10131954 Regular Meeting - Laserfiche WebLink

Home Browse Search

........ for redemption; and said City Secretary shall also cause a copy of such notice to be published in some financial journal published in the State of Texas, one time at least thirty (30) days prior to I the date fixed for redemption. Any of said bonds not presented for redemption shall cease to bear interest from and after the date so fixed for redemption. Section 4. That said bonds shall bear interest from date until paid as follows: Bonds Nos. 1 to 36, inclusive, at the rate of two (2%) per cent per annum, Bonds Nos. 37 to 85, inclu- sive, at the rate of two and one-half (2-1/2%) per cent per annum, and Bonds Nos. 86 to 100, inclusive, at the rate of two and three-fourths (2-3/4%) per cent per annum, which interest shall be evidenced by proper coupons attached to each of said bonds, and shall be payable November 1, 1955, and semi-annually thereafter on May 1st and November 1st in each year. !. I I Section 5. That principal of and interest on said bonds shall be payable in lawful money of the United States of America upon presentation and surrender of bonds or proper coupons at The American National Bank of Austin, Austin, Texas. Section 6. That each of said bondS shall be signed by the Mayor and countersigned by the City Secretary, and the .corporate seal of the City of San Marcos, Texas, shallbe impressed upon each of them. That the coupons attached to said bonds. may be executed by the facsimile signatures of the Mayor and the City Secretary and shall have the same effect as if they had been signed by said officers. Section 7. That the form of said bonds shall be substan- tially as follows: NO. UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF HAYS CITY OF SAN MARCOS PARK BOND $1,000 KNOW ALL MEN BY THESE PRESENTS: That the City of San Marcos, in the County of Hays, State of Texas, a municipal corporation duly incorporated under the laws of the State of Texas, FOR VALUE