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59-a I AN ORDINANCE BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, AUTHORIZING THE ISSUANCE OF CITY OF SAN MARCOS, TEXAS, GENERAL OBLIGATION BONDS, SERIES 1974, IN THE PRINCIPAL AMOUNT OF $310,000 FOR THE PURPOSE OF CANCELLING, REFUND- ING AND IN LIEU OF VALID AND SUBSISTING CERTIFICATES OF OBLIGATIONS OF SAID CITY; AND FOR THE FURTHER PURPOSE OF CONSTRUCTING AND EQUIPPING A PUBLIC BUILDING TO BE USED AS A CIVIC CENTER IN SAID CITY AND FOR THE FURTHER PUR- POSE OF CONSTRUCTING AND EQUIPPING A PUBLIC BUILDING TO BE USED AS A CITY HALL IN SAID CITY; PRESCRIBING THE FORM OF THE BONDS AND THE FORM OF THE INTEREST COUPONS; PROVIDING FOR THE LEVY, ASSESSMENT AND COLLECTION OF AN ANNUAL TAX ON EACH $100 VALUATION OF ALL TAXABLE PROP- ERTY SITUATED WITHIN THE CITY TO PAY THE PRINCIPAL OF AND INTEREST ON SAID BONDS AT MATURITY; ENACTING PROVI- SIONS INCIDENT AND RELATING TO THE SUBJECT AND PURPOSE OF THIS ORDINANCE; AND DECLARING AN EMERGENCY. I WHEREAS, each and all of the members of the City Council of said City was duly and sufficiently notified, officially and personally, in advance, of the time, place and purpose of this meeting; and WHEREAS, proper notice of this meeting has been duly and timely posted as provided by law; and WHEREAS, the City of San Marcos, Texas, has outstanding the followingdescrlbed legally issued certificates of obligations; "CITY OF~IAN MARCOS CERTIFICATES OF OBLIGATION. SERIES A OF 1972n,~),Ullber -3- of the denomination of $5,000, aggregating $5.000 bearing 6% interest per annum; ma- turing on March 1, 1975; with all certificates being subject to prior redemption at any time after their date by payingptincipal and accrued interest thereon; and "CITY OF SAN MARCOS CERTIFICATES OF OBLIGATION, SERIES B OF 1972" numbered lito 17, inclusive, of the denomina- tion of $5,000 each, aggregating $85,000 bearing interest at the rate of 6% per annum; maturing on March 1, $5,000 in 1976 to 1992, inclusive; with all certificates being subject to prior redemption at any time after their date by paying principal and accrued interest thereon; AND, WHEREAS, the City Council deems it advisable and to the I best interest of the City of San Marcos, Texas, to cancel and re- fund $90,000 of the above-described outstanding certificates of obligation by the issuance of refunding bonds in lieu thereof, and said refunding to be by authority of the Constitution and laws of the State of Texas, particularly Article 717k-3, V.A.T.C.S., 1925, as amended; and l