04101957 Regular Meeting - Laserfiche WebLink

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object is accomplished by the schedule of maturities hereinabove set out, which maturities are hereby found to be necessitated by J the financial condition of said City. IV. That said bonds shall bear interest from date until paid at the rate of three and one-half (3-1/2%) per cent per annum, which interest shall be payable July 1, 1957, and semi-annually there- after on January 1st and July 1st in each year, and shall be evidenced by proper coupons attached to each of said bonds; that principal of and interest on said bonas shall be payable, without exchange or collection charges to the owner or holder, upon presentation and surrender of bonds or proper coupons at the FIRST NATIONAL BANK, SAN MARCOS, TEXAS. V. That the said bonds and interest coupons appurtenant thereto I shall be executed with the imprinted facsimile signatures of the Mayor and City Secretary, and the corporate seal of theCity of San Marcos, Texas, shall be impressed upon each of said bonds. Execution in such manner shall have the same effect as if such bonds and coupons had been signed by the Mayor and City Secretary in person by their manual signatures. Inasmuch as such bonds are required to be registered by the Comptroller of Public Accounts of the State of Texas, only his signature, or that of a deputy designated in writing to act for the Comptroller, shall be required to be manually subscribed to such bonds in connection with the Comptroller's Registration Certificate to appear thereon as hereinafter provided, all in accordance with the provisions of !I I Article 717j, Vernon's Civil statutes of Texas, 1925, as amended. VI. I That the form of said bonds shall be substantially as follows: