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ARTICLE XIII
<br />AMENDMENTS; FURTHER PROCEDURES; AND SEVERABILITY
<br />Section 13.01. Amendments.
<br />This Ordinance shall not be amended or repealed by the City while any Certificate remains
<br />outstanding, except as penmtted by this Section. The City, without the consent of or notice to any Owner,
<br />from time to time and at any time, may amend this Ordinance in any manner not detrimental to the interests
<br />ofthe Owners, including the curing of any ambiguity, inconsistency, or formal defect or omission herein. In
<br />addition, the City, with the written consent of Owners holding a majority in aggregate principal amount ofthe
<br />Certificates then outstanding affected thereby, may amend, add to, or rescind any of the provisions of this
<br />Ordinance; provided that, without the consent of all Owners of then outstanding Certificates, no such
<br />amendment, addition, or recission shall (i) extend the time or tunes of payment ofthe principal of and interest
<br />on the Certificates, reduce the principal amount thereof, redemption price therefor, or the rate of interest
<br />thereon, or in any other way modify the terms of payment ofthe principal of or interest on the Certificates, (ii)
<br />give any preference to any Certificate over any other Certificate, or (iii) reduce the aggregate principal amount
<br />of Certificates required for consent to any such amendment, addition, or reciss~on.
<br />Section 13.02. Further Procedures.
<br />The officers and employees ofthe City are hereby authorized and directed from time to time and at any
<br />time to do and perform all such acts and things and to execute, acknowledge and deliver in the name and on
<br />behalf of and under the corporate seal ofthe Crty all such instruments, whether mentroned herein or not, as may
<br />be necessary or desirable in order to carry out the terms and provisions of this Ordinance, the initial sale and
<br />delivery ofthe Certificates, the Paying Agent/Registrar Agreement, and the Official Statement. In addition,
<br />prior to the initial delivery ofthe Certificates, the Mayor, the City Manager or Director of Finance ofthe City,
<br />and Certificate Counsel are hereby authorized and directed to approve any technical changes or corrections to
<br />this Ordinance or to any ofthe instruments authorized and approved by this Ordinance necessary in order to
<br />(i) correct any ambiguity or mistake or properly or more completely document the transactions contemplated
<br />and approved by this Ordinance and as described in the Official Statement, (ii) obtain a rating from any ofthe
<br />national bond rating agencies, or (iii) obtain the approval ofthe Certificates by the Attorney General of Texas.
<br />In the event that any officer ofthe City whose signature shall appear on any certificate shall cease to be such
<br />officer before the delivery of such certificate, such signature nevertheless shall be valid and sufficient for all
<br />purposes the same as if such officer had remained in office until such delivery.
<br />Section 13 03. Severability,
<br />If any section, article, paragraph, sentence, clause, phrase or word in this Ordinance, or application
<br />thereof to any person or circumstance is held to be invalid or unenforceable ,the remainder of this Ordinance
<br />and the application of such section, article, paragraph, sentence, clause, phrase or word to other persons and
<br />circumstances nevertheless shall be valid and enforceable; and it is hereby declared that this Ordinance would
<br />have been enacted vv~thout such invalid or unenforceable provision.
<br />San Marcos CTRCO 20078 Ordinance
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