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ORDINANCE 1987-1 33 l"'- SO 00 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, AUTHORIZING THE ISSUANCE AND SALE OF CITY OF SAN MARCOS, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1987, IN THE AGGREGATE PRINCIPAL AMOUNT OF $1,400,000, PRESCRIBING THE FORM OF SAID CERTIFICATES; PROVIDING FOR THE SECURITY FOR AND PAYMENT OF SAID CERTIFICATES; AWARDING THE SALE THEREOF; APPROVING THE OFFICIAL STATEMENT; AND ENACTING OTHER PROVISIONS RELATING TO THE SUBJECT AND DECLARING AN EMERGENCY WHEREAS, this City Council, by resolution adopted on December 15, 1986, directed publication of notice of the intention of the City of San Marcos, Texas (the "City") to issue a maximum principal amount of not exceeding $1,400,000 certificates of obligation of the City for the purposes hereinafter set forth; WHEREAS, such notice was published in the manner and to the extent required by law; WHEREAS, there has not been filed with the City Secretary or any other officer of the City a petition protesting the issuance of such certificates of obligation and requesting an election on same; and WHEREAS, it is affirmatively found that this City Council is authorized to proceed with the issuance and sale of such certificates of obligation as authorized by the Constitution and laws of the State of Texas, particularly Article 2368a.1, V.A.T.C.S., as amended; 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 Order the following terms shall have the meanings specified below: "Certificate" means any of the Certificates. "Certificates" means the City's certificates of obligation entitled "City of San Marcos, Texas, Certificates of Obligation, Series 1987" in the aggregate principal amount of $1,400,000 authorized to be issued by Section 3.01 of this Ordinance.