Ord 1988-018 - Laserfiche WebLink

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AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, AUTHORIZING THE ISSUANCE AND SALE OF CITY OF SAN MARCOS, TEXAS, WATERWORKS AND SEWER SYSTEM REVENUE BONDS, SERIES 1988, IN THE AGGREGATE PRINCIPAL AMOUNT OF $1,320,000, PRESCRIBING THE FORM OF SAID BONDS; PROVIDING FOR THE SECURITY FOR AND PAYMENT OF SAID BONDS; AWARDING THE SALE THEREOF; APPROVING THE OFFICIAL STATEMENT; ENACTING OTHER PROVISIONS RELATING TO THE SUBJECT; AND DECLARING AN EMERGENCY WHEREAS, by virtue of an election held in the City of San Marcos, Texas, (the "City") on April 7, 1984, this City Council became authorized to issue revenue bonds of the City in the aggregate principal amount of $6,200,000 for the purposes hereinafter set forth; and WHEREAS, $1,170,000 principal amount of such voted bonds have been issued heretofore, and this City Council finds that it is necessary and appropriate to provide for the issuance of an additional $1,320,000 of such voted bonds, leaving $3,710,000 in principal amount thereof to be issued hereafter; Now, Therefore BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS: ARTICLE I DEFINITIONS AND OTHER PRELIMINARY MATTERS Section 1.01. Definitions. Unless otherwise expressly provided or unless the context clearly requires otherwise, in this Ordinance the following terms shall have the meanings specified below: "Additional Bonds" shall mean the additional parity revenue bonds and obligations permitted to be issued under the provisions of this Ordinance and the Ordinances authorizing the Outstanding Bonds. "Bond" means any of the Bonds. "Bonds" means the City's bonds entitled "City of San Marcos, Texas, Waterworks and Sewer System Revenue Bonds, Series 1988" in the aggregate principal amount of $1,320,000 authorized to be issued by Section 3.01 of this Ordinance. "Closing Date" means the date of the initial delivery of and payment for the Bonds.