Ord 2007-008 - Laserfiche WebLink

Home Browse Search

(d) All officers of the CIty are authonzed to do any and all thmgs to execute and deliver any and all documents, certIficates or other mstruments necessary or reqUired for the Issuance of any policy or policIes of mumclpal bond msurance relatmg to the CertIficates The ordInance requuements and accompanying commItments for such msurance are hereby approved and made a part of thIS Ordinance by reference To the extent permitted by applicable law, the CIty will comply with all notIce and other applicable requirements of the insurer Issuing the muniCIpal bond insurance policy and finanCIal guaranty msurance in connection WIth the Issuance of the Bonds, as such reqUirements may be 10 the effect and transmItted to Bond Counsel WIth such msurer's commItment to Issue such msurance (e) The obligatIOn of the Purchaser to accept delivery of the CertIficates IS subJect to the Purchaser's bemg furnished WIth the final, approving opmIOn of McCall, Parkhurst & Horton L.L.P , Bond Counsel for the CIty, whIch opmIOn shall be dated and delivered the Closmg Date The engagement of such firm as bond counsel for the CIty 10 connectIOn WIth the Issuance, sale and delivery of the CertIficates is hereby approved, ratIfied and confirmed. SectIOn 7 02 Control and Deliverv of CertIficates (a) The Mayor of the CIty IS hereby authonzed to have control of the Imtlal CertIficate and all necessary records and proceedmgs pertammg thereto pendmg mvestIgation, eXalTlmatIOn and approval of the Attorney General of the State of Texas, regIstratIOn by the Comptroller of Public Accounts of the State of Texas, and regIstration WIth, and mltlal exchange or transfer by, the Paymg Agent/RegIstrar (b) After regIstratIOn by the Comptroller of Public Accounts of the State of Texas, delivery of the CertIficates shall be made to the Purchaser under and subJect to the general supervIsion and duectlon of the Mayor of the CIty, agamst receIpt by the CIty of all alTlounts due to the CIty under the terms of sale i\FlllI<=LE 'fIll CREATION OF FUNDS AND ACCOUNTS, DEPOSIT OF PROCEEDS, INVESTMENTS SectIon 8 01 CreatIon of Funds (a) The CIty hereby establishes the followmg speCIal funds or accounts, (i) the CIty of San Marcos, Texas, CombmatIOn Tax and Revenue Certificates of ObligatIOn, Taxable Senes 2007 A, Interest and Slnkmg Fund (the "Interest and SInkmg Fund"), and (ii) the CIty of San Marcos, Texas, CombmatIOn Tax and Revenue CertIficates of ObligatIOn, Taxable Senes 2007 A, ConstructIOn Fund (the "ConstructIOn Fund") (b) The Interest and Slnkmg Fund and the ConstructIOn Fund shall be mamtamed at an offiCIal depOSItory of the CIty San Marcos CTRCO 2007A. Ordinance 23