i,PPt-"~`~~n" i,i~' ::f: -PlE2 P,?rTr7t~ L?SNr'. mEIF. :iJAT: 'i? ;~;;. I`{~P.11":,:. P=~7? (tWAr*'t-;I:N~' F.',Ii~:, tiY 'CHfi'. „T1D"F, t?n !hir~ `ku ~-~t, :7" ~~,~ ~.tf Frrbt'uary l5t'~fl, in^ :~n r., L~ :•~u~IS; ~i,~rr,,a tY,r= I-~:i<'_:: ::f r'I~i~rc au L~r ~r~I, t As:~~;~i:t+-~~.•:- 7n~.~ . r; ~ to tnri~~ i,-~r !~~~ yI, l~l:~ ' n ~ F,~ r r :,i Scalt i,~,,., .,. ~ ~ mh .u~zy :;! ~ t~L~,=~ ~ 7nr La t.-r', 1,, "T,It i~:ti rink. ^1.01~,~,-i .. ~uri.l .... ~-1; Mwonr. zio zzazeoo Ttt[rwOnC ba Q20-2e00 Tu CCO Vr 2~0 225~28d[ TCICCOPr Zia 85J9T36 February 2, 1994 TO THOSE PERSONS ON THE DISTRIBUTION LIST: 3100 ONE AMERICAN CENTER AUSTIN, TEXAS 78701-3234 T[L VwOn[ 72 aTe~]BO9 TutCOVr 5~2 av2pBT RE: KERB COOwTV, TEXAS LIMITED TAX GENERAL OBLIGATION BONDS SERIES 1994 Ladies and Gentlemen: In connection with the issuance of the above-captioned Bonds, enclosed are drafts the following: (1) Bond Order; (2) Paying Agent/Registrar Agreement; and (3) Bond Opinion. Please provide me with your comments at your earliest convenience. Should you have any questions, please do not hesitate to contact me. Cordially yours, MCCALL, PARKHURST & HORTON L.L.P. ~j I ~- Thomas K. Spurgeon - TKS:sc enclosures ss,9oo,000 KERR COUNTY, TEXAS LIMITED TAX GENERAL OBLICA77ON BONDS, SERIES 1994 Distribution List ISSUER: Kerr County 700 Main Street Kerrville, Texas 78028 W.G. "Bill" Stacey Patricia Dye FINANCIAL ADVISOR: Rauscher Pierce Refsnes, Inc. 300 Convent, Suite 1600 San Antonio, Texas 78205 Bob Henderson Mark McLiney BOND COUNSEL: McCall, Parkhurst & Horton L.L.P. 1225 One Rivetwalk Place San Antonio, Texas 78205 Thomas K Spurgeon William T. Avila McCall, Parkhurst & Horton L.L.P. 717 North Harwood, 9th Floor Dallas, Texas 75201 Harold T. Flanagan PAYING AGENT/REGISTRAR Victoria Bank & Trust Co. One O'Connor Plaza, 5th Floor Victoria, Texas 77902 Fax: (512) 896-7380 (512) 257-6181 Fax: (210) 220-3063 (210) 225-6611 Fax: (210) 225-2984 (210) 225-2800 Fax: (214) 953-0736 (214) 220-2800 Fax: (512) 574-5669 Peggy Etheridge (512) 574-5211 ORDER AUTIORIZING THE ISSUANCE OF KERB COUNTY, TEXAS LIMITED TAX GENERAL OBLIGATION BONDS, SERIES 1994, AND APPROVING AND AUTHORIZING ALL OTHER INSTRUMENTS AND PROCEDURES RELATED THERETO THE STATE OF TEXAS § COUNTY OF KERR § WHEREAS, the Commissioners Court of Kerr County, Texas (the "County" or the "Issuer") deems it necessary and advisable to construct and equip a new jail, purchase land related thereto and renovate, improve, and equip the existing county jail for county offices; WHEREAS, on December 14, 1993, a bond election was held in the County pursuant to the applicable provisions of the Texas Election Code during which a majority of the qualified voters of the County favorably approved the issuance of up to $5,900,000 in principal amount of bonds for the purpose of constructing and equipping a new county jail and the purchase of the land related thereto and to renovate the existing county jail to provide additional county offices; WHEREAS, the Commissioners Court of the County now deems it necessary and advisable to authorize, issue, and deliver all of the $5,900,000 in principal amount of said voted bonds; WHEREAS, the bonds hereinafter authorized and designated were voted and are to be issued and delivered pursuant to Articles 718, 2370b and 717k-6, Vernon's Texas Civil Statutes, as amended, and other applicable laws of the State of Texas; and WHEREAS, it is hereby officially found and determined that the meeting at which this Order was adopted was open to the public and public notice of the time, place, and purpose of said meeting was given, all as required by Chapter 551, Texas Government Code. THEREFORE, BE Tf ORDERED BY THE COMMISSIONERS COURT OF KERR COUNTY, TEXAS: SECTTON 1. AMOUNT AND PURPOSE OF THE BONDS. The bond or bonds of the County are hereby authorized to be issued and delivered in the aggregate principal amount of $5,900,000 FOR THE PURPOSE OF PAYING, IN WHOLE OR IN PART, FOR COSTS INCURRED TO CONSTRUCT AND EQUIP A NEW COUNTY JAIL AND THE PURCHASE OF THE LAND RELATED THERETO, TO RENOVATE THE EXISTING COUNTY JAIL TO PROVIDE ADDITIONAL COUNTY OFFICES, AND TO PAY ALL OR A PORTION OF T'HE LEGAL, FISCAL AND ENGINEERING FEES IN CONNECTION WITH THIS PROJECT. SECT[ON 2. DESIGNATION, DATE, DENOMINATIONS, NUMBERS, AND MATURITIES OF BONDS. Each bond issued pursuant to this Order shall be designated: "KERR COUNTY, TEXAS LIMITED TAX GENERAL OBLIGATION BOND, SERIES 1994", and initially there shall be issued, sold, and delivered hereunder fully registered bonds, without interest coupons, dated February 1, 1994, in the respective denominations and principal amounts hereinafter stated, numbered consecutively from R-1 upward, payable to the respective initial registered owners thereof (as designated in Section 14 hereof), or to the registered assignee or assignees of said bonds or any portion or portions thereof (in each case, the "Registered Owner"), and said bonds shall mature and be payable serially on February 15 in each of the years and in the principal amounts, respectively, as set forth in the following schedule: YEAR PRINCIPAL AMOUNT YEAR PRINCIPAL AMOUNT 1996 $145,000 2005 $370,000 1997 150,000 2006 390,000 1998 180,000 2007 415,000 1999 265,000 2008 435,000 2000 280,0[)0 2009 455,000 2001 300,000 2010 480,000 2002 315,000 2011 505,000 2003 335,000 2012 530,000 2004 350,000 *** *** The term "Bonds' as used in this Order shall mean and include collectively the bonds initially issued and delivered pursuant to this Order and all substitute bonds exchanged therefor, as well as all other substitute bonds and replacement bonds issued pursuant hereto, and the term "Bond" shall mean any of the Bonds. SECTION 3. INTEREST. The Bonds scheduled to mature during the years, respectively, set forth below shall bear interest from the dates specified in the FORM OF BOND set forth in this Order to their respective dates of maturity or redemption prior to maturity at the following rates per annum: YEAR OF MATURITY (FEBRUARY 15) INTEREST RATE YEAR OF MATURITY (FEBRUARY 15) INTEREST RATE 1996 6.25% 2005 6.20% 1997 6.25 2006 4.75 1998 6.25 2007 4.875 1999 6.25 2008 4.375 2000 6.25 2009 4.25 2001 6.25 2010 4.25 2002 6.25 2011 4.25 2003 6.25 2012 4.25 2004 6.25 * * * * Said interest shall be payable in the manner provided and on the dates stated in the FORM OF BOND set forth in this Order. SECI'rON 4. CHARACTERISTICS OF THE BONDS. Registration, Transfer, and Exchanp~e; Authentication. (a) The Issuer shall keep or cause to be kept at the principal corporate trust office of the Victoria Bank & Trust Co., Victoria, Texas (the "Paying Agent/Registrar") books or records for the registration of the transfer and exchange of the Bonds (the "Registration Books"), and the Issuer hereby appoints the Paying Agent/Registrar as its registrar and transfer agent to keep such books or records and make such registrations of transfers and exchanges under such reasonable regulations as the Issuer and Paying Agent/Registrar may prescribe; and the Paying Agent/Registrar shall make such registrations, transfers and exchanges as herein provided Attached hereto as Exhibit A is a copy of the Paying Agent/Registrar Agreement between the Issuer and the Paying Agent/Registrarwhirh is hereby approved in substantially final form, and the President and Secretary of the Commissioners Court of the Issuer are hereby authorized to execute the Paying Agent/Registrar Agreement and approve any changes in the final form thereof. The Paying Agent/Registrar shall obtain and record in the Registration Books the address of the registered owner of each Bond to which payments with respect to the Bonds shall be mailed, as herein provided; but it shall be the duty of each registered owner to notify the Paying Agent/Registrar in writing of the address to which payments shall be mailed, and such interest payments shall not be mailed unless such notice has been given. To the extent possible and under reasonable circumstances, all transfers of Bonds shall be made within three business days after request and presentation thereof. The Issuer shall have the right to inspect the Registration Books during regular business hours of the Paying Agent/Registrar, but otherwise the Paying Agent/Registrar shall keep the Registration Books confidential and, unless otherwise required by law, shall not permit their inspection by any other entity. The Paying Agent/Registrar's standard or customary fees and charges for making such regis- tration, transfer, exchange and delivery of a substitute Bond or Bonds shall be paid as provided in the FORM OF BOND set forth in this Order. Registration of assignments, transfers and exchanges of Bonds shall be made in the manner provided and with the effect stated in the FORM OF BOND set forth in this Order. Each substitute Bond shall bear a letter and/or number to distinguish it from each other Bond. Except as provided in (c) below, an authorized representative of the Paying Agent/Registraz shall, before the delivery of any such Bond, date and manually sign the Paying Agent/Registrar's Authentication Certificate, and no such Bond shall be deemed to be issued or outstanding unless such Certificate is so executed The Paying Agent/Registrar promptly shall cancel all paid Bonds and Bonds surrendered for transfer and exchange. No additional ordinances, orders, or resolutions need be passed or adopted by the governing body of the Issuer or any other body or person so as to accomplish the foregoing transfer and exchange of any Bond or portion thereof, and the Paying Agent/Registrar shall provide for the printing, execution, and delivery of the substitute Bonds in the manner prescribed herein, and said Bonds shall be of type composition printed on paper with lithographed or steel engraved borders of customary weight and strength. Pursuant to Vemon's Ann. Tex. Civ. St. Art. 717k-6, and particularly Section 6 thereof, the duty of transfer and exchange of Bonds as aforesaid is hereby imposed upon the Paying Agent/Registraz, and, upon the execution of said Certificate, the transferred and exchanged Bond shall be valid, incontestable, and enforceable in the same manner and with the same effect as the Bonds which initially were issued and delivered pursuant to this Order, approved by the Attorney General, and registered by the Comptroller of Public Accounts. 3 (b) payment of Bonds and Interest. The Issuer hereby further appoints the Paying Agent/Registrar to act as the paying agent for paying the principal of and interest on the Bonds, all as provided in this Order. The Paying Agent/ Registrar shall keep proper records of all payments made by the Issuer and the Paying Agent/Registrar with respect to the Bonds. (c) In General. The Bonds (i) shall be issued in fully registered form, without interest coupons, with the principal of and interest on such Bonds to be payable only to the registered owners thereof, (u) maybe redeemed prior to their scheduled maturities (notice thereof shall be given to the Paying Agent/Registrar by the Issuer at least 50 days to such redemption date), (iii) maybe trans- ferred and assigned, (iv) may be exchanged for other Bonds, (v) shall have the characteristics, (vi) shall be signed, sealed, executed and authenticated, (vii) shall be payable as to principal and interest, and (viii) shall be administered and the Paying AgentJRegistrar and the Issuer shall have certain duties and responsibilities with respect to the Bonds, all as provided, and in the manner and to the effect as required or indicated, in the FORM OF BOND set forth in this Order. The Bonds initially issued and delivered pursuant to this Order are not required to be, and shall not be, authenticated by the Paying Agent/ Registrar, but on each substitute Bond issued in exchange for any Bond or Bonds issued under this Order the Paying Agent/Registtar shall execute the PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE, in the form set forth in the FORM OF BOND. (d) Substitute Paying Agent/Registrar. The Lcsuer covenants with the registered owners of the Bonds that at all times while the Bonds are outstanding the Issuer will provide a competent and legally qualified bank, trust company, financial institution, or other entity to act as and perform the services of Paying Agent/Registrar for the Bonds under this Order, and that the Paying Agent/Registrar will be one entity and shall be an entity registered with the Securities and Exchange Commission. The Issuer reserves the right to, and may, at its option, change the Paying Agent/Registrar upon not less than 120 days written notice to the Paying Agent/Registraz, to be effective not later than 60 days prior to the next principal of interest payment date after such notice. LZ the event that the entity at any time acting as Paying Agent/Registrar (or its successor by merger, acquisition, or other method) should resign or otherwise cease to act as such, the Issuer covenants that promptly it will appoint a competent and legally qualified bank, trust company, financial institution, or other agency to act as Paying Agent/Registraz under this Order. Upon any change in the Paying Agenl/Registrat, the previous Paying Agent/Registrar promptly shall transfer and deliver the Registration Books (or a copy thereof, along with all other pertinent books and records relating to the Bonds, to the new Paying Agent/Registrar designated and appointed by the Issuer. Upon any change in the Paying Agent/Registrar, the Issuer promptly will cause a written notice thereof to be sent by the new Paying Agent/Registrar to each registered owner of the Bonds, by United States mail, fast-class postage prepaid, which notice also shall give the address of the new Paying Agent/Registrar. By accepting the position and performing as such, each Paying Agent/Registrar shall be deemed to have agreed to the provisions of this Order, and a certified copy of this Order shall be delivered to each Paying Agent/Registrar. SECTION S. FORM OF BOND. The form of the Bond, including the form of Paying Agent/Registrat's Authentication Certificate, the form of Assignment and the form of Registration Certificate of the Comptroller of Public Accounts of the State of Texas to be attached only to the Bonds initially issued and delivered pursuant to this Order, shall be, respectively, substantially as follows, with such appropriate variations, omissions, or insertions as are permitted or required by this Order. FORM OF BOND NO. R- UNITED STATES OF AMERICA STATE OF TEXAS KERR COUNTY, TEXAS LIMITED TAX GENERAL OBLIGATION BOND SERIES 1994 DATE OF INTEREST RATE MATURITY DATE SERIES REGISTERED OWNER: February 1, 1994 PRINCIPAL AMOUNT CUSIP NO. PRINCIPAL AMOUNT: DOLLARS ON THE MATURITY DATE specified above, KERR COUNTY, TEXAS (the "Lauer" or the "County"), being a political subdivision of the State of Texas, hereby promises to pay to the Registered Owner set forth above, or registered assigns (hereinafter called the "Registered Owner") the Principal Amount set forth above, and to pay interest thereon (calculated on the basis of a 360- day year of twelve 30-day months) from February 1, 1994, at the Interest Rate per annum specified above, payable on February 15, 1995 and semiannually on each August 15 and February 15 thereafter to the Maturity Date specified above, or the date of redemption prior to maturity; except that if this Bond is required to be authenticated and the date of its authentication is later than the first Record Date (hereinafter defined), such Principal Amount shall bear interest from the interest payment date next preceding the date of authentication, unless such date of authentication is after any Record Date but on or before the next following interest payment date, in which case such Principal Amount shall bear interest from such next following interest payment date; provided, however, that ff on the date of authentication hereof the interest on the Bond or Bonds, if any, for which this Bond is being exchanged is due but has not been paid, then this Bond shall bear interest from the date to which such interest has been paid in full. THE PRINCIPAL OF AND INTEREST ON this Bond are payable in lawful money of the United States of America, without exchange or collection charges. The principal of this Bond shall be paid to the Registered Owner hereof upon presentation and surrender of this Bond at maturity or upon the date fixed for redemption prior to maturity, at the principal corporate trust office of Victoria Bank & Trust Co., Victoria, Texas, which is the "Paying Agent/Registrar" for this Bond. The payment of interest on this Bond shall be made by the Paying Agent/Registrar to the Registered Owner hereof on each interest payment date by check, dated as of such interest payment date, drawn by the Paying Agent/Registrar on, and payable solely from, funds of the Issuer required by the order authorizing the issuance of this Bond (the "Bond Order") to be on deposit with the Paying Agent/Registrarfnr such purpose as hereinafter provided; and such check shall be sent by the Paying Agent/Registrar byUnited States mail, first-class postage prepaid, on each such interest payment date, to the Registered Owner hereof, at its address as it appeared on the last business day of the month next preceding each such date (the "Record Date") on the Registration Books kept by the Paying Agent/Registrar, as hereinafter descn'bed. In addition, interest may be paid by such other method, acceptable to the Paying Agent/Registrar, requested by, and at the risk and expense of, the Registered Owner. Any accrued interest due upon the redemption of this Bond prior to maturity as provided herein shall be paid to the Registered Owner at the principal corporate trust office of the Paying Agent/Registrar upon presentation and surrender of this Bond for redemption and payment at the principal corporate trust office of the Paying Agent/Registrar (unless the redemption date is a regularly scheduled interest payment date, in which case accrued interest on such redeemed Bonds shall be payable in the regular manner described above). In the event of anon-payment of interest on a scheduled payment date, and for 30 days thereafter, a new record date for such interest payment (a "Special Record Date") will be established by the Paying Agent/Registrar, if and when funds for the payment of such interest have been received from the Issuer. Notice of the Special Record Date and of the scheduled payment date of the past due interest (the "Special Payment Date" which shall be 15 days after the Special Record Date) shall be sent at least five business days prior to the Special Record Date by United States mail, first class, postage prepaid, to the address of each owner of a Bond appearing on the books of the Paying Agent/ Registrar at the close of business on the last business day next preceding the date of mailing of such notice. The Issuer covenants with the Registered Owner of this Bond that on or before each principal and interest payment date for this Bond it will make available to the Paying Agent/Registrar, from the "Interest and Sinking Fund" created by the Bond Order, the amounts required to provide for the payment, in immediately available funds, of all principal of and interest on this Bond, when due. IF THE DATE for the payment of the principal of or interest on this Bond shall be a Saturday, Sunday, a legal holiday, or a day on which banking institutions in the city where the principal corporate trust office of the Paying Agent/Registrar is located are authorized by law or executive order to close, or the United States Postal Service is not open for business, then the date for such payment shall be the next succeeding day which is not such a Saturday, Sunday, legal holiday, or day on which banking institutions are authorized to close, or the United States Postal Service is not open for business; and payment on such date shall have the same force and effect as if made on the original date payment was due. THIS BOND is one of a series of Bonds dated February 1, 1994, authorized in accordance with the Constitution and laws of the State of Texas in the principal amount of $5,900,000 FOR THE PURPOSE OF PAYING, IN WHOLE OR IN PART, FOR COSTS INCURRED TO CONSTRUCT AND EQUIP A NEW COUNTY JAIL AND THE PURCHASE OF THE LAND RELATED THERETO, TO RENOVATE THE EXISTING COUNTY JAIL TO PROVIDE ADDITIONAL COUNTY OFFICES, AND TO PAY ALL OR A PORTION OF THE LEGAL, FISCAL AND ENGINEERING FEES IN CONNECTION WITH THIS PROJECT. ON FEBRUARY 15, 2005, or on any date thereafter, the Bonds of this Series may be redeemed prior to their scheduled maturities, at the option of the Lssuer, with funds derived from any available and lawful source, as a whole, or in part (and, if in part, the particular maturity or maturities and the principal amount of such maturity or maturities of the Bonds to be redeemed shall be selected and designated by the Issuer, and if less than all the Bonds of a particular maturity are to be redeemed, the Bonds to be redeemed shall be selected by the Paying Agent/Registrar at random and by lot, provided that a portion of a Bond may be redeemed only in an integral multiple of $5,000), at the redemption price equal to par plus accrued interest to the date fixed for redemption. AT LEAST 30 days prior to the date fixed for any redemption of Bonds or portions thereof prior to maturity a written notice of such redemption shall be sent by the Paying Agent/Registrar by United States mail, firstclass postage prepaid, to the registered owner of each Bond to be redeemed at its address as it appeared on the Registration Books maintained by the Paying AgentJRegistrar on the day such notice of redemption is mailed. Any notice of redemption so mailed shall be conclusively presumed to have been received irrespective of whether received by the registered owner. By the date fixed for any such redemption due provision shall be made with the Paying Agent/Registrar for the payment of the required redemption price for the Bonds or portions thereof which are to be so redeemed, plus accrued interest thereon to the date fixed for redemption. If such written notice of redemption is mailed and if due provision for such payment is made, all as provided above, the Bonds or portions thereof which are to be so redeemed thereby automatically shall be treated as redeemed prior to their scheduled maturities, and they shall not bear interest after the date fixed for redemption, and they shall not be regarded as being outstanding except for the right of the registered owner to receive the redemption price plus accrued interest from the Paying Agent/Registrar out of the funds provided for such payment. If a portion of any Bond shall be redeemed a substitute Bond or Bonds having the same maturity date, bearing interest at the same rate, in any denomination or denominations in any integral multiple of $5,000, at the written request of the registered owner, and in aggregate principal amount equal to the unredeemed portion thereof, will be issued to the registered owner upon the surrender thereof for cancellation, at the expense of the Issuer, all as provided in the Bond Order. ALL BONDS OF THIS SERIFS are issuable solely as fully registered Bonds, without interest coupons, in the denomination of any integral multiple of S5,000. As provided in the Bond Order, this Bond may, at the request of the Registered Owner or the assignee or assignees hereof, be assigned, transferred and exchanged for a like aggregate principal amount of fully registered Bonds, without interest coupons, payable to the appropriate Registered Owner, assignee or assignees, as the case may be, having the same denomination or denominations in any integral multiple of 55,000 as requested in writing by the appropriate Registered Owner, assignee or assignees, as the case maybe, upon surrender of this Bond to the Paying Agent/Registraz for cancellation, all in accordance with the form and procedures set forth in the Bond Order. Among other requirements for such assign- ment and transfer, this Bond must be presented and surrendered to the Paying Agent/Registrar, together with proper instruments of assignment, in form and with guarantee of signatures satisfactory to the Paying Agent/Registrar, evidencing assignment of this Bond or any portion or portions hereof in any integral multiple of $5,000 to the assignee or assignees in whose name or names this Bond or any such portion or portions hereof is or are to be registered. The form of Assignment printed or endorsed on this Bond maybe executed by the Registered Owner to evidence the assignment hereof, but such method is not exclusive, and other instruments of assignment satisfactory to the Paying Agent/Registrar may be used to evidence the assignment of this Bond or any portion or portions hereof from time to time by the Registered Owner. The Paying Agent/Registrar's reasonable standard or customary fees and charges for transferring and exchanging any Bond or portion thereof shall be paid by the Issuer, but any taxes or governmental charges required to be paid with respect thereto shall be paid by the one requesting such assignment, transfer or exchange, as a condition precedent to the exercise of such privilege. The Paying Agent/Registraz shall not be required to make any such transfer or exchange (i) during the period commencing with the close of business on any Record Date and ending with the opening of business on the next following principal or interest payment date, or (ii) with respect to any Bond or any portion thereof called for redemption prior to maturity, within 45 days prior to its redemption date; provided, however, such limitation of transfer shall not be applicable to an exchange by the Registered Owner of an unredeemed balance of a Bond called for redemption in part. IIY THE EVENT any Paying Agent/Registrar for the Bonds is changed by the Lssuer, resigns, or otherwise ceases to act as such, the Issuer has covenanted in the Bond Order that it promptly will appoint a competent and legally qualified substitute therefor, and cause written notice thereof to be mailed to the registered owners of the Bonds. IT IS HEREBY certified, recited, and covenanted that this Bond has been duly and validly authorized, issued, and delivered; that all acts, conditions, and things required or proper to be performed, exist, and be done precedent to or in the authorization, issuance, and delivery of this Bond have been performed, existed, and been done in accordance with law; that this Bond is a general obligation of the Issuer, issued on the full faith and credit thereof; and that ad valorem taxes sufficient to provide for the payment of the interest on and principal of this Bond, as such interest comes due, and as such principal matures, have been levied and ordered to be levied against all taxable property in the Issuer, and have been pledged for such payment, within the limits prescn'bed by law. THE ISSUER also has reserved the right to amend the Bond Order as provided therein, and under some (but not all) circumstances amendments thereto must be approved by the registered owners of a majority in aggregate principal amount of the outstanding Bonds. BY BECOMING the registered owner of this Bond, the Registered Owner thereby acknowledges all of the terms and provisions of the Bond Order, agrees to be bound by such terms and provisions, acknowledges that the Bond Order is duly recorded and available for inspection in the official minutes and records of the governing body of the Lcsuer, and agrees that the terms and provisions of this Bond and the Bond Order constitute a contract between each Registered Owner hereof and the Issuer. IN WITNESS WHEREOF, the Issuer has caused this Bond to be signed with the manual or facsimile signature of the County Judge of the Issuer, countersigned with the manual or facsimile signature of the County Clerk of the Issuer, and registered by the County Treasurer of the Issuer, and the official seal of the Issuer has been duly impressed, or placed in facsimile, on this Bond. (facsimile signature) County Judge, Kerr County, Texas Countersigned: (facsimile si nom) County Clerk, Kerr County, Texas Registered: (facsimile signature) County Treasurer, Kerr County, Texas (SEAL) FORM OF REGISTRATION CERTIFICATE OF THE COMPTROLLER OF PUBLIC ACCOUNT'S: COMPTROLLER'S REGISTRATION CERTIFICATE: REGISTER NO. I hereby certify that this Bond has been examined, certified as to validity, and approved by the Attorney General of the State of Texas, and that this Bond has been registered by the Comptroller of Public Accounts of the State of Texas. Witness my signature and seal this Comptroller of Public Accounts of the State of Texas (COMPTROLLER'S SEAL) FORM OF PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE PAYING AGENT/REGISTT2AR'S AUTHENTICATION CERTIFICATE (To be executed if this Bond is not accompanied by an executed Registration Certificate of the Comptroller of Public Accounts of the State of Texas) It is hereby certified that this Bond has been issued under the provisions of the Bond Order descn'bed in the text of this Bond; and that this Bond has been issued in exchange for a bond or bonds, or a portion of a bond or bonds of a series which originally was approved by the Attorney General of the State of Texas and registered by the Comptroller of Public Accounts of the State of Texas. Dated Victoria Bank & Trust Co. Victoria, Texas Paying Agent/Registrar Authorized Representative By FORM OF ASSIGNMENT: ASSIGNMENT FOR VALUE RECEIVED, the undersigned Registered Owner of this Bond, or duly authorized representative or attorney thereof, hereby assigns this Bond to or Taxpayer ation Number) or tvpewnte nsss¢nee"s name and hereby irrevocably constitutes and appoints attorney to transfer the registration of this Bond on the Paying Agent/Registrar's Registration Books with full power of substitution in the premises. Dated: Signature Guaranteed: NOTICE: Signature(s) must be guaranteed by a member firm of the New York Stock Exchange or a commercial bank or trust company. NOTICE: The signature above must correspond with the name of the Registered Owner as it appears upon the front of this Bond in every particular, without alteration or enlargement or any change whatsoever. SEC170N 6. INTEREST AND SINIONG FUND; TAX LEVY. A special Interest and Sinking Fund (the "Interest and Sinking Fund") is hereby created solely for the benefit of the Bonds, and the Interest and Sinking Fund shall be established and maintained by the Issuer at an official depository bank of the Issuer. The Interest and Sinking Fund shall be kept separate and apart from all other funds and accounts of the Lcsuer, and shall be used only for paying the interest on and principal of the Bonds. All ad valorem taxes levied and collected for and on account of the Bonds shall be deposited, as collected, to the credit of the Interest and Sinking Fund. During each year while any of the Bonds or interest thereon are outstanding and unpaid, the Commissioners Court of the Lcsuer shall compute and ascertain a rate and amount of ad valorem tax which will be sufficient to raise and produce the money required to pay the interest on the Bonds as such interest comes due, and to provide and maintain a sinking fund adequate to pay the principal of its Bonds as such principal matures (but never less than 2% of the original amount of the Bonds as a sinking fund each year); and said tax shall be based on the latest approved tax rolls of the Issuer, with full allowance being made for tax delinquencies and the wst of tax collection. Said rate and amount of ad valorem tax is hereby levied, and is hereby ordered to be levied, against all taxable property in the Issuer for each year while any of the Bonds or interest thereon are outstanding and unpaid; and said tax shall be assessed and collected each such year and deposited to the credit of the aforesaid Interest and Sinking Fund. Said ad valorem taxes sufficient to provide for the payment of the interest on and principal of the Bonds, as such interest comes due and such principal matures, are hereby pledged for such payment, within the limit prescn'bed by law. 10 SECTION 7. CONSTRUCTION FUND. There is hereby created and established in the depository bank of the Issuer a fund to be called the "Kerr County, Texas General Obligation Bonds County Jail Construction Fund - 1994" (herein called the "Construction Fund'). All proceeds of the Bonds (other than proceeds representing accrued interest on the Bonds to the date of delivery thereof which shall be deposited in the Interest and Sinking Fund) shall be deposited in the Construction Fund. Money in the Construction Fund shall be subject to disbursements by the Issuer for payment of all costs incurred in carrying out the purpose for which the Bonds are issued, including but not limited to cost for construction, engineering, architecture, acquisition of furniture and equipment, financing, financial consultants and legal services related to the projects being 5nanced with proceeds of the Bonds and the issuance of the Bonds. SECTION S. INVESTMENTS. Funds on deposit in the Interest and Sinking Fund and the Construction Fund shall be secured by the depository bank of the Issuer in the manner and to the extent required by law to secure other public funds of the Issuer and may be invested from time to time in any investment authorized in the Public Funds Investment Act, Chapter 2256, Texas Government Code, at the direction of the County Judge, County Treasurer, County Auditor or County Clerk of the Issuer; provided, however, that investments purchased for and held in the Interest and Sinking Fund shall have a final maturity no later than the next principal or interest payment date on which such funds will be needed, and investments purchased for and held in the Construction Fund shall have a final maturity of not later than the date the Issuer reasonably expects the funds from such investments will be required to pay costs of the project for which the Bonds were issued. Income and profits from such investments shall be deposited in the respective Fund which holds such investments; however, any such income and profits from investments in the Construction Fund may be withdrawn by the Issuer (at the direction of the County Judge, County Treasurer, County Auditor or County Clerk of the Issuer) and deposited in the Interest and Sinking Fund to pay all or a portion of the interest next coming due on the Bonds. It is further provided, however, that any interest earnings on bond proceeds which are required to be rebated to the United States of America pursuant to Section 12 hereof in order to prevent the Bonds from being arbitrage bonds shall be so rebated and not considered as interest earnings for the purposes of this Section. SECTION 9. DEFEASANCE OF BONDS. (a) Any Bond and the interest thereon shall be deemed to be paid, retired, and no longer outstanding (a "Defeased Bond") within the meaning of this Order, except to the extent provided in subsection (d) of this Section, when payment of the principal of such Bond, plus interest thereon to the due date (whether such due date be by reason of maturity or otherwise) either (i) shall have been made or caused to be made in accordance with the terms thereof, or (ii) shall have been provided for on or before such due date by irrevocably depositing with or making available to the Paying Agent/Registrarfnr such payment (1) lawful money of the United States of America sufficient to make such payment or (2) Government Obligations which mature as to principal and interest in such amounts and at such times as will insure the availability, without reinvestment, of sufficient money to provide for such payment, and when proper arrangements have been made by the Lcsuer with the Paying Agent/Registrar for the payment of its services until all Defeased Bonds shall have become due and payable. At such time as a Bond shall be deemed to be a Defeased Bond hereunder, as aforesaid, such Bond and the interest thereon shall no longer be secured by, payable from, or entitled to the benefits of, the ad valorem taxes herein levied and pledged as provided in this Order, and such principal and interest shall be payable solely from such money or Government Obligations. 11 (b) Any moneys so deposited with the Paying Agent/Registrar may at the written dvection of the Issuer also be invested in Government Obligations, maturing in the amounts and times as hereinbefore set forth, and all income from such Government Obligations received by the Paying Agent/Registrar which is not required for the payment of the Bonds and interest thereon, with respect to which such money has been so deposited, shall be turned over to the Issuer, or deposited as directed in writing by the Issuer. (c) The term "Government Obligations" as used in this Section, shall mean duect obligations of the United States of America, including obligations the principal of and interest on which are unconditionally guaranteed by the United States of America, which may be United States Treasury obligations such as its State and Local Government Series, which may be in bookcntry form. (d) Until all Defeased Bonds shall have become due and payable, the Paying Agent/Registrar shall perform the services of Paying Agent/Registrartor such Defeased Bonds the same as if they had not been defeased, and the Issuer shall make proper arrangements to provide and pay for such services as required by this Order. SECnoN 10. DAMAGED, MUTILATED, LOST, STOLEN, OR DESTROYED BONDS. (a) Replacement Bonds. In the event any outstanding Bond is damaged, mutilated, lost, stolen, or destroyed, the Paying Agent/Registrat shall cause to be printed, executed, and delivered, a new bond of the same principal amount, maturity, and interest rate, as the damaged, mutilated, lost, stolen, or destroyed Bond, in replacement for such Bond in the manner hereinafter provided. (b) Application for Replacement Bonds. Application for replacement of damaged, mutIlated, lost, stolen, or destroyed Bonds shall be made by the registered owner thereof to the Paying Agent/Registrar. In every case of loss, theft, or destruction of a Bond, the registered owner applying for a replacement bond shall furnish to the Issuer and to the Paying Agent/Registrar such security or indemnity as may be required by them to save each of them harmless from any loss or damage with respect thereto. Also, in every case of loss, theft, or destruction of a Bond, the registered owner shall furnish to the Issuer and to the Paying Agent/Registrarvvidence to their satisfaction of the loss, theft, or destruction of such Bond, as the case may be. In every case of damage or mutilation of a Bond, the registered owner shall surrender to the Paying Agent/Registrar for cancellation the Bond so damaged or mutilated. (c) No Default Occurred. Notwithstanding the foregoing provisions of this Section, in the event any such Bond shall have matured, and no default has occurred which is then continuing in the payment of the principal of or interest on the Bond, the Issuer may authorize the payment of the same (without surrender thereof except in the case of a damaged or mutilated Bond) instead of issuing a replacement Bond, provided security or indemnity is furnished as above provided in this Section. (d) Char¢e for Issuing Replacement Bonds. Prior to the issuance of any replacement bond, the Paying Agent/Registrar shall charge the registered owner of such Bond with all legal, printing, and other expenses in connection therewith. Every replacement bond issued pursuant to the provisions of this Section by virtue of the fact that any Bond is lost, stolen, or destroyed shall constitute a contractual obligation of the Issuer whether or not the lost, stolen, or destroyed Bond shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of this Order equally and proportionately with any and all other Bonds duly issued under this Order. 12 (e) Authority for Issuing Replacement Bonds. In accordance with Section 6 of Vernon's Ann. Tex. Civ. St. Art. 717k-6, this Section of this Order shall constitute authority for the issuance of any such replacement bond without necessity of further action by the governing body of the Issuer or any other body or person, and the duty of the replacement of such bonds is hereby authorized and imposed upon the Paying Agent/Registrar, and the Paying Agent/Registrar shall authenticate and deliver such Bonds in the form and manner and with the effect, as provided in Section 4(a) of this Order for Bonds issued in exchange for other Bonds. SECiTON 11. CUSTODY, APPROVAL,' AND REGISTRATION OF BONDS; BOND COUNSEL'S OPINION; BOND INSURANCE; AND CUSIP NUMBERS. The County Judge of the Issuer is hereby authorized to have control of the Bonds initially issued and delivered hereunder and all necessary records and proceedings pertaining to the Bonds pending their delivery and their investigation, examination, and approval by the Attorney General of the State of Texas, and their registration by the Comptroller of Public Accounts of the State of Texas. Upon registration of the Bonds said Comptroller of Public Accounts (or a deputy designated in writing to act for said Comptroller) shall manually sign the Comptroller's Registration Certificate attached to such Bonds, and the seal of said Comptroller shall be impressed, or placed in facsimile, on such Certificate. The approving legal opinion of the Issuer's Bond Counsel (with an appropriate certificate pertaining thereto executed by facsimile signature of the County Clerk of the Issuer), a statement regarding the issuance of a municipal bond insurance policy to secure payment of debt service on the Bonds, if any, and the assigned CUSIP numbers may, at the option of the Issuer, be printed on the Bonds issued and delivered under this Order, but neither shall have any legal effect, and shall be solely for the convenience and information of the registered owners of the Bonds. SECTION 12. COVENANTS REGARDING TAX-EXEMPTION OF INTEREST ON THE BONDS. The Issuer covenants not to take any action or refrain from taking any action which would adversely affect the treatment of the Bonds as obligations described in section 103 of the Internal Revenue Code of 1986, as amended (the "Code"), the interest on which is not includable in the "gross income" of the holder for purposes of federal income taxation. In furtherance thereof, the Issuer covenants as follows: (a) to take any action to assure that no more than 10 percent of the proceeds of the Bonds or the projects financed therewith (less amounts deposited to a reserve fund, if any) are used for any "private business use," as defined in section 141(6)(6) of the Code or, if more than 10 percent of the proceeds or the projects financed therewith are so used, such amounts, whether or not received by the Issuer, with respect to such private business use, do not, under the terms of this Order or any underlying arrangement, directly or indirectly, secure or provide for the payment of more than 10 percent of the debt service on the Bonds, in contravention of section 141(6)(2) of the Code; (b) to take any action to assure that in the event that the "private business use" described in subsection (a) hereof exceeds 5 percent of the proceeds of the Bonds or the projects financed therewith (less amounts deposited into a reserve fund, if any) then the amount in excess of 5 percent is used fora "private business use" which is "related" and not "disproportionate," within the meaning of section 141(6)(3) of the Code, to the governmental use; 13 (c) to take any action to assure that no amount which is greater than the lesser of 55,000,000, or 5 percent of the proceeds of the Bonds (less amounts deposited into a reserve fund, if any) is directly or indirectly used to finance loans to persons, other than state or local governmental units, in contravention of section 141(c) of the Code; (d) to refrain from taking any action which would otherwise result in the Bonds being treated as "private activity bonds" within the meaning of section 141(6) of the Code; (e) to refrain from taking any action that would result in the Bonds being "federally guaranteed" within the meaning of section 149(6) of the Code; (f) to refrain from using any portion of the proceeds of the Bonds, directly or indirectly, to acquire or to replace funds which were used, directly or indirectly, to acquire investment property (as defined in section 148(6)(2) of the Code) which produces a materially highec yield over the term of the Bonds, other than investment property acquired with -- (1) proceeds of the Bonds invested for a reasonable temporary period of 3 years or less or, in the case of a refunding bond, for a period of 30 days or less until such proceeds are needed for the purpose for which the bonds are issued, (2) amounts invested in a bona Ede debt service fund, within the meaning of section 1.148-1(b) of the Treasury Regulations, and (3) amounts deposited in any reasonably required reserve or replacement fund to the extent such amounts do not exceed 10 percent of the proceeds of the Bonds; (g) to otherwise restrict the use of the proceeds of the Bonds or amounts treated as proceeds of the Bonds, as may be necessary, so that the Bonds do not otherwise contravene the requirements of section 148 of the Code (relating to arbitrage) and, to the extent applicable, section 149(d) of the Code (relating to advance refundings); (h) to pay to the United States of America at least once during each five-year period (beginning on the date of delivery of the Bonds) an amount that is at least equal to 90 percent of the "Excess Earnings," within the meaning of section 148(f) of the Code and to pay to the United States of America, not later than 60 days after the Bonds have been paid in full, 100 percent of the amount then required to be paid as a result of Excess Earnings under section 148(f) of the Code; and (i) to maintain such records as will enable the Issuer to fulfill its responsibilities under this section and section 148 of the Code and to retain such records for at least six years following the final payment of principal and interest on the Bonds. In order to facilitate compliance with the above covenants (h) and (i), a "Rebate Fund" is hereby be established by the Issuer for sole benefit of the United States of America, and such fund shall not be subject to the claim of any other person, including without limitation the bondholders. The Rebate Fund is established for the additional purpose of compliance with section 148 of the Code. 14 It is the understanding of the Issuer that the covenants contained herein are intended to assure compliance with the Code and any regulations or rulings promulgated by the U.S. Department of the Treasury pursuant thereto. In furtherance of such intention, the Issuer hereby authorizes and directs the County Judge, the County Treasurer and the County Clerk of the Issuer to execute any documents, certificates or reports required by the Code and to make such elections, on behalf of the Issuer, which may be permitted by the Code as are consistent with the purpose for the issuance of the Bonds. In the event that regulations or rulings are hereafter promulgated which modify or expand provisions of the Code, as applicable to the Bonds, the Issuer will not be required to comply with any covenant contained herein to the extent that such failure to comply, in the opinion of nationally-recognized bond counsel, will not adversely affect the exemption from federal income taxation of interest on the Bonds under section 103 of the Code. In the event that regulations or rulings are hereafter promulgated which impose additional requirements which are applicable to the Bonds, the Issuer agrees to comply with the additional requirements to the extent necessary, in the opinion of nationally-recognized bond counsel, to preserve the exemption from federal income taxation of interest on the Bonds under section 103 of the Code. SECTION 13. DESIGNATION AS QUALIFIED TAX-EXEMPT OBLIGATIONS. The Issuer hereby designates the Bonds as "qualified tax-exempt obligations" as defined in Section 265(b)(3) of the Code. In furtherance of such designation, the Issuer represents, covenants and warrants the following: (a) that during the calendar year in which the Bonds are issued, the Issuer (including any subordinate entities) has not designated nor will designate bonds or other obligations, which when aggregated with the Bonds, will result in more than $10,000,000 of "qualified tax-exempt obligations" being issued; (b) that the Issuer reasonably anticipates that the amount of tax-exempt obligations issued during the calendar year in which the Bonds are issued by the Issuer (or any subordinate entities) will not exceed $10,000,000; and (c) that the Issuer will take such action or refrain from such action as necessary, and as more particularly set forth in Section 12 hereof, in order that the Bonds will not be considered "private activity bonds' within the meaning of Section 141 of the Code. SECTION 14. SALE OF BONDS. The Bonds are hereby initially sold and shall be delivered to LaSalle National Bank, Chicago, Illinois, for cash for the par value thereof, plus a premium of $54.30, plus accrued interest thereon from February 1, 1994 to date of delivery. The Bonds shall initially be registered in the name of LaSalle National Bank. It is hereby officially found, determined, and declared that said purchaser is the highest bidder for the Bonds as a result of invitations for competitive bids. It is further officially found, determined, and declared that the Bonds have been sold at public sale to the respective bidders offering the lowest interest cost, after receiving sealed bids pursuant to an Official Notice of Sale and Bidding Instructions and the Official Statement dated January 15, 1994, prepared and distributed in connection with the sale of the Bonds. Said Official Notice of Sale and Bidding Instructions and Official Statement, and any addenda, supplement, or amendment thereto have been and are hereby approved by the governing body of the Issuer, and their use in the offer and sale of the Bonds is hereby approved. The Issuer hereby declares that the Official Statement was, and the supplement related thereto is, "deemed final" as of their respective dates within the meaning, and for the purposes, of Rule 15c2-12 promulgated under authority granted by the federal Securities and Exchange Act of 1934. It is further officially found, determined, and declared that the statements and representations contained in said Official Notice of Sale and Bidding Instructions and Official Statement are true and correct in all material respects, to the best knowledge and belief of the governing body of the Issuer. 15 SECTTON 15. FURTHER PROCEDURES. The County Judge, County Treasurer, County Auditor and County Clerk of the Issuer, and all other officers, employees, and agents of the Issuer, and each of them, shall be and they are hereby expressly authorized, empowered, and directed from time to time and at any time to do and perform all such acts and things and to execute, acknowledge, and deliver in the name and under the corporate seal and on behalf of the Lauer all such instruments, whether or not herein mentioned, as may be necessary or desirable in order to carry out the terms and provisions of this Order, the Bonds, and the sale of the Bonds. In case any officer whose signature shall appear on any Bond shall cease to be such officer before the delivery of such Bond, such signature shall nevertheless be valid and sufficient for all purposes the same as if such officer had remained in office until such delivery. Furthermore, at any time prior to the delivery of the Bonds the County Judge and County Clerk of the Issuer each are hereby individually authorized and directed to approve any changes or corrections to this Order or to any of the instruments authorized and approved by this Order necessary in order to (i) correct any ambiguity or mistake or properly or more completely document the transaction contemplated and approved by this Order, (ii) obtain a rating from any of the national bond rating agencies, or (iii) obtain the approval of the Bonds by the Texas Attorney General's office. Secrrow 16. ORDER A CONTRACT; AMENDMENTS. This Order shall constitute a contract with the Registered Owners of the Bonds, binding on the Issuer and its successors and assigns, and shall not be amended or repealed by the Issuer as long as any Bond remains outstanding except as permitted in this Section. The Issuer may, without the consent of or notice to any registered owners, amend, change, or modify this Order as may be required (i) by the provisions hereof, (ii) for the purpose of curing any ambiguity, inconsistency, or formal defect or omission herein, or (iii) in connection with any other change which is not to the prejudice of the registered owners. The Issuer may, with the written consent of the registered owners of a majority in aggregate principal amount of the Bonds then outstanding affected thereby, amend, change, modify, or rescind any provisions of this Order; provided that without the consent of all of the registered owners affected, no such amendment, change, modification, or rescission shall (i) extend the time or times of payment of the principal of and interest on the Bonds, reduce the principal amount thereof or the rate of interest thereon, (ii) give any preference to any Bond over any other Bond, (ii) extend any waiver of default to subsequent defaults, or (iv) reduce the aggregate principal amount of Bonds required for consent to any such amendment, change, modification, or rescission. Whenever the Issuer shall desire to make any amendment or addition to or rescission of this Order requiring consent of the registered owners, the Issuer shall cause notice of the amendment, addition, or rescission to be sent by first class mail, postage prepaid, to the registered owners at the respective addresses shown on the Registration Books. Whenever at any time within one year after the date of the giving of such notice, the Issuer shall receive an instrument or instruments in writing executed by the registered owners of a majority in aggregate principal amount of the Bonds then outstanding affected by any such amendment, addition, or rescission requiring the consent of the registered owners, which instrument or instruments shall refer to the proposed amendment, addition, or rescission described in such notice and shall specifically consent to and approve the adoption thereof in substantially the form of the copy thereof referred to in such notice, thereupon, but not otherwise, the Issuer may adopt such amendment, addition, or rescission in substantially such form, except as herein provided. No registered owner may thereafter object to the adoption of such amendment, addition, or rescission, or to any of the provisions thereof, and such amendment, addition, or rescission shall be fully effective for all purposes. 16 SECTION 17. INCORPORATION OF RECITALS. The Issuer hereby finds that the statements set forth in the recitals of this Order are true and correct, and the Issuer hereby incorporates such recitals as a part of this Order. SECTION 18. EFFECTIVE DATE. This Order shall become effective immediately after its adoption. PASSED AND APPROVED BY THE COMMISSIONERS COURT OF KERR COUNTY, TEXAS ON THE 8TH DAY OF FEBRUARY. ~~ County Judge, Kerr Coun ,Texas ATTEST: unty Cler 'Kerr Count exas ^- (SEAL .i, 17 CERTIFICATE FOR ORDER THE STATE OF TEXAS COUNTY OF KERR I, the undersigned County Clerk of Ken County, Texas (the "County"), hereby certify as follows: 1. The Commissioners Court of the County convened in REGULAR TERM ON THE 8TH DAY OF FEBRUARY, 1994, at the County Courthouse, and the roll was called of the duly constituted officers and members of said Commissioners Court, to wit: W.G. "Bill" Stacy, County Judge Glenn K Holekamp, Precinct 3 Ray Lehman, Precinct 1 Bruce Oehler, Precinct 4 T.H. "Butch" Lackey, Precinct 2 and all of said persons were present, except the following absentees: ~ 61t,~ thus constituting a quorum. Whereupon, among other business, the following was transacted at said Meeting: a written ORDER AUTHORIZING THE ISSUANCE OF KERR COUNTY, TEXAS LIMITED TAX GENERAL OBLIGATION BONDS, SERIES 1994, AND APPROVING AND AUTHORIZING ALL OTHER INSTRUMENTS AND PROCEDURES RELATED THERETO (the "Order") was duly introduced for the wnsideration of said Commissioners Court. It was then duly moved and seconded that the Order be adopted; and, after due discussion, said motion carrying with it the adoption of the Order, prevailed and carried by the following vote: AYES: ~'? NOES: _~ ABSTENTIONS: 2. A true, full and correct copy of the aforesaid Order adopted at the Meeting described in the above and foregoing paragraph is attached to and follows this Certificate; the Order has been duly recorded in said Commissioners Court's minutes of said Meeting; the above and foregoing paragraph is a true, full and correct excerpt from said Commissioners Court's minutes of said Meeting pertaining to the passage of the Order; the persons named in the above and foregoing paragraph are the duly chosen, qualified and acting officers and members of said Commissioners Court as indicated therein; each of the officers and members of said Commissioners Court was duly and sufficiently notified officially and personally, in advance, of the time, place and purpose of the aforesaid Meeting, and the Order would be introduced and wnsidered for passage at said Meeting, and each of said officers and member, consented, in advance, to the holding of said Meeting for such purpose, and said Meeting was open to the public and public notice of the time, place and purpose of said meeting was given, atl as required by Chapter 551, Texas Government Code. SIGNED AND SEALED the 8th day of February, 1994. (SEAL) County Clerk , COMM f SS i QNERS' COURT AGENJA REQUEST API FASE FURNISH ONE ORiG1NAL AND F1VE COPIE~OF THIS REQUEST AND DOCUMENTS TO BE REVIEWED BY THE COURT Sob Henderson and MADE BY: Mark McLiney, Tim Kelly from OFFICE: Rauscher Pierce Refsnes, Inc. ~Q, MEETING DATE: February s, 1994 TIME PREFERRED: 8 H•M SUBJECT: (PLEASE BE SPECIFIC) ORDER AUTHORIZING THE ISSUANCE OF KERR COUNTY, TEXAS LIMITED TAX GENERAL OBLIGATION BONDS, SERIES 1994, AND APPROVING AND AUTHORIZING ALL OTHER INSTRUMENTS AND PROCEDUR THERETO. EXECUTIVE SESSION REQUESTED: YES NO PLEASE STATE REASON FOR EXECUTIVE SESSION ESTIMATED LENGTH OF PRESENTATION: PERSONNEL MATTER - NAME OF EMPLOYEE: NAME OF PERSON ADDRESSING THE COURT: Tfine for submitting this request for Court to assure that the matter is posted 1n accordance with Artlcie 6252-17 is as follows: ~ Meetings held on Monday: 12:00 P.M. previous Wednesday THIS REQUEST RECEIVED BY: THIS REQUEST RECEIVED ON : ~ All Agenda Requests will be screened by the County Judge's Office to determine tf adequate inform atlon has been prepared for the Court's formal consideration and action at time of Court meetings. Your cooperation will be appreciated and contribute towards your request being addressed at the earliest opportunity. See Agenda Request Guidelines. ~~~ ~~~~ Law Offices McCALL,, PARKHURST & NORTON I...L.P. 1225 One Riverwalk Place 7(MI North St. Mary's San Antonio, Texas 78205 (210) 225-2800 FAX NO. (2I0} 225-2984 TO: FROM: DATE: FILE NO: Patricia Dye Kathy Cooper 2/2J94 _1_ PAGES, INCLUDING COVER SHEET PLEASE ADVISE IF TRANSMISSION ERROR OCCURS. (2J 0) 225-2800 REMINDER Effective June 28, 1993 we have moved to Suite 1225 Dear Pat: We were unahle to avemighr the fintancirtg documents for delivery today. You should receive them tomorrow. The following language .should appear as an agenda item for the Cammissivner's Court meetin~• ORDER AUrIIORIZING THE ISSUANCE OF KF,RR COUNTY, TEXAS LIMITED TAX GFNF'RAI. OBLIGATION BONDS, SERIES 1994, AND APPROVING AND AUTHORIZING AI.L OTIIER INSTRUMENTS AND PROCEDURES RELATED TFI'EIZE7ID pFFIC1AL BID FARM County Judge and Commissioners Ceurt February 8, 1991 Kerr County ([he "Issuer^) 100 Main Kerrville, Tc%as 78028 Dta[ tadiu and Gentlemen: Subject to the terms of your OCficiM Notice of Sate and OCfidal Statement. dated January 15, 199d which terms art incorpofated by t terence to this proposal, we hereby submit the following bid for 35,900,000 KERR COUNTY, TEXAS, LIMITED TAX GENERAL OBLIGATION $ONDS, SGR[ES 1994, dated February 1, 1'194 (the "Hoods"), Fur sail legally issued Honda, we will pay you the par value rhereel, plus e