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<br />Section 6.03. CUSIP Registration. <br /> <br />The City may secure identification numbers through the CUSIP Service <br />Bureau Division of Standard & Poor's Corporation, New York, New York, and may <br />authorize the printing of such numbers on the face of the Bonds. It is expressly <br />provided, however, that the presence or absence of CUSIP numbers on the Bonds <br />shall be of no significance or effect as regards the legality thereof and neither the <br />City nor the attorneys approving said Bonds as to legality are to be held responsible <br />for CUSIP numbers incorrectly printed on the Bonds. <br /> <br />Section 6.04. Legal Opinion. <br /> <br />The approving legal opinion of Hutchison Price Boyle & Brooks, Bond Counsel, <br />may be printed on the back of each Bond over the certification of the City <br />Secretary of the City, which may be executed in facsimile. <br /> <br />ARTICLE VII <br />CREATION OF FUNDS AND ACCOUNTS, INITIAL DEPOSITS <br />AND APPLICATION OF MONEY <br /> <br />Section 7.01. Creation of Funds. <br /> <br />(a) The City hereby establishes the following funds: (1) the City of San <br />Marcos, Texas, General Obligation Bonds, Series 1987, Interest and Sinking Fund; and <br /> <br />(ii) the City of San Marcos. Texas, General Obligation Bonds, <br />Series 1987, Construction Fund. <br /> <br />(b) The Interest and Sinking Fund and the Construction Fund shall be <br />maintained at an official depository of the City. <br /> <br />Section 7.02. Initial Deposits. <br /> <br />On the Closing Date. the City shall cause the proceeds from the sale of the <br />Bonds to be deposited as follows: <br /> <br />(i) first. all accrued interest on the Bonds from the Original <br />Issue Date until the Closing Date and premium, if any. shall be deposited to <br />the credit of the Interest and Sinking Fund; <br /> <br />(ii) second, the remaining balance shall be deposited to the credit <br />of the Construction Fund; <br /> <br />Section 7.03. Interest and Sinking Fund. <br /> <br />(a) The taxes levied under Section 2.01 of this Ordinance shall be <br />deposited to the credit of the Interest and Sinking Fund at such times and in such <br />amounts as necessary for the timely payment of the principal of and interest on the <br />Bonds. <br /> <br />0406s <br /> <br />-18- <br />