Ordinance 2026-20ORDINANCE NO. 2026-20
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF WYLIE, TEXAS,
.VM AUTHORIZING THE ISSUANCE OF "CITY OF WYLIE, TEXAS, GENERAL
OBLIGATION BONDS, SERIES 2026," SPECIFYING THE TERMS AND
FEATURES OF SAID BONDS; LEVYING A CONTINUING DIRECT ANNUAL
AD VALOREM TAX FOR THE PAYMENT OF SAID BONDS; AND RESOLVING
OTHER MATTERS INCIDENT AND RELATED TO THE ISSUANCE, SALE,
PAYMENT AND DELIVERY OF SAID BONDS, INCLUDING THE APPROVAL
AND EXECUTION OF A PAYING AGENT/REGISTRAR AGREEMENT AND
THE APPROVAL AND DISTRIBUTION OF AN OFFICIAL STATEMENT; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Council of the City of Wylie, Texas (the "City") hereby finds and determines
that general obligation bonds in the principal amount of $13,385,000 approved and authorized to be issued
at an election held in the City on November 2, 2021 should be issued and sold at this time; a summary of
the bonds approved by the voters at said election, the principal amounts authorized and respective purposes
therefor, amounts heretofore issued and being issued pursuant to this ordinance and the amounts remaining
to be issued subsequent hereto being as follows:
Amount
Principal
Election
Amount
Previously
Amount Being
Premium
Unissued
Date
Purpose
Authorized (S)
Issued S
Issued S
Applied ($)*
Balance (S)
11-2-2021
McMillen Dr, Park Blvd &
Ballard/Sachse Road
35,100,000
17,500,000
6,690,000
310,000
10,600,000
improvements (Prop. A)
am l 1-2-2021
General street improvements
(Prop. B)
10,000,000
4,000,000
2,870,000
130,000
3,000,000
11-2-2021
Downtown historic district
street improvements (Prop C)
5,000,000
1,000,000
3,825,000
175,000
0
Totals:
50,100,000
22,500,000
13,385,000
615,000
13,600,000
*Original issue premium in the amount of $310,000 allocated to the specific street improvements authorized in Prop. A is applied
against Prop. A and results in a total amount of $7,000,000 being applied against Prop. A;
original issue premium in the amount of S 130,000 allocated to the general street improvements authorized in Prop. B is applied
against Prop. B and results in a total amount of S3,000,000 being applied against Prop. B; and
original issue premium in the amount of S 175,000 allocated to the general street improvements authorized in Prop. C is applied
against Prop. C and results in a total amount of $4,000,000 being applied against Prop. C.
WHEREAS, the City Council hereby reserves and retains the right to issue the balance of unissued
bonds approved at said election in one or more installments when, in the judgment of the City Council,
funds are needed to accomplish the purposes for which such bonds were voted; and
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
WYLIE, TEXAS:
SECTION 1: Authorization - Designation - Principal Amount - Purpose. General obligation
bonds of the City shall be and are hereby authorized to be issued in the aggregate principal amount of
$13,385,000 to be designated and bear the title "CITY OF WYLIE, TEXAS, GENERAL OBLIGATION
BONDS, SERIES 2026" (hereinafter referred to as the "Bonds"), for the purposes of providing funds for
..... (1) permanent public improvements and public purposes, to wit: (a) developing, engineering, constructing,
302665169.3/1001364201
reconstructing, improving, repairing, extending, expanding and enhancing McMillen Drive, Park
Boulevard and Ballard/Sachse Road, including sidewalks and necessary and related storm drainage
facilities and improvements, utility relocations and the acquisition of any needed land and rights -of -way
therefor, (b) developing, engineering, constructing, reconstructing, improving, repairing, extending,
expanding and enhancing streets, thoroughfares, alleys and sidewalks, including necessary and related
storm drainage facilities and improvements, utility relocations and the acquisition of any needed land and
rights -of -way therefor and (c) developing, engineering, constructing, reconstructing, improving, repairing,
extending, expanding and enhancing streets, thoroughfares, alleys and sidewalks in the Wylie downtown
historic district, including necessary and related storm drainage facilities and improvements, utility
relocations, street lighting, signage, noise abatements, traffic signalization and controls equipment and the
acquisition of any needed land and rights -of -way therefor; and (ii) to pay costs of issuance, in accordance
with the Constitution and laws of the State of Texas including Chapter 1331, as amended, of the Texas
Government Code.
SECTION 2: Fully Registered Obligations - Bond Date - Authorized Denominations -
Stated Maturities - Interest Rates. The Bonds shall be issued as fully registered obligations only, shall
be dated May 1, 2026 (the "Bond Date"), shall be in denominations of $5,000 or any integral multiple
(within a Stated Maturity) thereof, and shall become due and payable on February 15 in each of the years
and in principal amounts (the "Stated Maturities") and bear interest at the rates per annum in accordance
with the following schedule:
Year of
Principal
Interest
Stated Maturity
Amount ($)
Rates
2027
295,000
5.000
2028
430,000
5.000
2029
450,000
5.000
2030
475,000
5.000
2031
500,000
5.000
2032
525,000
5.000
2033
550,000
5.000
2034
580,000
5.000
2035
610,000
5.000
2036
640,000
5.000
2037
670,000
5.000
2038
705,000
5.000
2039
740,000
5.000
2040
780,000
5.000
****
****
****
2043
2,550,000
4.000
****
****
****
2046
2,885,000
4.250
The Bonds shall bear interest on the unpaid principal amounts from the date of the initial delivery
of the Bonds (anticipated to be June 9, 2026) at the rates per annum shown above in this Section (calculated
on the basis of a 360-day year of twelve 30-day months). Interest on the Bonds shall be payable on February
15 and August 15 in each year until maturity or prior redemption, commencing February 15, 2027.
SECTION 3: Terms of Payment - Paying Agent/Registrar. The principal of, premium, if any,
and the interest on the Bonds, due and payable by reason of maturity, redemption or otherwise, shall be
payable only to the registered owners or holders of the Bonds (hereinafter called the "Holders") appearing
Ordinance No. 2026-20 — General Obligation Bond Issuance 2026 Page 2 Of 27
302665169.3/1001364201 �.
on the Security Register (as defined herein) maintained by the Paying Agent/Registrar and the payment
thereof shall be in any coin or currency of the United States of America which at the time of payment is
legal tender for the payment of public and private debts, and shall be without exchange or collection charges
to the Holders.
The selection and appointment of The Bank of New York Mellon Trust Company, N.A., Houston,
Texas, to serve as Paying Agent/Registrar for the Bonds is hereby approved and confirmed. Books and
records relating to the registration, payment, exchange and transfer of the Bonds (the "Security Register")
shall at all times be kept and maintained on behalf of the City by the Paying Agent/Registrar, all as provided
herein, in accordance with the terms and provisions of a "Paying Agent/Registrar Agreement," substantially
in the form attached hereto as Exhibit A and such reasonable rules and regulations as the Paying
Agent/Registrar and the City may prescribe. The Mayor or Mayor Pro Tem and City Secretary of the City
are hereby authorized to execute and deliver such Paying Agent/Registrar Agreement in connection with
the delivery of the Bonds. The City covenants to maintain and provide a Paying Agent/Registrar at all
times until the Bonds are paid and discharged, and any successor Paying Agent/Registrar shall be a
commercial bank, trust company, financial institution or other entity qualified and authorized to serve in
such capacity and perform the duties and services of Paying Agent/Registrar. Upon any change in the
Paying Agent/Registrar for the Bonds, the City agrees to promptly cause a written notice thereof to be sent
to each Holder by United States mail, first-class, postage prepaid, which notice shall also give the address
of the new Paying Agent/Registrar.
Principal of and premium, if any, on the Bonds shall be payable at the Stated Maturities or upon
the earlier redemption thereof, only upon presentation and surrender of the Bonds to the Paying
Agent/Registrar at its designated office initially in Pittsburgh, Pennsylvania; or, with respect to a successor
Paying Agent/Registrar, at the designated offices of such successor (the "Designated Payment/Transfer
Office"). Interest on the Bonds shall be paid to the Holders whose names appear in the Security Register
at the close of business on the Record Date (the last business day of the month next preceding each interest
payment date) and shall be paid by the Paying Agent/Registrar (1) by check sent United States mail, first-
class, postage prepaid, to the address of the Holder recorded in the Security Register or (ii) by such other
method, acceptable to the Paying Agent/Registrar, requested by, and at the risk and expense of, the Holder.
If the date for the payment of the principal of or interest on the Bonds shall be a Saturday, Sunday, a legal
holiday, or a day when banking institutions in the city where the Designated Payment/Transfer Office of
the Paying Agent/Registrar is located are authorized by law or executive order to be closed, then the date
for such payment shall be the next succeeding day which is not such a Saturday, Sunday, legal holiday, or
day when such banking institutions are authorized to be closed; and payment on such date shall have the
same force and effect as if made on the original date payment was due.
In the event of a non-payment of interest on a scheduled payment date, and for thirty (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
City. Notice of the Special Record Date and of the scheduled payment date of the past due interest (which
shall be fifteen (15) days after the Special Record Date) shall be sent at least five (5) business days prior to
the Special Record Date by United States mail, first-class, postage prepaid, to the address of each Holder
appearing on the Security Register at the close of business on the last business day next preceding the date
of mailing of such notice.
SECTION 4: Redemption.
(a) Optional Redemption. The Bonds having Stated Maturities on and after February 15, 2036,
shall be subject to redemption prior to maturity, at the option of the City, in whole or in part in principal
amounts of $5,000 or any integral multiple thereof (and if within a Stated Maturity by lot by the Paying
Ordinance No. 2026-20 — General Obligation Bond Issuance 2026 Page 3 of 27
302665169.3/1001364201 3
Agent/Registrar), on February 15, 2035, or on any date thereafter, at the redemption price of par plus
accrued interest to the date of redemption.
At least forty-five (45) days prior to a redemption date for the Bonds (unless a shorter notification
period shall be satisfactory to the Paying Agent/Registrar), the City shall notify the Paying Agent/Registrar
of the decision to redeem Bonds, the principal amount of each Stated Maturity to be redeemed, and the date
of redemption therefor. The decision of the City to exercise the right to redeem Bonds shall be entered in
the minutes of the governing body of the City.
(b) Mandatory Redemption. The Bonds having Stated Maturities of February 15 in the years
2043 and 2046 (collectively, the "Term Bonds") shall be subject to mandatory redemption in part prior to
maturity at the redemption price of par and accrued interest to the date of redemption on the respective
dates and in principal amounts as follows:
Term Bonds due February 15. 2043
Redemption Date
February 15, 2041
February 15, 2042
February 15, 2043 (maturity)
Term Bonds due February 15,
2046
Principal
Principal
Amount ($)
Redemption Date
Amount ($)
815,000
February 15, 2044
920,000
850,000
February 14, 2045
960,000
885,000
February 15, 2046 (maturity)
1,005,000
At least forty-five (45) days prior to the mandatory redemption date for the Term Bonds, the Paying
Agent/Registrar shall select by lot the numbers of the Term Bonds to be redeemed on the next following
February 15 from moneys set aside for that purpose in the Interest and Sinking Fund (as hereinafter defined).
Any Term Bond not selected for prior redemption shall be paid on the date of its Stated Maturity.
The principal amount of the Term Bonds required to be redeemed on a mandatory redemption date
may be reduced, at the option of the City, by the principal amount of Term Bonds which, at least fifty (50)
days prior to the mandatory redemption date, (1) shall have been acquired by the City at a price not
exceeding the principal amount of such Term Bonds plus accrued interest to the date of purchase thereof,
and delivered to the Paying Agent/Registrar for cancellation or (2) shall have been redeemed pursuant to
the optional redemption provisions set forth in paragraph (a) of this Section and not theretofore credited
against a mandatory redemption requirement.
(c) Selection of Bonds for Redemption. If less than all Outstanding Bonds of the same Stated
Maturity are to be redeemed on a redemption date, the Paying Agent/Registrar shall treat such Bonds as
representing the number of Bonds Outstanding which is obtained by dividing the principal amount of such
Bonds by $5,000 and shall select the Bonds, or principal amount thereof, to be redeemed within such Stated
Maturity by lot.
(d) Notice of Redemption. Not less than thirty (30) days prior to a redemption date for the
Bonds, a notice of redemption shall be sent by United States mail, first-class, postage prepaid, in the name
of the City and at the City's expense, to each Holder of a Bond to be redeemed in whole or in part at the
address of the Holder appearing on the Security Register at the close of business on the business day next
preceding the date of mailing such notice, and any notice of redemption so mailed shall be conclusively
presumed to have been duly given irrespective of whether received by the Holder.
All notices of redemption shall (i) specify the date of redemption for the Bonds, (ii) identify the
Bonds to be redeemed and, in the case of a portion of the principal amount to be redeemed, the principal
amount thereof to be redeemed, (iii) state the redemption price, (iv) state that the Bonds, or the portion of
the principal amount thereof to be redeemed, shall become due and payable on the redemption date
specified, and the interest thereon, or on the portion of the principal amount thereof to be redeemed, shall
Ordinance No. 2026-20 — General Obligation Bond Issuance 2026 Page 4 of 27
302665169.3/1001364201 4
cease to accrue from and after the redemption date, and (v) specify that payment of the redemption price
for the Bonds, or the principal amount thereof to be redeemed, shall be made at the Designated
Payment/Transfer Office of the Paying Agent/Registrar only upon presentation and surrender thereof by
emm the Holder. If a Bond is subject by its terms to prior redemption and has been called for redemption and
notice of redemption thereof has been duly given as hereinabove provided, such Bond (or the principal
amount thereof to be redeemed) shall become due and payable and interest thereon shall cease to accrue
from and after the redemption date therefor; provided moneys sufficient for the payment of such Bond (or
of the principal amount thereof to be redeemed) at the then applicable redemption price are held for the
purpose of such payment by the Paying Agent/Registrar.
(e) Conditional Notice of Redemption. With respect to any optional redemption of the Bonds,
unless moneys sufficient to pay the principal of and premium, if any, and interest on the Bonds to be
redeemed shall have been received by the Paying Agent/Registrar prior to the giving of such notice of
redemption, such notice may state that said redemption is conditional upon the receipt of such moneys by
the Paying Agent/Registrar on or prior to the date fixed for such redemption, or upon the satisfaction of any
prerequisites set forth in such notice of redemption. If a conditional notice is given and if sufficient moneys
are not received, or such prerequisites are not satisfied, such notice shall be of no force and effect, the City
shall not redeem such Bonds and the Paying Agent/Registrar shall give notice, in the manner in which the
notice of redemption was given, to the effect that the Bonds have not been redeemed.
SECTION 5: Registration - Transfer - Exchange of Bonds - Predecessor Bonds. The Paying
Agent/Registrar shall obtain, record, and maintain in the Security Register the name and address of each
and every owner of the Bonds issued under and pursuant to the provisions of this Ordinance, or if
appropriate, the nominee thereof. Any Bond may be transferred or exchanged for Bonds of other authorized
denominations by the Holder, in person or by his duly authorized agent, upon surrender of such Bond to
the Paying Agent/Registrar at the Designated Payment/Transfer Office for cancellation, accompanied by a
written instrument of transfer or request for exchange duly executed by the Holder or by his duly authorized
agent, in form satisfactory to the Paying Agent/Registrar.
Upon surrender of any Bond (other than the Initial Bond(s) referenced in Section 8 hereof) for
transfer at the Designated Payment/Transfer Office of the Paying Agent/Registrar, one or more new Bonds
shall be registered and issued to the assignee or transferee of the previous Holder; such Bonds to be in
authorized denominations, of like Stated Maturity and of a like aggregate principal amount as the Bond or
Bonds surrendered for transfer.
At the option of the Holder, Bonds (other than the Initial Bond(s) referenced in Section 8 hereof)
may be exchanged for other Bonds of authorized denominations and having the same Stated Maturity,
bearing the same rate of interest and of like aggregate principal amount as the Bonds surrendered for
exchange, upon surrender of the Bonds to be exchanged at the Designated Payment/Transfer Office of the
Paying Agent/Registrar. Whenever any Bonds are surrendered for exchange, the Paying Agent/Registrar
shall register and deliver new Bonds to the Holder requesting the exchange.
All Bonds issued in any transfer or exchange of Bonds shall be delivered to the Holders at the
Designated Payment/Transfer Office of the Paying Agent/Registrar or sent by United States mail, first-
class, postage prepaid to the Holders, and, upon the registration and delivery thereof, the same shall be the
valid obligations of the City, evidencing the same obligation to pay, and entitled to the same benefits under
this Ordinance, as the Bonds surrendered in such transfer or exchange.
All transfers or exchanges of Bonds pursuant to this Section shall be made without expense or
service charge to the Holder, except as otherwise herein provided, and except that the Paying
Ordinance No. 2026-20 — General Obligation Bond Issuance 2026 Page 5 of 27
302665169.3/1001364201 5
Agent/Registrar shall require payment by the Holder requesting such transfer or exchange of any tax or
other governmental charges required to be paid with respect to such transfer or exchange.
Bonds canceled by reason of an exchange or transfer pursuant to the provisions hereof are hereby
defined to be "Predecessor Bonds," evidencing all or a portion, as the case may be, of the same obligation
to pay evidenced by the new Bond or Bonds registered and delivered in the exchange or transfer therefor.
Additionally, the term "Predecessor Bonds" shall include any mutilated, lost, destroyed, or stolen Bond for
which a replacement Bond has been issued, registered and delivered in lieu thereof pursuant to the
provisions of Section 11 hereof and such new replacement Bond shall be deemed to evidence the same
obligation as the mutilated, lost, destroyed, or stolen Bond.
Neither the City nor the Paying Agent/Registrar shall be required to issue or transfer to an assignee
of a Holder any Bond called for redemption, in whole or in part, within forty-five (45) days of the date fixed
for the redemption of such Bond; provided, however, such limitation on transferability shall not be
applicable to an exchange by the Holder of the unredeemed balance of a Bond called for redemption in part.
SECTION 6: Book -Entry -Only Transfers and Transactions. Notwithstanding the provisions
contained herein relating to the payment of, and transfer/exchange of, the Bonds, the City hereby approves
and authorizes the use of "Book -Entry -Only" securities clearance, settlement and transfer system provided
by The Depository Trust Company ("DTC"), a limited purpose trust company organized under the laws of
the State of New York, in accordance with the operational arrangements referenced in the Blanket Issuer
Letter of Representations, by and between the City and DTC (the "Depository Agreement").
Pursuant to the Depository Agreement and the rules of DTC, the Bonds shall be deposited with
DTC who shall hold said Bonds for its participants (the "DTC Participants"). While the Bonds are held by
DTC under the Depository Agreement, the Holder of the Bonds on the Security Register for all purposes,
including payment and notices, shall be Cede & Co., as nominee of DTC, notwithstanding the ownership
of each actual purchaser or owner of each Bond (the `Beneficial Owners") being recorded in the records of
DTC and DTC Participants.
In the event DTC determines to discontinue serving as securities depository for the Bonds or
otherwise ceases to provide book -entry clearance and settlement of securities transactions in general, or the
City decides to discontinue use of the system of book -entry transfers through DTC, the City covenants and
agrees with the Holders of the Bonds to cause Bonds to be printed in definitive form and provide for the
Bond certificates to be issued and delivered to DTC Participants and Beneficial Owners, as the case may
be. Thereafter, the Bonds in definitive form shall be assigned, transferred and exchanged on the Security
Register maintained by the Paying Agent/Registrar and payment of such Bonds shall be made in accordance
with the provisions of Sections 3, 4 and 5 hereof.
SECTION 7: Execution - Registration. The Bonds shall be executed on behalf of the City by
the Mayor or Mayor Pro Tern under its seal reproduced or impressed thereon and countersigned by the City
Secretary. The signature of said officers on the Bonds may be manual or facsimile. Bonds bearing the
manual or facsimile signatures of individuals who are or were the proper officers of the City on the date of
adoption of this Ordinance shall be deemed to be duly executed on behalf of the City, notwithstanding that
one or more of such individuals shall cease to hold such offices at the time of delivery of the Bonds to the
initial purchaser(s) and with respect to Bonds delivered in subsequent exchanges and transfers, all as
authorized and provided in Texas Government Code, Chapter 1201, as amended.
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302665169.3/1001364201 6
No Bond shall be entitled to any right or benefit under this Ordinance, or be valid or obligatory for
any purpose, unless there appears on such Bond either a certificate of registration substantially in the form
provided in Section 9(c), executed manually or by facsimile by the Comptroller of Public Accounts of the
State of Texas, or his duly authorized agent, or a certificate of registration substantially in the form provided
in Section 9(d), manually executed by an authorized officer, employee or representative of the Paying
Agent/Registrar, and either such certificate duly signed upon any Bond shall be conclusive evidence, and
the only evidence, that such Bond has been duly certified, registered and delivered.
SECTION 8: Initial Bond(s). The Bonds herein authorized shall be initially issued either (1) as
a single fully registered bond in the total principal amount shown in Section 1 hereof with principal
installments to become due and payable as provided in Section 2 hereof and numbered T-1, or (11) as
multiple fully registered bonds, being one bond for each year of maturity in the applicable principal amount
and denomination and to be numbered consecutively from T-1 and upward (hereinafter called the "Initial
Bond(s)") and, in either case, the Initial Bond(s) shall be registered in the name of the initial purchaser(s)
or the designee thereof. The Initial Bond(s) shall be the Bonds submitted to the Office of the Attorney
General of the State of Texas for approval, certified and registered by the Office of the Comptroller of
Public Accounts of the State of Texas and delivered to the initial purchaser(s). Any time after the delivery
of the Initial Bond(s), the Paying Agent/Registrar, pursuant to written instructions from the initial
purchaser(s), or the designee thereof, shall cancel the Initial Bond(s) delivered hereunder and exchange
therefor definitive Bonds of authorized denominations, Stated Maturities, principal amounts and bearing
applicable interest rates for transfer and delivery to the Holders named at the addresses identified therefor;
all pursuant to and in accordance with such written instructions from the initial purchaser(s), or the designee
thereof, and such other information and documentation as the Paying Agent/Registrar may reasonably
require.
SECTION 9: Forms.
(a) Forms Generally. The Bonds, the Registration Certificate of the Comptroller of Public
Accounts of the State of Texas, the Registration Certificate of Paying Agent/Registrar, and the form of
Assignment to be printed on each of the Bonds, shall be substantially in the forms set forth in this Section
with such appropriate insertions, omissions, substitutions, and other variations as are permitted or required
by this Ordinance and may have such letters, numbers, or other marks of identification (including
identifying numbers and letters of the Committee on Uniform Securities Identification Procedures of the
American Bankers Association) and such legends and endorsements (including insurance legends in the
event the Bonds, or any maturities thereof, are purchased with insurance and any reproduction of an opinion
of counsel) thereon as may, consistently herewith, be established by the City or determined by the officers
executing such Bonds as evidenced by their execution. Any portion of the text of any Bonds may be set
forth on the reverse thereof, with an appropriate reference thereto on the face of the Bond.
The definitive Bonds and the Initial Bond(s) shall be printed, lithographed, engraved, typewritten,
photocopied or otherwise reproduced in any other similar manner, all as determined by the officers
executing such Bonds as evidenced by their execution thereof.
(b) Form of Definitive Bond.
REGISTERED REGISTERED
NO. $
UNITED STATES OF AMERICA
STATE OF TEXAS
Ordinance No. 2026-20 — General Obligation Bond Issuance 2026 Page 7 of 27
302665169.3/1001364201 7
CITY OF WYLIE, TEXAS
GENERAL OBLIGATION BOND
SERIES 2026
Bond Date: Interest Rate: Stated Maturity: CUSIP NO:
May 1, 2026 February 15, 20
Registered Owner:
Principal Amount:
The City of Wylie (hereinafter referred to as the "City"), a body corporate and municipal
corporation in the Counties of Collin, Dallas and Rockwall, State of Texas, for value received,
acknowledges itself indebted to and hereby promises to pay to the registered owner named above, or the
registered assigns thereof, on the Stated Maturity date specified above the Principal Amount hereinabove
stated (or so much thereof as shall not have been redeemed prior to maturity) and to pay interest on the
unpaid principal amount hereof from the interest payment date next preceding the "Registration Date" of
this Bond appearing below (unless this Bond bears a "Registration Date" as of an interest payment date, in
which case it shall bear interest from such date, or unless the "Registration Date" of this Bond is prior to
the initial interest payment date in which case it shall bear interest from the date of the initial delivery of
the Bonds) at the per annum rate of interest specified above computed on the basis of a 360-day year of
twelve 30-day months; such interest being payable on February 15 and August 15 in each year until maturity
or prior redemption, commencing February 15, 2027. Principal of this Bond is payable at its Stated Maturity
or upon its prior redemption to the registered owner hereof, upon presentation and surrender, at the
Designated Payment/Transfer Office of the Paying Agent/Registrar executing the registration certificate
appearing hereon, or its successor; provided, however, while this Bond is registered to Cede & Co., the
payment of principal upon a partial redemption of the principal amount hereof may be accomplished
without presentation and surrender of this Bond. Interest is payable to the registered owner of this Bond
(or one or more Predecessor Bonds, as defined in the Ordinance hereinafter referenced) whose name appears
on the "Security Register" maintained by the Paying Agent/Registrar at the close of business on the "Record
Date," which is the last business day of the month next preceding each interest payment date, and interest
shall be paid by the Paying Agent/Registrar by check sent United States mail, first-class, postage prepaid,
to the address of the registered owner recorded in the Security Register or by such other method, acceptable
to the Paying Agent/Registrar, requested by, and at the risk and expense of, the registered owner. If the
date for the payment of the principal of or interest on the Bonds shall be a Saturday, Sunday, a legal holiday,
or a day when banking institutions in the city where the Designated Payment/Transfer Office of the Paying
Agent/Registrar is located are authorized by law or executive order to be closed, then the date for such
payment shall be the next succeeding day which is not such a Saturday, Sunday, legal holiday, or day when
such banking institutions are authorized to be closed; and payment on such date shall have the same force
and effect as if made on the original date payment was due. All payments of principal of, premium, if any,
and interest on this Bond shall be without exchange or collection charges to the registered owner hereof
and in any coin or currency of the United States of America, which at the time of payment is legal tender
for the payment of public and private debts.
This Bond is one of the series specified in its title issued in the aggregate principal amount of
S 13,385,000 (herein referred to as the "Bonds") for the purposes of providing funds for (1) permanent public
improvements and public purposes, to wit: (a) developing, engineering, constructing, reconstructing,
improving, repairing, extending, expanding and enhancing McMillen Drive, Park Boulevard and
Ballard/Sachse Road, including sidewalks and necessary and related storm drainage facilities and
improvements, utility relocations and the acquisition of any needed land and rights -of -way therefor, (b)
developing, engineering, constructing, reconstructing, improving, repairing, extending, expanding and
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302665169.3/1001364201 R
enhancing streets, thoroughfares, alleys and sidewalks, including necessary and related storm drainage
facilities and improvements, utility relocations and the acquisition of any needed land and rights -of -way
therefor and (c) developing, engineering, constructing, reconstructing, improving, repairing, extending,
expanding and enhancing streets, thoroughfares, alleys and sidewalks in the Wylie downtown historic
district, including necessary and related storm drainage facilities and improvements, utility relocations,
street lighting, signage, noise abatements, traffic signalization and controls equipment and the acquisition
of any needed land and rights -of -way therefor; and (11) to pay costs of issuance, under and in strict
conformity with the Constitution and laws of the State of Texas, including Texas Government Code,
Chapter 1331, as amended, and pursuant to an Ordinance adopted by the City Council of the City (herein
referred to as the "Ordinance").
The Bonds maturing on the dates hereinafter identified (collectively, the "Term Bonds") are subject
to mandatory redemption prior to maturity with funds on deposit in the Interest and Sinking Fund
established and maintained for the payment thereof in the Ordinance, and shall be redeemed in part prior to
maturity at the price of par and accrued interest thereon to the mandatory redemption date on the respective
dates and in principal amounts as follows:
Term Bonds due February 15, 2043 Term Bonds due February 15, 2046
Principal Principal
Redemption Date Amount N Redemption Date Amount ($)
February 15, 2041 815,000 February 15, 2044 920,000
February 15, 2042 850,000 February 14, 2045 960,000
February 15, 2043 (maturity) 885,000 February 15, 2046 (maturity) 1,005,000
The particular Term Bonds of a stated maturity to be redeemed on each redemption date shall be
chosen by lot by the Paying Agent/Registrar; provided, however, that the principal amount of Term Bonds
�,,.. for a stated maturity required to be redeemed on a mandatory redemption date may be reduced, at the option
of the City, by the principal amount of Term Bonds of like stated maturity which, at least fifty (50) days
prior to the mandatory redemption date, (1) shall have been acquired by the City at a price not exceeding
the principal amount of such Term Bonds plus accrued interest to the date of purchase thereof, and delivered
to the Paying Agent/Registrar for cancellation or (2) shall have been redeemed pursuant to the optional
redemption provisions appearing below and not theretofore credited against a mandatory redemption
requirement.
The Bonds maturing on and after February 15, 2036, may be redeemed prior to their Stated
Maturities, at the option of the City, in whole or in part in principal amounts of $5,000 or any integral
multiple thereof (and if within a Stated Maturity by lot by the Paying Agent/Registrar), on February 15,
2035, or on any date thereafter, at the redemption price of par, together with accrued interest to the date of
redemption.
At least thirty (30) days prior to a redemption date, the City shall cause a written notice of such
redemption to be sent by United States mail, first-class, postage prepaid, to the registered owners of each
Bond to be redeemed at the address shown on the Security Register and subject to the terms and provisions
relating thereto contained in the Ordinance. If this Bond (or any portion of its principal sum) shall have
been duly called for redemption and notice of such redemption duly given, then upon the redemption date
this Bond (or the portion of its principal sum to be redeemed) shall become due and payable, and interest
hereon shall cease to accrue from and after the redemption date therefor, provided moneys for the payment
of the redemption price and the interest on the principal amount to be redeemed to the date of redemption
are held for the purpose of such payment by the Paying Agent/Registrar.
Ordinance No. 2026-20 — General Obligation Bond Issuance 2026 Page 9 of 27
302665169.3/1001364201 9
In the event a portion of the principal amount of this Bond is to be redeemed and the registered
owner is someone other than Cede & Co., payment of the redemption price of such principal amount shall
be made to the registered owner only upon presentation and surrender of this Bond to the Designated
Payment/Transfer Office of the Paying Agent/Registrar, and a new Bond or Bonds of like maturity and
interest rate in any authorized denominations provided by the Ordinance for the then unredeemed balance
of the principal sum thereof will be issued to the registered owner, without charge. If this Bond is selected
for redemption, in whole or in part, the City and the Paying Agent/Registrar shall not be required to transfer
this Bond to an assignee of the registered owner within forty-five (45) days of the redemption date therefor;
provided, however, such limitation on transferability shall not be applicable to an exchange by the registered
owner of the unredeemed balance hereof in the event of its redemption in part.
With respect to any optional redemption of the Bonds, unless moneys sufficient to pay the principal
of and premium, if any, and interest on the Bonds to be redeemed shall have been received by the Paying
Agent/Registrar prior to the giving of such notice of redemption, such notice may state that said redemption
is conditional upon the receipt of such moneys by the Paying Agent/Registrar on or prior to the date fixed
for such redemption, or upon the satisfaction of any prerequisites set forth in such notice of redemption. If
a conditional notice is given and if sufficient moneys are not received, or such prerequisites are not satisfied,
such notice shall be of no force and effect, the City shall not redeem such Bonds and the Paying
Agent/Registrar shall give notice, in the manner in which the notice of redemption was given, to the effect
that the Bonds have not been redeemed.
The Bonds are payable from the proceeds of an ad valorem tax levied, within the limitations
prescribed by law, upon all taxable property in the City. Reference is hereby made to the Ordinance, a copy
of which is on file in the Designated Payment/Transfer Office of the Paying Agent/Registrar, and to all of
the provisions of which the registered owner of this Bond by the acceptance hereof hereby assents, for
definitions of terms; the description of and the nature and extent of the tax levied for the payment of the
Bonds; the terms and conditions relating to the transfer or exchange of this Bond; the conditions upon which
the Ordinance may be amended or supplemented with or without the consent of the registered owners; the
rights, duties, and obligations of the City and the Paying Agent/Registrar; the terms and provisions upon
which this Bond may be discharged at or prior to its maturity or redemption, and deemed to be no longer
Outstanding thereunder; and for other terms and provisions contained therein. Capitalized terms used
herein and not otherwise defined herein have the meanings assigned in the Ordinance.
This Bond, subject to certain limitations contained in the Ordinance, may be transferred on the
Security Register only upon its presentation and surrender at the Designated Payment/Transfer Office of
the Paying Agent/Registrar, with the Assignment hereon duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Paying Agent/Registrar duly executed by, the registered
owner hereof, or his duly authorized agent. When a transfer on the Security Register occurs, one or more
new fully registered Bonds of the same Stated Maturity, of authorized denominations, bearing the same rate
of interest, and of the same aggregate principal amount will be issued by the Paying Agent/Registrar to the
designated transferee or transferees.
The City and the Paying Agent/Registrar, and any agent of either, shall treat the registered owner
whose name appears on the Security Register (1) on the Record Date as the owner entitled to payment of
interest hereon, (ii) on the date of surrender of this Bond as the owner entitled to payment of principal
hereof at its Stated Maturity or upon its prior redemption, in whole or in part, and (iii) on any other date as
the owner for all other purposes, and neither the City nor the Paying Agent/Registrar, or any agent of either,
shall be affected by notice to the contrary. In the event of nonpayment of interest on a scheduled payment
date and for thirty (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 City. Notice of the Special Record Date and of the scheduled payment date
of the past due interest (which shall be fifteen (15) days after the Special Record Date) shall be sent at least �...,
Ordinance No. 2026-20 — General Obligation Bond Issuance 2026 Page 10 of 27
302665169.3/1001364201 10
five (5) business days prior to the Special Record Date by United States mail, first-class, postage prepaid,
to the address of each registered owner appearing on the Security Register at the close of business on the
last business day next preceding the date of mailing of such notice.
It is hereby certified, recited, represented and declared that the City is a body corporate and political
subdivision duly organized and legally existing under and by virtue of the Constitution and laws of the State
of Texas; that the issuance of the Bonds is duly authorized by law; that all acts, conditions and things
required to exist and be done precedent to and in the issuance of the Bonds to render the same lawful and
valid obligations of the City have been properly done, have happened and have been performed in regular
and due time, form and manner as required by the Constitution and laws of the State of Texas, and the
Ordinance; that the Bonds do not exceed any Constitutional or statutory limitation; and that due provision
has been made for the payment of the principal of and interest on the Bonds by the levy of a tax as
aforestated. In case any provision in this Bond shall be invalid, illegal, or unenforceable, the validity,
legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.
The terms and provisions of this Bond and the Ordinance shall be construed in accordance with and shall
be governed by the laws of the State of Texas.
IN WITNESS WHEREOF, the City Council of the City has caused this Bond to be duly executed
under the official seal of the City.
COUNTERSIGNED:
City Secretary
(SEAL)
CITY OF WYLIE, TEXAS
[Mayor] [Mayor Pro Tem]
(c) Form of Registration Certificate of Comptroller of Public Accounts to appear on Initial
Bond(s) only.
REGISTRATION CERTIFICATE OF
COMPTROLLER OF PUBLIC ACCOUNTS
OFFICE OF THE COMPTROLLER
OF PUBLIC ACCOUNTS
REGISTER NO.
Ordinance No. 2026-20 — General Obligation Bond Issuance 2026 Page I I of 27
302665169.3/ 100li64201 1 1
THE STATE OF TEXAS )
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 duly registered by the Comptroller of Public Accounts of
the State of Texas.
(SEAL)
WITNESS my signature and seal of office this
Acting Comptroller of Public Accounts
of the State of Texas
(d) Form of Certificate of Paying Agent/Registrar to appear on Definitive Bonds only.
REGISTRATION CERTIFICATE OF PAYING AGENT/REGISTRAR
This Bond has been duly issued and registered under the provisions of the within -mentioned
Ordinance; the bond or bonds of the above entitled and designated series originally delivered having been
approved by the Attorney General of the State of Texas and registered by the Comptroller of Public
Accounts, as shown by the records of the Paying Agent/Registrar.
The designated office of the Paying Agent/Registrar in Pittsburgh, Pennsylvania, is the Designated
Payment/Transfer Office for this Bond.
Registration date:
(e) Form of Assignment.
THE BANK OF NEW YORK MELLON TRUST
COMPANY, N.A., Houston, Texas,
as Paying Agent/Registrar
Authorized Signature
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto (Print or
typewrite name, address and zip code of transferee):
(Social Security or other identifying number ) the within
Bond and all rights thereunder, and hereby irrevocably constitutes and appoints
attorney to transfer the within Bond on the books kept for registration thereof, with full power of substitution
in the premises.
Ordinance No. 2026-20 — General Obligation Bond Issuance 2026 Page 12 of 2
302665169.3/1001364201 12
DATED:
Signature guaranteed:
NOTICE: The signature on this assignment
must correspond with the name of the registered
owner as it appears on the face of the within
Bond in every particular.
(f) The Initial Bond(s) shall be in the form set forth in paragraph (b) of this Section, except
that the form of the sini2le fully registered Initial Bond shall be modified as follows:
Heading and paragraph one shall be amended to read as follows:
REGISTERED
NO. T-1
UNITED STATES OF AMERICA
STATE OF TEXAS
CITY OF WYLIE, TEXAS
GENERAL OBLIGATION BOND
SERIES 2026
Bond Date: May 1, 2026
Registered Owner: J.P. MORGAN SECURITIES LLC
REGISTERED
$13,385,000
Principal Amount: THIRTEEN MILLION THREE HUNDRED EIGHTY-FIVE THOUSAND
DOLLARS
wr.
The City of Wylie (hereinafter referred to as the "City"), a body corporate and municipal
corporation in the Counties of Collin, Dallas and Rockwall, State of Texas, for value received,
acknowledges itself indebted to and hereby promises to pay the registered owner named above, or the
registered assigns thereof, the Principal Amount hereinabove stated on February 15 in each of the years and
in principal installments in accordance with the following schedule:
Year of Stated Principal Amount ($) Interest Rate
Maturity (%)
(Information to be inserted from schedule in Section 2 hereof).
(or so much principal thereof as shall not have been redeemed prior to maturity) and to pay interest on the
unpaid principal installments hereof from the interest payment date next preceding the "Registration Date"
of this Bond appearing below (unless this Bond bears a "Registration Date" as of an interest payment date,
in which case it shall bear interest from such date, or unless the "Registration Date" of this Bond is prior to
the initial interest payment date in which case it shall bear interest from the date of the initial delivery of
the Bonds) at the per annum rates of interest specified above computed on the basis of a 360-day year of
twelve 30-day months; such interest being payable on February 15 and August 15 in each year until maturity
or prior redemption, commencing February 15, 2027. Principal installments of this Bond are payable at its
Stated Maturity or on a redemption date to the registered owner hereof by The Bank of New York Mellon
Trust Company, N.A., Houston, Texas (the "Paying Agent/Registrar"), upon presentation and surrender, at
its designated offices, initially in Pittsburgh, Pennsylvania; or, with respect to a successor paying
�... agent/registrar, at the designated offices of such successor (the "Designated Payment/Transfer Office").
Ordinance No. 2026-20 — General Obligation Bond Issuance 2026 Page 13 of 27
302665169.3/1001364201 13
Interest is payable to the registered owner of this Bond whose name appears on the "Security Register"
maintained by the Paying Agent/Registrar at the close of business on the "Record Date", which is the last
business day of the month next preceding each interest payment date, and interest shall be paid by the
Paying Agent/Registrar by check sent United States mail, first-class, postage prepaid, to the address of the
registered owner recorded in the Security Register or by such other method, acceptable to the Paying
Agent/Registrar, requested by, and at the risk and expense of, the registered owner. If the date for the
payment of the principal of or interest on the Bonds shall be a Saturday, Sunday, a legal holiday, or a day
when banking institutions in the city where the Designated Payment/Transfer Office of the Paying
Agent/Registrar is located are authorized by law or executive order to be closed, then the date for such
payment shall be the next succeeding day which is not such a Saturday, Sunday, legal holiday, or day when
such banking institutions are authorized to be closed; and payment on such date shall have the same force
and effect as if made on the original date payment was due. All payments of principal of, premium, if any,
and interest on this Bond shall be without exchange or collection charges to the registered owner hereof
and in any coin or currency of the United States of America which at the time of payment is legal tender
for the payment of public and private debts.
SECTION 10: Levy of Taxes. To provide for the payment of the "Debt Service Requirements"
of the Bonds, being (1) the interest on the Bonds and (ii) a sinking fund for their redemption at maturity or
prior redemption or a sinking fund of 2% (whichever amount is the greater), there is hereby levied, and
there shall be annually assessed and collected in due time, form, and manner, a tax on all taxable property
in the City, within the limitations prescribed by law, and such tax hereby levied on each one hundred dollars'
valuation of taxable property in the City for the Debt Service Requirements of the Bonds shall be at a rate
from year to year as will be ample and sufficient to provide funds each year to pay the Debt Service
Requirements on said Bonds while Outstanding; full allowance being made for delinquencies and costs of
collection; separate books and records relating to the receipt and disbursement of taxes levied, assessed and
collected for and on account of the Bonds shall be kept and maintained by the City at all times while the
Bonds are Outstanding, and the taxes collected for the payment of the Debt Service Requirements on the
Bonds shall be deposited to the credit of a "Special 2026 Bond Account" (the "Interest and Sinking Fund")
maintained on the records of the City and deposited in a special fund maintained at an official depository
of the City's funds; and such tax hereby levied, and to be assessed and collected annually, is hereby pledged
to the payment of the Bonds.
The Mayor, Mayor Pro Tem, City Secretary, City Manager, Deputy City Manager, Assistant City
Manager and Finance Director, individually or jointly, are hereby authorized and directed to cause to be
transferred to the Paying Agent/Registrar for the Bonds, from funds on deposit in the Interest and Sinking
Fund, amounts sufficient to fully pay and discharge promptly each installment of interest and principal of
the Bonds as the same accrues or matures or comes due by reason of redemption prior to maturity; such
transfers of funds to be made in such manner as will cause collected funds to be deposited with the Paying
Agent/Registrar on or before each principal and interest payment date for the Bonds.
SECTION 11: Mutilated, Destroyed, Lost and Stolen Bonds. In case any Bond shall be
mutilated, destroyed, lost or stolen, the Paying Agent/Registrar may execute and deliver a replacement
Bond of like form and tenor, and in the same denomination and bearing a number not contemporaneously
outstanding, in exchange and substitution for such mutilated Bond, or in lieu of and in substitution for such
destroyed, lost or stolen Bond, only upon the approval of the City and after (1) the filing by the Holder
thereof with the Paying Agent/Registrar of evidence satisfactory to the Paying Agent/Registrar of the
destruction, loss or theft of such Bond, and of the authenticity of the ownership thereof and (11) the
furnishing to the Paying Agent/Registrar of indemnification in an amount satisfactory to hold the City and
the Paying Agent/Registrar harmless. All expenses and charges associated with such indemnity and with
the preparation, execution and delivery of a replacement Bond shall be borne by the Holder of the Bond
mutilated, destroyed, lost or stolen.
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302665169.3/1001364201 14
Every replacement Bond issued pursuant to this Section shall be a valid and binding obligation,
and shall be entitled to all the benefits of this Ordinance equally and ratably with all other Outstanding
Bonds; notwithstanding the enforceability of payment by anyone of the destroyed, lost, or stolen Bonds.
The provisions of this Section are exclusive and shall preclude (to the extent lawful) all other rights
and remedies with respect to the replacement and payment of mutilated, destroyed, lost or stolen Bonds.
SECTION 12: Satisfaction of Obligation of City. If the City shall pay or cause to be paid, or
there shall otherwise be paid to the Holders, the principal of, premium, if any, and interest on the Bonds, at
the times and in the manner stipulated in this Ordinance, then the pledge of taxes levied under this
Ordinance and all covenants, agreements, and other obligations of the City to the Holders shall thereupon
cease, terminate, and be discharged and satisfied.
Bonds or any principal amount(s) thereof shall be deemed to have been paid within the meaning
and with the effect expressed above in this Section when (1) money sufficient to pay in full such Bonds or
the principal amount(s) thereof at maturity or to the redemption date therefor, together with all interest due
thereon, shall have been irrevocably deposited with and held in trust by the Paying Agent/Registrar, or an
authorized escrow agent, or (1i) Government Securities shall have been irrevocably deposited in trust with
the Paying Agent/Registrar, or an authorized escrow agent, which Government Securities have been
certified by an independent accounting or consulting firm to mature as to principal and interest in such
amounts and at such times as will insure the availability, without reinvestment, of sufficient money, together
with any moneys deposited therewith, if any, to pay when due the principal of and interest on such Bonds,
or the principal amount(s) thereof, on and prior to the Stated Maturity thereof or (if notice of redemption
has been duly given or waived or if irrevocable arrangements therefor acceptable to the Paying
Agent/Registrar have been made) the redemption date thereof. The City covenants that no deposit of
moneys or Government Securities will be made under this Section and no use made of any such deposit
,., which would cause the Bonds to be treated as "arbitrage bonds" within the meaning of Section 148 of the
Internal Revenue Code of 1986, as amended, or regulations adopted pursuant thereto.
The City reserves the right, subject to satisfying the requirements in (1) or (11) above, to substitute
other Government Securities for the Government Securities originally deposited, to reinvest the uninvested
money on deposit for such defeasance, and to withdraw for the benefit of the City moneys in excess of the
amount required for such defeasance.
Any moneys so deposited with the Paying Agent/Registrar, or an authorized escrow agent, and all
income from Government Securities held in trust by the Paying Agent/Registrar, or an authorized escrow
agent, pursuant to this Section which is not required for the payment of the Bonds, or any principal
amount(s) thereof, or interest thereon with respect to which such moneys have been so deposited shall be
remitted to the City or deposited as directed by the City. Furthermore, any money held by the Paying
Agent/Registrar for the payment of the principal of and interest on the Bonds and remaining unclaimed for
a period of three (3) years after the Stated Maturity, or applicable redemption date, of the Bonds such
moneys were deposited and are held in trust to pay shall upon the request of the City be remitted to the City
against a written receipt therefor. Notwithstanding the above and foregoing, any remittance of funds from
the Paying Agent/Registrar to the City shall be subject to any applicable unclaimed property laws of the
State of Texas.
The term '`Government Securities", as used herein, means (1) direct noncallable 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 and (11) noncallable obligations of an agency or instrumentality
of the United States, including obligations unconditionally guaranteed or insured by the agency or
instrumentality of the United States of America and, on the date of their acquisition or purchase by the City,
Ordinance No. 2026-20 — General Obligation Bond Issuance 2026 Page 15 Of 27
302665169.3/1001364201 15
are rated as to investment quality by a nationally recognized investment rating firm not less than AAA or
its equivalent.
Upon such deposit as described above, such Bonds shall no longer be regarded to be outstanding
or unpaid; provided, however, the City has reserved the option, to be exercised at the time of the defeasance
of the Bonds, to call for redemption at an earlier date, which have been defeased to their maturity date, if
the City: (1) in the proceedings providing for the firm banking and financial arrangements, expressly
reserves the right to call the Bonds for redemption; (11) gives notice of the reservation of that right to the
owners of the Bonds immediately following the making of the firm banking and financial arrangements;
and (iii) directs that notice of the reservation be included in any redemption notices that it authorizes.
SECTION 13: Ordinance a Contract - Amendments - Outstanding Bonds. This Ordinance
shall constitute a contract with the Holders from time to time, be binding on the City, and shall not be
amended or repealed by the City so long as any Bond remains Outstanding except as permitted in this
Section and in Section 28. The City may, without the consent of or notice to any Holders, from time to
time and at any time, amend this Ordinance in any manner not detrimental to the interests of the Holders,
including the curing of any ambiguity, inconsistency, or formal defect or omission herein. In addition, the
City may, with the consent of Holders holding a majority in aggregate principal amount of the Bonds then
Outstanding affected thereby, amend, add to, or rescind any of the provisions of this Ordinance; provided
that, without the consent of all Holders of Outstanding Bonds, no such amendment, addition, or rescission
shall (1) extend the time or times of payment of the principal of, premium, if any, and interest on the Bonds,
reduce the principal amount thereof, the redemption price therefor, or the rate of interest thereon, or in any
other way modify the terms of payment of the principal of, premium, if any, or interest on the Bonds,
(2) give any preference to any Bond over any other Bond, or (3) reduce the aggregate principal amount of
Bonds required to be held by Holders for consent to any such amendment, addition, or rescission.
The term "Outstanding", when used in this Ordinance with respect to Bonds, means as of the date
of determination, all Bonds theretofore issued and delivered under this Ordinance, except:
(1) those Bonds canceled by the Paying Agent/Registrar or delivered to the
Paying Agent/Registrar for cancellation;
(2) those Bonds deemed to be duly paid by the City in accordance with the
provisions of Section 12 hereof, and
(3) those mutilated, destroyed, lost, or stolen Bonds which have been replaced
with Bonds registered and delivered in lieu thereof as provided in
Section 11 hereof.
SECTION 14: Covenants to Maintain Tax -Exempt Status.
(a) Definitions. When used in this Section 14, the following terms shall have the following
meanings:
"Closing Date" means the date on which the Bonds are first authenticated and delivered
to the initial purchasers against payment therefor.
"Code" means the Internal Revenue Code of 1986, as amended by all legislation, if any,
effective on or before the Closing Date.
"Computation Date" has the meaning set forth in Section 1.148-1(b) of the Regulations. �—
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302665169.3/1001364201 16
"Gross Proceeds " means any proceeds as defined in Section 1.148-1(b) of the Regulations,
and any replacement proceeds as defined in Section 1.148-1(c) of the Regulations, of the
Bonds.
'Investment" has the meaning set forth in Section 1.148-1(b) of the Regulations.
"Nonpurpose Investment" means any investment property, as defined in Section 148(b) of
the Code, in which Gross Proceeds of the Bonds are invested and which is not acquired to
carry out the governmental purposes of the Bonds.
"Rebate Amount" has the meaning set forth in Section 1.148-1(b) of the Regulations.
"Regulations " means any proposed, temporary, or final Income Tax Regulations issued
pursuant to Sections 103 and 141 through 150 of the Code, and 103 of the Internal Revenue
Code of 1954, which are applicable to the Bonds. Any reference to any specific Regulation
shall also mean, as appropriate, any proposed, temporary or final Income Tax Regulation
designed to supplement, amend or replace the specific Regulation referenced.
"Yield" of (1) any Investment has the meaning set forth in Section 1.148-5 of the
Regulations; and (2) the Bonds has the meaning set forth in Section 1.148-4 of the
Regulations.
(b) Not to Cause Interest to Become Taxable. The City shall not use, permit the use of, or omit
to use Gross Proceeds or any other amounts (or any property the acquisition, construction or improvement
of which is to be financed directly or indirectly with Gross Proceeds) in a manner which if made or omitted,
respectively, would cause the interest on any Bond to become includable in the gross income, as defined in
mom Section 61 of the Code, of the owner thereof for federal income tax purposes. Without limiting the
generality of the foregoing, unless and until the City receives a written opinion of counsel nationally
recognized in the field of municipal bond law to the effect that failure to comply with such covenant will
not adversely affect the exemption from federal income tax of the interest on any Bond, the City shall
comply with each of the specific covenants in this Section.
(c) No Private Use or Private Payments. Except as permitted by Section 141 of the Code and
the Regulations and rulings thereunder, the City shall at all times prior to the last Stated Maturity of Bonds:
(1) exclusively own, operate and possess all property the acquisition,
construction or improvement of which is to be financed or refinanced
directly or indirectly with Gross Proceeds of the Bonds, and not use or
permit the use of such Gross Proceeds (including all contractual
arrangements with terms different than those applicable to the general
public) or any property acquired, constructed or improved with such Gross
Proceeds in any activity carried on by any person or entity (including the
United States or any agency, department and instrumentality thereof) other
than a state or local government, unless such use is solely as a member of
the general public; and
(2) not directly or indirectly impose or accept any charge or other payment by
any person or entity who is treated as using Gross Proceeds of the Bonds
or any property the acquisition, construction or improvement of which is
to be financed or refinanced directly or indirectly with such Gross
Proceeds, other than taxes of general application within the City or interest
Ordinance No. 2026-20 — General Obligation Bond Issuance 2026 Page 17 of 27
302665169.3/1001364201 17
earned on investments acquired with such Gross Proceeds pending
application for their intended purposes.
(d) No Private Loan. Except to the extent permitted by Section 141 of the Code and the
Regulations and rulings thereunder, the City shall not use Gross Proceeds of the Bonds to make or finance
loans to any person or entity other than a state or local government. For purposes of the foregoing covenant,
such Gross Proceeds are considered to be "loaned" to a person or entity if: (1) property acquired, constructed
or improved with such Gross Proceeds is sold or leased to such person or entity in a transaction which
creates a debt for federal income tax purposes; (2) capacity in or service from such property is committed
to such person or entity under a take -or -pay, output or similar contract or arrangement; or (3) indirect
benefits, or burdens and benefits of ownership, of such Gross Proceeds or any property acquired,
constructed or improved with such Gross Proceeds are otherwise transferred in a transaction which is the
economic equivalent of a loan.
(e) Not to Invest at Higher Yield. Except to the extent permitted by Section 148 of the Code
and the Regulations and rulings thereunder, the City shall not at any time prior to the final Stated Maturity
of the Bonds directly or indirectly invest Gross Proceeds in any Investment (or use Gross Proceeds to
replace money so invested), if as a result of such investment the Yield from the Closing Date of all
Investments acquired with Gross Proceeds (or with money replaced thereby), whether then held or
previously disposed of, exceeds the Yield of the Bonds.
(1) Not Federally Guaranteed. Except to the extent permitted by Section 149(b) of the Code
and the Regulations and rulings thereunder, the City shall not take or omit to take any action which would
cause the Bonds to be federally guaranteed within the meaning of Section 149(b) of the Code and the
Regulations and rulings thereunder.
(g) Information Report. The City shall timely file the information required by Section 149(e)
of the Code with the Secretary of the Treasury on Form 8038-G or such other form and in such place as the
Secretary may prescribe.
(h) Rebate of Arbitrage Profits. Except to the extent otherwise provided in Section 148(f) of
the Code and the Regulations and rulings thereunder:
(1) The City shall account for all Gross Proceeds (including all receipts,
expenditures and investments thereof) on its books of account separately
and apart from all other funds (and receipts, expenditures and investments
thereof) and shall retain al l records of accounting for at least six years after
the day on which the last outstanding Bond is discharged. However, to the
extent permitted by law, the City may commingle Gross Proceeds of the
Bonds with other money of the City, provided that the City separately
accounts for each receipt and expenditure of Gross Proceeds and the
obligations acquired therewith.
(2) Not less frequently than each Computation Date, the City shall calculate
the Rebate Amount in accordance with rules set forth in Section 148(f) of
the Code and the Regulations and rulings thereunder. The City shall
maintain such calculations with its official transcript of proceedings
relating to the issuance of the Bonds until six years after the final
Computation Date.
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(3) As additional consideration for the purchase of the Bonds by the
Underwriters and the loan of the money represented thereby and in order
Now to induce such purchase by measures designed to insure the excludability
of the interest thereon from the gross income of the owners thereof for
federal income tax purposes, the City shall pay to the United States from
the construction fund, other appropriate fund or, if permitted by applicable
Texas statute, regulation or opinion of the Attorney General of the State
of Texas, the Interest and Sinking Fund, the amount that when added to
the future value of previous rebate payments made for the Bonds equals
(1) in the case of a Final Computation Date as defined in Section 1.148-
3(e)(2) of the Regulations, one hundred percent (100%) of the Rebate
Amount on such date; and (11) in the case of any other Computation Date,
ninety percent (90%) of the Rebate Amount on such date. In all cases, the
rebate payments shall be made at the times, in the installments, to the place
and in the manner as is or may be required by Section 148(f) of the Code
and the Regulations and rulings thereunder, and shall be accompanied by
Form 8038-T or such other forms and information as is or may be required
by Section 148(f) of the Code and the Regulations and rulings thereunder.
(4) The City shall exercise reasonable diligence to assure that no errors are
made in the calculations and payments required by paragraphs (2) and (3),
and if an error is made, to discover and promptly correct such error within
a reasonable amount of time thereafter (and in all events within one
hundred eighty (180) days after discovery of the error), including payment
to the United States of any additional Rebate Amount owed to it, interest
thereon, and any penalty imposed under Section 1.148-3(h) of the
Regulations.
(1) Not to Divert Arbitrage Profits. Except to the extent permitted by Section 148 of the Code
and the Regulations and rulings thereunder, the City shall not, at any time prior to the earlier of the Stated
Maturity or final payment of the Bonds, enter into any transaction that reduces the amount required to be
paid to the United States pursuant to Subsection (h) of this Section because such transaction results in a
smaller profit or a larger loss than would have resulted if the transaction had been at arm's length and had
the Yield of the Bonds not been relevant to either party.
0) Elections. The City hereby directs and authorizes the Mayor, Mayor Pro Tem, City
Manager, Deputy City Manager, Assistant City Manager and Finance Director, either individually or
jointly, to make elections permitted or required pursuant to the provisions of the Code or the Regulations,
as they deem necessary or appropriate in connection with the Bonds, in the Certificate as to Tax Exemption
or similar or other appropriate certificate, form or document.
SECTION 15: Sale of Bonds - Official Statement Approval. Pursuant to a public sale for the
Bonds, the bid submitted by J.P. Morgan Securities LLC (herein referred to as the "Underwriters") is
declared to be the best bid received producing the lowest true interest cost rate to the City, and the sale of
the Bonds to said Underwriters at the price of par plus a cash premium of $747,465.87, is hereby determined
to be in the best interests of the City and is approved and confirmed. Delivery of the Bonds to the
Underwriters shall occur as soon as possible upon payment being made therefor in accordance with the
terms of sale. The Initial Bond shall be registered in the name as provided in the winning bid.
Furthermore, the use of the Preliminary Official Statement by the Underwriters in connection with
the public offering and sale of the Bonds is hereby ratified, confirmed and approved in all respects and is
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hereby deemed "final" as of its date, within the meaning of Rule 15c2-12 of the United States Securities
and Exchange Commission. The final Official Statement, which reflects the terms of sale (together with
such changes approved by the Mayor, Mayor Pro Tem, City Secretary, City Manager, Deputy City
Manager, Assistant City Manager and Finance Director, any one or more of said officials), shall be and is
hereby in all respects approved and the Underwriters are hereby authorized to use and distribute said final
Official Statement, dated May 12, 2026, in the reoffering, sale and delivery of the Bonds to the public. The
Mayor or Mayor Pro Tem and City Secretary are further authorized to execute and deliver for and on behalf
of the City copies of said Official Statement in final form as may be required by the Underwriters, and such
final Official Statement in the form and content executed by said officials shall be deemed to be approved
by the City Council and constitute the Official Statement authorized for distribution and use by the
Underwriters.
SECTION 16: Control and Custody of Bonds. The Mayor or Mayor Pro Tem of the City shall
be and is hereby authorized to take and have charge of all necessary orders and records pending
investigation by the Attorney General of the State of Texas, including the printing and supply of definitive
Bonds, and shall take and have charge and control of the Initial Bond(s) pending the approval thereof by
the Attorney General, the registration thereof by the Comptroller of Public Accounts and the delivery
thereof to the Underwriters.
Furthermore, the Mayor, Mayor Pro Tem, City Secretary, City Manager, Deputy City Manager,
Assistant City Manager and Finance Director, any one or more of said officials, are hereby authorized and
directed to furnish and execute such documents relating to the City and its financial affairs as may be
necessary for the issuance of the Bonds, the approval of the Attorney General, and their registration by the
Comptroller of Public Accounts and, together with the City's financial advisor, bond counsel, and the
Paying Agent/Registrar, make the necessary arrangements for the delivery of the Initial Bond(s) to the
Underwriters and the initial exchange thereof for definitive Bonds.
SECTION 17: Proceeds of Sale. Immediately following the delivery of the Bonds, the proceeds
of sale shall be deposited with an official depository of the City to finance the permanent public
improvements referenced in Section 1 hereof and to pay the costs of issuance. Pending expenditure for
authorized projects and purposes, such proceeds of sale may be invested in authorized investments in
accordance with the provisions of Texas Government Code, Chapter 2256, as amended, including
guaranteed investment contracts permitted by Texas Government Code, Section 2256.015 et seq., and the
City's investment policies and guidelines and any investment earnings realized shall be expended for such
authorized projects and purposes or deposited in the Interest and Sinking Fund. $615,000 of the premium
received from the Underwriters will be deposited to the construction fund to finance the permanent public
improvements referenced in Section 1 hereof and the remaining premium will be used to pay costs of
issuance as permitted by Section 1201.042, Texas Government Code, as amended. Any surplus proceeds
of sale of the Bonds, including investment earnings, remaining after completion of all authorized projects
or purposes shall be deposited to the credit of the Interest and Sinking Fund.
SECTION 18: Notices to Holders - Waiver. Wherever this Ordinance provides for notice to
Holders of any event, such notice shall be sufficiently given (unless otherwise herein expressly provided)
if in writing and sent by United States mail, first-class, postage prepaid, to the address of each Holder
appearing in the Security Register at the close of business on the business day next preceding the mailing
of such notice.
In any case where notice to Holders is given by mail, neither the failure to mail such notice to any
particular Holders, nor any defect in any notice so mailed, shall affect the sufficiency of such notice with
respect to all other Bonds. Where this Ordinance provides for notice in any manner, such notice may be
waived in writing by the Holder entitled to receive such notice, either before or after the event with respect
to which such notice is given, and such waiver shall be the equivalent of such notice. Waivers of notice by
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Holders shall be filed with the Paying Agent/Registrar, but such filing shall not be a condition precedent to
the validity of any action taken in reliance upon such waiver.
SECTION 19: Cancellation. All Bonds surrendered for payment, redemption, transfer,
exchange, or replacement, if surrendered to the Paying Agent/Registrar, shall be promptly canceled by it
and, if surrendered to the City, shall be delivered to the Paying Agent/Registrar and, if not already canceled,
shall be promptly canceled by the Paying Agent/Registrar. The City may at any time deliver to the Paying
Agent/Registrar for cancellation any Bonds previously certified or registered and delivered which the City
may have acquired in any manner whatsoever, and all Bonds so delivered shall be promptly canceled by
the Paying Agent/Registrar. All canceled Bonds held by the Paying Agent/Registrar shall be returned to
the City.
SECTION 20: Legal Opinion. The Underwriters' obligation to accept delivery of the Bonds is
subject to being furnished a final opinion of Norton Rose Fulbright US LLP approving the Bonds as to their
validity, said opinion to be dated and delivered as of the date of delivery and payment for the Bonds. A
true and correct reproduction of said opinion or an executed counterpart thereof shall accompany the global
Bonds deposited with The Depository Trust Company or a reproduction thereof shall be printed on the
definitive Bonds in the event the book -entry -only system shall be discontinued. The City Council confirms
the continuation of the engagement of Norton Rose Fulbright US LLP as the City's bond counsel.
SECTION 21: CUSIP Numbers. CUSIP numbers may be printed or typed on the Bonds
deposited with The Depository Trust Company or on printed definitive Bonds. It is expressly provided,
however, that the presence or absence of CUSIP numbers on the definitive Bonds shall be of no significance
or effect as regards the legality thereof and neither the City nor attorneys approving the Bonds as to legality
are to be held responsible for CUSIP numbers incorrectly printed or typed on the definitive Bonds.
m, SECTION 22: Benefits of Ordinance. Nothing in this Ordinance, expressed or implied, is
intended or shall be construed to confer upon any person other than the City, the Paying Agent/Registrar
and the Holders, any right, remedy, or claim, legal or equitable, under or by reason of this Ordinance or any
provision hereof, this Ordinance and all its provisions being intended to be and being for the sole and
exclusive benefit of the City, the Paying Agent/Registrar and the Holders.
SECTION 23: Inconsistent Provisions. All ordinances, orders or resolutions, or parts thereof,
which are in conflict or inconsistent with any provision of this Ordinance are hereby repealed to the extent
of such conflict, and the provisions of this Ordinance shall be and remain controlling as to the matters
contained herein.
SECTION 24: Governing Law. This Ordinance shall be construed and enforced in accordance
with the laws of the State of Texas and the United States of America.
SECTION 25: Effect of Headings. The Section headings herein are for convenience of reference
only and shall not affect the construction hereof.
SECTION 26: Construction of Terms. If appropriate in the context of this Ordinance, words of
the singular number shall be considered to include the plural, words of the plural number shall be considered
to include the singular, and words of the masculine, feminine or neuter gender shall be considered to include
the other genders.
SECTION 27: Severability. If any provision of this Ordinance or the application thereof to any
circumstance shall be held to be invalid, the remainder of this Ordinance and the application thereof to other
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302665169.3/10013,64201 21
circumstances shall nevertheless be valid, and the City Council hereby declares that this Ordinance would
have been enacted without such invalid provision.
SECTION 28: Continuing Disclosure Undertaking.
(a) Definitions. As used in this Section, the following terms have the meanings ascribed to
such terms below:
"Financial Obligation " means a (a) debt obligation; (b) derivative instrument entered into in
connection with, or pledged as security or a source of payment for, an existing or planned debt obligation;
or (c) guarantee of a debt obligation or any such derivative instrument; provided that "financial obligation"
shall not include municipal securities as to which a final official statement (as defined in the Rule) has been
provided to the MSRB consistent with the Rule.
"MSRB " means the Municipal Securities Rulemaking Board.
Rule " means SEC Rule 15c2-12, as amended from time to time.
SEC " means the United States Securities and Exchange Commission.
(b) Annual Reports. The City shall provide annually to the MSRB (1) within six months after
the end of each fiscal year, ending in or after 2026, financial information and operating data with respect to
the City of the general type included under Tables numbered 1 through 6 and 8 through 15 in the final
Official Statement, and (2) within twelve months after the end of each fiscal year, ending in or after 2026,
audited financial statements of the City. If audited financial statements are not available within 12 months
after the end of any fiscal year, the City will provide unaudited financial statements by the required time,
and audited financial statements when and if such audited financial statements become available. Any
financial statements so provided shall be prepared in accordance with the accounting principles described
in Appendix B of the Official Statement, or such other accounting principles as the City may be required
to employ from time to time pursuant to state law or regulation, and audited, if the City commissions an
audit of such statements and the audit is completed within the period during which they must be provided.
If the City changes its fiscal year, it will notify the MSRB of the change (and of the date of the new
fiscal year end) prior to the next date by which the City otherwise would be required to provide financial
information and operating data pursuant to this Section.
The financial information and operating data to be provided pursuant to this Section may be set
forth in full in one or more documents or may be included by specific reference to any document available
to the public on the MSRB's Internet Web site or filed with the SEC.
(c) Notice of Certain Events. The City shall provide notice of any of the following events with
respect to the Bonds to the MSRB in a timely manner and not more than ten (10) business days after
occurrence of the event:
1. Principal and interest payment delinquencies;
2. Non-payment related defaults, if material;
3. Unscheduled draws on debt service reserves reflecting financial difficulties;
4. Unscheduled draws on credit enhancements reflecting financial difficulties;
5. Substitution of credit or liquidity providers, or their failure to perform;
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6. Adverse tax opinions, the issuance by the Internal Revenue Service of proposed or final
determinations of taxability, Notices of Proposed Issue (IRS Form 5701-TEB), or other
material notices or determinations with respect to the tax status of the Bonds, or other
material events affecting the tax status of the Bonds;
7. Modifications to rights of holders of the Bonds, if material;
8. Bond calls, if material, and tender offers;
9. Defeasances;
10. Release, substitution, or sale of property securing repayment of the Bonds, if material;
11. Rating changes;
12. Bankruptcy, insolvency, receivership, or similar event of the City, which shall occur as
described below;
13. The consummation of a merger, consolidation, or acquisition involving the City or the sale
of all or substantially all of its assets, other than in the ordinary course of business, the
entry into of a definitive agreement to undertake such an action or the termination of a
definitive agreement relating to any such actions, other than pursuant to its terms, if
material;
14. Appointment of a successor or additional trustee or the change of name of a trustee, if
material;
15. Incurrence of a Financial Obligation of the City, if material, or agreement to covenants,
events of default, remedies, priority rights, or other similar terms of a Financial Obligation
tow of the City, any of which affect security holders, if material; and
16. Default, event of acceleration, termination event, modification of terms, or other similar
events under the terms of a Financial Obligation of the City, any of which reflect financial
difficulties.
For these purposes, (a) any event described in the immediately preceding paragraph (12) is
considered to occur when any of the following occur: the appointment of a receiver, fiscal agent, or similar
officer for the City in a proceeding under the United States Bankruptcy Code or in any other proceeding
under state or federal law in which a court or governmental authority has assumed jurisdiction over
substantially all of the assets or business of the City, or if such jurisdiction has been assumed by leaving
the existing governing body and officials or officers in possession but subject to the supervision and orders
of a court or governmental authority, or the entry of an order confirming a plan of reorganization,
arrangement, or liquidation by a court or governmental authority having supervision or jurisdiction over
substantially all of the assets or business of the City and (b) the City intends the words used in the
immediately preceding paragraphs (15) and (16) in this Section to have the meanings ascribed to them in
SEC Release No. 34-83885, dated August 20, 2018.
The City shall notify the MSRB, in a timely manner, of any failure by the City to provide financial
information or operating data in accordance with subsection (b) of this Section by the time required by such
Section.
(d) Filings with the MSRB. All financial information, operating data, financial statements,
notices and other documents provided to the MSRB in accordance with this Section shall be provided in an
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302665169.3/ 1001364201 23
electronic format prescribed by the MSRB and shall be accompanied by identifying information as
prescribed by the MSRB.
(e) Limitations, Disclaimers and Amendments. The City shall be obligated to observe and
perform the covenants specified in this Section for so long as, but only for so long as, the City remains an
"obligated person" with respect to the Bonds within the meaning of the Rule, except that the City in any
event will give the notice required by subsection (c) of this Section of any Bond calls and defeasance that
cause the City to be no longer such an "obligated person."
The provisions of this Section are for the sole benefit of the Holders and beneficial owners of the
Bonds, and nothing in this Section, express or implied, shall give any benefit or any legal or equitable right,
remedy, or claim hereunder to any other person. The City undertakes to provide only the financial
information, operating data, financial statements, and notices which it has expressly agreed to provide
pursuant to this Section and does not hereby undertake to provide any other information that may be relevant
or material to a complete presentation of the City's financial results, condition, or prospects or hereby
undertake to update any information provided in accordance with this Section or otherwise, except as
expressly provided herein. The City does not make any representation or warranty concerning such
information or its usefulness to a decision to invest in or sell Bonds at any future date.
UNDER NO CIRCUMSTANCES SHALL THE CITY BE LIABLE TO THE HOLDER OR
BENEFICIAL OWNER OF ANY BOND OR ANY OTHER PERSON, IN CONTRACT OR TORT, FOR
DAMAGES RESULTING IN WHOLE OR IN PART FROM ANY BREACH BY THE CITY, WHETHER
NEGLIGENT OR WITHOUT FAULT ON ITS PART, OF ANY COVENANT SPECIFIED IN THIS
SECTION, BUT EVERY RIGHT AND REMEDY OF ANY SUCH PERSON, IN CONTRACT OR
TORT, FOR OR ON ACCOUNT OF ANY SUCH BREACH SHALL BE LIMITED TO AN ACTION
FOR MANDAMUS OR SPECIFIC PERFORMANCE.
No default by the City in observing or performing its obligations under this Section shall constitute
a breach of or default under this Ordinance for purposes of any other provision of this Ordinance.
Nothing in this Section is intended or shall act to disclaim, waive, or otherwise limit the duties of
the City under federal and state securities laws.
Notwithstanding anything herein to the contrary, the provisions of this Section may be amended by
the City from time to time to adapt to changed circumstances that arise from a change in legal requirements,
a change in law, or a change in the identity, nature, status, or type of operations of the City, but only if (1)
the provisions of this Section, as so amended, would have permitted an underwriter to purchase or sell
Bonds in the primary offering of the Bonds in compliance with the Rule, taking into account any
amendments or interpretations of the Rule to the date of such amendment, as well as such changed
circumstances, and (2) either (a) the Holders of a majority in aggregate principal amount (or any greater
amount required by any other provision of this Ordinance that authorizes such an amendment) of the
Outstanding Bonds consent to such amendment or (b) a Person that is unaffiliated with the City (such as
nationally recognized bond counsel) determines that such amendment will not materially impair the
interests of the Holders and beneficial owners of the Bonds. The provisions of this Section may also be
amended from time to time or repealed by the City if the SEC amends or repeals the applicable provisions
of the Rule or a court of final jurisdiction determines that such provisions are invalid, but only if and to the
extent that reservation of the City's right to do so would not prevent underwriters of the initial public
offering of the Bonds from lawfully purchasing or selling Bonds in such offering. If the City so amends
the provisions of this Section, it shall include with any amended financial information or operating data
next provided in accordance with subsection (b) of this Section an explanation, in narrative form, of the
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302665169.3/ l001364201 24
reasons for the amendment and of the impact of any change in the type of financial information or operating
data so provided.
SECTION 29: Further Procedures. Any one or more of the Mayor, Mayor Pro Tem, City
Secretary, City Manager, Deputy City Manager, Assistant City Manager and Finance Director 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 on behalf of the City all
agreements, instruments, certificates or other documents, whether mentioned herein or not, as may be
necessary or desirable in order to carry out the terms and provisions of this Ordinance and the issuance,
sale and delivery of the Bonds. In addition, prior to the initial delivery of the Bonds, the Mayor, Mayor Pro
Tem, City Secretary, City Manager, Deputy City Manager, Assistant City Manager and Finance Director
or Bond Counsel to the City are each hereby authorized and directed to approve any changes or corrections
to this Ordinance or to any of the documents authorized and approved by this Ordinance: (1) in order to cure
any ambiguity, formal defect, or omission in the Ordinance or such other document; or (11) as requested by
the Attorney General of the State of Texas or his representative to obtain the approval of the Bonds by the
Attorney General. In the event that any officer of the City whose signature shall appear on any document
shall cease to be such officer before the delivery of such document, such signature nevertheless shall be
valid and sufficient for all purposes the same as if such officer had remained in office until such delivery.
SECTION 30: Incorporation of Findings and Determinations. The findings and
determinations of the City Council contained in the preamble hereof are hereby incorporated by reference
and made a part of this Ordinance for all purposes as if the same were restated in full in this Section.
SECTION 31: Public Meeting. It is officially found, determined, and declared that the meeting
at which this Ordinance is adopted was open to the public and public notice of the time, place, and subject
matter of the public business to be considered at such meeting, including this Ordinance, was given, all as
required by Texas Government Code, Chapter 551, as amended.
SECTION 32: Effective Date. This Ordinance shall take effect and be in full force immediately
from and after its adoption on the date hereof in accordance with the provisions of Texas Government Code,
Section 1201.028, as amended.
[Remainder of page intentionally left blank]
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302665169.3/ 10013 64201 25
DULY PASSED AND APPROVED by the City Council of the City of Wylie, Texas, this 12`h
day of May, 2026.
ATTEST:
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Stephame Storm, City Secretary
(City
atthew O. Porter, Mayor
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Ordinance No. 2026-20 — General Obligation Bond Issuance 2026
302665169/1001364201
1WXamI1 1031r1
FORM OF PAYING AGENT/REGISTRAR AGREEMENT
Ordinance No. 2026-20 — General Obligation Bond Issuance 2026
302665169.3/1001364201 Exhibit A