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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of (i) legal counsel, engineers, accountants, financial advisors, investment bankers or other consultants and advisors, (ii) creating and organizing the PID and preparing the Assessment Roll, (iii) computing, levying, collecting and transmitting the Assessments or the Annual Installments thereof, (iv) maintaining the record of installments, payments and reallocations and/or cancellations of the Assessments, (v) issuing, paying and redeeming the PID Bonds, (vi) investing or depositing the Assessments or other monies, (vii) complying with the PID Act with respect to the PID Bonds, (viii) paying the paying agent/registrar's and trustee's fees and expenses (including the fees and expenses of its legal counsel) related to the PID Bonds, and (ix) administering the construction of the Public Improvements. "Annual Installment" means, with respect to each Parcel, each annual payment of: (i) the Assessment (including the principal of and interest on), as shown on the Assessment Roll attached hereto as Appendix A, as applicable, and calculated as provided in Section VI, (ii) Annual Collection Costs, and (iii) the Additional Interest. "Annual Service Plan Update" means any update to this SAP. "Assessed Property" or "Assessed Properties" means property on which Assessments have been levied as shown on the Assessment Roll (as the same may be updated each year by an Annual Service Plan Update) and which includes any and all Parcels within the PID other than Non -Benefited Property and the Elementary School Site. "Assessment(s)" means the assessments levied against Assessed Property in the PID, as provided for in the applicable Assessment Ordinance, including the Initial Assessments, the Additional Special Assessments, and any supplemental assessments or reallocation of assessments levied in accordance with Sections 372.019 and 372.020 of the PID Act. "Assessment Ordinance" means each ordinance adopted by the City Council levying the Assessments, including Ordinance 2016-42 levying the Initial Assessments, and Ordinance 2018-38, as amended and restated by Ordinance 2018-51, levying the Additional Assessments, and any future ordinance levying Assessments. "Assessment Roll" means the Assessment Roil included in this SAP as Appendix A, which may be updated, modified or amended from time to time in accordance with the procedures set forth herein and in the PID Act, including updates prepared in connection with the issuance of PID Bonds or in connection with any Annual Service Plan Update. "Bond Issuance Costs" mean the costs associated with issuing PID Bonds, including but not limited to attorney fees, financial advisory fees, consultant fees, appraisal fees, printing costs, publication costs, City costs, capitalized interest, reserve fund requirements, first year Annual Collection Costs, underwriter's discount, fees charged by the Texas Attorney General, and any other cost or expense directly associated with the issuance of PID Bonds. "City" means the City of San Marcos, Texas. "City Council" means the City Council of City of San Marcos, Texas.