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ARTICLE VII <br />MISCELLANEOUS <br />Section 7.01. DISPOSITION OF BOND PROCEEDS AND OTHER FUNDS. Proceeds <br />from the sale of each Series of Bonds shall, promptly upon receipt thereof, be applied by the Chief <br />Financial Officer as follows: <br />(i) any underwriting discount or fees and any Credit Agreement fees for each Series of <br />Bonds maybe retained by and/or wired directly to such parties; <br />(ii) any accrued interest and sale proceeds to be used to pay capitalized interest for the <br />Series of Bonds, if any, shall be deposited as provided in Section 4.01; <br />(iii) an amount sufficient to pay the remaining costs of issuance of the Bonds and the cost <br />of acquiring, purchasing, constructing, improving, enlarging, and equipping the <br />improvements being financed with the proceeds of each Series of Bonds shall be <br />deposited in a separate subaccount for each Series within the Bond Proceeds Account <br />to be used for such purposes; and <br />Any sale proceeds of the Bonds remaining after making all deposits and payments provided <br />for above shall be deposited into the Interest and Sinking Account and applied to the payment of <br />principal of and interest on the Bonds. <br />Section 7.02. MAILED NOTICES. Except as otherwise required herein, all notices <br />required or authorized to be given to the City, any Bond Insurer (as defined in, and pursuant to, <br />Section 3.06 hereof) or the Paying Agent/Registrar pursuant to this First Supplement shall be in <br />writing and shall be sent by registered or certified mail, postage prepaid, to the following addresses <br />or otherwise given in a manner deemed, in writing, acceptable to the party to receive the notice: <br />1. to the Citv: <br />City of San Marcos, Texas <br />630 East Hopkins Street <br />San Marcos, Texas 78666 <br />Attn: City Manager <br />Telephone: (512) 393-8000 <br />Facsimile: (512) 396-4656 <br />2. to the Pa,~in~ A eg nt/Re isg tray: <br />Regions Bank <br />Corporate Trust Division <br />1717 St. James Place, Suite 500 <br />Houston, Texas 77056 <br />Telephone: (713) 693-5344 <br />Facsimile: (713) 693-5303 <br />SAN MARCOS 2008: FirstSupplementalOrdinance 1 c~ <br />