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TABLE OF CONTENTS <br /> <br />Recitals .................................................................... 1 <br /> <br /> ARTICLE I <br />DEFINITIONS AND OTItER PRELIMINARY MATTERS <br /> <br />Section 1.01. Definitions ....................................................... 1 <br />Section 1.02. Other Definitions .................................................. 3 <br />Section 1.03. Findings ......................................................... 3 <br />Section 1.04. Table of Contents, Titles and Headings ................................. 4 <br />Section 1.05. Interpretation ..................................................... 4 <br /> <br /> ARTICLE II <br />SECURITY FOR THE BONDS <br /> <br />Section 2.01. Pledge of Revenues for Payment of the Bonds ........................... 4 <br />Section 2.02. Special Obligations ................................................ 4 <br />Section 2.03. Perfection of Security Interest ........................................ 4 <br /> <br /> ARTICLE III <br />AUTHORIZATION; GENERAL TERMS AND PROVISIONS <br />REGARDING THE BONDS <br /> <br />Section 3.01. <br />Section 3.02. <br />Section 3.03, <br />Section 3.04. <br />Section 3.05. <br />Section 3.06. <br />Section 3.07. <br />Section 3.08. <br />Section 3.09. <br />Section 3.10. <br />Section 3.11. <br /> <br />Authorization ..................................................... 5 <br />Date, Denomination, Maturities, Numbers and Interest .................... 5 <br />Medium, Method and Place of Payment ................................ 5 <br />Execution and Initial Registration ..................................... 6 <br />Ownership ....................................................... 7 <br />Registration, Transfer and Exchange ................................... 7 <br />Cancellation and Authentication ...................................... 8 <br />Replacement Bonds ................................................ 9 <br />Book-Entry Only System ........................................... 10 <br />Successor Securities Depository; Transfer Outside Book-Entry Only System.. 10 <br />Payments to Cede & Co ............................................ 11 <br /> <br /> ARTICLE IV <br />REDEMPTION OF BONDS BEFORE MATURITY <br /> <br />Section 4.01. Limitation on Redemption .......................................... 11 <br />Section 4.02. Optional Redemption .............................................. 11 <br />Section 4.03. Partial Redemption ............................................... 11 <br />Section 4.04. Notice of Redemption to Owners .................................... 12 <br />Section 4.05. Payment Upon Redemption ......................................... 12 <br />Section 4.06. Effect of Redemption .............................................. 12 <br /> <br /> ARTICLE V <br />PAYING AGENT/REGISTRAR <br /> <br />Section 5.01. Appointment of Initial Paying Agent/Registrar .......................... 13 <br />Section 5.02. Qualifications .................................................... 13 <br />Section 5.03. Maintaining Paying Agent/Registrar .................................. 13 <br /> <br />R:\San Marcos\WWSS.03\Docs\Ordinance\WS Ord Final.wpd i <br /> <br /> <br />