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when due. All Certificates of this Series are issuable solely as fully registered certificates,without
<br /> interest coupons, in any integral multiple of$5,000 (an "Authorized Denomination").
<br /> IF THE DATE for the payment on this Certificate shall be a Saturday, Sunday, a legal
<br /> holiday, or a day on which banking institutions in the city where the Designated Trust Office of
<br /> the Paying Agent/Registrar is located are authorized by law or executive order to close, then the
<br /> date for such payment shall be the next succeeding day which is not such a Saturday, Sunday, legal
<br /> holiday, or day on which banking institutions are authorized to close; and payment on such date
<br /> shall have the same force and effect as if made on the original date payment was due.
<br /> THIS CERTIFICATE is one of a Series of Certificates dated ,2023, authorized
<br /> in accordance with the Constitution and laws of the State of Texas in the principal amount of
<br /> $1,120,000, for the purpose of paying contractual obligations incurred in connection with: (1)
<br /> planning,acquisition,design and construction of certain drainage and flood control improvements;
<br /> and (2) the payment of professional services in connection therewith including legal, fiscal and
<br /> engineering fees and the costs of issuing the certificates of obligation and other matters related
<br /> thereto.
<br /> ON ANY DATE, the Certificates of this Series may be redeemed prior to their scheduled
<br /> maturities, at the option of the City, in inverse order of maturity with funds derived from any
<br /> available and lawful source, at par plus accrued interest , if any, to the date fixed for redemption
<br /> as a whole, or in part, and, if in part,the particular maturities to be redeemed shall be selected and
<br /> designated by the City and if less than all of a maturity is to be redeemed, the Paying
<br /> Agent/Registrar shall determine by lot the Certificates, or a portion thereof, within such maturity
<br /> to be redeemed (provided that a portion of a Certificate may be redeemed only in an integral
<br /> multiple of$5,000).
<br /> AS PROVIDED IN THE ORDINANCE, this Certificate may, at the request of the
<br /> registered owner or the assignee or assignees hereof, be assigned, transferred, and exchanged for
<br /> a like aggregate principal amount of fully registered certificates,without interest coupons,payable
<br /> to the appropriate registered owner, assignee, or assignees, as the case may be, having the same
<br /> maturity date, and bearing interest at the same rate, in any Authorized Denomination as requested
<br /> in writing by the appropriate registered owner, assignee, or assignees, as the case may be, upon
<br /> surrender of this Certificate to the Paying Agent/Registrar at its Designated Trust Office for
<br /> cancellation, all in accordance with the form and procedures set forth in the Ordinance. Among
<br /> other requirements for such assignment and transfer, this Certificate must be presented and
<br /> surrendered to the Paying Agent/Registrar at its Designated Trust Office, together with proper
<br /> instruments of assignment, in form and with guarantee of signatures satisfactory to the Paying
<br /> Agent/Registrar, evidencing assignment of this Certificate or any portion or portions hereof in any
<br /> Authorized Denomination to the assignee or assignees in whose name or names this Certificate or
<br /> any such portion or portions hereof is or are to be transferred and registered. The form of
<br /> Assignment printed or endorsed on this Certificate may be executed by the registered owner to
<br /> evidence the assignment hereof, but such method is not exclusive, and other instruments of
<br /> assignment satisfactory to the Paying Agent/Registrar may be used to evidence the assignment of
<br /> this Certificate or any portion or portions hereof from time to time by the registered owner. The
<br /> foregoing notwithstanding, in the case of the exchange of an assigned and transferred Certificate
<br /> or Certificates or any portion or portions thereof, such fees and charges of the Paying
<br /> 9
<br /> SAN MARCOS(TWDB)CTRCO 2023&2023A:Ordinance($1,120,000)
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