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<br />r'ILllili,:\NIHJf'l (lI-' Al;I\I'.~':rlUJT
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<br />TIII~) ACI,ElJ'lUJ'l' i;, t'IILl.'l'l.'d illLo by .,llld l)l.'twl.'l:n
<br />Sill) t'-Ljt'l"'~; Illlll!:,1 t'Ld L1t'Vt,do[lllll'lll COCpuL.llion
<br />( I " I ' ," ) I -/" C'
<br />{1L' "I..:llII'I'I'd:,lllll ,...1111.. '~e..A.r~JQ"" .0
<br />(LhL' L"IlIj',JllY), d Cll) ['''Idtlon .Iuly InCul'pOLJtt=d under the laws
<br />of LllL' StilL' ,d' ct,.c (JIlLl fully qllalifiL'd to transact
<br />busillL':':; in Lilt: Stdte-~)[ T~id~;, ,'or LIlL' purposL' of sl.'curing
<br />lll...: .j~',l L'VIIIL'l1l 1'( tit...: CUI pocLltiun to issuv its t't;venue bonds
<br />(LIlt: "L'III'!:;") lor t he plll'po~e of findllcing cl:rtain industrial,
<br />l1lJllUtdCtUI ing 01' COIIUHL'rcL.d fdcilitiL'::i (the "Facilities")
<br />fol' tlw U;;L' uf LhL' COHlpdny, such Facilities to be located wholly
<br />or p,-H't ly \"ithil\ the bOl.llldal'ies of The City of San Marcos, Texas
<br />(the "GuVV1'lllllL'nlal Unit").
<br />
<br />(I) TilL' obligc.1tioll:5of tllL' parties hereunder are contingent
<br />upun ()bt,-.tinin~~ Iniol to the issuance of the bonds, a ruling
<br />from Lh...: JlltL'rllal RL'vL'nue Service to t Iw effect that interest
<br />on tile BUIlds will be exempt frolll fedeJ'al income tax under
<br />Secl10n lUJ(I)) (6) uf thl: Intern:..tl RevL'nue Code of 1954, as
<br />amended, if ill tlte opinion of Bond Coun::il.'l such a ruling is
<br />required, c.111J llpun obL.dning such other rulings, approvals,
<br />consents, ,L'l'tifi,,:..ttes, opinion~ of counsel and other instru-
<br />l~lents and Inuc(;L'd ing::> dS may be deelll~d necessary by the Company
<br />or Bond Cuull:";LI with respect to the Facilities, the Bonds or
<br />any inSLl'lllllL'llt t'L'1.1l Lng thereto. frulll such governmental agencil:::i
<br />and ent iti es i..I::i llldY pussess, or IIILlY have asserted authority Ot'
<br />jurisdL l i()n OVer' uc intel'est in watters pel-taining to the
<br />FacilitiL' , :..tll oj which ::;hall be in full force and effect at
<br />the tiwL: uf the i,,::iuance of th~ Bunds.
<br />
<br />(G) S IIG::; L<lIlt i ally a 11 of the proceeds of the l} 0 n d s ::; hall
<br />be u::;ed ::;ul~ly td finance the acqui::;ition, construction and
<br />improvelllellf of the Facilities, or a portion thereof, as gener,-.illy
<br />describ~d in Sclledult: A attacht:d hereto and hereby made a part
<br />hereof.
<br />
<br />(c) The BOllds shall be in an aggt'egate principal amount of
<br />not to exceed Tl.'ll Million Dollars ($10,000,000), and shall be
<br />issued in one or more seri~s, hut only pursuant to a
<br />resolution or resolutiono of the Corporation I s Board of Directoc,
<br />which will be appt'oved as to form by Bond Counsel. Subject to
<br />the terms hereof, the Corpnration agl-ee::; as follows;
<br />
<br />(l) To issue the BunJs and, if the Company and
<br />the Corpordtiun agrl.'e, other evidences of indebtedness
<br />providing temporary finall(~ing of the Facilities which
<br />will be issued after the date het'eof anJ be refunded
<br />by thL' Bonds pUr::iUall,t to It:gislatioll heretofore or
<br />hL'ledft.:er L'{)i..Icted ,""hich may provide a suitable method
<br />of t<..lX l:Xl.'lllpt bond financing. TIlL' Bunds shall be is::;UL'J
<br />in c.1n aggn:gatL' princi.pal dllhJunt noL to exceed the then
<br />estilllc.1teJ co~;t of lite Facii itie~, illClu,lill,'. Che costs
<br />of L,SUdI1Cl.'.
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