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<br /> - ,'Ar <br /> ' <br /> POWER OF ATTORi'ŒY <br /> AND <br /> RATIFICATION OF OFFICIAL ACTS <br /> We, Richard L. Gillespie and Marcia Gillespie, ("Gillespie"), husband and wife, <br /> residing at 1000 Be Back Road, San Marcos, Texas 78666 hereby appoint Ruth Ann Hoch, <br /> -- whose address is P. O. Box 72841, Corpus Christi, Texas 78472, as our true:: and lawful attorney <br /> in fact, with power and authorization to act for us in our name, place and stead as hereinafter <br /> provided. <br /> Scopè of Authority. - <br /> 1. <br /> (a) Sale ofElim Water Company, Inc., Stock. We are the owners of one share of <br /> common stock (Certificate No. 19) issued by Elim Water Company, Inc. ("Elim"), and which <br /> share of stock is free and clear of any encumbrances or liens and constitutes the only interest in <br /> Elim owned, possessed or controlled by us. The above named attorney in fact is hereby given <br /> and granted full and exclusive power and authority to hold, sell, transfer and convey on our <br /> behalf said share of the capital stock of Elim, together with any and all other interests in Elim <br /> owned or controlled or both by us to the City of San Marcos, Texas ("City"), to such not for <br /> \ <br /> I <br /> ¡ profit entity or entities as the City may designate, or a combination of the City and anyone or <br /> -- <br /> more of such entities, for a price of $4,250.00, 'With full power and authority to enter into any <br /> contract or contracts for the sale of such share of stock to the City and/or such municipal <br /> designee(s) >as said attorney in fact shall in her discretion elect, to deliver possession and <br /> ownership of such share of stock, to execute, acknowledge and deliver in our name such <br /> instruments of assignment and transfer and such other agreements and instruments as may be <br /> necessary, convenient, or reasonably required by the City, for such sale, assignment and transfer <br /> 1 <br />