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<br />FORM OF CERTIFICATE OF OBLIGATION <br /> <br />NO. <br /> <br />$1,000 <br /> <br />1 <br /> <br />UNITED STATES OF AMERICA <br />STATE OF TEXAS <br />COUNTY OF HAYS <br />CITY OF SAN MARCOS <br />TAX AND REVENUE CERTIFICATE OF OBLIGATION <br />SERIES 1977 <br /> <br />ON JANUARY 1, 19 <br /> <br />, the City of San Ma~cos, in the <br /> <br />County of Hays, State of Texas, promises to pay to bearer the <br /> <br />principal amount of <br /> <br />ONE THOUSAND DOLLARS <br /> <br />($1,000), and to pay interest thereon, from the date hereof to <br /> <br />maturity, at the rate of ____% per annum, evidenced by interest <br /> <br />coupons payable January I, 1979, and semi-annually thereafter on <br />each July 1 and January 1. <br /> <br />THE PRINCIPAL of this Certificate of Obligation and the <br /> <br />interest coupons appertaining hereto shall be payable in lawful <br /> <br />money of the United States of America, without exchange or collec- <br /> <br />I <br /> <br />tion charges to the bearer, upon presentation and surrender of <br /> <br />this Certificate of Obligation or proper interest coupon, at <br /> <br />State Bank and Trust Co., San Marcos, Texas, which shall be the <br /> <br />pay~ng agent for this series of Certificates of Obligation. <br /> <br />THIS CERTIFICATE OF OBLIGATION is one of a Series of <br /> <br />Certificates of Obligation, dated October 1, 1977, issued in 'the <br /> <br />principal amount of $75,000, for the purpose of paying contractual <br /> <br />obligations to be incurred for constructing and acquiring improve- <br /> <br />ments to the City's airport, and for paying contractual obligations <br /> <br />for professional services, including attorneys and financial <br /> <br />advisors, in accordance with Article 236Ba.l, of the Revised Civil <br /> <br />Statutes of Texas, as amended, and pursuant to an ordinance duly <br /> <br />passed by the City Council of said City. <br /> <br />1 <br /> <br />AS SPECIFIED in the ordinance hereinabove mentioned, the <br /> <br />City reserves the right to redeem the Certificates of Obligai:ion <br /> <br />of this series, in whole or in part, at any time hereafter, at par <br /> <br />and accrued interest; provided, however, that at least thirty (30) <br />