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Paying Agent/Registrar, and, thereupon, one or more new fully registered Certificates of the same <br /> stated maturity, of authorized denominations, bearing the same rate of interest, and for the same <br /> aggregate principal amount will be issued to the designated transferee or transferees. <br /> Neither the City nor the Paying Agent/Registrar shall be required to transfer or exchange any <br /> Certificate called for redemption, in whole or in part, within 45 days of the date fixed for <br /> redemption;provided,however,such limitation shall not be applicable to an exchange by the Owner <br /> of the uncalled balance of a Certificate. <br /> The City, the Paying Agent/Registrar, and any other person may treat the person in whose <br /> name this Certificate is registered as the owner hereof for the purpose of receiving payment as herein <br /> provided(except interest shall be paid to the person in whose name this Certificate is registered on <br /> the Record Date or Special Record Date, as applicable) and for all other purposes, whether or not <br /> this Certificate be overdue, and neither the City nor the Paying Agent/Registrar shall be affected by <br /> notice to the contrary. <br /> IT IS HEREBY CERTIFIED AND RECITED that the issuance of this Certificate and the <br /> series of which it is a part is duly authorized by law; that all acts, conditions and things required to <br /> be done precedent to and in the issuance of the Certificates have been properly done and performed <br /> and have happened in regular and due time, form and manner, as required by law; and that the total <br /> indebtedness of the City, including the Certificates, does not exceed any constitutional or statutory <br /> limitation. <br /> IN WITNESS WHEREOF, this Certificate has been duly executed on behalf of the City, <br /> u ',yam s oft.I seal, in accordance with law. <br /> 0101 \ k• <br /> City Cl- , 'ity of San Marcos, Texas Mayor, City of San Marcos, Texas <br /> ,[CITY S'AL] <br /> (b) [Form of Certificate of Paying Agent/Registrar] <br /> CERTIFICATE OF PAYING AGENT/REGISTRAR <br /> This is one of the Certificates referred to in the within mentioned Ordinance. The series of <br /> Certificates of which this Certificate is a part was originally issued as one Initial Certificate which <br /> was approved by the Attorney General of the State of Texas and registered by the Comptroller of <br /> Public Accounts of the State of Texas. <br /> REGIONS BANK, Houston, Texas, <br /> as Paying Agent/Registrar <br /> Dated: By: <br /> Authorized Signatory <br /> San Marcos CTRCO 2017:Ordinance 23 <br />