Ord 1974-037 - Laserfiche WebLink

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e . 15-d owner of the Certificate or his duly authorized attorney in fact, register same in the name of a sUbsequent owner on the City's records of registration and note same on the Registration Legend on the Certificate. I Section 7. That said Certificates shall be signed by the Mayor, countersigned by the City Secretary, and the seal of said City shall be affixed to each of said Certificates. Section 8. The form of said Certificates shall be sub- stantiallyas follows: NO. UNITED STATES OF AMERICA STA'lE OF TEXAS COUNTY OF HAYS CITY OF SAN MARCOS CERTIFICATE OF OBLIGATION, SERIES 1974 $5,000 KNOW ALL MEN BY THESE PRESENTS: That the City of San Marcos, I in the County of Hays, State of Texas, a municipal corporation duly incorporated under the laws of the State of Texas, FOR VALUE RECEIVED, under and by virtue of valid and existing claims against said City is justly indebted to and hereby promises to pay to the registered owner hereof on June 1, ____, the sum of FIVE THOUSAND DOLLARS ($5,000) in lawful money of the United States with interest thereon from date of initial registration hereof at the rate of seven per cent (7%) per annum, interest payable June 1, 1975, and semi- annually thereafter on December 1 and June 1 in each year, and the City Secretary of said City is authorized and directed to pay said registered owner said principal sum and the interest thereon by check or draft of the City without exchange or col- I lection charges to the registered owner of said Certificate out of and from monies belonging to the interest and sinking fund created for such purpose, and the City of San Marcos is hereby held and firmly bound and its faith and credit are hereby pledged for the prompt payment of the principal of and interest on this Certificate.