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<br /> BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS: <br /> ARTICLE I <br /> DEFINITIONS AND OTHER PRELIMINARY MATTERS <br /> Section 1. 01. Definitions. <br /> Unless otherwise expressly provided or unless the context <br /> clearly requires otherwise, in this Ordinance the following terms <br /> shall have the meanings specified below: <br /> "Additional Bonds" shall mean the additional parity revenue <br /> bonds and obligations permitted to be issued under the provisions of <br /> this Ordinance and the Ordinances authorizing the Outstanding Bonds. <br /> "Bond" means any of the Bonds. <br /> "Bonds" means the City's bonds entitled "City of San Marcos, <br /> Texas, Waterworks and Sewer System Revenue Bonds, Series 1991" in <br /> the aggregate principal amount of $850,000 authorized to be issued <br /> by Section 3.01 of this Ordinance. <br /> "Closing Date" means the date of the initial delivery of and <br /> payment for the Bonds. <br /> "Code" means the Internal Revenue Code of 1986, as amended, <br /> including the regulations and published rulings thereunder. <br /> "City Council" means the governing body of the City. <br /> "Event of Default" means any Event of Default as defined in <br /> Section II.Ol of this Ordinance. <br /> "Holder" or "Owner" means the person who is the registered <br /> owner of a Bond or Bonds, as shown in the Register. <br /> "Initial Bond" means the Bond described in Section 3.04(d) and <br /> 6.02(d). <br /> "Interest Payment Date" means the date or dates upon which <br /> interest on the Bonds is scheduled to be paid, such dates being <br /> January I and July 1 of each year commencing January 1, 1992. <br /> "Net Revenues" means the gross revenues derived from the <br /> operation of the System remaining after payment of expenses of <br /> operation and maintenance of the System as hereinafter provided. <br /> "Ordinance" means this Ordinance. <br /> 4172f <br /> -2- <br />