Ord 1984-026 - Laserfiche WebLink

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THE CITY OF SAN MARCOS (the "City"), in the County of Hays, State of Texas, hereby promises to pay to or the registered assigns thereof, on the due date specified above the principal sum of DOLLARS (or so much thereof as shall not have been paid upon prior redemption) and to pay interest thereon while this Certificate is outstanding and unpaid from the later of the Initial Date or the most recent interest payment date to which interest has been paid or duly provided for, semiannually on July 1 and January 1 in each year, commencing July 1, 1984. THE PRINCIPAL of this Certificate is payable at the principal office of the Paying Agent/Registrar executing the registration certificate appearing hereon, upon presentation and surrender of this Certificate. The interest pay~ble on any interest payment date will be paid to the person in whose name this Certificate (or one or more predecessor Certificates) is registered at the close of business on the Record Date for such interest payment which shall be the 15th day of the month next preceding such interest payment date; provided, however, that in the event of non-payment of interest on a scheduled interest payment date, and for 30 days thereafter, a new record date for such interest payment (the "Special Record Date") will be established by the Paying Agent/Registrar, if and when funds for the payment of such interest have been received from the City. Notice of the Special Record Date and of the scheduled payment date of the past due interest (the "Special Payment Date", which shall be 15 days after the Special Record Date) shall be sent at least 5 business days prior to the Special Record Date by United States mail, first class, postage prepaid, to the address of each Holder of a Certificate appearing on the books of the Paying Agent/Registrar at the close of business on the last business day preceding the date of mailing of such notice. All payments of principal of, premium, if any, and interest on this Certificate shall be in lawful money of the United States of America dn shall be made by the Paying Agent/Registrar by check sent on or prior to the appropriate date of payment, by United States Mail, first class postage prepaid, to the reg istered owner hereof on the applicable dates specified, at the address appearing on the Registration Books, or by such other method acceptable to the Paying Agent/Reg istr ar requested by the registered owner at the Holder's risk and expense. THIS Certificate is one of the series designated in its title, issued in the aggregate principal amount of $300,000 (the "Certificates") for the purpose of paying contractual obligations to be incurred for the purchase and equipment of police vehicles and the payment of professional services, including financial advisory and legal services, in accordance with the Constitution and laws of the State of Texas, and particularly Article 2368a.l of the Revised Civil Statutes of Texas, and pursuant to an order by the Ci ty Council authorizing the issuance, sale and delivery of the Certificates (the "Ordinance"). THE CERTIFICATES and the interest thereon are payable from the levy of a direct and continuing ad valorem tax against all taxable property in the City and by a pledge of and lien on the net revenues of the City's w~ter~orks and sewer system; provided, however, that such pledge and l1en 1S subordinate and inferior to the pledge of and lien on such revenues to the Outstanding Bonds (a such term is defined in the Ordinance) and to any bonds or other securities issued to be on a -5-