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City of San Marcos, Texas, Waterworks and Sewer System Revenue Bonds, Series 1998; City of San Marcos, Texas, Waterworks and Waste Water System Revenue Bonds, Series 1999; and City of San Marcos, Texas, Waterworks and Waste Water System Revenue Bonds, Series 2000. "Purchaser" means the person, firm or entity initially purchasing the Bonds from the City and which is designated in Section 7.01 of this Ordinance. "Record Date" means the last business day of the month next preceding an Interest Payment Date. "Register" means the Register specified in Section 3.06(a) of this Ordinance. "Reserve Fund" means the reserve fund provided by Section 8.01(c) of this Ordinance. "Revenue Fund" means the revenue fund provided by Section 8.01(a) of this Ordinance. "Special Payment Date" means the Special Payment Date prescribed by Section 3.03(b) of this Ordinance. "Surety Policy" means, to the extent permitted by law (including, particularly, Tex. Gov't Code Ann. §1502.064), a surety bond, insurance policy, including any related reimbursement or financial guaranty agreement, by which the issuer is obligated to provide funds up to and including the maximum amount and under the conditions specified in such agreement or instrument, provided that the issuer of any Surety Policy shall be rated, at the time of issuance of such Surety Policy, in the highest rating category by Standard & Poor's Ratings Group and Moody's Investors Service. "System" means the City's combined Waterworks and Sewer System, including all present and future extensions, enlargements, additions, replacements and improvements thereto. "Term Bonds" means the Bonds, if any, subject to mandatory sinking fund redemption as described in Section 4.02. "Unclaimed Payments" means money depoSited with the Paying Agent/Registrar for the payment of principal, redemption premium, if any, or interest on the Bonds as the same become due and payable or money set aside for the payment of Bonds duly called for redemption prior to maturity, and remaining unclaimed for 90 days after the applicable payment or redemption date. Section 1.02. Other Definitions. The terms "City Council" and "City" shall have the respective meanings assigned in the preamble to this Ordinance. Section 1.03. Findings. The declarations, determinations and findings declared, made and found in the preamble to this Ordinance are hereby adopted, restated and made a part of the operative provisions hereof. R:\San Marcos\WWSS.03\Docs\Ordinance\WS Ord Final.wpd 3