|
WHEREAS, all the Refunded Obligations mature or are subject to redemption prior to
<br />maturity within 20 years of the date of the bonds hereinafter authorized: and
<br />WHEREAS, the Bonds authorized by this Ordinance are being issued and delivered
<br />pursuant to the City Charter and Chapters 1207 and 1371 of the Texas Government Code, as
<br />amended, and other applicable laws: and
<br />WHEREAS, it is hereby officially found and determined that the meeting at which this
<br />Ordinance was passed was open to the public, and public notice of the time, place and purpose of
<br />the meeting was given, all as required by Chapter 551, Texas Government Code.
<br />NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF SAN
<br />MARCOS, TEXAS:
<br />Section 1. RECITALS. The recitals set forth in the preamble hereof are
<br />incorporated herein and shall have the same force and effect as if set forth in this Section.
<br />Section 2. DEFINITIONS. For all purposes of this Ordinance, except as otherwise
<br />expressly provided or unless the context otherwise requires, the terms defined in Exhibit "A" to
<br />this Ordinance have the meanings assigned to them in Exhibit "A".
<br />Section 3. AMOUNT, NAME, PURPOSE, AND AUTHORIZATION. The
<br />Bonds, each to be designated the "CITY OF SAN MARCOS, TEXAS GENERAL
<br />OBLIGATION REFUNDING BONDS," in one or more Series are hereby authorized to be
<br />issued and delivered in accordance with the Constitution and laws of the State of Texas,
<br />particularly Chapters 1207 and 1371, Texas Government Code, as amended, and the Charter of
<br />the City. The Bonds shall be issued in the aggregate principal amount not to exceed
<br />$120,000,000 for the purpose of providing funds for (i) refunding the Refunded Obligations and
<br />(ii) paying the costs of issuing the Bonds.
<br />Section 4. DATE, DENOMINATION, MATURITIES, NUMBERS, INTEREST
<br />AND REDEMPTION. (a) Initially there shall be issued, sold, and delivered hereunder one or
<br />more Series of fully registered bonds, without interest coupons, which may be in the form of
<br />Current Interest Bonds or Premium Compound Interest Bonds, numbered consecutively from R-
<br />1 upward, in the case of Current Interest Bonds, and from PC -1 upward, in the case of Premium
<br />Compound Interest Bonds (except the Initial Bond delivered to the Attorney General of the State
<br />of Texas which shall be numbered T-1 and TPC -1 respectively) payable to the respective initial
<br />Registered Owners thereof, or to the registered assignee or assignees of said Bonds or any
<br />portion or portions thereof, in Authorized Denominations, maturing not later than August 15,
<br />2036, serially or otherwise on the dates, in the years and in the principal amounts, respectively,
<br />and dated, as all set forth in the Pricing Certificate to be executed and delivered by the Pricing
<br />Officer pursuant to subsection (b) of this section. Each Pricing Certificate is hereby incorporated
<br />2
<br />
|