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SectIOn 2 03 PerfectIOn of Secuntv Interest. Chapter 1208, Texas Government Code applIes to the Issuance of the Certificates and the pledge of the taxes and revenues granted by the CIty under SectIOns 2.01 and 2 02 of this Ordmance, and such pledge, therefore, IS valId, effectIve, and perfected If Texas law IS amended at any tIme while the Certificates are outstandmg and unpaId such that the pledge of the taxes granted by the CIty under SectIOn 2 01 of thIS Ordmance IS to be subject to the fihng reqUirements of Chapter 9, Texas Busmess and Commerce Code, then m order to preserve to the registered owners of the CertIficates of the CertIficates the perfectIOn of the secunty mterest m Said pledge, the CIty agrees to take such measures as It detenmnes are reasonable and necessary under Texas law to comply WIth the apphcable proVISIOns of Chapter 9, Business and Commerce Code and enable a filing to perfect the secunty mterest m said pledge to occur ARTICLE III AUTHORIZATION, GENERAL TERMS AND PROVISIONS REGARDING THE CERTIFICATES SectIOn 3 01 AuthonzatIOn. (a) The CIty'S certIficates of obhgatIOn to be deSIgnated "CIty of San Marcos, Texas, CombmatIOn Tax and Revenue CertIficates of ObligatIOn, Senes 2007," are hereby authorized to be Issued and dehvered m accordance WIth the ConstItutIOn and laws of the State of Texas in the aggregate pnncIpal amount of $15,575,000 for the purpose of paymg contractual obhgatIOns mcurred or to be mcurred for: constructing, acquiring and equipping a conference center facility and related improvements including parking facilities and utility and infrastructure improvements to be located in the vicinity of the northeast side of the intersection of McCarty Lane and IH-3 5; capitalizing interest on the Certificates, and the payment of professional services in connection therewith including legal, fiscal and engineering fees and the costs of issuing the Certificates SectIOn 3 02 Date. DenommatIOn. MatuntIes, Numbers and Interest. (a) The CertIficates shall have the Ongmal Issue Date of January 15, 2007, shall be m fully regIstered form, WIthout coupons, m the denommatIOn of$5,000 or any mtegra1 multiple thereof, and shall be numbered separately from one upward or such other deSIgnatIOn acceptable to the City and the Paymg Agent/RegIstrar (b) The CertIficates shall mature on February 15 m the years and m the pnncIpal amounts and mterest rates set forth below, interest on each CertIficate accruing from the Ongma1 Issue Date or the most recent Interest Payment Date to whIch mterest has been paid or proVIded for at the per annum rates of mterest, payable semIannually on February 15 and August 15 of each year until the pnncIpal amount shall have been paId or provlSlon for such payment shall have been made, commencmg February 15,2008, as follows' San Marcos CTRCO 2007' Ordinance 5