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Section 1.04. LIMITATION OF BENEFITS WITH RESPECT TO THIS FIRST
<br />SUPPLEMENT. With the exception of the rights or benefits herein expressly conferred, nothing
<br />expressed or contained herein or implied from the provisions of this First Supplement or the Bonds
<br />is intended or should be construed to confer upon or give to any person other than the City, the
<br />Owners, and the Paying Agent /Registrar, any legal or equitable right, remedy, or claim under or by
<br />reason of or in respect to this First Supplement or any covenant, condition, stipulation, promise,
<br />agreement, or provision herein contained. This First Supplement and all of the covenants,
<br />conditions, stipulations, promises, agreements, and provisions hereof are intended to be and shall
<br />be for and inure to the sole and exclusive benefit of the City, the Owners, and the Paying
<br />Agent /Registrar as herein and therein provided.
<br />ARTICLE II
<br />BOND AUTHORIZATION AND SPECIFICATIONS
<br />Section 2.01. AMOUNT, PURPOSE AND DESIGNATION OF THE BONDS. The
<br />Bonds in one ore more series designated "CITY OF SAN MARCOS, TEXAS ELECTRIC
<br />UTILITY SYSTEM REVENUE BONDS" (the "Bonds ") are hereby authorized to be issued
<br />pursuant to this First Supplement in the maximum aggregate principal amount not to exceed
<br />$19,500,000 for the purpose of (i) paying the costs of acquiring, purchasing, constructing,
<br />improving, renovating, enlarging or equipping the City's Electric Utility System and (ii) paying the
<br />costs associated with the issuance of each series of the Bonds. One or more series of the Bonds are
<br />authorized pursuant to authority conferred by and in conformity with State law, particularly the
<br />provisions of the Enabling Act.
<br />The Bonds will be in the form of Current Interest Bonds as provided in Section 2.02, the
<br />Pricing Certificate and the FORM OF BONDS in Exhibit "B" to this First Supplement.
<br />Section 2.02. DATE, DENOMINATIONS, NUMBERS, MATURITIES AND TERMS
<br />OF BONDS. (a) Terms of Bonds. There initially shall be issued, sold and delivered under this First
<br />Supplement fully registered bonds, without interest coupons, which may be in the form of Current
<br />Interest Bonds, numbered consecutively from R -1 upward (except the Initial Bond (as defined in
<br />Section 2.06 hereof) delivered to the Attorney General of the State of Texas which shall be
<br />numbered T -1) payable to the initial registered owner(s) (as designated in subsection (c) of this
<br />Section), or to the registered assignee or assignees of said Bonds or any portion or portions thereof
<br />(in each case, the "Registered Owner" or the "Owner "), in the denomination of $5,000 or any
<br />integral multiple thereof, maturing not later than November 1, 2038, serially or otherwise on the
<br />dates, in the years and in the principal amounts, respectively, and dated, all as set forth in the Pricing
<br />Certificate pursuant to subsection (b) of this Section. The Pricing Certificate is hereby incorporated
<br />in and made a part of this First Supplement. The authority for the City Official to executed and
<br />deliver each Pricing Certificate for a series of Bond shall expire at 5:00 p.m. CDST on April 2, 2014.
<br />Bonds priced on or before April 2, 2014 may be delivered to the initial purchaser after such date.
<br />(b) Selling and Delivering One or More Series of the Bonds. As authorized by Chapter
<br />1371, Texas Government Code, as amended, the City Officers are hereby authorized to act on behalf
<br />of the City in selling and delivering the Bonds and carrying out the other procedures specified in this
<br />SanMARCOS \ElectricUtilSysRevBonds \2013: 1 stSuppOrdinance
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