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including obligations that are unconditionally guaranteed or insured by the agency or instrumentality and that, on the date the governing body of the City adopts or approves the proceedings authorizing the issuance of refunding obligations, are rated as to investment quality by a nationally recognized investment rating firm not less than AAA or its equivalent, and/or (C) noncallable obligations of a state or an agency or a county, municipality, or other political subdivision of a state that have been refunded and that, on the date the governing body of the City adopts or approves the proceedings authorizing the issuance of refunding obligations, are rated as to investment quality by a nationally recognized investment rating firm not less than AAA or its equivalent and which may be in book- entry form; provided that such obligations shall mature and/or bear interest payable at such times and in such amounts as will be sufficient to provide for the scheduled payment and/or redemption of such obligations, and, if any such obligations are to be redeemed prior to their respective dates of maturity, provision shall have been made for the giving of notice of redemption as provided herein; (iv) the City shall make provision for the payment to the Owners at the date of maturity or prior redemption of the full amount to which the Owners of such Bond or Bonds would be entitled by way of principal and interest to the date of such maturity; and (b) Upon compliance with subsection (a) of this Section, the Bond or Bonds for the payment of which provision is thus made shall no longer be regarded as outstanding and unpaid, and the Paying Agent/Registrar, upon receipt of a letter of instructions from the City requesting the same, shall discharge and release the lien of this Ordinance as to such Bond or Bonds and shall execute and deliver to the City such releases or other instruments as shall be requisite to release the lien hereof. (c) Following the final payment of the principal of, interest on and redemption premium, if any, of such Bond or Bonds, any moneys, interest earnings, profits or capital gains over and above the amounts necessary for such purposes shall be paid to the City. ARTICLE XIII CONTINUING DISCLOSURE OBLIGATION Section 13.01. Definitions. As used in this Article, the following terms have the meanings ascribed to such terms below: "MSRB" means the Municipal Securities Rulemaking Board. "NRMSIR" means each person whom the SEC or its staff has determined to be a nationally recognized municipal securities information repository within the meaning of the Rule from time to time. "Rule" means SEC Rule 15c2-12, as amended from time to time. "SEC" means the United States Securities and Exchange Commission. "SID" means any person designated by the State of Texas or an authorized department, officer, or agency thereof as, and determined by the SEC or its staff to be, a state information depository within the meaning of the Rule from time to time. R\San Marcos\EUS Rfdg.02IDocs\Ordinance\Final.wpd 39