09011966 Regular Meeting - Laserfiche WebLink

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I'~ L~ J PROPOSITION NO. 5 SHALL the City Council of the City of San Marcos. Texas. be authorized to issue $100,000 of bonds of said City for the purpose of constructing and equipping a public building to be used as a . civic center 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? PROPOSITION NO. 6 r. SHALL the City Council of the City of San Marcos, Texas. be authorized to issue $120.000 of bonds of said City for the purpose of constructing and equipping a public building to be used as a city hall 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? PROPOSITION NO. 7 SHALL the City Council of the City of San Marcos, Texas. be authorized to issue $200.000 of bonds of said City for the purpose of purchasing lands to be used for park purposes for 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? . Section 2. That in the event the revenue bonds hereinabove mentioned in Propositions Nos. 1 and 2 are authorized to be issued by a majority of the qualified electors of said City voting at said