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<br />I <br /> <br />I <br /> <br />- <br /> <br />CIty of San Marcos, Texas, Waterworks and Sewer System Revenue Bonds, <br />Series 1996-A, <br /> <br />City of San Marcos, Texas, Waterworks and Sewer System Revenue Bonds, <br />Senes 1996-B, and <br /> <br />C1ty of San Marcos, Texas, Waterworks and Sewer System Revenue Bonds, <br />Senes I996-C <br /> <br />"Purchaser" means the person, firm or enhly mlhally purchasmg the Bonds from the C1ty and whIch 1S <br />desIg1lated m SectlOn 7 0 I of th1S Ordillance <br /> <br />"Record Date" means the last busmess day of the month next precedmg an Interest Payment Date <br /> <br />"RegIster" means the Reg1ster speCIfied in Sechon 3 06(a) of thIs Ordmance <br /> <br />"Spec1al Payment Date" means the Spec1al Payment Date prescribed by SectlOn 3 03(b) of th1S <br />Ordmance. <br /> <br />"Surety PolIcy" means, to the extent permitted by law, as eV1denced by an opmlOn of natlOnally <br />recogruzed bond counsel, a surety bond or msurance polIcy (which, under currently apphcable law, may not ent1tle <br />the provider thercofto any right ofrelmbursement or repayment other than a right to subrogatlOn upon payments <br />bemg made to bondholders) by Wh1Ch the Issuer 1S obhgated to prov1de funds up to and mcludlllg the max1mwn <br />amount and under the conditlOOS speclfied m such agreement or mstrument, prov1ded that the 1ssuer of any Surety <br />PolIcy shall be rated, at the time of 1ssuance of such Surety Pohcy, ill the hIghest ratlllg category by Standard & <br />Poor's Ratmgs Group and Moody's Investors Serv1ce <br /> <br />"System" means the CIty'S combmed Waterworks and Sewer System, includillg all present and future <br />extenslOns, enlargements, add1hons, replacements and Improvements thereto <br /> <br />"Unclauned Payments" means money depos1ted WIth the Paymg Agent/RegIstrar for the payment of the <br />prmcIpal of or mterest on the Bonds as the same come due and payable and remammg unclaImed by the Owners <br />of Bonds for 90 days after the apphcable payment or redemptlOn date <br /> <br />SectlOn 1.02 Other DefimtlOns. <br /> <br />The terms "City Council" and "C1ty" shall have the respectIve meanmgs aSSIgned m the preamble to thIS <br />OrdlOance <br /> <br />SectIon 1.03 Fmdmgs <br /> <br />The declarations, determmatlOns and findmgs declared, made and found m the preamble to thIS <br />Ordmance are hereby adopted, restated and made a part of the operatIve prov1s1ons hereof. <br /> <br />R:I.SA....'MARIWWSS_97\DOCSIORDNCE. <br /> <br />3 <br />