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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"Public Improvements" mean the improvements permitted by the PID Act and designed, constructed, and installed in accordance with the Service and Assessment Plan for which Assessments are levied against the Assessed Property that received a special benefit from such improvement and depicted in Appendix D to the Service and Assessment Plan. "Purchaser" means the initial purchaser of the Bonds. "Rebatable Arbitrage" means rebatable arbitrage as defined in Section 1.148-3 of the Treasury Regulations. "Rebate Fund" means that fund established pursuant to Section 6.1 and administered pursuant to Section 6.8. "Record Date" means the close of business on the calendar day of the month next preceding an Interest Payment Date. "Redemption Fund" means that fund established pursuant to Section 6.1 and administered pursuant to Section 6.6. "Redemption Price" means, when used with respect to any Bond or portion thereof, the principal amount of such Bond or such portion thereof plus the applicable premium, if any, plus accrued and unpaid interest on such Bond to the date fixed for redemption payable upon redemption thereof pursuant to this Indenture. "Redemption Waiver Agreement" means the Agreement Regarding Conveyance of Right of Redemption and Waiver of Agricultural Valuation - Trace PID by and between the City, Trustee and the Developer, dated as of January , 2019, as may be amended and supplemented from time to time. "Refunding Bonds" means bonds issued to refund all or any portion of the Outstanding Bonds and secured by a parity lien with the Outstanding Bonds on the Trust Estate, as more specifically described in the indenture authorizing such Refunding Bonds. "Register" means the register specified in Article III of this Indenture. "Reimbursement Agreement" means the Amended and Restated Trace Public Improvement District Reimbursement Agreement by and between the City and the Developer, effective as of September 18, 2018, as may be further amended and supplemented from time to time. "Reimbursement Fund" means that fund established pursuant to Section 6.1 and administered pursuant to Section 6.12 herein. "Reserve Account Requirement" means the least of: (i) Maximum Annual Debt Service on the Bonds Similarly Secured as of the date of issuance, (ii) 125% of average Annual Debt Service on the Bonds Similarly Secured as of the date of issuance, and (iii) 10% of the proceeds 13