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<br />RPF:dz:27.06
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<br />ORDINANCE 1982-54
<br />
<br />ORDINANCE AUTHORIZING THE ISSUANCE
<br />OF CERTIFICATES OF OBLIGATION
<br />
<br />THE STATE OF TEXAS
<br />COUNTY OF HAYS
<br />CITY OF SAN MARCOS
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<br />
<br />WHEREAS, this City Council, by resolution adopted on October 11,
<br />1982, directed publication of notice of the City's intention to issue
<br />a maximum principal amount of not exceeding $350,000 certificates of
<br />obligation of said City for the purpose of paying contractual
<br />obligations for professional services, including fees for engineering,
<br />financial advisory and legal services, related and incidental to
<br />additions, extensions and improvements to be made to the City's
<br />waterworks and sewer system;
<br />
<br />WHEREAS, such notice was published in the manner and to the
<br />extent required by law;
<br />
<br />WHEREAS, there has not been filed wi th the Ci ty Secretary a
<br />petition protesting the issuance of such certificates and requesting
<br />an election on same; and
<br />
<br />WHEREAS, it is affirmatively found that the City Council is
<br />authorized to proceed with the issuance and sale of such certificates
<br />as author i zed by the Consti tution and laws of the State of Texas,
<br />particularly Article 2368a.l, V.T.C.S., as amended, and in accordance
<br />with the terms of this ordinance; Now, Therefore
<br />
<br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS:
<br />
<br />Section 1. The certificates of obligation of said City, to be
<br />designated "CITY OF SAN MARCOS, TEXAS, COMBINATION TAX AND REVENUE
<br />CERTIFICATES OF OBLIGATION, SERIES 1982-B", are hereby authorized to
<br />be issued and delivered in the principal amount of $350,000, for the
<br />purpose of paying contractual obligations for professional services,
<br />including fees for engineering, financial advisory and legal services,
<br />related and incidental to additions, extensions and improvements to be
<br />made to the City's waterworks and sewer system.
<br />
<br />Section 2. Said cer ti fica tes shall be dated December 1, 1982,
<br />shall be numbered consecutively from 1 upward, shall be in the
<br />denomination of $5,000 each, and shall mature serially on the maturity
<br />date in each of the years, and in the amounts, respectively, as set
<br />forth in the following schedule:
<br />
<br />MATURITY DATE: JULY 1
<br />
<br />YEARS AMOUNTS
<br />
<br />1985/1987
<br />1988
<br />1989
<br />1990
<br />
<br />$ 25,000
<br />50,000
<br />100,000
<br />125,000
<br />
<br />Section 3. The certificates of said series scheduled to mature
<br />during the years, respectively, set forth below shall bear interest at
<br />the following rates per annum:
<br />
<br />Certificates maturing 1985, 10.50 %;
<br />Certificates maturing 1986, 10.50 %;
<br />Certificates maturing 1987, 1 0 ~o %;
<br />Certificates maturing 1988, 10.50 %;
<br />Certificates maturing 1989, 10.50 %;
<br />Certificates maturing 1990, 10.50 %i
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