Ord 2018-016/authorizing the issuance and sale of $47,065,000 City of San Marcos, Texas, Combination Tax And Revenue Certificates of Obligation, Series 2018

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master plan; and (II) the payment of professional services in connection therewith including legal, fiscal and engineering fees and the costs of issuing the Certificates. The Certificates and the interest thereon are payable from the levy of a direct and continuing ad valorem tax, within the limit prescribed by law, against all taxable property in the City and by a limited pledge of certain Surplus Revenues of the City's waterworks and sewer system. [Redemption Provisions* The City has reserved the option to redeem the Certificates maturing on and after , 20 *, before their respective scheduled maturity in whole or in part in integral multiples of $5,000 on , 20 *, or on any date thereafter, at a price equal to the principal amount of the Certificates so called for redemption plus accrued interest to the redemption date. If less than all of the Certificates are to be redeemed, the City shall determine the amounts thereof to be redeemed and shall direct the Paying Agent/Registrar (or DTC or a successor securities depository, as applicable, if the Certificates are in Book-Entry form) to call by lot Certificates, or portions thereof within such maturity or maturities and in such amounts, for redemption. The Certificates maturing on , 20 * (the "Term Certificates") are subject to mandatory sinking fund redemption by lot prior to maturity in the following amounts, on the following dates and at a price of par plus accrued interest to the redemption date. Certificates Maturing ,20 ' Redemption Date Principal Amount , 20 $ 20 * $ *1** *Final Maturity The principal amount of the Term Certificates required to be redeemed pursuant to the operation of the mandatory sinking fund redemption provisions shall be reduced, at the option of the City by the principal amount of any Term Certificates of the stated maturity which, at least 50 days prior to a mandatory redemption date, (I) shall have been acquired by the City, at a price not exceeding the principal amount of such Term Certificates plus accrued interest to the date of purchase thereof, and delivered to the Paying Agent/Registrar for cancellation, (2) shall have been purchased and canceled by the Paying Agent/Registrar at the request of the City with monies in the Interest and Sinking Fund at a price not exceeding the principal amount of the Tenn Certificates plus accrued interest to the date of purchase thereof; or (3) shall have been 'As provided in each Pricing Certificate. To the extent that the Pricing Certificate relating to the Certificates is inconsistent with any provisions in this Form of Certificate or contains information to complete missing information in this Form of Certificate,the language in the Pricing Certificate shall be used in the executed Certificates. "Use of Tenn Certificates, if any,to be determined by the Pricing Officer. SAN NI&ROOS Cxros(10d 1018 ordinance 26