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<br />coupon, at the HAYS COUNTY NATIONAL BANK, SAN MARCOS, TEXAS, said <br />amount being interest due that date on the certificate, bearing the <br />number hereinafter designated, of that issue of CITY OF SAN MARCOS, <br />TEXAS, COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES <br />1982-A, dated July 1, 1982. Certificate No. <br /> <br />xxxxxxxxxxxxxxxxxxxxxxxxx <br />City Secretary, City of <br />San Marcos, Texas <br /> <br />xxxxxxxxxxxxxxxxxxxxxxxxx <br />Mayor, City of San Marcos, <br />Texas <br /> <br />Section 6. For the purposes <br />certificates of obligation herein <br />definitions are provided: <br /> <br />of this ordinance <br />authorized, the <br /> <br />and the <br />following <br /> <br />(a) The term "Outstanding Bonds" shall mean all bonds at <br />any time outstanding of the following issue of said City: <br /> <br />Junior Lien Waterworks and Sewer System Revenue Bonds, Ser ies <br />1968, dated July 1, 1968. <br /> <br />(b) The term "net revenues" shall mean the gross revenues <br />derived by the City of San Marcos, Texas, from ownership and operation <br />of its waterworks and sewer system, less the Ci ty' s expenses of <br />operation and maintenance thereof, as such expenses are defined by <br />Article lll3, V.T.C.S. <br /> <br />(c) The term "certificates" shall mean the certificates of <br />obligation authorized by this ordinance. <br /> <br />(d) The term "Outstanding Certificates" shall mean the <br />outstanding certificates of the City's Certificates of Obligation, <br />Series 1982, dated May 1, 1982; and the certificates of obligation <br />authorized hereby are "additional certificates of obligation on a <br />parity, insofar as net revenues are concerned" with the Outstanding <br />Certificates, as permitted by Section 14 of the ordinance authorizing <br />the Outstanding Certificates. Sections 8, 9 and l4 of the ordinance <br />authorizing the Outstanding Certificates are hereby adopted by <br />reference and shall be applicable to the certificates authorized <br />hereby for all purposes, except to the extent specifically modified <br />and supplemented hereby. <br /> <br />(e) The term "system" shall mean the City's existing <br />waterworks and sewer system system, and all present and future <br />extensions, addition, replacements and improvements thereto. <br /> <br />Section 7. In combination wi th the ad valorem taxes herein <br />levied and ordered to be levied, the certificates and the interest <br />thereon are and shall be payable from and secured by an irrevocable <br />lien on and pledge of the net revenues of the system, subject only and <br />subordinate to a prior first lien on and pledge of the net revenues of <br />the system heretofore created in favor of the Outstanding Bonds and <br />any bonds or other securities hereafter issued to be on a parity with <br />the Outstanding Bonds. <br /> <br />Section 8. In addi tion to the funds created by the ordinance <br />authorizing the Outstanding Certificates the following fund is hereby <br />created and shall be established and maintained at an official <br />depository bank of the City, so long as any of the certificates or <br />interest thereon are outstanding and unpaid, to-wit: <br /> <br />City of San Marcos, Texas, Certificates of Obligation, <br />Series 1982-A, Interest and Sinking Fund, hereinafter referred to as <br />the "Interest and Sinking Fund". <br /> <br />Section 9. In addition to the amounts required by the ordinance <br />authorizing the Outstanding Certificates, there shall be deposited <br />from the Revenue Fund into the Interest and Sinking Fund hereby <br />