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<br />FORM OF INTEREST COUPON <br /> <br />NO. <br /> <br />$ <br /> <br />ON <br /> <br />1, 19 <br /> <br />the City of San Marcos, in the County of Hays, State of Texas, hereby <br />promises to pay to bearer the amount shown on this interest coupon, in <br />lawful money of the Uni ted States of Amer ica, wi thout exchange or <br />collection charges to the bearer, unless due provision has been made <br />for the redemption prior to maturity of the certificate to which this <br />coupon appertains, upon presentation and surrender of this interest <br />coupon, at the Hays County National Bank, San Marcos, Texas .' <br />said amount being interest due that date on the certificate, bearing <br />the number hereinafter designated, of that issue of CITY OF SAN <br />MARCOS, TEXAS, COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, <br />SERIES 1982, dated May 1, 1982. Certificate No. <br /> <br />xxxxxxxxxxxxxxxxxxxxxxxxx <br />City Secretary, City of <br />San Marcos, Texas <br /> <br />xxxxxxxxxxxxxxxxxxxxxxxxx <br />Mayor, City of San Marcos, <br />Texas <br /> <br />Section 6. For the purposes <br />certificates of obligation herein <br />definitions are provided: <br /> <br />of this ordinance <br />authorized, the <br /> <br />and the <br />following <br /> <br />(a) The term "Outstanding Bonds" shall mean all bonds at <br />any time outstanding of the following issue of said City: <br /> <br />Junior Lien Waterworks and Sewer System Revenue Bonds, Ser ies <br />1968, dated July 1, 1968. <br /> <br />(b) The term "net revenues" shall mean the gross revenues <br />derived by the City of San Marcos, Texas, from ownership and operation <br />of its waterwor ks and sewer system, less the Ci ty' s expenses of <br />operation and maintenance thereof, as such expenses are defined by <br />Article 1113, V.T.C.S. <br /> <br />(c) The term "certificates" shall mean the certificates of <br />obligation authorized by this ordinance. <br /> <br />(d) The term "system" shall mean the City's existing <br />waterworks and sewer system system, and all present and future <br />extensions, addition, replacements and improvements thereto. <br /> <br />Section 7. In combination wi th the ad valorem taxes herein <br />levied and ordered to be levied, the certificates and the interest <br />thereon are and shall be payable from and secured by an irrevocable <br />lien on and pledge of the net revenues of the system, subject only and <br />subordinate to a prior first lien on and pledge of the net revenues of <br />the system heretofore created in favor of the Outstanding Bonds and <br />any bonds or other securities hereafter issued to be on a parity with <br />the Outstanding Bonds. <br /> <br />Section 8. All revenues of the system shall be kept separate and <br />apart from all other funds of the City, and the following special funds <br />are hereby created and shall be established and maintained in an <br />official depository bank of the City, so long as any of the <br />certificates or interest thereon are outstanding and unpaid: <br /> <br />(a) City of San Marcos, Texas, Second Revenue Fund, <br />hereinafter referred to as the "Revenue Fund"; <br /> <br />-4- <br />