Ord 2013-020/Combination of Tax and Revenue Certificates of Obligation in an amount not to exceed $13,500,000

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DTC accounts, as identified by DTC. In such event, the Certificates shall no longer be restricted to being registered in the Register in the name of Cede & Co., as nominee of DTC, but may be registered in the name of the successor securities depository, or its nominee, or in whatever name or names Owners transferring or exchanging Certificates shall designate, in accordance with the provisions of this Ordinance. Section 3.11. Payments to Cede & Co. Notwithstanding any other provision of this Ordinance to the contrary, so long as any Certificates are registered in the name of Cede & Co., as nominee of DTC, all payments with respect to principal of, premium, if any, and interest on such Certificates, and all notices with respect to such Certificates, shall be made and given, respectively, in the manner provided in the Representation Letter. ARTICLE IV REDEMPTION OF CERTIFICATES BEFORE MATURITY Section 4.01. Limitation on Redemption. The Certificates shall be subject to redemption before scheduled maturity only as provided in this Article IV. Section 4.02. Optional, Mandatory and Extraordinary Redemption. (a) The City reserves the option to redeem a series of the Certificates as provided in each Pricing Certificate. (b) The City, at least forty -five (45) days before the redemption date (unless a shorter period shall be satisfactory to the Paying Agent /Registrar), shall notify the Paying Agent/Registrar of such redemption date and of the principal amount of Certificates to be redeemed. Section 4.03. Partial Redemption. (a) If less than all of the Certificates are to be redeemed pursuant to Section 4.02(a), the City shall determine the maturities and amounts thereof to be redeemed and shall direct the Paying Agent/Registrar (or DTC or a successor securities depository, as applicable, if the Certificates are in Book -Entry -Only form) to call by lot Certificates, or portions thereof within such maturity and in such principal amounts, for redemption. (b) A portion of a single Certificate of a denomination greater than $5,000 may be redeemed, but only in a principal amount equal to $5,000 or any integral multiple thereof. The Paying Agent /Registrar shall treat each $5,000 portion of the Certificate as though it were a single Certificate for purposes of selection for redemption. San Marcos CTRCO 2013: Ordinance 16