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<br />scheduled to occur within 30 calendar days after the transfer or exchange date; <br />provided, however, such limitation shall not be applicable to an exchange by the <br />Holder of the uncalled principal balance of a Bond. <br /> <br />* The City, the Paying Agent/Registrar, and any other person may treat the <br />person in whose name this Bond is registered as the owner hereof for the purpose of <br />receiving payment as herein provided and for all other purposes, whether or not this <br />Bond is overdue, and neither the City nor the Paying Agent/Registrar shall be <br />affected by notice to the contrary. <br /> <br />* IT IS HEREBY CERTIFIED AND RECITED that the issuance of this Bond and <br />the series of which it is a part is duly authorized by law and, to the extent required <br />by law, has been authorized by a vote of the properly qualified electors of the City <br />voting at an election held for that purpose within the City; that all acts, conditions <br />and things required to be done precedent to and in the issuance of the Bonds have <br />been properly done and performed and have happened in regular and due time, form <br />and manner, as required by law; and that the total indebtedness of the City, <br />including the Bonds, does not exceed any constitutional or statutory limitation. <br /> <br />IN WITNESS WHEREOF, the City has caused this Bond to be duly executed <br />under its official seal. <br /> <br />COUNTERSIGNED: <br /> <br />CITY OF SAN MARCOS, TEXAS <br /> <br />City Secretary, City of San Marcos, Texas <br /> <br />By <br />Mayor, City of San Marcos, Texas <br /> <br />[SEAL] <br /> <br />(b) <br /> <br />Form of Certificate of Paying Agent/Registrar. <br /> <br />The following "Certificate of Paying Agent/Registrar" shall appear on the <br />engraved, lithographed or printed Bonds, but need not appear on the Initial Bond: <br /> <br />CERTIFICATE OF PAYING AGENT/REGISTRAR <br /> <br />This is one of the Bonds referred to in the within-mentioned Bond Ordinance. <br />The series of Bonds of which this Bond is a part was originally approved by the <br />Attorney General of the State of Texas and registered by the Comptroller of Public <br />Accounts of the State of Texas. <br /> <br />MBank Austin, N.A., Austin, Texas <br />as Paying Agent/Registrar <br /> <br />Dated: <br /> <br />By: <br /> <br />Authorized Signatory <br /> <br />1659f <br /> <br />-19- <br />