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signing the Approval Certificate attached hereto as Exhibit "B" reflecting the final interest rates <br /> and terms of the Bonds, provided that the true interest cost on the Bonds shall not exceed 5.00% <br /> per annum; and <br /> WHEREAS, the Bonds are being sold to the Texas Water Development Board and there <br /> are no sale and offering documents, as defined in the Contract, to be presented to the City for <br /> review and approval; however, a private placement memorandum has been submitted to the City <br /> for review and approval; and <br /> WHEREAS, it is hereby further officially found and determined that public notice of the <br /> time, place, and purpose of this meeting was given, all as required by Texas Government Code, <br /> Chapter 551. <br /> NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br /> OF SAN MARCOS, TEXAS: <br /> SECTION 1. RECITALS. The recitals set forth in the preamble hereof are incorporated <br /> herein and shall have the same force and effect as if set forth in this Section. Capitalized terms <br /> used herein shall have the meaning assigned in the preamble hereof, the Contract or the Bond <br /> Resolution, unless otherwise defined. <br /> SECTION 2. BOND RESOLUTION. The Bond Resolution in substantially the form <br /> attached hereto as Exhibit"A" is hereby approved with such completions and changes as approved <br /> by an Authorized Representative, as provided herein. <br /> SECTION 3. CERTIFICATES. The City's Authorized Representative (as defined <br /> herein) is hereby authorized to complete and sign the Approval Certificate attached hereto as <br /> Exhibit "B"reflecting the final interest rates and terms of the Bonds,provided that the true interest <br /> cost on the Bonds shall not exceed 5.00%per annum. The Mayor, City Clerk, City Manager and <br /> any Assistant City Manager, as an Authorized Representative, are each authorized to sign all <br /> certificates and are hereby authorized and directed to do any and all things necessary and/or <br /> convenient to carry out the terms of this Resolution and the issuance of the Bonds as requested by <br /> the City, <br /> SECTION 4. ANNUAL AUDIT. Within 180 days after the City's fiscal year end, the <br /> City shall provide the Authority a copy of its annual audit. <br /> SECTION 5. IMMEDIATE EFFECT. This Resolution shall take effect immediately <br /> from and after its adoption in accordance with the law. For avoidance of doubt, the approval of <br /> this Resolution and the completion and execution of the Approval Certificate by the Authorized <br /> Representative (as set forth more fully hereinabove), complies with and effectuates the City's <br /> approval rights under Section 3.1(c)of the Contract without the need for further action by the City <br /> Council. <br /> 2 <br /> ARWA I Sao Marcos 2024C I Res Approving Res <br />