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provisions of Chapter 9, Business and Commerce Code and enable a filing to perfect the security <br />interest in said pledge to occur. <br />ARTICLE III <br />AUTHORIZATION; GENERAL TERMS AND PROVISIONS <br />REGARDING THE BONDS <br />Section 3.01. Authorization. <br />The City's bonds to be designated "City of San Marcos, Texas, Waterworks and Waste <br />Water System Revenue Bonds, Series 2017B," are hereby authorized to be issued and delivered <br />in accordance with the laws of the State of Texas in the aggregate principal amount of <br />$1,000,000 for the purpose of (i) acquiring, constructing and installing additions, improvements <br />and extensions to the City's waterworks and waste water system and (ii) paying costs of issuance <br />for the Bonds. <br />Section 3.02. Date Denomination Maturities Numbers and Interest. <br />(a) The Bonds shall have the Original Issue Date of , 2017, shall be in <br />fully registered form, without coupons, in the denomination of $5,000 or any integral multiple <br />thereof, and shall be numbered separately from one upward or such other designation acceptable <br />to the City and the Paying Agent/Registrar. <br />(b) The Bonds shall mature on in the years and in the principal amounts <br />and interest rates set forth below, interest on each Bond accruing from the Original Issue Date or <br />the most recent Interest Payment Date to which interest has been paid or provided for at the per <br />annum rates of interest, payable semiannually on and of each year until <br />the principal amount shall have been paid or provision for such payment shall have been made, <br />commencing , 20_, as follows: <br />Principal Interest <br />Year Amount Rate <br />SANMARCOS/WWWSRev2017& Ordinance <br />