Laserfiche WebLink
<br />City of San Marcos, Texas, Waterworks and Sewer System Revenue <br />Bonds, Series 1996-A; <br /> <br />City of San Marcos, Texas, Waterworks and Sewer System Revenue <br />Bonds, Series 1996-B; <br /> <br />City of San Marcos, Texas, Waterworks and Sewer System Revenue <br />Bonds, Series 1996-C; and <br /> <br />City of San Marcos, Texas, Waterworks and Sewer System Revenue <br />Bonds, Series 1997. <br /> <br />"Purchaser" means the person, firm or entity initially purchasing the Bonds from the City and which <br />is designated in Section 7.01 of this Ordinance. <br /> <br />"Record Date" means the last business day of the month next preceding an Interest Payment Date. <br /> <br />"Register" means the Register specified in Section 3.06(a) of this Ordinance. <br /> <br />"Special Payment Date" means the Special Payment Date prescribed by Section 3.03(b) of this <br />Ordinance. <br /> <br />"Surety Policy" means, to the extent permitted by law, as evidenced by an opinion of nationally <br />recognized bond counsel, a surety bond or insurance policy (which, under currently applicable law, may <br />not entitle the provider thereofto any right of reimbursement or repayment other than a right to subrogation <br />upon payments being made to bondholders) by which the issuer is obligated to provide funds up to and <br />including the maximum amount and under the conditions specified in such agreement or instrument, <br />provided iliat the issuer of any Surety Policy shall be rated, at the time of issuance of such Surety Policy, <br />in the highest rating category by Standard & Poor's Ratings Group and Moody's Investors Service. <br /> <br />"System" means the City's combined Waterworks and Sewer System, including all present and <br />future extensions, enlargements, additions, replacements and improvements thereto. <br /> <br />"Unclaimed Payments" means money deposited with the Paying AgentlRegistrar for the payment <br />of the principal of or interest on the Bonds as the same come due and payable and remaining unclaimed <br />by the Owners of Bonds for 90 days after the applicable payment or redemption date. <br /> <br />Section 1.02. Other Definitions. <br /> <br />The terms "City Council" and "City" shall have the respective meanings assigned in the preamble <br />to this Ordinance. <br /> <br />Section 1.03. Findings. <br /> <br />The declarations, determinations and findings declared, made and found in the preamble to this <br />Ordinance are hereby adopted, restated and made a part of the operative provisions hereof. <br /> <br />R:\SANMAR,\WWSS.98\DOCS\ORDNCE <br /> <br />3 <br />