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ARTICLE I <br />DEFINITIONS AND OTHER PRELIMINARY MATTERS <br />Section 1.01. Definitions. <br />Unless otherwise expressly provided or unless the context clearly requires otherwise, in this <br />Ordinance the following terms shall have the meanings specified below: <br />"Certificate" means any of the Certificates. <br />"Certificates" means the City's certificates of obligation entitled "City of San Marcos, Texas, <br />Combination Tax and Revenue Certificates of Obligation, Series 2019" authorized to be issued by <br />Section 3.01 of this Ordinance. <br />"Closing Date" means the date ofthe initial delivery of and payment for the Certificates, which <br />is anticipated to be on or about June 12, 2019. <br />"Code" means the Internal Revenue Code of 1986, as amended, including applicable <br />regulations, published rulings and court decisions relating thereto. <br />"Construction Fund" means the construction fund established by Section 8.01(a) of this <br />Ordinance. <br />"Dated Date" means the date designated as the date of the Certificates in Section 3.02(a) of <br />this Ordinance. <br />"Defeasance Securities" means (i) Federal Securities, (ii) noncallable obligations of an agency <br />or instrumentality of the United States of America, including obligations that are unconditionally <br />guaranteed or insured by the agency or instrumentality and that, on the date the City Council adopts <br />or approves proceedings authorizing the issuance of refunding bonds or otherwise provide for the <br />funding of an escrow to effect the defeasance of the Certificates are rated as to investment quality by <br />a nationally recognized investment rating firm not less than "AAA" or its equivalent, (iii) noncallable <br />obligations of a state or an agency or a county, municipality, or other political subdivision of a state <br />that have been refunded and that, on the date the City adopts or approves proceedings authorizing the <br />issuance of refunding bonds or otherwise provide for the funding of an escrow to effect the defeasance <br />of the Certificates, are rated as to investment quality by a nationally recognized investment rating firm <br />no less than "AAA" or its equivalent and (iv) any other then authorized securities or obligations under <br />applicable Texas law that may be used to defease obligations such as the Certificates. <br />"Designated Payment/Transfer Office" means (i) with respect to the initial Paying <br />Agent/Registrar named herein, its corporate trust office in Houston, Texas, and (ii) with respect to <br />any successor Paying Agent/Registrar, the office of such successor designated and located as may be <br />agreed upon by the City and such successor. <br />2 <br />San Marcos CIRCO 2019: Ordinance <br />