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<br />WHEREAS, the City Council now deems it advisable and to the
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<br />best interest of said City to payoff and cancel Warrants Numbers 1
<br />to 5, inclusive, aggregating $5,000, of the above described issue,
<br />and to cancel the remaining Warrants Numbers 6 to 200, inclusive,
<br />aggregating $195,000, of said above described issue, by the issuance
<br />of refunding bonds in lieu thereof; and
<br />
<br />WHEREAS, it is now in order that the City Council proceed with
<br />the issuance of said $195,000 Refunding Bonds;
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<br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS:
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<br />Section 1. That the bonds of said City, to be known as "CITY
<br />OF SAN MARCOS, TEXAS, GENERAL OBLIGATION REFUNDING BONDS, SERIES
<br />1968", be issued under and by virtue of the Constitution and laws
<br />of the State of Texas, including Chapter 163, Acts of the Forty-
<br />second Legislature, 1931, as amended, and the Charter of said City
<br />to the amount of One Hundred Ninety-five Thousand Dollars
<br />($195,000.00), for the purpose of canceling, refunding and in lieu
<br />of a like amount of valid and subsisting outstanding indebtedness of
<br />
<br />said City.
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<br />Section 2. That said bonds shall be numbered consecutively
<br />from 1 to 39, inclusive, shall be of the denomination of Five
<br />
<br /> Thousand Dollars ($5,000.00) each, aggregating One Hundred Ninety-
<br /> five Thousand Dollars ($195,000.00).
<br /> Section 3. That said bonds shall be dated January 1, 1968,
<br /> and shall become due and payable as follows:
<br /> BOND NUMBERS MATURITY DATES AMOUNTS
<br /> (Inclusive)
<br /> 1 March 1, 1969 $ 5,000
<br /> 2 March 1, 1970 5,000
<br />I 3 - 4 March 1, 1971 10,000
<br />5 - 6 March 1, 1972 10,000
<br /> 7 - 9 March 1, 1973 15,000
<br /> 10 - 12 March 1, 1974 15,000
<br /> 13 - 18 March 1, 1975 30,000
<br /> 19 - 25 March 1, 1976 35,000
<br /> 26 - 32 March 1, 1977 35,000
<br /> 33 - 39 March 1, 1978 35,000
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