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O-2025-109 - 4/24/2025 CERTIFICATE FOR ORDINANCE NO. 0-2025-109 THE STATE OF TEXAS § COUNTIES OF TRAVIS AND WILLIAMSON § CITY OF ROUND ROCK § We, the undersigned officers and members of the City of Round Rock, Texas (the "City"), hereby certify as follows: 1. The City Council of the City convened in REGULAR MEETING ON THE 24TH DAY OF APRIL, 2025 (the "Meeting"), and the roll was called of the duly constituted officers and members of the City, to-wit: Craig Morgan, Mayor Michelle Ly, Place 1 Rene Flores, Place 2 Melissa Fleming, Place 3, Frank Ortega, Place 4 Kristin Stevens, Place 5, Mayor Pro-Tem Hilda Montgomery, Place 6 and all of the persons were present, except: , thus constituting a quorum. Whereupon, among other busi ess, the following was transacted at the Meeting: a written ORDINANCE AUTHORIZING THE ISSUANCE OF CITY OF ROUND ROCK, TEXAS LIMITED TAX NOTES, SERIES 2025; LEVYING AN AD VALOREM TAX IN SUPPORT OF THE NOTES; APPROVING AN OFFICIAL STATEMENT, A PAYING AGENT/REGISTRAR AGREEMENT AND OTHER RELATED DOCUMENTS; AWARDING THE SALE OF THE NOTES AND AUTHORIZING OTHER MATTERS RELATING TO THE NOTES was duly introduced for the consideration of the City Council. It was then duly moved and seconded that the Ordinance be passed on first reading; and, after due discussion, said motion carrying with it the passage of the Ordinance, prevailed and carried by the following vote: AYES: NOES: 2. A true, full and correct copy of the Ordinance passed at the Meeting described in the above and foregoing paragraphs is attached to and follows this Certificate; that the Ordinance has been duly recorded in the City Council's minutes of the Meeting; that the above and foregoing paragraphs are a true, full and correct excerpt from the City Council's minutes of the Meeting pertaining to the passage of the Ordinance; that the persons named in the above and foregoing paragraphs are the duly chosen, qualified and acting officers and members of the City Round Rock I CO/GO/LTN 20251 LTN Ord Cert Council as indicated therein; that each of the officers and members of the City Council was duly and sufficiently notified officially and personally, in advance, of the time, place and purpose of the Meeting, and that the Ordinance would be introduced and considered for passage at the Meeting, and each of the officers and members consented, in advance, to the holding of the Meetings for such purpose, and that the Meeting was open to the public and public notice of the time, place and purpose of the meeting was given, all as required by Chapter 551, Texas Government Code. 3. The Mayor of the City has approved and hereby approves the Ordinance; that the Mayor and the City Clerk of the City have duly signed the Ordinance; and that the Mayor and the City Clerk of the City hereby declare that their signing of this Certificate shall constitute the signing of the attached and following copy of the Ordinance for all purposes. Round Rock I CO/GO/LTN 2025 1 LTN Ord Cert SIGNED AND SEALED the 24th day of April, 2025. /r (OLA-wo" City lerk Mayor X40. � •'' p ' �m Round Rock I CO/GO/LTN 2025 LTN Ord Cert ORDINANCE NO. 0-2025-109 ORDINANCE AUTHORIZING THE ISSUANCE OF CITY OF ROUND ROCK,TEXAS LIMITED TAX NOTES,SERIES 2025; LEVYING AN AD VALOREM TAX IN SUPPORT OF THE NOTES; APPROVING AN OFFICIAL STATEMENT,A PAYING AGENT/REGISTRAR AGREEMENT AND OTHER RELATED DOCUMENTS; AWARDING THE SALE OF THE NOTES AND AUTHORIZING OTHER MATTERS RELATING TO THE NOTES Adopted April 24, 2025 Round Rock I CO/GO/LTN 20251 LTN Ordinance ORDINANCE NO. 0-2025-109 ORDINANCE AUTHORIZING THE ISSUANCE OF CITY OF ROUND ROCK,TEXAS LIMITED TAX NOTES,SERIES 2025; LEVYING AN AD VALOREM TAX IN SUPPORT OF THE NOTES; APPROVING AN OFFICIAL STATEMENT,A PAYING AGENT/REGISTRAR AGREEMENT AND OTHER RELATED DOCUMENTS; AWARDING THE SALE OF THE NOTES AND AUTHORIZING OTHER MATTERS RELATING TO THE NOTES THE STATE OF TEXAS § COUNTIES TRAVIS AND WILLIAMSON § CITY OF ROUND ROCK § WHEREAS, the City Council of the City of Round Rock, Texas (the "City") deems it advisable to issue limited tax notes in the amount of$4,775,000(the"Notes")for the purposes set forth herein; WHEREAS, the Notes hereinafter authorized and designated are to be issued and delivered pursuant Chapter 1431,Texas Government Code, as amended; WHEREAS, it is considered to be in the best interest of the City that the interest bearing Notes be issued; and WHEREAS, it is hereby officially found and determined that the meeting at which this Ordinance was passed was open to the public,and public notice of the time, place and purpose of the meeting was given, all as required by Chapter 551,Texas Government Code. NOW,THEREFORE,BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ROUND ROCK,TEXAS: Section 1. RECITALS AND PURPOSE OF THE NOTES. The recitals set forth in the preamble hereof are incorporated by reference herein and shall have the same force and effect as if set forth in this Section. The Notes of the City of Round Rock, Texas(the "City")are hereby authorized to be issued and delivered in the aggregate principal amount of$4,775,000(the "Notes") for the purpose of. (1) purchasing City vehicles for the City's police, fire, parks, transportation, and building construction and facility maintenance departments and replacement vehicles for other City departments as needed; and(2)paying the costs of issuing the Notes. Section 2. DESIGNATION, DATE, DENOMINATIONS, NUMBERS, AND MATURITIES OF NOTES. Each Note issued pursuant to this Ordinance shall be designated: "CITY OF ROUND ROCK, TEXAS LIMITED TAX NOTES, SERIES 202511, and initially there shall be issued,sold,and delivered hereunder fully registered Notes without interest coupons, dated May 20, 2025, in the respective denominations and principal amounts hereinafter stated, numbered consecutively from R-1 upward (except the initial Note delivered to the Attorney General of the State of Texas which shall be numbered T-1), payable to the respective initial registered owners thereof(as designated in Section 12 hereof), or to the registered assignee or Round Rock I CO/GO/LTN 2025 1 LTN Ordinance assignees of said Notes or any portion or portions thereof(in each case, the "Registered Owner"), and said Notes shall mature and be payable serially on August 15 in each of the years and in the principal amounts, respectively, as set forth in the following schedule: YEAR AMOUNT 2026 $655,000 2027 745,000 2028 785,000 2029 820,000 2030 865,000 2031 905,000 The term "Notes" as used in this Ordinance shall mean and include collectively the Notes initially issued and delivered pursuant to this Ordinance and all substitute Notes exchanged therefor, as well as all other substitute Notes and replacement Notes issued pursuant hereto, and the term "Note" shall mean any of the Notes. Section 3. INTEREST. The Notes scheduled to mature during the years, respectively, set forth below shall bear interest from the dates specified in the FORM OF NOTE set forth in this Ordinance to their respective dates of maturity or redemption prior to maturity at the following rates per annum: YEAR RATE 2026 5.000% 2027 5.000 2028 5.000 2029 5.000 2030 5.000 2031 5.000 Interest shall be payable in the manner provided and on the dates stated in the FORM OF NOTE set forth in this Ordinance. Section 4. CHARACTERISTICS OF THE NOTES. (a) Registration, Transfer, Conversion and Exchange; Authentication. The City shall keep or cause to be kept at The Bank of New York Mellon Trust Company,National Association (the "Paying Agent/Registrar") books or records for the registration of the transfer, conversion and exchange of the Notes (the "Registration Books"),and the City hereby appoints the Paying Agent/Registrar as its registrar and transfer agent to keep such books or records and make such registrations of transfers, conversions and exchanges under such reasonable regulations as the City and Paying Agent/Registrar may prescribe;and the Paying Agent/Registrar shall make such registrations,transfers,conversions and exchanges as herein provided. The Paying Agent/Registrar shall obtain and record in the Registration Books the address of the Registered Owner of each Note to which payments with respect to the Notes shall be mailed, as herein provided; but it shall be the duty of each Registered Owner to notify the Paying Agent/Registrar in writing of the address to which payments shall be mailed, and such interest payments shall not be mailed unless such notice has been given. The 2 Round Rock I CO/GO/LTN 2025 1 LTN Ordinance City shall have the right to inspect the Registration Books during regular business hours of the Paying Agent/Registrar, but otherwise the Paying Agent/Registrar shall keep the Registration Books confidential and, unless otherwise required by law, shall not permit their inspection by any other entity. The Paying Agent/Registrar shall make the Registration Books available within the State of Texas. The City shall pay the Paying Agent/Registrar's standard or customary fees and charges for making such registration, transfer, conversion, exchange and delivery of a substitute Note or Notes. Registration of assignments, transfers, conversions and exchanges of Notes shall be made in the manner provided and with the effect stated in the FORM OF NOTE set forth in this Ordinance. Each substitute Note shall bear a letter and/or number to distinguish it from each other Note. Except as provided in Section 4(c) of this Ordinance, an authorized representative of the Paying Agent/Registrar shall, before the delivery of any such Note, date and manually sign said Note, and no such Note shall be deemed to be issued or outstanding unless such Note is so executed. The Paying Agent/Registrar promptly shall cancel all paid Notes and Notes surrendered for conversion and exchange. No additional ordinances, orders, or resolutions need be passed or adopted by the governing body of the City or any other body or person so as to accomplish the foregoing conversion and exchange of any Note or portion thereof, and the Paying Agent/Registrar shall provide for the printing, execution, and delivery of the substitute Notes in the manner prescribed herein, and said Notes shall be printed or typed on paper of customary weight and strength. Pursuant to Chapter 1201, Texas Government Code, as amended, and particularly Subchapter D thereof, the duty of conversion and exchange of Notes as aforesaid is hereby imposed upon the Paying Agent/Registrar, and, upon the execution of said Note, the converted and exchanged Note shall be valid, incontestable, and enforceable in the same manner and with the same effect as the Notes which initially were issued and delivered pursuant to this Ordinance, approved by the Attorney General and registered by the Comptroller of Public Accounts. (b) Payment of Notes and Interest. The City hereby further appoints the Paying Agent/Registrar to act as the paying agent for paying the principal of and interest on the Notes, all as provided in this Ordinance. The Paying Agent/Registrar shall keep proper records of all payments made by the City and the Paying Agent/Registrar with respect to the Notes, and of all conversions and exchanges of Notes, and all replacements of Notes,as provided in this Ordinance. However, in the event of a 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 past due interest 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 Registered Owner appearing on the Registration Books at the close of business on the last business day next preceding the date of mailing of such notice. (c) In General. The Notes (i) shall be issued in fully registered form, without interest coupons, with the principal of and interest on such Notes to be payable only to the Registered Owners thereof, (ii) may be redeemed prior to their scheduled maturities(notice of which shall be given to the Paying Agent/Registrar by the City at least 45 days prior to any such redemption date), (iii) may be converted and exchanged for other Notes, (iv) may be transferred and assigned, (v) shall have the characteristics, (vi) shall be signed, sealed, executed and authenticated, (vii) the 3 Round Rock I CO/GO/LTN 20251 LTN Ordinance principal of and interest on the Notes shall be payable, and (viii) shall be administered and the Paying Agent/Registrar and the City shall have certain duties and responsibilities with respect to the Notes, all as provided, and in the manner and to the effect as required or indicated, in the FORM OF NOTE set forth in this Ordinance. The Notes initially issued and delivered pursuant to this Ordinance are not required to be, and shall not be, authenticated by the Paying Agent/Registrar, but on each substitute Note issued in conversion of and exchange for any Note or Notes issued under this Ordinance the Paying Agent/Registrar shall execute the PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE, in the form set forth in the FORM OF NOTE. (d) Substitute Paying A eg nt/Re ig stray. The City covenants with the Registered Owners of the Notes that at all times while the Notes are outstanding the City will provide a competent and legally qualified bank, trust company, financial institution, or other agency to act as and perform the services of Paying Agent/Registrar for the Notes under this Ordinance,and that the Paying Agent/Registrar will be one entity. The City reserves the right to, and may, at its option,change the Paying Agent/Registrar upon not less than 30 days written notice to the Paying Agent/Registrar,to be effective at such time which will not disrupt or delay payment on the next principal or interest payment date after such notice. In the event that the entity at any time acting as Paying Agent/Registrar(or its successor by merger,acquisition,or other method)should resign or otherwise cease to act as such,the City covenants that promptly it will appoint a competent and legally qualified bank, trust company, financial institution, or other agency to act as Paying Agent/Registrar under this Ordinance. Upon any change in the Paying Agent/Registrar, the previous Paying Agent/Registrar promptly shall transfer and deliver the Registration Books (or a copy thereof), along with all other pertinent books and records relating to the Notes, to the new Paying Agent/Registrar designated and appointed by the City. Upon any change in the Paying Agent/Registrar,the City promptly will cause a written notice thereof to be sent by the new Paying Agent/Registrar to each Registered Owner of the Notes, by United States mail, first-class postage prepaid,which notice also shall give the address of the new Paying Agent/Registrar. By accepting the position and performing as such,each Paying Agent/Registrar shall be deemed to have agreed to the provisions of this Ordinance, and a certified copy of this Ordinance shall be delivered to each Paying Agent/Registrar. (e) Book-Entry-Only System. The Notes issued in exchange for the Notes initially issued as provided in Section 4(h) shall be issued in the form of a separate single fully registered Note for each of the maturities thereof registered in the name of Cede & Co. as nominee of DTC and except as provided in subsection (f) hereof, all of the outstanding Notes shall be registered in the name of Cede& Co., as nominee of DTC. With respect to Notes registered in the name of Cede & Co., as nominee of DTC,the City and the Paying Agent/Registrar shall have no responsibility or obligation to any securities brokers and dealers, banks, trust companies, clearing corporations and certain other organizations on whose behalf DTC was created to hold securities to facilitate the clearance and settlement of securities transactions among DTC participants(the"DTC Participant")or to any person on behalf of whom such a DTC Participant holds an interest in the Notes. Without limiting the immediately preceding sentence, the City and the Paying Agent/Registrar shall have no responsibility or obligation with respect to (i) the accuracy of the records of DTC, Cede & Co. or any DTC Participant with respect to any ownership interest in the Notes, (ii) the delivery to any DTC 4 Round Rock I CO/GO/LTN 20251 LTN Ordinance participant or any other person, other than a Registered Owner, as shown on the Registration Books, of any notice with respect to the Notes, including any notice of redemption, or (iii) the payment to any DTC Participant or any person, other than a Registered Owner, as shown on the Registration Books of any amount with respect to principal of, premium, if any, or interest on the Notes. Notwithstanding any other provision of this Ordinance to the contrary, but to the extent permitted by law, the City and the Paying Agent/Registrar shall be entitled to treat and consider the person in whose name each Note is registered in the Registration Books as the absolute owner of such Note for the purpose of payment of principal, premium, if any, and interest, with respect to such Note, for the purposes of registering transfers with respect to such Notes,and for all other purposes of registering transfers with respect to such Notes,and for all other purposes whatsoever. The Paying Agent/Registmr shall pay all principal of, premium, if any, and interest on the Notes only to or upon the order of the respective Registered Owners,as shown in the Registration Books as provided in the Ordinance,or their respective attorneys duly authorized in writing,and all such payments shall be valid and effective to fully satisfy and discharge the City's obligations with respect to payment of principal of, premium, if any, and interest on the Notes to the extent of the sum or sums so paid. No person other than a Registered Owner, as shown in the Registration Books, shall receive a Note evidencing the obligation of the City to make payments of principal, premium, if any, and interest pursuant to the Ordinance. Upon delivery by DTC to the Paying Agent/Registrar of written notice to the effect that DTC has determined to substitute a new nominee in place of Cede & Co., and subject to the provisions in this Ordinance with respect to interest checks being mailed to the registered owner at the close of business on the Record Date the word "Cede& Co." in this Ordinance shall refer to such new nominee of DTC. (f) Successor Securities Depository; Transfer Outside Book-Entry-Only System. In the event that the City determines to discontinue the book-entry system through DTC or a successor or DTC determines to discontinue providing its services with respect to the Notes, the City shall either(i)appoint a successor securities depository,qualified to act as such under Section 17(a)of the Securities and Exchange Act of 1934,as amended, notify DTC and DTC Participants of the appointment of such successor securities depository and transfer one or more separate Notes to such successor securities depository or (ii) notify DTC and DTC Participants of the availability through DTC of Notes and transfer one or more separate Notes to DTC Participants having Notes credited to their DTC accounts. In such event,the Notes shall no longer be restricted to being registered in the Registration Books in the name of Cede& Co., as nominee of DTC, but may be registered in the name of the successor securities depository,or its nominee,or in whatever name or names Registered Owner transferring or exchanging Notes shall designate, in accordance with the provisions of this Ordinance. (g) Payments to Cede & Co. Notwithstanding any other provision of this Ordinance to the contrary, so long as any Note is registered in the name of Cede& Co., as nominee of DTC, all payments with respect to principal of,premium,if any,and interest on such Note and all notices with respect to such Note shall be made and given, respectively, in the manner provided in the Blanket Representation of the City to DTC. (h) Initial Note. The Notes herein authorized shall be initially issued as fully registered Notes,being one Note for each maturity in the denomination of the applicable principal amount and the initial Note shall be registered in the name of the initial purchaser or the designees thereof as set forth in Section 12 hereof. The initial Note shall be the Note submitted to the Office 5 Round Rock I CO/GO/LTN 2025 1 LTN Ordinance 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. Immediately after the delivery of the initial Note,the Paying Agent/Registrar shall cancel the initial Note delivered hereunder and exchange therefor Notes in the form of a separate single fully registered Note for each of the maturities thereof registered in the name of Cede&Co.,as nominee of DTC and except as provided in Section 4(f), all of the outstanding Notes shall be registered in the name of Cede& Co., as nominee of DTC. Section 5. FORM OF NOTE. The form of the Note, including the form of Paying Agent/Registrar's Authentication Certificate,the form of Assignment and the form of Registration Certificate of the Comptroller of Public Accounts of the State of Texas to be attached to the Note initially issued and delivered pursuant to this Ordinance, shall be, respectively, substantially as follows, with such appropriate variations, omissions or insertions as are permitted or required by this Ordinance. FORM OF NOTE NO. R- UNITED STATES OF AMERICA PRINCIPAL STATE OF TEXAS AMOUNT TRAVIS AND WILLIAMSON COUNTIES $ CITY OF ROUND ROCK,TEXAS LIMITED TAX NOTE, SERIES 2025 INTEREST RATE DATE OF NOTES MATURITY DATE CUSIP NO. May 20, 2025 REGISTERED OWNER: PRINCIPAL AMOUNT: ON THE MATURITY DATE specified above,the CITY OF ROUND ROCK,TEXAS in Travis and Williamson Counties, Texas (the "City"), being a political subdivision of the State of Texas, hereby promises to pay to the Registered Owner set forth above, or registered assigns (hereinafter called the "Registered Owner") the principal amount set forth above, and to pay interest thereon from the date of initial delivery of the Notes, on February 15, 2026 and semiannually on each August 15 and February 15 thereafter to the maturity date specified above, or the date of redemption prior to maturity, at the interest rate per annum specified above; except that if this Note is required to be authenticated and the date of its authentication is later than the first Record Date(hereinafter defined), such principal amount shall bear interest from the interest payment date next preceding the date of authentication, unless such date of authentication is after any Record Date,as hereinafter defined,but on or before the next following interest payment date, in which case such principal amount shall bear interest from such next following interest payment date; provided, however, that if on the date of authentication hereof the interest on the Note or Notes, if any, for which this Note is being exchanged or converted from is due but has not been paid, then this Note shall bear interest from the date to which such interest has been paid in full. 6 Rand Rock I CO/GO/LTN 20251 LTN Ordinance Notwithstanding the foregoing, during any period in which ownership of the Notes is determined only by a book entry at a securities depository for the Notes, any payment to the securities depository, or its nominee or registered assigns, shall be made in accordance with existing arrangements between the City and the securities depository. THE PRINCIPAL OF AND INTEREST ON this Note are payable in lawful money of the United States of America, without exchange or collection charges. The principal of this Note shall be paid to the Registered Owner hereof upon presentation and surrender of this Note at maturity, or upon the date fixed for its redemption prior to maturity, at The Bank of New York Mellon Trust Company,National Association,which is the"Paying Agent/Registrar"for this Note at their office in Pittsburgh, Pennsylvania (the "Designated Payment/Transfer Office"). The payment of interest on this Note shall be made by the Paying Agent/Registrar to the Registered Owner hereof on each interest payment date by check or draft, dated as of such interest payment date,drawn by the Paying Agent/Registrar on, and payable solely from,funds of the City required by the ordinance authorizing the issuance of this Note (the "Ordinance")to be on deposit with the Paying Agent/Registrar for such purpose as hereinafter provided; and such check or draft shall be sent by the Paying Agent/Registrar by United States mail,first-class postage prepaid,on each such interest payment date, to the Registered Owner hereof, at its address as it appeared on the last business day of the month preceding each such date(the "Record Date")on the registration books kept by the Paying Agent/Registrar(the "Registration Books"). In addition, interest may be paid by such other method, acceptable to the Paying Agent/Registrar, requested by, and at the risk and expense of, the Registered Owner. In the event of a non-payment of interest on a scheduled payment date, and for 30 days thereafter, a new record date for such interest payment (a "Special Record Date") will be established by the Paying Agent/Registrar, if and when funds for the payment of such interest have been received from the City. Notice of the Special Record Date and of the scheduled payment date of the past due interest(which shall be 15 days after the Special Record Date) shall be sent at least five business days prior to the Special Record Date by United States mail, first-class postage prepaid, to the address of each owner of a Note appearing on the Registration Books at the close of business on the last business day next preceding the date of mailing of such notice. Notwithstanding the foregoing,during any period in which ownership of the Notes is determined only by a book entry at a securities depository for the Notes, payments made to the securities depository, or its nominee, shall be made in accordance with arrangements between the City and the securities depository. DURING ANY PERIOD in which ownership of the Notes is determined only by a book entry at a securities depository for the Notes, if fewer than all of the Notes of the same maturity and bearing the same interest rate are to be redeemed, the particular Notes of such maturity and bearing such interest rate shall be selected in accordance with the arrangements between the City and the securities depository. ANY ACCRUED INTEREST due at maturity or upon the redemption of this Note prior to maturity as provided herein shall be paid to the Registered Owner upon presentation and surrender of this Note for redemption and payment at the Designated Payment/Transfer Office of the Paying Agent/Registrar. The City covenants with the Registered Owner of this Note that on or before each principal payment date or interest payment date for this Note it will make available to the Paying Agent/Registrar,from the "Interest and Sinking Fund"created by the Ordinance,the 7 Round Rock j CO/GO/LTN 2025 1 LTN Ordinance amounts required to provide for the payment, in immediately available funds, of all principal of and interest on the Notes, when due. IF THE DATE for the payment of the principal of or interest on this Note shall be a Saturday, Sunday, a legal holiday or a day on which banking institutions in the city where the principal corporate trust office of the Paying Agent/Registrar is located are authorized by law or executive order to close,then the date for such payment shall be the next succeeding day which is not such a Saturday, Sunday, legal holiday or day on which banking institutions are authorized to close; and payment on such date shall have the same force and effect as if made on the original date payment was due. THIS NOTE is one of a series of Notes dated May 20, 2025, authorized in accordance with the Constitution and laws of the State of Texas in the principal amount of$4,775,000(THE "NOTES") FOR THE PURPOSE OF (1) PURCHASING CITY VEHICLES FOR THE CITY'S POLICE, FIRE, PARKS, TRANSPORTATION, AND BUILDING CONSTRUCTION AND FACILITY MAINTENANCE DEPARTMENTS AND REPLACEMENT VEHICLES FOR OTHER CITY DEPARTMENTS AS NEEDED; AND (2) PAYING THE COSTS OF ISSUING THE NOTES. THE NOTES are not subject to redemption prior to their scheduled maturities. ALL NOTES OF THIS SERIES are issuable solely as fully registered notes, without interest coupons, in the denomination of any integral multiple of $5,000. As provided in the Ordinance, this Note may, at the request of the Registered Owner or the assignee or assignees hereof, be assigned, transferred, converted into and exchanged for a like aggregate principal amount of fully registered Notes, without interest coupons, payable to the appropriate Registered Owner,assignee or assignees,as the case may be,having the same denomination or denominations in any integral multiple of$5,000 as requested in writing by the appropriate Registered Owner, assignee or assignees, as the case may be, upon surrender of this Note to the Paying Agent/Registrar for cancellation, all in accordance with the form and procedures set forth in the Ordinance. Among other requirements for such assignment and transfer, this Note must be presented and surrendered to the Paying Agent/Registrar, together with proper instruments of assignment, in form and with guarantee of signatures satisfactory to the Paying Agent/Registrar, evidencing assignment of this Note or any portion or portions hereof in any integral multiple of $5,000 to the assignee or assignees in whose name or names this Note or any such portion or portions hereof is or are to be registered. The form of Assignment printed or endorsed on this Note may be executed by the Registered Owner to evidence the assignment hereof, but such method is not exclusive, and other instruments of assignment satisfactory to the Paying Agent/Registrar may be used to evidence the assignment of this Note or any portion or portions hereof from time to time by the Registered Owner. The Paying Agent/Registrar's reasonable standard or customary fees and charges for assigning,transferring,converting and exchanging any Note or portion thereof will be paid by the City. In any circumstance,any taxes or governmental charges required to be paid with respect thereto shall be paid by the one requesting such assignment, transfer, conversion or exchange, as a condition precedent to the exercise of such privilege. The Paying Agent/Registrar shall not be required to make any such transfer, conversion, or exchange (i) during the period commencing with the close of business on any Record Date and ending with the opening of business on the next following principal or interest payment date,or(ii)with respect to any Note or any portion thereof called for redemption prior to 8 Round Rock I CO/GO/LTN 2025 1 LTN Ordinance maturity,within 45 days prior to its redemption date;provided,however,such limitation of transfer shall not be applicable to an exchange by the Registered Owner of the unredeemed balance of the Note. WHENEVER the beneficial ownership of this Note is determined by a book entry at a securities depository for the Notes, the foregoing requirements of holding, delivering or transferring this Note shall be modified to require the appropriate person or entity to meet the requirements of the securities depository as to registering or transferring the book entry to produce the same effect. IN THE EVENT any Paying Agent/Registrar for the Notes is changed by the City,resigns, or otherwise ceases to act as such, the City has covenanted in the Ordinance that it promptly will appoint a competent and legally qualified substitute therefor, and cause written notice thereof to be mailed to the Registered Owners of the Notes. IT IS HEREBY certified, recited and covenanted that this Note has been duly and validly authorized, issued and delivered; that all acts, conditions and things required or proper to be performed, exist and be done precedent to or in the authorization, issuance and delivery of this Note have been performed, existed and been done in accordance with law; that this Note is a general obligation of said City, issued on the full faith and credit thereof, and that annual ad valorem taxes sufficient to provide for the payment of the interest on and principal of this Note, as such interest comes due and such principal matures, have been levied and ordered to be levied against all taxable property in said City, and have been pledged for such payment, within the limit prescribed by law, all as provided in the Ordinance. BY BECOMING the Registered Owner of this Note, the Registered Owner thereby acknowledges all of the terms and provisions of the Ordinance, agrees to be bound by such terms and provisions, acknowledges that the Ordinance is duly recorded and available for inspection in the official minutes and records of the City Council, and agrees that the terms and provisions of this Note and the Ordinance constitute a contract between each Registered Owner hereof and the City. IN WITNESS WHEREOF, the City has caused this Note to be signed with the manual or facsimile signature of the Mayor of the City and countersigned with the manual or facsimile signature of the City Clerk of said City, and has caused /thhefficial seal of the City to be duly i essed, or placed in facsimile, on this Note. Mayor (to,F PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE (To be executed if this Note is not accompanied by an executed Registration Note of the Comptroller of Public Accounts of the State of Texas) 9 Round Rock I CO/GO/LTN 2025 1 LTN Ordinance