Ord 2008-038 - Laserfiche WebLink

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firm banking and financial arrangements for the discharge and final payment of the Refunded Obligations; and WHEREAS, Chapter 1207 further authorizes the City to enter into an escrow agreement with a paying agent for the Refunded Obligations or trust company or commercial bank that does not act as depository for the issuer, with respect to the safekeeping, investment, reinvestment, administration and disposition of any such deposit, upon such terms and conditions as the City and such paying entity may agree, provided that such deposits may be invested and reinvested in Defeasance Securities, as defined herein; and WHEREAS, the Escrow Agreement hereinafter authorize .; nstitutes an agreement of the kind authorized and permitted by said Chapter 1207; and WHEREAS, all the Refunded Obligations mature or are ubject t? ?e?nption prior to maturity within 20 years of the date of the bond hereinafter authori? ?; and WHEREAS, the City deems it appropriate to call f? ? rea? .nption ???? refunded Obligations. NOW, THEREFORE, BE IT ORD? X11 ?1 BY 1 ?', CITY 'OUNCIL OF THE CITY OF SAN MARCOS, TEXAS, THAT: Section 1. RECITALS, A'`?iOUNT ' ?T? PURt ??' OF THE BOND. The recitals set forth in the preamble hereof are inc .,?, Nate l?ereli? ? shall gave the same force and effect as if set forth in this section. The bond of the ? - s hereby , lthorized to be issued pursuant to Chapter 1207, Texas Government Code, as amens ? and deli erect in the aggregate principal amount of $ to refund the Refunc?? ' '?bligatl? ?r?' pay the costs associated with the issuance of the Bond as further set forth in t' ?e pre, 'ale to trlis Ordinance. Section 1 DESIGNATI )? ??TE, DENOMINATIONS, NUMBERS AND MATURITY f L, ?F BOND. Thy ? issued pursuant to this Ordinance shall be designated: "CITY OF ?' ?N Mt, ?'OS, TEXAS COMBINATION TAX AND SUBORDINATE LIEN REVENUE 1??:FUNDL 'BOND, SERIES 2008" and initially there shall be issued, sold, and delivered hereunder one fully ;c?cred bond, without interest coupons, dated September 1, 2008, in the denomination and principa amount of $ ,numbered from R-1 with any Bond issued in replacement thereofbeing in the denomination and principal amount hereafter stated and numbered consecutively from R-2 upward, payable to the respective initial registered owners thereof (as designated in Section 12 hereof, or to the registered assignee or assignees of the Bond or anyportion or portions thereof (in each case, the "Registered Owner"), and the unpaid principal of the Bond shall have a final maturity date of August 1, 2020, but shall be payable in installments on August 15 in each of the years and in the amounts, respectively, as set forth in the following schedule: SAN MARCOSI CO Rfdg Bonds2008:Ordinance 2