Ord 2023-042 authorizing the issuance and sale of an amount not to exceed $1,120,000.00 of Combination Tax and Surplus Revenue Certificates of Obligation, Series 2023

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(a) Annual Audit Reporting. The City shall provide to the Executive Administrator of the Texas Water Development Board, without the necessity of a written request therefor, a copy of the City=s annual audit report, to be submitted without charge, within six months of the close of each City fiscal year. (b) As-Built Plans. The City shall provide to the Texas Water Development Board a full and complete set of"as-built" plans relating to the Project to be financed with the proceeds of the Certificates,promptly upon completion of such Project. (c) Final Accounting. Within 60 days of completion of the Project to be financed with the proceeds of the Certificates,the City shall render a final accounting of the cost of such project to the Texas Water Development Board. If the total cost of such project, as finally completed, is less than originally estimated, so that the proper share of the participation by the Texas Water Development Board in such project is reduced, the City shall return to the Texas Water Development Board the amount of such excess to the nearest multiple of the denomination of the Certificates, whereupon the Texas Water Development Board shall cancel and return to the City a like amount of said Certificates held by the Texas Water Development Board. The Certificates to be canceled and returned shall be chosen in inverse order of maturity. The remainder of any such excess, an amount less than $5,000, shall be deposited into the Interest and Sinking Fund. (d) Covenant to Abide with Rules. The City will abide with all applicable laws of the State of Texas and Rules of the Texas Water Development Board relating to the loan of funds evidenced by the Certificates and the Project for which the Certificates are issued, sold and delivered. (e) Insurance. The City agrees to maintain casualty and other insurance on the System of a kind and in an amount customarily carried by municipal corporations owning and operating similar properties and in an amount sufficient to protect the interests of the TWDB in the Project. (f) Records and Accounts. The City agrees and covenants that it will maintain current, accurate and complete records and accounts regarding the System improvements in accordance with 31 TAC 375.71(a)(2)(G). (g) Environmental Determinations. The City agrees and covenants that it will comply with any special conditions of the Executive Administrator's environmental determination in accordance with 31 TAC 375.71(a)(8). (h) Environmental Expenditures. The City covenants and agrees that none of the proceeds of the Certificates will be expended on costs incurred or to be incurred relating to the sampling, testing, removing or disposing of potentially contaminated soils and/or media at the project site. (i) Indemnification. The City further agrees,to the extent permitted by law and solely from water and wastewater funds provided by the City to indemnify,hold harmless and protect the Texas Water Development Board from any and all claims or causes of action arising from the sampling,analysis,transport,removal and off-site disposition of any contaminated media that may 21 SAN MARCOS(TWDB)CTRCO 2023&2023A:Ordinance($1,120,000)