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As provided in the Ordinance, and subject to certain limitations therein set forth, this <br />Certificate is transferable upon surrender of this Certificate for transfer at the Designated <br />Payment/Transfer Office, with such endorsement or other evidence of transfer as is acceptable to the <br />Paying Agent/Registrar, and, thereupon, one or more new fully registered Certificates of the same <br />stated maturity, of authorized denominations, bearing the same rate of interest, and for the same <br />aggregate principal amount will be issued to the designated transferee or transferees. <br />Neither the City nor the Paying Agent/Registrar shall be required to transfer or exchange any <br />Certificate called for redemption, in whole or in part, within 45 days of the date fixed for redemption; <br />provided, however, such limitation shall not be applicable to an exchange by the Owner of the <br />uncalled balance of a Certificate. <br />The City, the Paying Agent/Registrar, and any other person may treat the person in whose <br />name this Certificate is registered as the owner hereof for the purpose of receiving payment as herein <br />provided (except interest shall be paid to the person in whose name this Certificate is registered on <br />the Record Date or Special Record Date, as applicable) and for all other purposes, whether or not this <br />Certificate be overdue, and neither the City nor the Paying Agent/Registrar shall be affected by notice <br />to the contrary. <br />IT IS HEREBY CERTIFIED AND RECITED that the issuance of this Certificate and the <br />series of which it is a part is duly authorized by law; that all acts, conditions and things required to be <br />done precedent to and in the issuance of the Certificates have been properly done and performed and <br />have happened in regular and due time, form and manner, as required by law; and that the total <br />indebtedness of the City, including the Certificates, does not exceed any constitutional or statutory <br />limitation. <br />IN WITNESS WHEREOF, this Certificate has been duly executed on behalf of the City, <br />under its official seal, in accordance with law. <br />City Clerk, City of San Marcos, Texas Mayor, City of San Marcos, Texas <br />[CITY SEAL] <br />(b) [Form of Certificate of Paying Agent/Registrar] <br />CERTIFICATE OF PAYING AGENT/REGISTRAR <br />This is one of the Certificates referred to in the within mentioned Ordinance. The series of <br />Certificates of which this Certificate is a part was originally issued as one Initial Certificate which <br />was approved by the Attorney General of the State of Texas and registered by the Comptroller of <br />Public Accounts of the State of Texas. <br />REGIONS BANK, Houston, Texas, <br />as Paying Agent/Registrar <br />21 <br />San Marcos CIRCO 2019: Ordinance <br />