Ord 2022-053/authorizing the issuance and sale of an amount not to exceed $1,200,000.00 of Combination Tax and Surplus Revenue Certificates of Obligation, Series 2022A, for (1) planning, acquisition, design and

Home Browse Search

principal amount shall bear interest from such next following interest payment date; provided, however, that if on the date of authentication hereof the interest on the Certificate or Certificates, if any, for which this Certificate is being exchanged is due but has not been paid, then this Certificate shall bear interest from the date to which such interest has been paid in full." C. the Initial Certificate shall be numbered T-1. (ii) The following Registration Certificate of Comptroller of Public Accounts shall appear on the Initial Certificate in lieu of the Authentication Certificate of the Paying Agent/Registrar: REGISTRATION CERTIFICATE OF COMPTROLLER OF PUBLIC ACCOUNTS OFFICE OF THE COMPTROLLER ' OF PUBLIC ACCOUNTS REGISTER NO. THE STATE OF TEXAS ' I HEREBY CERTIFY THAT there is on file and of record in my office a certificate to the effect that the Attorney General of the State of Texas has approved this Certificate, and that this Certificate has been registered this day by me. WITNESS MY SIGNATURE AND SEAL OF OFFICE this (SEAL) Comptroller of Public Accounts of the State of Texas Section 7. DEFINITIONS. That the terms "Certificates" and "Certificates of Obligation shall mean the City of San Marcos, Texas Combination Tax and Surplus Revenue Certificates of Obligation, Series 2022A, authorized to be issued and delivered by this Ordinance; the term "Surplus Revenues" shall mean those revenues from the operation of the System remaining after payment of all operation and maintenance expenses thereof and other obligations heretofore or hereafter incurred to which such revenues have been encumbered by a lien on and pledge of such revenues superior to the lien on and pledge of such revenues to the Certificates;the term "System" shall mean the City's combined water and wastewater system; the term "TWDB" shall mean the Texas Water Development Board,or any successor agency thereto;the term "Initial Certificate" means the Certificate described in Sections 5(h), 6(d) and 15 of this Ordinance. Section 8. INTEREST AND SINKING FUND; TAX LEVY. (a) That a special fund or account, to be designated the "City of San Marcos, Texas Series 2022A Certificates of Obligation Interest and Sinking Fund" (the "Interest and Sinking Fund")is hereby created and shall be established and maintained by the Issuer. The Interest and Sinking Fund shall be kept separate and apart from all other funds and accounts of the Issuer, and shall be used only for paying the interest on and principal of the Certificates. All ad valorem taxes levied and collected for and on account of the Certificates shall be deposited, as collected,to the credit of the Interest and Sinking Fund. During each year while any of the Certificates are outstanding and unpaid, the governing 13 SAN MARCOS(TWDB)CTRCO 2022:Ordinance