Ord 2006-018 - Laserfiche WebLink

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I I I This Bond and all the Bonds of the series of which it is a part constitute special obligations of the City of San Marcos, Texas, and, together with certain Previously Issued Parity Obligations defined and described in the Ordinance, are payable as to both principal and interest from and equally secured by a first and prior lien on and pledge ofthe Net Revenues of the City's combined Waterworks and Waste Water System. Reference is hereby made to the Ordinance for a more complete statement of the covenants and provisions securing the payment of this Bond and the series of which it is one. Whenever the beneficial ownership ofthis Bond is determined by a book entry at a securities depository for the Bonds, the foregoing requirements of holding, delivering or transferring this Bond shall be modified to require the appropriate person or entity to meet the requirements of the securities depository as to registering or transferring the book entry to produce the same effect. The City expressly reserves the right to issue further and additional special revenue obligations equally secured by a lien on and pledge of the net revenues of the City's combined Waterworks and Waste Water System on a parity with the bonds of this issue; provided, however, that any and all such additional parity obligations may be issued only in accordance with and subject to the covenants, conditions, limitations and restrictions relating thereto which are set out and contained in the Ordinance, to which reference is hereby made for more complete and full particulars. The holders ofthe Bonds are not entitled to demand payment thereof out of any money raised by taxation. The City has reserved the option to redeem the Bonds maturing on and after August 15,2013, before their respective scheduled maturity in whole or from time to time in part in integral multiples of$5,000 on August 15,2012, or on any date thereafter, at a price equal to the principal amount of the Bonds so called for redemption plus accrued interest to the redemption date. If less than all of the Bonds are to be redeemed, the City shall determine the amounts thereofto be redeemed and shall direct the Paying Agent/Registrar to call by lot Bonds, or portions thereof within such maturity or maturities and in such amounts, for redemption. The Bonds maturing on August 15 in the years 2021, 2026 and 2036 (the "Term Bonds") are subject to mandatory sinking fund redemption by lot prior to maturity in the following amounts, on the following dates and at a price of par plus accrued interest to the redemption date. Bonds Maturine: Aue:ust 15, 2021 Redemption Date August 15,2017 August 15,2018 Principal Amount $ 60,000 65,000 SANMARCOS/WWWSRev2006A-2: Ord;nance 21