Laserfiche WebLink
<br />I <br /> <br />Bonds so called. Notice of the intended redemption of any such <br /> <br /> <br />Bonds shall be published in a financial journal printed in the <br /> <br /> <br />English language in the City of New York, New York, at least once, <br /> <br />not less than thirty (30) days before the date fixed for such pay. <br /> <br /> <br />ment, and thirty (30) days' notice in writing shall be given to <br /> <br /> <br />the Places of Payment before the date fixed for such redemption. <br /> <br />Prior to the date fixed for redemption, funds shall be deposited <br /> <br />in the Places of Payment sufficient to pay' the Bonds called and <br /> <br /> <br />accrued,interest thereon, plus any premium required. Upon the <br /> <br />happening of the above conditions, any Bonds thus called shall not <br /> <br />thereafter bear interest. <br /> <br />This Bond and all Bonds of the Series of which it is one con- <br /> <br />stitute sp~cia1 obligations of the City of San Marcos, each payable <br /> <br />as to both principal and interest and secured by a lien on and <br /> <br />pledge of the net revenues derived from the operation and/or <br /> <br /> <br />II ownership of the combined water and sewer system subject only to <br /> <br /> <br />the existing first lien thereon to secure the City's outstanding <br /> <br />Waterworks and Sewer Improvement and Extension Revenue Bonds, <br /> <br />Series 1951 and Series 1951-A, dated January 1, 1951. <br /> <br />The City, however, expressly reserves the right to issue <br /> <br />Additional Bonds in all things on a parity with the Bonds of this <br /> <br /> <br />Series and payable from and secured by a lien on and pledge of the <br /> <br /> <br />revenues of the City's combined waterworks and sewer system; <br /> <br />I <br /> <br />provided, however. that any and all such furth~r bonds may be so <br />issued only in accordance with and subject to the covenants, limita- <br />tions. conditions and restrictions relating thereto which are set <br />forth and contained in the Ordinance authorizing this Series and <br />to which said Ordinance reference is hereby made for more complete <br />and full particulars. <br />The holder hereof shall never have the right to demand payment <br />of this obligation out of any funds raised or to be raised by taxa. <br />tion. <br /> <br />Each holder of this Bond. payable to bearer. or of the interest <br /> <br /> <br />coupons hereto attached. is conclusively presumed to forego and <br /> <br />- 9 - <br />