Ord 2018-044/authorizing the issuance of the City of San Marcos Combination Tax and Surplus Revenue Certificates of Obligation, Series 2018

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The Certificates shall be issued in denominations of$5,000 or any integral multiple thereof(an "Authorized Denomination"). Section 3. REDEMPTION. The Certificates are subject to optional redemption as described in the FORM OF CERTIFICATE set forth in Section 6 of this Ordinance. Section 4. INTEREST. That the Certificates scheduled to mature during the years, respectively, set forth below shall bear interest from the date set forth in the FORM OF CERTIFICATE set forth in Section 6 of this Ordinance to their respective dates of maturity or redemption prior to maturity at the rates per annum, as set forth in the following schedule: INTEREST INTEREST YEAR RATE YEAR RATE 2019 0.260% 2029 1.340% 2020 0.430 2030 1.420 2021 0.520 2031 1.480 2022 0.620 2032 1.530 2023 0.720 2033 1.580 2024 0.820 2034 1.630 2025 0.920 2035 1.680 2026 1.030 2036 1.730 2027 1.150 2037 1.780 2028 1.240 2038 1.820 Interest on the Certificates shall be calculated on the basis of a 360-day year consisting of twelve 30-day months. Said interest shall be payable to the registered owner of any such Certificate in the manner provided and on the dates stated in the FORM OF CERTIFICATE set forth in this Ordinance. Section 5. CHARACTERISTICS OF THE CERTIFICATES. Registration, Transfer, Conversion and Exchange,;Authentication. (a) The City shall keep or cause to be kept at the designated office for payment of Regions Bank, Houston, Texas (the "Paying Agent/Registrar") books or records for the registration of the transfer, conversion, and exchange of the Certificates("Registration Books"),and the City hereby appoints the Paying Agent/Registrar as its registrar and transfer agent to keep such books or records and make such registrations of transfers, conversions, and exchanges under such reasonable regulations as the City and Paying Agent/Registrar may prescribe; and the Paying Agent/Registrar shall make such registrations, transfers, conversions, and exchanges as herein provided. The Paying Agent/Registrar shall obtain and record in the Registration Books the address of the Registered Owner of each Certificate to which payments with respect to the Certificates shall be mailed, as herein provided; but it shall be the duty of each Registered Owner to notify the Paying Agent/Registrar in writing of the address to which payments shall be mailed, and such interest payments shall not be mailed unless such notice has been given. To the extent possible and under reasonable circumstances, all transfers of Certificates shall be made within three business days after request and presentation thereof. The City shall have the right to inspect the Registration Books during regular business hours of the Paying Agent/Registrar, but otherwise the Paying Agent/Registrar shall keep the Registration Books confidential and, unless otherwise required by law, shall not permit their inspection by any 3 SAN MARCOS(TWDB)CTRCO 2018:Ordinance