Ord 1972-033 - Laserfiche WebLink

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1 KNO'If ALL MEN BY THESE PRESENTS: That the Ci ty of San Marcos, 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 i~ justly indebted to and hereby promises to pay to the registered owner hereof on March 1, ____, the sum of FIVE THOUSJiliD DOLLARS ,($5,000) in lawful money of the U~ited States with interest thereon from date of initial registration hereof at the rate of six per cent (6%) per annmn, interest payable March 1, 1973, and semi- annually thereafter on September 1 and March 1 in eaCh year, and the City Secretary of said City is e.u.thorized and directed to pay said registered owner said principal sum and the interest thereon by check or draft of the City without excHange or collection 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. This certificate is one of 17 certificates numbered consecu- tively from 1 to 17, inclusive, aggregating $85,000, for the purpose of paying the contractual obligation and indebtedness to be incurred in the constructing of a police and courts building for said City and for legal services and other related expenses in connection therewith, and said certificates being issued under" and by virtue of the Constitution and laws of the State of Texas and an ordinance passed by the City Council of said City and recorded in the minutes of said City Council. The said City reserves the right to redeem this certificate' on any date after its date by paying principal and accrued interest thereon, and in the event said certificate is called for redemption prior to maturity, notice thereof in writing shall be mailed by the City Secretary to the registered owner of said certificate at least thirty (30) days prior to the date fixed for redemption and any I I - 4 -