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Ord 2025-013 authorizing the issuance and sale of an approximate amount of $30,450,000.00 of Waterworks and Wastewater System Revenue Bonds, Series 2025, pledging the revenues of the water and wastewater system in support of the bonds
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Ord 2025-013 authorizing the issuance and sale of an approximate amount of $30,450,000.00 of Waterworks and Wastewater System Revenue Bonds, Series 2025, pledging the revenues of the water and wastewater system in support of the bonds
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4/30/2025 4:37:05 PM
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4/30/2025 4:36:24 PM
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City Clerk
City Clerk - Document
Ordinances
City Clerk - Type
Approving
Number
2025-013
Date
4/15/2025
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ARTICLE IV PAYMENTS, REBATE ACCOUNT AND RESERVE ACCOUNT...15 <br /> Section4.01. PAYMENTS..............................................................................................15 <br /> Section 4.02. REBATE ACCOUNT ..............................................................................15 <br /> Section 4.03 RESERVE ACCOUNT .............................................................................15 <br /> ARTICLE V COVENANTS REGARDING TAX EXEMPTION .............................18 <br /> Section 5.01. COVENANTS REGARDING TAX EXEMPTION .................................18 <br /> Section 5,02. ALLOCATION OF, AND LIMITATION ON, EXPENDITURES FOR <br /> PROJECT...................................................................................................20 <br /> Section 5.03. DISPOSITION OF PROJECT...................................................................20 <br /> ARTICLE VI AMENDMENTS AND MODIFICATIONS..........................................21 <br /> Section 6.01. AMENDMENTS OR MODIFICATIONS WITHOUT CONSENT OF <br /> OWNERSOF BONDS..............................................................................21 <br /> Section 6.02. AMENDMENTS OR MODIFICATIONS WITH CONSENT OF <br /> OWNERSOF BONDS..............................................................................22 <br /> Section 6.03. EFFECT OF AMENDMENTS..................................................................23 <br /> ARTICLE VII MISCELLANEOUS ................................................................................23 <br /> Section 7.01. DISPOSITION OF BOND PROCEEDS AND OTHER FUNDS.............23 <br /> Section 7.02. MAILED NOTICES..................................................................................24 <br /> Section 7.03. DEFEASANCE OF BONDS.....................................................................24 <br /> Section 7.04. PAYING AGENT/REGISTRAR AGREEMENT, SALE OF BOND <br /> AND OFFICIAL STATEMENT...............................................................26 <br /> Section 7.05. FURTHER PROCEDURES....................................................................26 <br /> Section 7.06. NONPRESENTMENT OF BONDS..........................................................26 <br /> Section 7.07. EFFECT OF SATURDAYS, SUNDAYS, AND LEGAL HOLIDAYS...27 <br /> Section 7.08. PARTIAL INVALIDITY..........................................................................27 <br /> Section 7.09. CONTINUING DISCLOSURE UNDERTAKING...................................27 <br /> Section 7.10. CREDIT AGREEMENT ...........................................................................30 <br /> Section 7.11. DEFAULT AND REMEDIES...................................................................30 <br /> Section 7.12. RULES OF INTERPRETATION..............................................................31 <br /> Section 7.13. INDIVIDUALS NOT LIABLE.................................................................31 <br /> Section 7.14. PAYMENT OF ATTORNEY GENERAL FEE........................................32 <br /> EXHIBIT A - Definitions <br /> EXHIBIT B - Form of Bonds <br /> EXHIBIT C - Description of Annual Financial Information <br /> ii <br /> San Marcos I WWSRB 2025 11 11 Supplemental Ordinance <br />
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