Ord 1984-033 - Laserfiche WebLink

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Civil Statutes of Texas, as amended and pursuant to an ordinance by the City Council of the City 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 waterworks and sewer system; provided, however, that such pledge and lien is subordinate and inferior to the pledge of and lien on such revenues to certain Outstanding Bonds (as such term is defined in the Ordinance) and to any bonds or other obligations issued to be on a parity with any of the Outstanding Bonds. AS PROVIDED in the Ordinance and subject to certain limitations set forth therein, this Certificate is transferable on the Registration Books of the City, upon surrender of this Certificate for transfer at the principal corporate office of the Paying Agent/Registrar, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Paying Agent/Registrar duly executed by, the registered owner hereof or his attorney duly authorized in writing, and thereupon one or more new fully registered Certificates of the same Stated Maturity, of authorized denominations, bearing the same rate of interest, and for the same aggregate principal amount will be issued to the designated transferee or transferees. By acceptance of this Certificate, the Holder expressly assents to all of the provisions of the Ordinance. THE CITY, the Paying Agent/Registrar, and any agent of either of them may treat the person in whose name this Certificate is registered as the owner hereof for the purpose of receiving payment as herein provided and for all other purposes, whether or not this Certificate be overdue, and neither the City, the Paying Agent/Registrar, nor any such agent, shall be affected by notice to the contrary. IT IS HEREBY certified, recited and covenanted that all acts, condi tions and things required to be performed, exist and be done precedent to or in the issuance of this Certificate in order to render the same a legal, valid and binding obligation of the City in accordance with its terms have been performed, existed and have been done, in regular and due time, form and manner, as required by law; and that the issuance of the Certificates does not exceed any constitutional or statutory limitation. IN WITNESS WHEREOF, the City has caused this Certificate to be duly executed under its official seal. CITY OF SAN MARCOS, TE XAS By xxxxxxxxxxxxxxxxxxxxxxxxx COUNTERSIGNED: Mayor xxxxxxxxxxxxxxxxxxxxxxxx City Secretary (SEAL) -8-