Ord 1975-038 - Laserfiche WebLink

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97-b I WHEREAS, the urgent necessity for the refunding of the se- curities as stated herein and for the constructing and equipping of a city hall building for said City requires that this Ordinance I be passed as an emergency measure for the immediate preservation of the pUblic peace, property, health, welfare and safety of said City and its inhabitants; therefore, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS: Section 1. That the bonds of the City of San Marcos, Texas, to be known as "CITY OF SAN MARCOS, TEXAS, GENERAL OBLIGATION REFUNDING BONDS, SERIES 1975", be issued under and in strict conformity with the Constitution and laws of the State of Texas, in the principal sum of One Hundred Ninety-five Thousand Dollars ($195,000), for the purpose of cancelling, refunding and in lieu of valid and subsisting certificates of obligation of the City of San Marcos, Texas, hereinabove described. I ~~~tion 2. That said bonds shall be numbered consecutively from 1 to 39, inclusive, and shall be of the denomination of Five Thousand Dollars ($5,000) each, aggregating One Hundred Ninety-five Thousand Dollars ($195,000). That said bonds shall be dated August 15, 1975, and shall bear interest from date until the principal sum shall be paid as follows: YEARS BONDS MATURING (Inclusive) INTEREST RATE ( Per Annum) 1979-1984 1985 1986 1987 1988 6.60% 5.80% 5.90% 6.00% 6.20% I which interest shall be evidenced by proper coupons attached to each of said bonds and shall be payable August 15, 1976, and - 2 - ~-~. ._- -.-