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WHEREAS, Chapter 1207, Texas Government Code, as amended ("Chapter 1207") <br />authorizes the City to issue refunding bonds and to deposit the proceeds from the sale thereof <br />together with any other available funds or resources, directly with a place of payment (paying <br />agent) for the Refunded Obligations or with a trust company or commercial bank that does not <br />act as depository for the City, and such deposit, if made before such payment dates, shall <br />constitute the making of firm banking and financial arrangements for the discharge and final <br />payment of the Refunded Obligations; and <br />WHEREAS, Chapter 1207 further authorizes the City to enter into an escrow agreement <br />with a paying agent for the Refunded Obligations or with a trust company or commercial bank <br />that does not act as depository for the City with respect to the safekeeping, investment, <br />reinvestment, administration and disposition of any such deposit, upon such terms and conditions <br />as the City and such escrow agent may agree, provided that such deposits may be invested and <br />reinvested in Defeasance Securities, as defined herein; and <br />WHEREAS, the Escrow Agreement hereinafter authorized, constitutes an agreement of <br />the kind authorized and permitted by Chapter 1207; and <br />WHEREAS, all the Refunded Obligations mature or are subject to redemption prior to <br />maturity within 20 years of the date of the bonds hereinafter authorized: and <br />WHEREAS, the Bonds authorized by this Second Supplement are being issued and <br />delivered pursuant to the City Charter and Chapters 1207 and 1371 of the Texas Government <br />Code, as amended, and other applicable laws: and <br />WHEREAS, the City further finds and determines that all terms and conditions for the <br />issuance of the bonds herein authorized as Parity Debt have been or can be met and satisfied; and <br />WHEREAS, the bonds authorized to be issued by this Second Supplement are to be <br />issued and delivered pursuant to the Enabling Act, as hereinafter defined, and other applicable <br />State laws. <br />NOW THEREFORE, BE IT ORDAINED BY THE CITY OF SAN MARCOS, <br />TEXAS THAT: <br />ARTICLE I <br />BONDS ISSUED UNDER ELECTRIC UTILITY SYSTEM <br />REVENUE FINANCING PROGRAM <br />Section 1.01. DEFINITIONS. (a) Definitions. The capitalized terms used herein <br />(except in the FORM OF BONDS set forth in Exhibit "B" hereto) and not otherwise defined <br />shall have the meanings given in the Master Ordinance or in Exhibit "A" to this Second <br />Supplement. The recitals to this Second Supplement and the exhibits hereto are incorporated <br />herein and made a part hereof for all purposes. <br />3 <br />SanMARCOS\EtectricUlitSysRevBonds\2021: 21idtSuppOrdimice <br />