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Ord 2009-035
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Ord 2009-035
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Last modified
8/6/2009 8:19:32 AM
Creation date
6/22/2009 11:08:14 AM
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City Clerk
City Clerk - Document
Ordinances
City Clerk - Type
Certificates of Obligation
Number
2009-35
Date
6/16/2009
Volume Book
182
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formal defect or omission herein. In addition, the City, with the written consent of Owners holding <br />a majority in aggregate principal amount ofthe Bonds then outstanding affected thereby, may amend, <br />add to, or rescind any of the provisions of this Ordinance; provided that, without the consent of all <br />Owners of then outstanding Bonds, no such amendment, addition, or recission shall (i) extend the <br />time or times of payment of the principal of and interest on the Bonds, reduce the principal amount <br />thereof, redemption price therefor, or the rate of interest thereon, or in any other way modify the <br />terms of payment of the principal of or interest on the Bonds, (ii) give any preference to any Bond <br />over any other Bond, or (iii) reduce the aggregate principal amount of Bonds required for consent <br />to any such amendment, addition, or recission. <br />Section 14.02. Further Procedures. <br />The officers and employees of the City are hereby authorized and directed from time to time <br />and at any time to do and perform all such acts and things and to execute, acknowledge and deliver <br />in the name and on behalf of and under the corporate seal of the City all such instruments, whether <br />mentioned herein or not, as may be necessary or desirable in order to carry out the terms and <br />provisions of this Ordinance, the initial sale and delivery of the Bonds, the Paying Agent/Registrar <br />Agreement, and the Official Statement. In addition, prior to the initial delivery of the Bonds, the <br />Mayor, the City Manager or Director of Finance of the City, and Bond Counsel are hereby authorized <br />and directed to approve any technical changes or corrections to this Ordinance or to any of the <br />instruments authorized and approved by this Ordinance necessary in order to (i) correct any ambiguity <br />or mistake or properly or more completely document the transactions contemplated and approved <br />by this Ordinance and as described in the Official Statement, (ii) obtain a rating from any of the <br />national bond rating agencies, or (iii) obtain the approval of the Bonds by the Attorney General of <br />Texas. In the event that any officer of the City whose signature shall appear on any certificate shall <br />cease to be such officer before the delivery of such certificate, such signature nevertheless shall be <br />valid and sufficient for all purposes the same as if such officer had remained in office until such <br />delivery. <br />Section 14.03. Payment of Attorney General Fee. <br />The City hereby authorizes the disbursement of a fee equal to the lesser of (i) one-tenth of one <br />percent of the principal amount of the Bonds or (ii) $9,500, provided that such fee shall not be less <br />than $750, to the Attorney General of Texas Public Finance Division for payment of the examination <br />fee charged by the State of Texas for the Attorney General's review and approval of public securities <br />and credit agreements, as required by Section 1202.004 of the Texas Government Code. The <br />appropriate member of the City's staff is hereby instructed to take the necessary measures to make <br />this payment. The City is also authorized to reimburse the appropriate City funds for such payment <br />from proceeds of the Bonds. <br />Section 14.04. Severabilitv. <br />If any section, article, paragraph, sentence, clause, phrase or word in this Ordinance, or <br />application thereof to any person or circumstance is held to be invalid or unenforceable , the <br />remainder of this Ordinance and the application of such section, article, paragraph, sentence, clause, <br />San Marcos GO 2009 Ordinance 35
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