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<br /> J{1& <br /> City of San Marcos, Texas, Waterworks and Sewer System Revenue Bonds, <br /> Series 1996-A; <br /> City of San Marcos, Texas, Watenvorks and Sewer System Revenue Bonds, <br /> Series 1996-B; and <br /> City of San Marcos, Texas, Waterworks and Sewer System Revenue Bonds, <br /> Series 1996-C. <br />"Purchaser" means the person, finn or entity initially purchasing the Bonds from the City and which is <br />designated in Section 7.01 of this Ordinance. <br />"Record Date" means the last business day of the month next preceding an Interest Payment Date. <br />"Register" means the Register specified in Section 3.06(a) of this Ordinance. <br />"Special Payment Date" means the Special Payment Date prescribed by Section 3.03(b) of this <br />Ordinance. . - <br />"Surety Policy" means, to the extent permitted by law, as evidenced by an opinion of nationally <br />recognized bond counse~ a surety bond or insurance policy (which, under currently applicable law, may not entitle <br />the provider thereof to any right of reimbursement or repayment other than a right to subrogation upon payments <br />being made to bondholders) by I,vhich the issuer is obligated to provide funds up to and including the maximum <br />amount and under the conditions specified in such agreement or instrument, provided that the issuer of any Surety <br />Policy shall be rated, at the time of issuance of such Surety Policy, in the highest rating category by Standard & <br />Poor's Ratings Group and Moody's Investors Service. <br />"System" means the City's combined Watenvorks and Sewer System, including all present and future <br />extensions, enlargements, additions, replacements and improvements thereto. <br />"Unclaimed Payments" means money deposited \vith the Paying AgentlRegistrar for the payment of the <br />principal of or interest on the Bonds as the same come due and payable and remaining unclaimed by the Owners <br />of Bonds for 90 days after the appLicable payment or redemption date. <br />Section 1.02. Other Defmitions. <br />The terms "City Council" and "City" shall have the respective meanings assigned in the preamble to this <br />Ordinance. <br />Section 1.03. Findings. <br />The declarations, detenninations and fIDdings declared, made and found in the preamble to this <br />Ordinance are hereby adopted, restated and made a part of the operative provisions hereof. <br />"'\S""'""",,\WWSS.'~=CRD"CE. 3 <br />