Ord 2013-023/Electric System Revenue Bonds in an amount not to exceed $19,500,000

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First Supplement, the date of the Bonds, any additional or different designation or title by which the Bonds shall be known, the price at which the Bonds will be sold, the years in which the Bonds will mature, the principal amount to mature in each of such years, the aggregate principal amount of Bonds, the rate or rates of interest to be borne by each such maturity, the interest payment periods, the dates, price, and terms upon and at which the Bonds shall be subject to redemption prior to maturity at the option of the City, as well as any mandatory sinking fund redemption provisions, procuring municipal bond insurance and approving modifications to this First Supplement related to the procurement of such insurance and executing such instrument, documents and agreements as may be necessary with respect thereto, if it is determined by such officers that the City procuring such insurance would be financially desirable and advantageous and all other matters relating to the issuance, sale, and delivery of the Bonds, all of which shall be specified in the Pricing Certificate; provided that (i) the price to be paid for each series of the Bonds shall not be less than 90% of the aggregate original principal amount thereof plus accrued interest, if any, thereon from its date to its delivery and (ii) none of the Bonds shall bear interest greater than the maximum rate authorized by law. Each series of the Bonds may be in the form of Tax - Exempt Bonds or Taxable Bonds as determined by the City Official as set forth in each Pricing Certificate. (c) Sale of the Bonds. To achieve advantageous borrowing costs of the City and the Financing Program, the Bonds shall be sold on a negotiated, placement or competitive basis as determined by the City Official in the Pricing Certificate. In determining whether to sell the Bonds by negotiated, placement or competitive sale, the City Official shall take into account the market conditions expected at the time of the sale and any other matters which, in the judgment of the City Official, might affect the net borrowing costs on the Bonds. If the City Official determine that the Bonds should be sold at a competitive sale, the City Official shall cause to be prepared a notice of sale and official statement in such manner as the City Official deem appropriate, to make the notice of sale and official statement available to those institutions and firms wishing to submit a bid for a series of the Bonds, to receive such bids, and to award the sale of the Bonds to the bidder submitting the best bid in accordance with the provisions of the notice of sale. If the City Official determine that the Bonds should be sold by a negotiated sale or placement, the City Official shall designate the placement purchaser or the senior managing underwriter for the Bonds and such additional investment banking firms as the City Official deem appropriate to assure that the Bonds are sold on the most advantageous terms. The City Official, acting for and on behalf of the City, are authorized to enter into and carry out a Bond Purchase Contract or other agreement for the Bonds to be sold by negotiated sale or placement at such price, with and subject to such terms as determined by the City Official pursuant to Section 2.02(b) above. Each Bond Purchase Contract or other agreement shall be substantially in the form and substance previously approved by the City in connection with the authorization of outstanding Bonds with such changes as are acceptable to the City Official. (d) Interest. Each series of the Bonds shall bear interest from the dates specified in the FORM OF BOND set forth in this First Supplement to their respective dates of maturity or redemption at the rates per annum as set forth in the Pricing Certificate. Interest shall be payable SanMARCOS \ElectricUtilSysRevBonds \2013: 1 stSuppOrdinance 4