Ord 2019-003/authorizing the issuance of the City of San Marcos Special Assessment Revenue Bonds, Series 2018 (Trace Public Improvement District); approving aand authorizing an Indenture of Trust, a Bond Purchase Agreement, an Offering Memorandum, a

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Section5.4. Legal Opinion................................................................................................... 36 ARTICLE VI FUNDS AND ACCOUNTS................................................................................ 36 Section 6.1. Establishment of Funds and Accounts.............................................................. 36 Section 6.2. Initial Deposits to Funds and Accounts............................................................ 38 Section 6.3. Pledged Revenue Fund..................................................................................... 38 Section6.4. Bond Fund......................................................................................................... 39 Section6.5. Project Fund...................................................................................................... 40 Section6.6. Redemption Fund.............................................................................................. 41 Section6.7. Reserve Fund.................................................................................................... 41 Section 6.8. Rebate Fund: Rebatable Arbitrage.................................................................... 43 Section 6.9. Administrative Fund......................................................................................... 44 Section 6.10. Developer Property Tax Reserve Fund........................................................... 454 Section 6.11. Investment of Funds.......................................................................................... 45 Section 6.12. Security of Funds............................................................................................ 456 Section 6.13. Reimbursement Fund...................................................................................... 457 ARTICLE VII COVENANTS.................................................................................................... 47 Section 7.1. Confirmation of Assessments........................................................................... 47 Section 7.2. Collection and Enforcement of Assessments.................................................... 47 Section 7.3. Against Encumbrances...................................................................................... 48 Section 7.4. Records, Accounts, Accounting Reports.......................................................... 48 Section 7.5. Covenants Regarding Tax Exemption of Interest on Bonds ............................. 48 ARTICLE VIII LIABILITY OF CITY........................................................................................ 51 Section 8.1. Liability of City................................................................................................. 51 ARTICLE IX THE TRUSTEE.................................................................................................. 53 Section 9.1. Acceptance of Trust; Trustee as Registrar and Paying Agent .......................... 53 Section 9.2. Trustee Entitled to Indemnity........................................................................... 53 Section 9.3. Responsibilities of the Trustee.......................................................................... 53 Section 9.4. Property Held in Trust.................................................................................... 544 Section 9.5. Trustee Protected in Relying on Certain Documents ........................................ 54 Section 9.6. Compensation................................................................................................... 55 Section 9.7. Permitted Acts................................................................................................... 56 Section 9.8. Resignation of Trustee...................................................................................... 56 Section 9.9. Removal of Trustee........................................................................................... 56 Section 9.10. Successor Trustee.............................................................................................. 56 Section 9.11. Transfer of Rights and Property to Successor Trustee ...................................... 57 Section 9.12. Merger, Conversion or Consolidation of Trustee ............................................. 58 Section 9.13. Trustee To File Continuation Statements......................................................... 58 Section 9.14. Offering Documentation................................................................................... 58 Section 9.15. Expenditure of Funds and Risk......................................................................... 58 Section 9.16. Environmental Hazards..................................................................................... 59 Section 9.17. Accounts, Periodic Reports and Certificates.................................................... 59 Section 9.18. Construction of Indenture................................................................................. 59 ii