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<br />of general circulation published in said City for the time and in <br /> <br />the manner required by law; and, <br /> <br />1,_ <br /> <br />WHEREAS, the City Council affirmatively finds that no <br /> <br />petition was presented to the City Council to submit to areferen- <br />dum vote the question as to the issuance of refunding bonds for <br /> <br />such purpose; and, <br /> <br />WHEREAS, it is now in order that the City Council proceed <br />with the issuance of said refunding bonds; <br /> <br />THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY <br />OF SAN MARCOS. TEXAS: <br /> <br />I. <br /> <br />That under and by virtue of the Constitution and Laws of <br /> <br />the State of Texas, including Chapter l63, Acts of the 42nd Texas <br /> <br />II <br /> <br />Legislature, Regular Session, 1931, as amended, bonds of said <br /> <br />City, to be known as CITY OF SAN MARCOS STREET IMPROVEMENT REFUND- <br />ING BONDS, SERIES OF 1956, be issued in the principal amount of <br />Forty Thousand ($40,000.00) Dollars, for the purpose of refunding, <br /> <br />canceling and in lieu of a like amount of outstanding warrants <br /> <br />of said City. <br /> <br />II. <br /> <br />That said bonds shall be numbered consecutively from 1 to <br />40, inclusive, and shall be in the denomination of One Thousand <br /> <br />($1,000.00) Dollars each; shall be dated February l5, 1956, and <br /> <br />shall become due and payable as follows: <br /> <br /> BOND NUMBERS MATURITY DATES AMOUNTS <br /> (Inclusive) <br />I 1 - 10 April 15, 1972 $10,000 <br />11 - 20 April 15, 1973 10,000 <br /> 21 - 30 April 15, 1974 10,000 <br /> 31 - 40 April 15, 1975 10,000 <br /> III. <br /> <br />The City Council hereby finds and determines that the <br /> <br />financial condition of the City of San Marcos will not permit <br />