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BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS: <br /> ARTICLE I <br /> DEFINITIONS AND OTHER PRELIMINARY MATTERS <br /> Section 1.01. Definitions. <br /> Unless otherwise expressly provided or unless the context clearly requires otherwise,in this <br /> Ordinance the following terms shall have the meanings specified below: <br /> "Certificate" means any of the Certificates. <br /> "Certificates"means the City's certificates of obligation entitled"City of San Marcos,Texas, <br /> Combination Tax and Revenue Certificates of Obligation, Series 2017" authorized to be issued by <br /> Section 3.01 of this Ordinance. <br /> "Closing Date" means the date of the initial delivery of and payment for the Certificates, <br /> which is anticipated to be on or about September 28, 2017. <br /> "Code" means the Internal Revenue Code of 1986, as amended, including applicable <br /> regulations, published rulings and court decisions relating thereto. <br /> "Construction Fund" means the construction fund established by Section 8.01(a) of this <br /> Ordinance. <br /> "Dated Date" means the date designated as the date of the Certificates in Section 3.02(a)of <br /> this Ordinance. <br /> "Defeasance Securities" means (i) Federal Securities, (ii) noncallable obligations of an <br /> agency or instrumentality of the United States of America, including obligations that are <br /> unconditionally guaranteed or insured by the agency or instrumentality and that,on the date the City <br /> Council adopts or approves proceedings authorizing the issuance of refunding bonds or otherwise <br /> provide for the funding of an escrow to effect the defeasance of the Certificates are rated as to <br /> investment quality by a nationally recognized investment rating film not less than "AAA" or its <br /> equivalent, (iii) noncallable obligations of a state or an agency or a county, municipality, or other <br /> political subdivision of a state that have been refunded and that, on the date the City adopts or <br /> approves proceedings authorizing the issuance of refunding bonds or otherwise provide for the <br /> funding of an escrow to effect the defeasance of the Certificates, are rated as to investment quality <br /> by a nationally recognized investment rating firm no less than"AAA" or its equivalent and(iv)any <br /> other then authorized securities or obligations under applicable Texas law that may be used to <br /> defease obligations such as the Certificates. <br /> "Designated Payment/Transfer Office" means (i) with respect to the initial Paying <br /> Agent/Registrar named herein, its corporate trust office in Houston, Texas, and(ii) with respect to <br /> any successor Paying Agent/Registrar, the office of such successor designated and located as may <br /> be agreed upon by the City and such successor. <br /> San Marcos CTRCO 2017:Ordinance 2 <br />