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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and interest on annual installments and on delinquent annual installments of the Additional Assessment; and WHEREAS, at the December 4, 2018 public hearing referenced above, there were no written objections or evidence submitted to the City Cleric in opposition to the Service and Assessment Plan, the allocation of Actual Costs, the Assessment Roll, or the levy of the Additional Assessments; and WHEREAS, the City Council closed the hearing at its meeting on December 12, 2018 and, after considering all written and documentary evidence presented at the hearing, including all written comments and statements filed with the City, at the meeting held on December 12, 2018, approved and accepted the Service and Assessment Plan in conformity with the requirements of the PID Act and adopted the amended and restated Additional Assessment Ordinance, which approved the Assessment Roll and levied the Additional Assessments; and WHEREAS, the Initial Assessments and Additional Assessments are collectively referred to herein as the "Assessments"; and WHEREAS, the City Council is authorized by the PID Act to issue its revenue bonds payable from the Assessments for the purpose of (i) paying the Actual Costs, (ii) funding a reserve fund for payment of principal and interest on the Bonds and (iii) for funding other funds as provided in Section 6.2; and WHEREAS, the City Council now desires to issue its revenue bonds, in accordance with the PID Act, such bonds to be entitled "City of San Marcos, Texas, Special Assessment Revenue Bonds, Series 2019 (Trace Public Improvement District)" (the "Bonds"), such Bonds being payable solely from the Assessments and other funds pledged under this Indenture to the payment of the Bonds and for the purposes set forth in this preamble; and WHEREAS, the Trustee has agreed to accept the trusts herein created upon the terms set forth in this Indenture; NOW, THEREFORE, the City, in consideration of the foregoing premises and acceptance by the Trustee of the trusts herein created, of the purchase and acceptance of the Bonds by the Owners thereof, and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, does hereby GRANT, CONVEY, PLEDGE, TRANSFER, ASSIGN, and DELIVER to the Trustee for the benefit of the Owners, a security interest in all of the moneys, rights and properties described in the Granting Clauses hereof, as follows (collectively, the "Trust Estate"): FIRST GRANTING CLAUSE The Pledged Revenues, as herein defined, including all moneys and investments held in the Pledged Funds, including any contract or any evidence of indebtedness related thereto or other rights of the City to receive any of such moneys or investments, whether now existing or hereafter coming into existence, and whether now or hereafter acquired; and 4