Ord 2005-098 - Laserfiche WebLink

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I I I Section 2.02. Revenue Pledge. The Certificates are additionally secured by and shall be payable from a pledge of the Surplus Revenues. Section 2.03 Perfection of Security Interest. Chapter 1208, Texas Government Code apphes 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 ofthis Ordinance, and such pledge, therefore, IS valid, effectIve, and perfected. If Texas law is amended at any time while the Certificates are outstanding and unpaid such that the pledge of the taxes granted by the City under Section 2.01 of thIS Ordinance is to be subject to the filing requirements of Chapter 9, Texas Business and Commerce Code, then in order to preserve to the regIstered owners of the Certificates of the Certificates the perfectIon of the security interest in said pledge, the City agrees to take such measures as it determines are reasonable and necessary under Texas law to comply with the applicable provisions of Chapter 9, Business and Commerce Code and enable a fihng to perfect the security interest m said pledge to occur Section 2.04 Appropnation. There is hereby appropriated from funds of the CIty lawfully available for such purpose a sum of money suffiCIent to pay the interest to become due and payable with respect to the Certificates on August 15,2006 ARTICLE III AUTHORIZATION, GENERAL TERMS AND PROVISIONS REGARDING THE CERTIFICATES Section 3 01 Authorization. (a) The City's certIficates of obligation to be designated "City of San Marcos, Texas, Combination Tax and Revenue Certificates ofObhgation, Series 2005," are hereby authorized to be Issued and delivered in accordance with the Constitution and laws of the State of Texas in the aggregate prinCIpal amount of $6,225,000 for the purpose of paying contractual obligations to be incurred for the following purposes. constructmg, reconstructmg and Improvmg streets, ADA buildmg renovatIOns, Improvmg and equipping parks, purchasing, improving and equipping IT Department, MumcIpal Court, Police Department, Library, EqUipment ServIces Department, Fire Department, Engmeenng Department, Traffic Control Department, Streets Department, Ammal ServIces Department, EnVIronmental Health Department, Rangers Department, Marshall's Office, Parks and RecreatIOn Department vehIcles, eqUipment and faCIlItIes, deSIgn servIces for new multI-servIce center; and acqUiSItIon of new aenal photographs and planemetncs for use by CIty departments, and to pay costs of issuance WIth respect to such certificates of obligation, San Marcos CTRCO 2005 Ord 12-07 2005 5