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conditions, stipulations, promises, agreements, and provisions hereof are intended to be and shall
<br />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 II
<br />BOND AUTHORIZATION AND SPECIFICATIONS
<br />Section 2.01. PURPOSE, DESIGNATION, DATE, DENOMINATIONS, NUMBERS
<br />AND MATURITIES OF BONDS. (a) The Bonds are being issued to provide funds to (i) construct
<br />the expansion of FM 3407 (Wonder World Drive) in accordance with the Agreement, (ii) capitalize
<br />interest on the Bonds for the period of construction and seven (7) months thereafter and (iii) pay the
<br />costs of issuance of the Bonds. The Bonds shall be issued in the aggregate principal amount of
<br />$42,950,000. Each Bond issued pursuant to this Ordinance shall be designated: "CITY OF SAN
<br />MARCOS, TEXAS PASS-THROUGH TOLL REVENUE AND LIMITED TAX BONDS,
<br />SERIES 2008" and initially there shall be issued, sold, and delivered hereunder fully registered
<br />bonds, without interest coupons, dated March 1, 2008, in the respective denominations and principal
<br />amounts hereinafter stated, numbered consecutively from T-1 upward (except the Initial Bond
<br />submitted to the Attorney General of the State of Texas which will be numbered R-1), payable to
<br />the respective initial registered owners thereof (as designated in Section 7.10(b) hereof), or to the
<br />registered assignee or assignees of the Bonds or any portion or portions thereof (in each case, the
<br />"Registered Owner"), and the Bonds shall mature and be payable serially on August 15 in each of
<br />the years and in the principal amounts, respectively, as set forth in the following schedule:
<br />YEARS AMOUNTS YEARS AMOUNTS
<br />2012 $1,415,000 2022 $1,025,000
<br />2013 1,460,000 2022 1,100,000
<br />2014 1,490,000 2023 2,235,000
<br />2014 25,000 2024 1,000,000
<br />201 S 1,575,000 2025 3,840,000
<br />2016 1,635,000 2026 2,605,000
<br />2017 1,700,000 2027 2,735,000
<br />2018 1,770,000 2028 2,875,000
<br />2019 1,845,000 2029 3,025,000
<br />2020 1,925,000 2030 *****
<br />2021 2,015,000 2031 5,655,000
<br />SAN MARCOS 2008: FirstSupplementalOrdinance
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