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through the delivery date of the Bonds. The foregoing verification is made solely to comply with <br /> Section 2274.002, Texas Government Code, as amended, to the extent Section 2274.002, Texas <br /> Government Code does not contravene applicable Texas or federal law. As used in the foregoing <br /> verification, "boycott energy companies" shall mean, without an ordinary business purpose, <br /> refusing to deal with, terminating business activities with, or otherwise taking any action that is <br /> intended to penalize, inflict economic harm on, or limit commercial relations with a company <br /> because the company (A) engages in the exploration, production, utilization, transportation, sale, <br /> or manufacturing of fossil fuel-based energy and does not commit or pledge to meet <br /> environmental standards beyond applicable federal and state law; or (B) does business with a <br /> company described by (A) above. The Paying Agent understands "affiliate" to mean any entity <br /> that controls, is controlled by, or is under common control with the Paying Agent within the <br /> meaning of SEC Rule 405, 17. C.F.R. § 230.405, and exists to make a profit. <br /> [The remainder of this page is intentionally left blank.] <br /> SAN MARCOS CTRCO 2023(TWDB):PayingAgtRegAgmint <br />