Ord 2020-039/authorizing the issuance of City of San Marcos, Texas General Obligation Refunding Bonds in the amount not to exceed $120,000,000 in one year or more series; approving an official statement, a paying agent/registrar agreement, a bond purchase

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Agent/Registrar's Authentication Certificate, the form of Assignment, and the form of Registration Certificate of the Comptroller of Public Accounts of the State of Texas to be attached to the Bonds initially issued and delivered pursuant to this Ordinance shall be, respectively, substantially as follows, with such appropriate variations, omissions, or insertions as are permitted or required by this Ordinance. FORM OF BONDS (All blanks and any ppropriate or necessary insertions or deletions, to be completed as determined by the Pricing Officer in the Pricing Certificate) R- UNITED STATES OF AMERICA PRINCIPAL STATE OF TEXAS AMOUNT CITY OF SAN MARCOS, TEXAS $ GENERAL OBLIGATION REFUNDING BOND, SERIES 20* [FORM OF FIRST PARAGRAPHS OF CURRENT INTEREST BONDS] INTEREST RATE MATURITY DATE DATE OF BOND CUSIP NO. REGISTERED OWNER: PRINCIPAL AMOUNT: ON THE MATURITY DATE specified above, the CITY OF SAN MARCOS, TEXAS (the "Issuer"), being a political subdivision and municipal corporation of the State of Texas, hereby promises to pay to the Registered Owner specified above, or registered assigns (hereinafter called the "Registered Owner"), the Principal Amount specified above, and to pay interest thereon (calculated on the basis of a 360 -day year of twelve 30 -day months) from * at the Interest Rate per annum specified above, payable on *, and semiannually on each * and * thereafter to the Maturity Date specified above, or the date of redemption prior to maturity; except that if this Bond is required to be authenticated and the date of its authentication is later than the first Record Date (hereinafter defined), such Principal Amount shall bear interest from the interest payment date next preceding the date of authentication, unless such date of authentication is after any Record Date but on or before the next following interest payment date, in which case such principal amount shall bear interest from such next following interest payment date; provided, however, that if on the date of * To be completed as determined by the Pricing Officer in the Pricing Certificate. To the extent that the Pricing Certificate relating to the Bonds is inconsistent with any provisions in the Form of Bond or contains information to complete missing information in this Form of Bond, the language in the Pricing Certificate shall be used in the executed Bonds. 10