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<br />ORDINANCE NO.
<br />
<br />AN ORDINANCE OF THE CITY COUNCIL OF CITY OF SAN
<br />MARCOS, TEXAS, AUTHORIZING THE ISSUANCE AND SALE OF
<br />CITY OF SAN MARCOS, TEXAS, GENERAL OBLIGATION BONDS,
<br />SERIES 1987, IN THE AGGREGATE PRINCIPAL AMOUNT OF
<br />$500,000, PRESCRIBING THE FORM OF SAID BONDS; PROVIDING
<br />FOR THE SECURITY FOR AND PAYMENT OF SAID BONDS;
<br />AWARDING THE SALE THEREOF; APPROVING THE OFFICIAL
<br />STATEMENT; AND ENACTING OTHER PROVISIONS RELATING
<br />TO THE SUBJECT, AND DECLARING AN EMERGENCY.
<br />
<br />WHEREAS, the bonds hereinafter were duly and favorably voted, as required
<br />by the Constitution and laws of the State of Texas, at an election held in the City of
<br />San Marcos, Texas (the "City"), on April 7, 1984, and
<br />
<br />WHEREAS, at said election, the foHowing were among the purposes and the
<br />amounts of general obligation bonds authorized and the amounts previously issued
<br />for said purposes pursuant to the voted authorization, the amounts therefrom being
<br />issued pursuant to this Ordinance, and the respective balances that remain unissued
<br />for the indicated purposes after the issuance of bonds herein authorized, to-wit:
<br />
<br /> Amount Amount
<br /> Amount Previously Being Unissued
<br />Purpose and Election Date Authorized Issued Issued Balance
<br />April 7. 1984
<br />Streets and Drainage $4,000,000 $2,050,000 $150,000 $1,800,000
<br />Parks and Recreation 400,000 250,000 100,000 50,000
<br />Traffic Control Devices 250,000 150,000 100,000 -0-
<br />Public Works Complex 700,000 570,000 130,000 -0-
<br />
<br />WHEREAS, the City Council considers it in the best interest of the City at
<br />this time to authorize the issuance and delivery of the amount thus reflected, aH in
<br />a single issue, and aH in accordance with the laws of the State of Texas, including
<br />Articles 823, et seq., V.A.T.C.S.; therefore,
<br />
<br />BE IT ORmINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS,
<br />TEXAS:
<br />
<br />ARTICLE I
<br />DEFINITIONS AND OTHER PRELIMINARY MATTERS
<br />
<br />Section 1.01. Definitions.
<br />
<br />Unless otherwise expressly provided or unless the context clearly requires
<br />otherwise, in this Order the following terms shall have the meanings specified below:
<br />
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