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<br />193
<br />
<br />Regular Meeting
<br />
<br />August 10,1987
<br />
<br />Page 4
<br />
<br />Ms. Kissler moved for adoption of the Ordinance on emergency and Mr.
<br />Brown seconded the motion. Mr. Fisher read the following amendments
<br />into the record. Page 4, ARTICLE III, Section 3.02. (b) . . .
<br />
<br /> Principal Interest Principal Interest
<br />"Year Amount Rate Year Amount Rate
<br />1989 $25,000 9.00% 1994 50,000 6.30%
<br />1990 25,000 9.00% 1995 50,000 6.45%
<br />1991 50,000 7.50% 1996 75,000 6.60%
<br />1992 50,000 6.00% 1997 75,000 6.70%
<br />1993 50,000 6.15% 1998 50,000 6.80%"
<br />
<br />and on Page 23, ARTICLE XII, Section 12.01. . . . "awarded to Rotan
<br />Mosle, Inc., at a price of par, plus accrued interest from (and con-
<br />tinuing on Page 24) the date of the Bonds to the Closing Date, and a
<br />premium of $-0-." . . . .; and to amend the caption to include the
<br />following words at the end of the caption: AND DECLARING AN EMERGEN-
<br />CY. Mayor Younger moved to amend the Ordinance to incorporate Mr.
<br />Fisher's amendments as read into the record and Mr. Farr seconded the
<br />motion, which passed unanimously. The Council then voted unanimously
<br />for adoption of the Ordinance on emergency.
<br />
<br />Mayor Younger introduced for consideration adoption of an Ordinance
<br />on emergency, the caption which was read as follows:
<br />
<br />AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN
<br />MARCOS, TEXAS, AUTHORIZING THE ISSUANCE AND SALE OF
<br />CITY OF SAN MARCOS, TEXAS, COMBINATION TAX AND REVENUE
<br />CERTIFICATES OF OBLIGATION, SERIES 1987, IN THE AGGRE-
<br />GATE PRINCIPAL AMOUNT OF $200,000, PRESCRIBING THE
<br />FORM OF SAID CERTIFICATES; PROVIDING FOR THE SECURITY
<br />FOR AND PAYMENT OF SAID CERTIFICATES; AWARDING THE
<br />SALE THEREOF; APPROVING THE OFFICIAL STATEMENT; ENACT-
<br />ING OTHER PROVISIONS RELATING TO THE SUBJECT; AND DE-
<br />CLARING AN EMERGENCY.
<br />
<br />Mr. Hernandez moved for adoption of the Ordinance on emergency and
<br />Mr. Farr seconded the motion. Mr. Fisher read the following amend-
<br />ments into the record. Page 5, ARTICLE III, Section 3.02. (b) . . .
<br />
<br /> Principal Interest Principal Interest
<br />!'Year Amount Rate Year Amount Rate
<br />1989 $10,000 9.00% 1993 $40,000 6.15%
<br />1990 15,000 9.00% 1994 40,000 6.30%
<br />1991 25,000 6.75% 1995 40/000 6.45%"
<br />1992 30,000 6.00%
<br />
<br />and on Page 25, ARTICLE XII, Section 12.01. . . . "awarded to Rotan
<br />Mosle, Inc. at a price of par, plus accrued interest from the date
<br />of the Certificates to the Closing Date, and a premium of -0-." Mr.
<br />Brown moved to amend the Ordinance to incorporate Mr. Fisher's amend-
<br />ments as read into the record and Ms. Kissler seconded the motion,
<br />which passed unanimously. The Council then voted unanimously for
<br />adoption of the Ordinance on emergency.
<br />
<br />Mr. Farr then moved to reconsider Item 7.E., which begins on the last
<br />paragraph of Page 3 of these minutes, regarding adoption of an Ordin-
<br />ance on emergency authorizing the issuance and sale of City of San Marcos,
<br />Texas General Obligation Bonds, Series 1987, in the aggregate principal
<br />amount of $500,000, and Ms. Kissler seconded the motion, which passed
<br />unanimously. Mayor Younger then moved to amend the Ordinance on the
<br />first page of the Ordinance in the paragraph before ARTICLE I to change
<br />
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