05281956 Special Meeting - Laserfiche WebLink

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I interest thereon from date hereof at the rate of (____%) per cent per annum, interest payable June 1, 1957, and semi-annually thereafter on December 1st and June 1st in each year, principal and interest payable upon presentation and sur- render of bond or proper coupon at The Mercantile National Bank at Dallas, Dallas, Texas, without exchange or collection charges to the owner or holder hereof, and the City of San Marcos, Texas, is hereby held and firmly bound, and its faith and credit and all real and personal property in said City,are hereby pledged for the prompt payment of the principal of this bond and the interest thereon at maturity. This bond is one of a series of 350 bonds, numbered conse- cutively from I to 350, inclusive, of the denomination of One Thousand ($1,.000.00) Dollars each, aggregating Three Hundred Fifty Thousand ($350,000.00) Dollars, issued by the City of San Marcos, Texas, for the purpose of paying the cost of con- structing street improvements, including the purchase of right- of-way, and all necessary expenses in connection therewith, for U. S. Highway No. 81, within said City, under and by virtue of the Constitution and Laws of the State of Texas, and in pursuance of an ordinance passed by the City Council of the City of San Marcos, Texas, which ordinance is of record in the Minutes of said City Council. The City of San Marcos, Texas, reserves the right to redeem this bond on June 1, 1976, or on any interest payment date there- after, by paying principal and accrued interest thereon, and in the event same is called in for redemption before maturity, ndtice thereof in writing shall be given by the City Secretary of said City of San Marcos to The Mercantile National Bank at Dallas, Dallas, Texas, at least thirty (30) days prior to the date fixed for redemption; and said City Secretary shall also cause a copy of such notice to be published one time in some financial journal published in the State of Texas at least thirty (30) days prior to the date fixed for redemption; and if this bond is not present- ed for payment on the date fixed for its redemption, it shall I I