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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be generated by the City, its contractors, consultants, agents, officials and employees as a result of activities related to the City. 0) Remedies. The Texas Water Development Board may exercise all remedies available to it in law or equity, and any provision of the Certificates that restricts or limits the Texas Water Development Board's full exercise of these remedies shall be of no force and effect. (k) Source Series Bonds. The City will not acquire any of the Texas Water Development Board's Source Series Bonds in an amount related to the amount of the Certificates to be acquired from the City by the Texas Water Development Board. (1) Contract Requirement. The City will abide by all applicable construction contract requirements related to the use of iron and steel products produced in the United States,as required by Texas Government Code,Chapter 2252, Subchapter G and related State Revolving Fund Policy Guidelines. (m) Approval of Agreement. The Grant Agreement between the City and the Texas Water Development Board associated with Texas Water Development Board Commitment Number G1001478 setting out the terms and conditions of the financial assistance between the Texas Water Development Board and the City is approved and the City's Designated Representative, which shall be the City's Director of Engineering or Interim Director of Engineering, is authorized to execute the agreement on behalf of the City. Section 17. CONTINUING DISCLOSURE OBLIGATION. (a) Definitions. That as used in this Ordinance, the following terms have the meanings ascribed to such terms below: "MSRB" means the Municipal Securities Rulemaking Board. "Rule" means SEC Rule 15c2-12, as amended from time to time. "SEC" means the United States Securities and Exchange Commission. (b) Annual Reports. The City shall provide annually to the MSRB, in an electronic format as prescribed by the MSRB, (1)within six months after the end of any fiscal year, financial information and operating data with respect to the City including financial statements of the City, if audited financial statements of the City are then available, and general financial and operating information included in the application to the Texas Water Development Board for financial assistance and (2) if not provided as part of such financial information and operating data, audited financial statements of the City when and if available. Any financial statements to be so provided shall be(1)prepared in accordance with the accounting principles described in Exhibit "C"hereto, Cor such other accounting principles as the City may be required to ernploy from time to time pursuant to state law or regulation, and (2) audited, if the City commissions an audit of such statements and the audit is completed within the period during which they must be provided. If the audit of such financial statements is not complete within 12 months after any such fiscal year end, then the City shall provide unaudited financial statements within such 12 month period, and 22 SAN MARCOS(TWD13)CTRCO 2023&2023A:Ordinance($1,120,000)