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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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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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8/15/2019 3:27:16 PM
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Ordinances
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2019-03
Date
1/29/2019
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(b) Any such notice, demand, or request may also be transmitted to the appropriate <br />party by telephone and shall be deemed to be properly given or made at the time of such <br />transmission if, and only if, such transmission of notice shall be confirmed in writing and sent as <br />specified above. <br />(c) Any of such addresses may be changed at any time upon written notice of such <br />change given to the other party by the parry effecting the change. Notices and consents given by <br />mail in accordance with this Section shall be deemed to have been given five Business Days after <br />the date of dispatch; notices and consents given by any other means shall be deemed to have <br />been given when received. <br />(d) The Trustee shall mail to each Owner of a Bond notice of (1) any substitution of <br />the Trustee; or (2) the redemption or defeasance of all Bonds Outstanding. <br />Section 15.6. Partial Invalidity. <br />If any Section, paragraph, sentence, clause, or phrase of this Indenture shall for any <br />reason be held illegal or unenforceable, such holding shall not affect the validity of the remaining <br />portions of this Indenture. The City hereby declares that it would have adopted this Indenture and <br />each and every other Section, paragraph, sentence, clause, or phrase hereof and authorized the <br />issue of the Bonds pursuant thereto irrespective of the fact that anyone or more Sections, <br />paragraphs, sentences, clauses, or phrases of this Indenture may be held illegal, invalid, or <br />unenforceable. <br />Section 15.7. Applicable Laws. <br />This Indenture shall be governed by and enforced in accordance with the laws of the <br />State applicable to contracts made and performed in the State. <br />Section 15.8. Payment on Business Day. <br />In any case where the date of the maturity of interest or of principal (and premium, if <br />any) of the Bonds or the date fixed for redemption of any Bonds or the date any action is to be <br />taken pursuant to this Indenture is other than a Business Day, the payment of interest or principal <br />(and premium, if any) or the action need not be made on such date but may be made on the next <br />succeeding day that is a Business Day with the same force and effect as if made on the date <br />required and no interest shall accrue for the period from and after such date. <br />Section 15.9. Counterparts. <br />This Indenture may be executed in counterparts, each of which shall be deemed an <br />original. <br />74 <br />
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