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Section 3.02. Date, Denomination, Maturities, Numbers and Interest.
<br /> (a) The Certificates shall have the Dated Date of August 25, 2021, shall be in fully
<br />registered form, without coupons, in the denomination of $5,000 or any integral multiple thereof,
<br />and shall be numbered separately from one upward or such other designation acceptable to the City
<br />and the Paying Agent/Registrar.
<br /> (b) The Certificates shall mature on August 15 in the years and in the principal amounts
<br />and interest rates set forth below, interest on each Certificate accruing from the Closing Date or the
<br />most recent Interest Payment Date to which interest has been paid or provided for at the per annum
<br />rates of interest, payable semiannually on February 15 and August 15 of each year until the
<br />principal amount shall have been paid or provision for such payment shall have been made,
<br />commencing February 15, 2022, as follows:
<br />Principal Interest Principal Interest
<br />YearAmountsRateYearAmountsRate
<br />2023 $ 575,000 5.000% 2033 $1,875,000 3.000%
<br />2024 610,000 5.000 2034 1,935,000 3.000
<br />2025 795,000 5.000 2035 1,995,000 2.000
<br />2026 1,155,000 5.000 2036 2,030,000 2.000
<br />2027 1,215,000 5.000 2037 2,075,000 2.000
<br />2028 1,530,000 5.000 **** **** ****
<br />2029 1,605,000 5.000 2039 4,265,000 2.000
<br />2030 1,685,000 4.000 **** **** ****
<br />2031 1,750,000 4.000 2041 4,445,000 2.000
<br />2032 1,820,000 3.000
<br /> Section 3.03. Medium, Method and Place of Payment.
<br /> (a) The principal of, premium, if any, and interest on the Certificates shall be paid in
<br />lawful money of the United States of America as provided in this Section.
<br /> (b) Interest on the Certificates shall be payable to the Owners whose names appear in
<br />the Register at the close of business on the Record Date; provided, however, that in the event of
<br />nonpayment of interest on a scheduled Interest Payment Date, and for 30 days thereafter, a new
<br />record date for such interest payment (a "Special Record Date") will be established by the Paying
<br />Agent/Registrar if and when funds for the payment of such interest have been received from the
<br />City. Notice of the Special Record Date and of the scheduled payment date of the past due interest
<br />(the "Special Payment Date", which shall be at least 15 days after the Special Record Date) shall be
<br />sent at least five business days prior to the Special Record Date by United States mail, first-class
<br />postage prepaid, to the address of each Owner of a Certificate appearing on the books of the Paying
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<br />San Marcos CTRCO 2021B: Ordinance
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