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on the registration books kept by the Paying Agent/Registrar(the"Registration Books"). In addition, <br /> interest may be paid by such other method, acceptable to the Paying Agent/Registrar,requested by, <br /> and at the risk and expense of,the Registered Owner. In the event of a non-payment of interest on a <br /> scheduled payment date,and for 30 days thereafter, a new record date for such interest payment(a <br /> "Special Record Date")will be established by the Paying Agent/Registrar,if and when funds for the <br /> payment of such interest have been received from the City. Notice of the Special Record Date and of <br /> the scheduled payment date of the past due interest(which shall be 15 days after the Special Record <br /> Date)shall be sent at least five business days prior to the Special Record Date by United States mail, <br /> first-class postage prepaid, to the address of each owner of a Bond appearing on the Registration <br /> Books at the close of business on the last business day next preceding the date of mailing of such <br /> notice. <br /> DURING ANY PERIOD in which ownership of the Bonds is determined only by a book <br /> entry at a securities depository for the Bonds,if fewer than all of the Bonds of the same maturity and <br /> bearing the same interest rate are to be redeemed,the particular Bonds of such maturity and bearing <br /> such interest rate shall be selected in accordance with the arrangements between the City and the <br /> securities depository. <br /> [FORM OF FIRST PARAGRAPHS <br /> OF PREMIUM COMPOUND INTEREST BOND] <br /> NO. PC- MATURITY <br /> AMOUNT <br /> S <br /> INTEREST RATE ISSUANCE DATE DATE OF BONDS MATURITY DATE <br /> REGISTERED OWNER: <br /> MATURITY AMOUNT: <br /> ON THE MATURITY DATE SPECIFIED ABOVE,CITY OF SAN MARCOS,TEXAS <br /> (the "City"), being a political subdivision and municipal corporation of the State of Texas, hereby <br /> promises to pay to the Registered Owner set forth above,or registered assigns(hereinafter called the <br /> "Registered Owner")the Maturity Amount set forth above,representing the principal amount hereof <br /> and accrued and compounded interest hereon. Interest shall accrue on the principal amount hereof <br /> from the Issuance Date at the interest rate per annum specified above, calculated on the basis of a <br /> 360 day year comprised of twelve 30 day months, compounded semiannually on 'and <br /> *of each year commencing ,20 For convenience of reference a table <br /> 'To be completed as determined by the Pricing Officer in the Pricing Certificate. To the extent that the Pricing Certificate relating to the Bonds is <br /> inconsistent with any provisions in the Form of Bond or contains information to complete missing information in this Form of bond,the language in the <br /> Pricing Certificate shall be used in the executed Bonds. <br /> 11 <br /> s,"marcosoamia Ordina.aro <br />