utility system including acquiring
<br /> equipment; (4) constructing, improving and designing existing municipal buildings to include the
<br /> activity center, city hall, library, public/community services building and related equipment
<br /> purchases; (5) constructing, designing, equipping and renovating city parking facilities; (6)
<br /> constructing and improving the city's drainage and flood control facilities; (7) constructing and
<br /> improving the city's airport; (8) constructing, designing, equipping and renovating public safety
<br /> facilities to include police and fire station improvements and equipment purchases; (9) replacing,
<br /> improving,and developing the disaster recovery infrastructure and network infrastructure equipment;
<br /> and (10) the payment of professional services in connection therewith including legal, fiscal and
<br /> engineering fees and the costs of issuing the certificates of obligation
<br /> The Certificates and the interest thereon are payable from the levy of a direct and continuing
<br /> ad valorem tax, within the limit prescribed by law, against all taxable property in the City and by a
<br /> limited pledge of certain Surplus Revenues of the City's waterworks and sewer system, all as
<br /> provided in the Ordinance.
<br /> The City has reserved the option to redeem the Certificates maturing on and after August 15,
<br /> 2027, before their respective scheduled maturity in whole or from time to time in part in integral
<br /> multiples of$5,000, on August 15, 2026, or on any date thereafter, at a price equal to the principal
<br /> amount of the Certificates so called for redemption plus accrued interest to the redemption date. If
<br /> less than all of the Certificates are to be redeemed,the City shall determine the amounts thereof to
<br /> be redeemed and shall direct the Paying Agent/Registrar to call by lot Certificates,or portions thereof
<br /> within such maturity or maturities and in such amounts, for redemption.
<br /> [The Certificates maturing on August 15, 20_(the "Term Certificates") are subject to
<br /> mandatory sinking fund redemption by lot or other customary random method prior to maturity in
<br /> the following amounts, on the following dates and at a price of par plus accrued interest to the
<br /> redemption date.
<br /> San Marcos CTRCO 2017:Ordinance 21
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