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"THE CITY OF SAN MARCOS,TEXAS(the"City"),being a political subdivision of the <br /> State of Texas,hereby promises to pay to the Registered Owner set forth above,or registered assigns <br /> (hereinafter called the"Registered Owner")the Payment at Maturity on `in each of the <br /> years and in installments of the respective Maturity Amounts set forth in the following schedule: <br /> Principal Maturity Date Interest <br /> Amount ( ) Rate <br /> (Information for the Premium Compound Interest Bonds from the <br /> Pricing Certificate to be inserted) <br /> The amount shown above as the respective Maturity Amounts represent 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,compounded semiannually on <br /> and * of each year commencing , 20 * For convenience of <br /> reference, a table appears on the back of this Bond showing the "Compounded Amount" of the <br /> original principal amount plus initial premium, if any, per $5,000 Maturity Amount compounded <br /> semiannually at the yield shown on such table." <br /> C. the Initial Premium Compound Interest Bond shall be numbered "TPC-l." <br /> Section 7. TAX LEVY. A special Interest and Sinking Fund(the "Interest and Sinking <br /> Fund")is hereby created solely for the benefit of the Bonds,and the Interest and Sinking Fund shall <br /> be established and maintained by the City at an official depository bank of the City. The Interest and <br /> Sinking Fund shall be kept separate and apart from all other funds and accounts of the City,and shall <br /> be used only for paying the interest on and principal of the Bonds. All ad valorem taxes levied and <br /> collected for and on account of the Bonds shall be deposited,as collected,to the credit of the Interest <br /> and Sinking Fund. During each year while any of the Bonds or interest thereon are outstanding and <br /> unpaid,the governing body of the City shall compute and ascertain a rate and amount of ad valorem <br /> tax which will be sufficient to raise and produce the money required to pay the interest on the Bonds <br /> as such interest comes due,and to provide and maintain a sinking fund adequate to pay the principal <br /> of the Bonds as such principal matures(but never less than 2%of the original principal amount of <br /> the Bonds as a sinking fund each year);and the tax shall be based on the latest approved tax rolls of <br /> the City,with full allowance being made for tax delinquencies and the cost of tax collection. The <br /> rate and amount of ad valorem tax is hereby levied, and is hereby ordered to be levied, against all <br /> taxable property in the City for each year while any of the Bonds or interest thereon are outstanding <br /> and unpaid;and the tax shall be assessed and collected each such year and deposited to the credit of <br /> the Interest and Sinking Fund. The ad valorem taxes sufficient to provide for the payment of the <br /> interest on and principal of the Bonds, as such interest comes due and such principal matures, are <br /> hereby pledged for such payment,within the limit prescribed by law. Accrued interest on the Bonds <br /> shall be deposited in the Interest and Sinking Fund. <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 /> 19 <br /> SanMucos\G0B201 8 Ordmancco <br />