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IF THE DATE for the payment of the principal of or interest on this Certificate shall be
<br /> a Saturday, Sunday, a legal holiday or a day on which banking institutions in the city where the
<br /> principal corporate trust office of the Paying Agent/Registrar is located are authorized by law or
<br /> executive order to close, then the date for such payment shall be the next succeeding day which
<br /> is not such a Saturday, Sunday, legal holiday or day on which banking institutions are authorized
<br /> to close; and payment on such date shall have the same force and effect as if made on the
<br /> original date payment was due.
<br /> THIS CERTIFICATE is dated May 8, 2024, authorized in accordance with the
<br /> Constitution and laws of the State of Texas in the principal amount of $31,100,000, for
<br /> improving, constructing, equipping, acquiring, or designing the city's: (1) water and waste water
<br /> system, including technology improvements; (2) streets; (3) sidewalks; (4) public safety
<br /> facilities, including fire station improvements; (5) stormwater management for flood control and
<br /> drainage; (6) electric utility system; and (7) payment of professional services in connection
<br /> therewith including legal, engineering, architectural and fiscal fees and the costs of issuing the
<br /> Certificates.
<br /> ON AUGUST 15,2033, or on any date thereafter, the Certificates of this Series maturing
<br /> on and after August 15, 2034, may be redeemed prior to their scheduled maturities, at the option
<br /> of the City, with funds derived from any available and lawful source, at par plus accrued interest
<br /> to the date fixed for redemption as a whole, or in part, and, if in part, the particular maturities to
<br /> be redeemed shall be selected and designated by the City and if less than all of a maturity is to be
<br /> redeemed, the Paying Agent/Registrar shall determine by lot the Certificates, or a portion
<br /> thereof, within such maturity to be redeemed (provided that a portion of a Certificate may be
<br /> redeemed only in an integral multiple of$5,000).
<br /> WITH RESPECT TO any optional redemption of the Certificates, unless certain
<br /> prerequisites to such redemption required by the Ordinance have been met and moneys sufficient
<br /> to pay the principal of and premium, if any, and interest on the Certificates to be redeemed shall
<br /> have been received by the Paying Agent/Registrar prior to the giving of such notice of
<br /> redemption, such notice shall state that said redemption may, at the option of the City, be
<br /> conditional upon the satisfaction of such prerequisites and receipt of such moneys by the Paying
<br /> Agent/Registrar on or prior to the date fixed for such redemption, or upon any prerequisite set
<br /> forth in such notice of redemption. If a conditional notice of redemption is given and such
<br /> prerequisites to the redemption and sufficient moneys are not received, such notice shall be of no
<br /> force and effect, the City shall not redeem such Certificates and the Paying Agent/Registrar shall
<br /> give notice, in the manner in which the notice of redemption was given, to the effect that the
<br /> Certificates have not been redeemed.
<br /> NO LESS THAN 30 days prior to the date fixed for any such redemption, unless the
<br /> Purchaser (as defined in the Ordinance) is the sole Registered Owner of all of the outstanding
<br /> principal amount of the Certificates, the City shall cause the Paying Agent/Registrar to send
<br /> notice by United States mail, first-class postage prepaid to the Registered Owner of each
<br /> Certificate to be redeemed at its address as it appeared on the Registration Books of the Paying
<br /> Agent/Registrar at the close of business on the business day next preceding the date of mailing
<br /> such notice and to major securities depositories, national bond rating agencies and bond
<br /> SAN MARCOS\CTRCO2024: Ordinance
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