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<br />FORM OF INTEREST COUPON
<br />
<br />NO.
<br />
<br />1, 19_
<br />
<br />ON
<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, said
<br />amount being interest due that date on the certificate, bearing the
<br />number hereinafter designated, of that issue of CITY OF SAN MARCOS,
<br />TEXAS, COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES
<br />1982-B, dated December 1, 1982. Certificate No.
<br />
<br />xxxxxxxxxxxxxxxxxxxxxxxx
<br />City Secretary, City of
<br />San Marcos, Texas
<br />
<br />xxxxxxxxxxxxxxxxxxxxxxxx
<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,
<br />Series 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 waterworks and sewer system, less the City'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 "Outstanding Certificates" shall mean the
<br />outstanding certificates of (1) the City's Combination Tax and Revenue
<br />Certificates of Obligation, Series 1982, dated May 1, 1982, and (2)
<br />the Ci ty' s Combination Tax and Revenue Cer tif ica tes of Obl iga tion,
<br />Series 1982-A, dated July 1, 1982; and the certificates of obligation
<br />author i zed hereby are "addi tional certif icates of obligation on a
<br />parity, insofar as net revenues are concerned" with the Outstanding
<br />Certificates, as permitted by the ordinances authorizing the
<br />Outstanding Certif icates. Sections 8, 9 and 14 of the ordinance
<br />authorizing the Ci ty' s Combination Tax and Revenue Certificates of
<br />Obligation, Series 1982, are hereby adopted by reference and shall be
<br />applicable to the certif icates author i zed hereby for all purposes,
<br />except to the extent specifically modified and supplemented hereby.
<br />
<br />(e) The term "system" shall mean the City's existing
<br />waterworks and sewer system, and all present and future extensions,
<br />additions, 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 certif icates and the interest
<br />thereon are and shall be payable from and secured by an irrevocable
<br />
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