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<br />" <br /> <br />the current interest on said bonds and create a sinking fund <br />sufficient to pay each installment of the principal as the same <br />becomes due; provided, however, that said tax shall never exceed <br />the statutory limitation; and for the year 1955, there is hereby <br />levied a sufficient tax on each $100.00 valuation of taxable <br />property inreid City, and the same shall be assessed and collected <br />and applied to the purpose named; and while said bonds, or any of <br />them, are outstanding and unpaid, a tax for each year ata rate <br />from year to year, as will be ample and sufficient to provide funds <br />to pay the current interest onreid bonds and to provide the necess- <br />ary sinking fund, full allowance being made for delinquencies and <br />cost of collection, shall be, and is hereby levied for each year, <br />respectively, while said bonds, or any of them, are outstanding <br />and unpaid, and said tax shall each year be assessed and collected <br />and applied to the payment of the interest on and principal of <br />said bonds. <br />Section 11. The bonds and a complete record relating thereto <br />shall be submitted to the Attorney General for his approval, and <br />after he shall have approved them, the bonds shall be deposited <br />with the Comptroller of Public Accounts for registration. That <br />the ComptrOller be and he is hereby authorized to deliver the <br />registered bonds to The American National Bank of Austin, Austin, <br />Texas. <br />Section 12. That the bid of The Ranson-Davidson Company, San <br />Antonio, Texas, on the bonds herein authorized, of par and accrued <br />interest to date of delivery, be, and the same is hereby accepted, <br />and the Mayor, City Secretary and City Treasurer are hereby <br />authorized, directed and instructed to do all things necessary to <br />deliver said bonds to The Ranson-Davidson Company at said price of <br />par and accrued interest to date of delivery. <br />Section 13. By reason of the fact that the City Council of <br />the City of San Marcos, Texas, considers the passage of this <br />ordinance and the issuance of said bonds necessary for the <br /> <br />II <br />