Ord 2008-038 - Laserfiche WebLink

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FORM OF REGISTRATION CERTIFICATE OF THE COMPTROLLER OF PUBLIC ACCOUNTS: COMPTROLLER'S REGISTRATION CERTIFICATE: REGISTER N0. I hereby certify that this Bond has been examined, certified as to validity, and approved by the Attorney General of the State of Texas, and that this Bond has been registered by the Comptroller of Public Accounts of the State of Texas. Witness my signature and seal this Comptroller of r u??? ' ccounts of the State f Texas [COMPTROLLER'S SEAL] Section 6. TAX LEVY. (a) A speci? ?? ? rest anc? ? inking F? d (the "Interest and Sinking Fund") is hereby created solely for the benefit of trl. ' end, a?? ?erest and Sinking Fund shall be established and maintained by the City at an official ?. ?sitory bank of the City. The Interest and Sinking Fund shall be kept separate ?nd apart ??^ ? ill other ,?r` and accounts of the City, and shall be used only for paying the interec end _ ?ncl?,? f the ? ..and. All ad valorem taxes levied and collected for and on account of the Boni '?? 11 be depo? `ed, as collected, to the credit of the Interest and Sinking Fund. During each year while ? Bond o interest thereon is outstanding and unpaid, the governing body of the City shy'' ??mpute ? ar ,ertain a rate and amount of ad valorem tax which will be sufficient to raise ? ld pry ?e the r?l?ney required to pay the interest on the Bond as such interest comes d? ?, u?,d to 1 1vid ? are ,? retain a sinking fund adequate to pay the principal of the Bond as such r ?ncipal matures (1 zt nee e? Bess than 2% of the original principal amount of the Bond as a sirikir , . 'each year); an, ax shall be based on the latest approved tax rolls of the City, with fuJ' ?llowa?, '?eing made for tax delinquencies and the cost of tax collection. The rate and amount of ?d valorer?_ - is hereby levied, and is hereby ordered to be levied, against all taxable property in the City for each ? ? «l??ile the Bond or interest thereon is outstanding and unpaid; and the tax shall be assessed and coy ,?,ted each such year and deposited to the credit of the Interest and Sinking Fund. The ad valorerli taxes sufficient to provide for the payment of the interest on and principal of the Bond, as such interest comes due and such principal matures, are hereby pledged for such payment, within the limit prescribed by law. Accrued interest on the Bond shall be deposited in the Interest and Sinking Fund. (b) The Bond is additionally secured by and payable from a lien on the Net Revenues of the City's Waterworks and Waste Water System, which lien is subordinate to the lien securing the City's outstanding Parity Obligations in accordance with the ordinances authorizing the Parity Obligations. The City shall deposit such Net Revenues to the credit of the Interest and Sinking Fund created pursuant to Section 6(a), to the extent necessary to pay the principal and interest on the Certificate. SAN MARCOSI CO Rfdg Bonds2008:Ordinance