09011966 Regular Meeting - Laserfiche WebLink

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. . . I.:lV PROPOSITION NO.2 SHALL the City Council of the City of San Marcos, Texas, be authorized to issue $977.000 of revenue bonds of said City for the purpose of constructing extensions and improvements to the City's sewer system, said bonds to mature serially over a period of years not to exceed forty (40) years from their date and to bear interest at a rate not to exceed five and one-half (5-1/2%) per cent per annum, said revenue bonds to be special obligations of the City of San Marcos, payable as to both principal and interest from and secured by a lien on and pledge of the net revenues from the opera- tion of the City's combined waterworks and sewer system? PROPOSITION NO.3 SHALL the City Council of the City of San Marcos, Texas, be authorized to issue $740,000 of bonds of said City for the purpose of constructing street improvements in said City, including the purchase and installation of a synchronized traffic signal light system and necessary curb and sidewalk installation. said bonds to mature serially over a period of years not to exceed forty (40) years from their date and to bear interest at a rate not to exceed five and one-half (5-1/2%) per cent per annum, and to levy a tax sufficient to pay the interest on said bonds and create a sinking fund sufficient to redeem them at maturity? PROPOSITION NO.4 SHALL the City Council of the City of San Marcos. Texas, be authorized to issue $165.000 of bonds of said City for the purpose of constructing and equipping a publiC building to be used as a fire station in said City, said bonds to mature serially over a period of years not to exceed forty (40) years from their date and to bear interest at a rate not to exceed five and one-half (5-1/2%) per cent per annum. and to levy a tax sufficient to pay the interest on said bondS and create a Sinking fund sufficient to redeem them at maturity?