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be for and inure to the sole and exclusive benefit of the City, the Owners, and the Paying
<br /> Agent/Registrar as herein and therein provided.
<br /> ARTICLE 11 BOND AUTHORIZATION AND SPECIFICATIONS
<br /> Section 2.01. AMOUNT, PURPOSE AND DESIGNATION OF THE BONDS. The
<br /> Bonds designated "CITY OF SAN MARCOS, TEXAS WATERWORKS AND
<br /> WASTEWATER SYSTEM REVENUE BONDS, SERIES 2025" (the "Bonds") are hereby
<br /> authorized to be issued pursuant to this First Supplement in the aggregate principal amount of
<br /> $30,025,000 for the purpose of(i)paying costs of acquiring,purchasing, constructing, improving,
<br /> renovating, enlarging or equipping the City's Waterworks and Wastewater System and(ii)paying
<br /> the costs of issuing such Bonds. The Bonds are authorized pursuant to authority conferred by and
<br /> in conformity with State law, particularly the provisions of the Enabling Act.
<br /> The Bonds will be in the form of Current Interest Bonds as provided in Section 2.02 and
<br /> the FORM OF BONDS in Exhibit B to this First Supplement.
<br /> Section 2.02. DATE, DENOMINATIONS, NUMBERS, MATURITIES AND
<br /> TERMS OF BONDS. (a) Terms of Bonds. The Bonds, there shall initially be issued, sold,
<br /> and delivered hereunder fully registered bonds, without interest coupons, in the form of Current
<br /> Interest Bonds, numbered consecutively from R-I upward, payable to the respective initial
<br /> registered owners thereof, or to the registered assignee or assignees of said bonds or any portion
<br /> or portions thereof(in each case,the "Registered Owner"),in Authorized Denominations,maturing
<br /> and payable serially on August 15 in each of the years and in the principal amounts respectively
<br /> as forth in the following schedule:
<br /> YEARS AMOUNT YEARS AMOUNT
<br /> 2026 $ 565,000 2036 $1,515,000
<br /> 2027 975,000 2037 1,590,000
<br /> 2028 1,020,000 2038 1,670,000
<br /> 2029 1,075,000 2039 1,750,000
<br /> 2030 1,130,000 2040 1,820,000
<br /> 2031 1,185,000 2041 1,900,000
<br /> 2032 1,240,000 2042 1,980,000
<br /> 2033 1,310,000 2043 2,070,000
<br /> 2034 1,370,000 2044 2,160,000
<br /> 2035 1,440,000 2045 2,260,000
<br /> (b) In General. The Bonds (i) may and shall be redeemed prior to the respective
<br /> scheduled maturity dates, (ii) may be assigned and transferred, (iii) may be exchanged for other
<br /> Bonds, (iv) shall have the characteristics, and (v) shall be signed and sealed, and the principal of
<br /> and interest on the Bonds shall be payable,all as provided,and in the manner required or indicated,
<br /> in the FORM OF BONDS set forth in Exhibit B to this First Supplement.
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<br /> Sail Marcos I WWSRB 2025 11"Supplemental Ordinance
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