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The terms and provisions of this Bond and the Ordinance shall be construed in accordance with <br />and shall be governed by the laws of the State of Texas. The holder of this Bond is not entitled <br />to demand payment of this Bond out of any money raised by taxation. <br />IN TESTIMONY WHEREOF, the City has caused its seal to be impressed or a <br />facsimile thereof to be printed hereon and this Bond to be executed in the name of and on behalf <br />of the City with the manual or facsimile signatures of its Mayor, and attested by the City Clerk. <br />in <br />CITY OF SAN MARCOS, TEXAS <br />in <br />City Clerk Mayor <br />(SEAL) <br />[INSERTIONS FOR THE INITIAL BOND] <br />The Initial Bond shall be in the form set forth in this exhibit, except that: <br />A. Immediately under the name of the Bond, the headings "INTEREST RATE" and <br />"MATURITY DATE" shall both be completed with the words "As shown below", <br />and the heading "CUSIP NO." shall be deleted. <br />B. The first paragraph of the Bond shall be deleted and the following will be inserted <br />(with all blanks and bracketed items to be completed with information contained in <br />the Pricing Certificate): <br />"The City of San Marcos, Texas (the "City") hereby promises to pay, solely from the <br />sources hereinafter identified and as hereinafter stated, to the Registered Owner named above, or <br />the registered assigns thereof, on *** in each of the years, in the principal <br />installments and bearing interest at the per annum rates set forth in the following schedule: <br />Amount Year Rate <br />(Information from the Pricing Certificate to be inserted) <br />The City promises to pay interest on the unpaid principal amount hereof from the Bond Date <br />specified above at the respective per annum rate of interest specified above computed on the basis <br />of a 360 -day year of twelve 30 -day months; such interest being payable on <br />and of each year, commencing. Principal of this Bond shall <br />be payable to the Registered Owner hereof, upon presentation and surrender, at the principal <br />office of the Paying Agent/Registrar named in the registration certificate appearing hereon, or its <br />***As provided in the Pricing Certificate. To the extent that the Pricing Certificate relating to the Bonds is <br />inconsistent with any provisions in this Form of Bond or contains information to complete missing information in <br />this Form of Bond, the language in the Pricing Certificate shall be used in the executed Bonds. <br />B-5 <br />SanMAROOS\EtectricUtitSysRevBonds\2021: 2116uppOrdmiice <br />