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a Stated Maturity selected at random and by lot by the Paying Agent/Registrar) at the redemption <br />price of par, together with accrued interest to the date of redemption, and upon thirty (30) days <br />prior written notice being given by United States mail, first-class postage prepaid, to Holders of <br />the Bonds to be redeemed, and subject to the terms and provisions relating thereto contained in <br />the Resolution. If this Bond is subject to redemption prior to Stated Maturity and in an Authorized <br />Denomination thereof may be redeemed, and, if less than all of the principal sum hereof is to <br />be redeemed, there shall be issued, without charge therefor, to the Holder hereof, upon the <br />surrender of this Bond to the Paying Agent/Registrar at its corporate trust office, a new Bond or <br />Bonds of like Stated Maturity and interest rate in any authorized denominations provided in the <br />Resolution for the then unredeemed balance of the principal sum hereof. <br />If this Bond (or any portion of the principal sum hereof) shall have been duly called for <br />redemption and notice of such redemption duly given, then upon such redemption date this Bond <br />(or the portion of the principal sum hereof to be redeemed) shall become due and payable, and, if <br />money for the payment of the redemption price and the interest accrued on the principal amount <br />to be redeemed to the date of redemption is held for the purpose of such payment by the Paying <br />Agent/Registrar, interest shall cease to accrue and be payable hereon from and after the <br />redemption date on the principal amount hereof to be redeemed. If this Bond is called for <br />redemption, in whole or in part, the Authority or the Paying Agent/Registrar shall not be required <br />to issue, transfer, or exchange this Bond within forty-five (45) days of the date fixed for <br />redemption; provided, however, such limitation of transfer shall not be applicable to an exchange <br />by the Holder of the unredeemed balance hereof in the event of its redemption in part; and <br />(v) the Bonds have been approved for issuance by the Texas Water Development Board <br />and will be approved by the Texas Attorney General <br />EXECUTED AND DELIVERED THIS 15th day of October, 2019. <br />CITY OF SAN MARCOS, TEXAS <br />Title: <br />ARWA\2019C: ResApprovingResSanMarcos B-2 <br />