Ord 1973-054 - Laserfiche WebLink

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ll-S I named; and while said bonds, or any of them, are outstanding and unpaid, a tax for each year at a rate from year to year, as will be ample and sufficient to provide funds to pay the current in- terest 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, respectively, 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 Ac- counts for registration. The state Comptroller is hereby au- thorized and instructed to deliver the bonds, when registered, to I American National Bank . Austin, Texas. Section 11. That the sale of the bonds to Underwood, Neuhaus, Co. & Associates at a price of par and accrued interest thereon to date of delivery, plus a premium of $~, is hereby confirmed. Section 12. Because of the emergency recited in the preamble hereof, this Ordinance shall take effect immediately upon its passage, and it is so ordained. PASSED AND APPROVED at a meeting open to the public, this the 15th day of October, 1973, after public notice of the time, place and purpose of said meeting was given and posted as required by law. I ATTEST: 4J .~L . ~~ R :L ~6c~yH~~ TEXAS ~~ - 7 - I _u_ _