My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
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
San-Marcos
>
City Clerk
>
02 Ordinances
>
2010's
>
2016
>
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
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
5/26/2016 3:42:37 PM
Creation date
5/25/2016 3:08:53 PM
Metadata
Fields
Template:
City Clerk
City Clerk - Document
Ordinances
City Clerk - Type
Certificates of Obligation
Number
2016-18
Date
5/17/2016
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
46
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
(i) the City of San Marcos, Texas, Combination Tax and Revenue Certificates <br />of Obligation, Series 2016, Interest and Sinking Fund (the "Interest and Sinking Fund "); and <br />(ii) the City of San Marcos, Texas, Combination Tax and Revenue Certificates <br />of Obligation, Series 2016, Construction Fund (the "Construction Fund "). <br />(b) The Interest and Sinking Fund and the Construction Fund shall be maintained at an <br />official depository of the City. <br />Section 8.02. Interest and Sinking Fund. <br />(a) The taxes levied and revenues pledged under Article II shall be deposited to the credit <br />of the Interest and Sinking Fund at such times and in such amounts as necessary for the timely <br />payment of the principal of and interest on the Certificates. <br />(b) The proceeds ofthe Certificates representing accrued interest on the Certificates shall <br />be deposited to the credit of the Interest and Sinking Fund for the payment of interest on the <br />Certificates. <br />(c) Money on deposit in the Interest and Sinking Fund shall be used to pay the principal <br />of and interest on the Certificates as such become due and payable. <br />Section 8.03. Construction Fund. <br />(a) Money on deposit in the Construction Fund, including investment earnings thereof, <br />shall be used for the purposes specified in Section 3.01 of this Ordinance. <br />(b) All amounts remaining in the Construction Fund after the accomplishment of the <br />purposes for which the Certificates are hereby issued, including investment earnings of the <br />Construction Fund, shall be deposited into the Interest and Sinking Fund, unless a change in <br />applicable law, as evidenced by an opinion of bond counsel, permits or authorizes all or any part of <br />such funds to be used for other purposes. <br />Section 8.04. Security of Funds. <br />All moneys on deposit in the funds referred to in this Ordinance shall be secured in the <br />manner and to the fullest extent required by the laws of the State of Texas for the security of public <br />funds, and moneys on deposit in such funds shall be used only for the purposes permitted by this <br />Ordinance. <br />Section 8.05. Deposit of Proceeds. <br />San Marcos CTRCO 2016: Ordinance 28 <br />
The URL can be used to link to this page
Your browser does not support the video tag.