Ord 1975-038 - Laserfiche WebLink

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97-e I thereon at maturity. This is one of a series of 39 Bonds, numbered consecutively from 1 to 39, inclusive, of the denomination of Five Thousand Dollars ($5,000) each, aggregating One Hundred Ninety-five Thousand Dollars ($195,000), for the purpose of refunding, can- celling and in lieu of valid and subsisting general obligations of the City of San Marcos, Texas, and this Bond is issued under and in strict conformity with the Constitution and laws of the State of Texas, and in pursuance of an ordinance duly passed by the city Cauncil of the City of San Marcos, Texas, and duly recorded in the Minutes of said City Cauncil. The date of this Bond, in conformity with the ordinance above mentioned, is August 15, 1975. IT IS HEREBY CERTIFIED, RECITED AND REPRESENTED that the issuance of this Bond, and the series of which it is a part, is duly authorized by law; that all acts, conditions and things re- quired to be done precedent to and in the issuance of this Bond, and the series of which it is a part, have been properly done and performed and have happened in regular and due time, form and manner as required by law; that due provision has been made for levying and collecting annually by taxation an amount suf- ficient to pay the interest on this Bond, and the series of Which it is a part, as it falls due and to provide a sinking fund for the final redemption thereof at maturity; and that the total indebtedness of said City, inclUding the entire series of Bonds, of which this is one, does not exceed any constitutional or statutory limitation. IN ADDITION to all other rights, the holder or holders of this Bond, and of the series of which it is a part, is and are subrogated to all the rights and has and have all of the reme- dies of the holders of the original indebtedness refunded by this issue of Bonds. I I - 5 -