03111968 Regular Meeting - Laserfiche WebLink

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-.... I year to year, as will be ample and sufficient to provide funds to pay the current interest on said bonds and to provide the necessary sinking fund to pay the principal, full allowance being made for delinquencies and costs of collection, or to provide at least two per cent (2%) of the principal as a sinking fund, whichever amount is greater, shall be, and is hereby levied for each year, respective- ly, while said bonds, or any of them, are outstanding and unpaid, and said tax shall each year be assessed and collected and applied to the payment of the interest on and principal of said bonds. Section 10. That the bonds and a complete record relating thereto shall be submitted to the Attorney General of the state of Texas for his approval; and after he shall have approved same, the bonds shall be deposited with the Comptroller of Public Accounts for registration. The state Comptroller is hereby authorized and in- structed to deliver the registered bonds to The American National I Bank of Austin, Austin, Texas. Section 11. That the sale of the bonds herein authorized to First Southwest Company at a price of par and accrued interest to date of delivery is hereby confirmed. Section 12. By reason of the fact that the City Council of the City of San Marcos considers the passage of this ordinance necessary for the preservation of the public peace, health or safety of the citizens of said City, it is hereby declared to be an emergency measure demanding that the rule requiring ordinances to be read at more than one meeting of the City Council be suspended, and that this ordinance take effect immediately from and after its passage at this meeting, and it is so ordained. I PASSED AND APPROVED at a meeting open to the public, this the 11th day of March, 1968. r::>> '....(?fl lj/!}Ot a~~ ~~~ /' L? . /./ ~_//~,/ ~. . MAYOR, CITY OF'~N MARCOS, TEXAS APPROCW~tA 1 b~ C T ATTO Y 4.