Ord 2016-018/authorizing the issuance and sale of $38,000,000 City of San Marcos, Texas, Combination Tax And Revenue Certificates of Obligation, Series 2016

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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 filing to perfect the security interest in said pledge to occur. 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 of Obligation, Series 2016," 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 $35,005,000 for the purpose of paying contractual obligations incurred or to be incurred for: (1) constructing, improving, extending, expanding, upgrading and developing City streets, bridges, sidewalks, parking, related traffic improvements and transportation facilities including purchasing any necessary rights -of -way and equipment; (2) constructing, improving and extending the City's electric utility system; (3) acquiring, constructing, designing, equipping and renovating city park facilities and buildings; (4) constructing and improving the City's drainage facilities; (5) constructing, improving and extending the City's water and waste water system; (6) constructing and improving the City's airport; (7) acquiring, constructing, designing, equipping and renovating public safety improvements, including relocation of fire stations; and (8) the payment of professional services in connection therewith including legal, fiscal and engineering fees and the costs of issuing the certificates of obligation. Section 3.02. Date, Denomination, Maturities, Numbers and Interest. (a) The Certificates shall have the Dated Date of May 15, 2016, shall be in fully registered form, without coupons, in the denomination of $5,000 or any integral multiple thereof, and shall be numbered separately from one upward or such other designation acceptable to the City and the Paying Agent/Registrar. (b) The Certificates shall mature on August 15 in the years and in the principal amounts and interest rates set forth below, interest on each Certificate accruing from the Closing Date or the most recent Interest Payment Date to which interest has been paid or provided for at the per annum rates of interest, payable semiannually on February 15 and August 15 of each year until the principal amount shall have been paid or provision for such payment shall have been made, commencing February 15, 2017, as follows: San Marcos CTRCO 2016: Ordinance