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Ord 2011-072
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Ord 2011-072
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Last modified
12/20/2012 1:44:31 PM
Creation date
4/18/2012 11:27:23 AM
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City Clerk
City Clerk - Document
Ordinances
City Clerk - Type
Certificates of Obligation
Number
2011-072
Date
12/6/2012
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of all Owners of then outstanding Certificates, no such amendment, addition, or recission shall (i) <br />extend the time or times of payment of the principal of and interest on the Certificates, reduce the <br />principal amount thereof, redemption price therefor, or the rate of interest thereon, or in any other <br />way modify the terms of payment of the principal of or interest on the Certificates, (ii) give any <br />preference to any Certificate over any other Certificate, or (iii) reduce the aggregate principal amount <br />of Certificates required for consent to any such amendment, addition, or recission. <br />Section 13.02. Further Procedures. <br />The officers and employees of the City are hereby authorized and directed from time to time <br />and at any time to do and perform all such acts and things and to execute, acknowledge and deliver <br />in the name and on behalf of and under the corporate seal of the City all such instruments, whether <br />mentioned herein or not, as may be necessary or desirable in order to carry out the terms and <br />provisions of this Ordinance, the initial sale and delivery of the Certificates, the Paying <br />Agent/Registrar Agreement, and the Official Statement. In addition, prior to the initial delivery of <br />the Certificates, the Mayor, the City Manager or Director of Finance of the City, and Certificate <br />Counsel are hereby authorized and directed to approve any technical changes or corrections to this <br />Ordinance or to any of the instruments authorized and approved by this Ordinance necessary in order <br />to (i) correct any ambiguity or mistake or properly or more completely document the transactions <br />contemplated and approved by this Ordinance and as described in the Official Statement, (ii) obtain <br />a rating from any of the national bond rating agencies, or (iii) obtain the approval of the Certificates <br />by the Attorney General of Texas. In the event that any officer of the City whose signature shall <br />appear on any certificate shall cease to be such officer before the delivery of such certificate, such <br />signature nevertheless shall be valid and sufficient for all purposes the same as if such officer had <br />remained in office until such delivery. <br />Section 13.03. Severability. <br />If any section, article, paragraph, sentence, clause, phrase or word in this Ordinance, or <br />application thereof to any person or circumstance is held to be invalid or unenforceable , the <br />remainder of this Ordinance and the application of such section, article, paragraph, sentence, clause, <br />phrase or word to other persons and circumstances nevertheless shall be valid and enforceable; and <br />it is hereby declared that this Ordinance would have been enacted without such invalid or <br />unenforceable provision. <br />ARTICLE XIV <br />PAYMENT OF ATTORNEY GENERAL FEE <br />Section 14.01. Payment of Attorney General Fee. <br />The City hereby authorizes the disbursement of a fee equal to the lesser of (i) one -tenth of one <br />percent of the principal amount of the Certificate or (ii) $9,500, for each series provided that such <br />fee shall not be less than $750, to the Attorney General of Texas Public Finance Division for payment <br />San Marcos CTRCO 2011: Ordinance 38 <br />
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