Ord 2021-059/authorizing the issuance of Electric Utility Refunding Bond Series 2021

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of the covenants, conditions, stipulations, promises, agreements, and provisions hereof are intended to be and shall be for and inure to the sole and exclusive benefit of the City, the Owners, and the Paying Agent/Registrar as herein and therein provided. ARTICLE II BOND AUTHORIZATION AND SPECIFICATIONS Section 2.01. AMOUNT, PURPOSE AND DESIGNATION OF THE BONDS. The Bonds in one ore more series designated "CITY OF SAN MARCOS, TEXAS ELECTRIC UTILITY SYSTEM REVENUE REFUNDING BONDS" (the "Bonds") are hereby authorized to be issued pursuant to this Second Supplement in the maximum aggregate principal amount not to exceed $17,000,000 for the purpose of (i) refunding the City's outstanding Electric Utility System Revenue Bonds; and (ii) paying the costs associated with the issuance of each series of the Bonds. One or more series of the Bonds are authorized pursuant to authority conferred by and in conformity with State law, particularly the provisions of the Enabling Act. The Bonds will be in the form of Current Interest Bonds as provided in Section 2.02, the Pricing Certificate and the FORM OF BONDS in Exhibit "B" to this Second Supplement. Section 2.02. DATE, DENOMINATIONS, NUMBERS, MATURITIES AND TERMS OF BONDS. (a) Terms of Bonds. There initially shall be issued, sold and delivered under this Second Supplement fully registered bonds, without interest coupons, which may be in the form of Current Interest Bonds, numbered consecutively from R-1 upward (except the Initial Bond (as defined in Section 2.06 hereof) delivered to the Attorney General of the State of Texas which shall be numbered T-1) payable to the initial registered owner(s) (as designated in subsection (c) of this Section), or to the registered assignee or assignees of said Bonds or any portion or portions thereof (in each case, the "Registered Owner" or the "Owner"), in the denomination of $5,000 or any integral multiple thereof, maturing not later than November 1, 2033, serially or otherwise on the dates, in the years and in the principal amounts, respectively, and dated, all as set forth in the Pricing Certificate pursuant to subsection (b) of this Section. The Pricing Certificate is hereby incorporated in and made a part of this Second Supplement. The authority for the City Official to executed and deliver each Pricing Certificate for a series of Bond shall expire at 5:00 p.m. CDST on August 3, 2022. Bonds priced on or before August 3, 2022 may be delivered to the initial purchaser after such date. (b) Selling and Delivering One or More Series of the Bonds. As authorized by Chapter 1207.007, Texas Government Code, as amended, the Pricing Officer is hereby authorized to act on behalf of the City in selling and delivering one or more Series of the Bonds, determining which of the Refunded Obligations shall be refunded and constitute Refunded Obligations under this Second Supplement and carrying out the other procedures specified in this Second Supplement, including determining the date of the Bonds, any additional or different designation or title by which the Bonds shall be known, whether the Bonds are sold as Taxable Bonds or Tax -Exempt Bonds, the price at which a Series of Bonds will be sold, the years in which the Bonds will mature, the principal amount to mature in each of such years, the aggregate principal amount of Current Interest Bonds and Premium Compound Interest Bonds, the rate or 5 SanMARCOS\EtectricUlitSysRevBonds\2021: 21idtSuppOrdimnce