|
<br />
<br />~~
<br />h' LW
<br />116m_ u....
<br />-<
<br />
<br />~
<br />~
<br />~
<br />
<br />~I
<br />;:: eG.
<br />1.1.I2
<br />e::: . c
<br />td~
<br />CI)_
<br />>0
<br />I-b
<br />Q(3
<br />
<br />AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS,
<br />TEXAS, AUTHORIZING THE ISSUANCE AND SALE OF CITY OF SAN MARCOS,
<br />TEXAS, COMBINATION TAX AND REVENUE CERTIFICATES OF
<br />OBLIGATION, SERIES 1999, IN THE AGGREGATE PRINCIPAL AMOUNT OF
<br />$2,500,000; PROVIDING FOR THE SECURITY FOR AND PAYMENT OF SAID
<br />CERTIFICATES; PRESCRIBING THE FORM OF SAID CERTIFICATES;
<br />AWARDING THE SALE THEREOF; APPROVING THE OFFICIAL STATEMENT;
<br />ENACTING OTHER PROVISIONS RELATING TO THE SUBJECT; AND
<br />DECLARING AN EMERGENCY
<br />
<br />-
<br />.~
<br />-1"
<br />
<br />ORDINANCE NO.
<br />
<br />WHEREAS, on January ll, 1999, the City Council (the "City Council") of the City of San Marcos,
<br />Texas (the "City") adopted a resolution directing publication of notice of the City's intention to issue, on
<br />February 8, 1999, certificates of obligation of the City in the maximum principal amount of $2,500,000, for
<br />the public purpose of paying contractual obligations to be incurred for renovating and improving
<br />streets, including purchase of necessary materials, supplies and equipment;
<br />
<br />WHEREAS, on February 8, 1999, pursuant to said resolution, the City Council passed an ordinance
<br />authorizing the issuance and awarding the sale of the certificates of obligation of the City entitled "City of
<br />San Marcos, Texas, Combination Tax and Revenue Certificates of Obligation, Series 1999, in the aggregate
<br />principal amount of $2,500,000, for the aforesaid purpose (the "Certificates");
<br />
<br />WHEREAS, subsequent to the passage of said ordinance, it was determined that the newspaper in
<br />which notice of the City's intention to issue such certificates of obligation was to have been published had
<br />failed to publish such notice;
<br />
<br />WHEREAS, upon discovery of such failure of publication, the City Secretary of the City delivered
<br />to said newspaper notice of the City's intention to authorize the issuance of such certificates of obligation
<br />at the meeting of the City Council to be held on March 1, 1999, which such notice was published in such
<br />newspaper on February 11, 1999, and February 18, 1999;
<br />
<br />WHEREAS, at the meeting at which this Ordinance has been adopted, the City Council has finally
<br />passed a resolution approving, ratifying and confirming such publication;
<br />
<br />WHEREAS, it is affirmatively found and determined that the City is authorized to issue such
<br />certificates of obligation pursuant to the Constitution and laws of the State of Texas, including, particularly,
<br />Tex. Loc. Gov't Code Ann. ch. 271, subch. C, and Tex. Rev. Civ. Stat. Ann. arts. 1111, et seq., as amended;
<br />Now, Therefore
<br />
<br />BE IT ORDAINED BY THE CITY COUNCIL OF CITY OF SAN MARCOS:
<br />
<br />RISANMARICO.99\DOCS\ORDNCFN.WPD
<br />
|