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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 Oland 2 02 of thIs Ordmance, and such pledge, therefore, is valid, effective, and perfected. If Texas law is alTlended 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 filing reqUirements of Chapter 9, Texas Busmess and Commerce Code, then 10 order to preserve to the registered owners of the Certificates of the Certificates the perfectiOn of the secunty mterest 10 said pledge, the City agrees to take such measures as it determmes are reasonable and necessary under Texas law to comply With the applicable provlSlons of Chapter 9, Busmess and Commerce Code and enable a filing to perfect the secunty mterest 10 said pledge to occur ARTICLE III AUTHORIZATION, GENERAL TERMS AND PROVISIONS REGARDING THE CERTIFICATES SectiOn 3 01, AuthonzatiOn. (a) The City'S certificates of obligatiOn to be deSignated "City of San Marcos, Texas, CombinatiOn Tax and Revenue Certificates of Obligation, Taxable Senes 2007 A," are hereby authonzed to be issued and delivered 10 accordance With the ConstitutiOn and laws of the State of Texas 10 the aggregate prinCipal alTlount of $6,905,000 for the purpose of paymg contractual obligatIOns incurred or to be mcurred for constructmg, acqulflng and eqUippmg a conference center facility and related improvements includmg parkmg facilities and utility and mfrastructure improvements to be located 10 the Vicinity of the northeast SIde of the mtersectiOn of McCarty Lane and IH-35, capitalizmg mterest on the Certificates, and the payment of profeSSiOnal services 10 connection thereWith mcludmg legal, fiscal and engmeenng fees and the costs of issumg the Certificates SectiOn 302 Date. Denommation. Matunties. Numbers and Interest. (a) The Certificates shall have the Onginal Issue Date of January 15, 2007, shall be 10 fully regIstered form, Without coupons, 10 the denommatiOn of$5,000 or any mtegral multiple thereof, and shall be numbered separately from one upward or such other deSignatiOn acceptable to the City and the Paying Agent/Registrar (b) The Certificates shall mature on February 15m the years and 10 the pnnclpal amounts and mterest rates set forth below, mterest on each Certificate accruing from the Ongmal 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 alTlount shall have been paid or provlSlon for such payment shall have been made, commencmg February 15,2008, as follows San Marcos CTRCO 2007A. Ordinance 5