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of the redemption price and the interest accrued on the principal amount to be redeemed to the date <br />of redemption is held for the purpose of such payment by the Paying Agent/Registrar, interest shall <br />cease to accrue and be payable from and after the redemption date on the principal amount to be <br />redeemed. If the Bond is called for redemption, in whole or in part, the Authority or the Paying <br />Agent/Registrar shall not be required to issue, transfer, or exchange the Bond within forty-five (45) <br />days of the date fixed for redemption; provided, however, such limitation of transfer shall not be <br />applicable to an exchange by the Holder of the unredeemed balance in the event of its redemption <br />in part; and <br />(vi) the Bonds have been approved for issuance by the Texas Water Development Board <br />and will be approved by the Texas Attorney General. <br />ARWA I San Marcos 2025C I Approval Certificate <br />