Ord 2012-014 - Laserfiche WebLink

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C. The initial Bond shall be numbered "T-1." (ii)The Initial Compound Interest Bond shall be in the form set forth in this Section, except that: A. immediately under the name of the Bond, the headings "INTERE RATE" and "MATURITY DATE" shall both be completed with the words "As shownow" and "CUSIP NO. _____" shall be deleted. B. the first paragraph shall be deleted and the following will d: " (the "City"), being a political subdivision of the THE CITY OF SAN MARCOS, TEXAS State of Texas, hereby promises to pay to the Registered Owner sorth above, or registered assigns * (hereinafter called the "Registered Owner") the Payment at Maturity on __________ in each of the years and in installments of the respective Maturity Amounts seth in the following schedule: YearMaturity AmountsInterest Rates (Information for the Premium Compound Interest Bonds from the Prificate to be inserted) The amount shown above as the respective Maturity Amounts represent the principal amount hereof and accrued and compounded interest hereon. Interest shall accrue on the principal amount hereof from the Issuance Date at the interest rate per annum specified above, compounded semiannually on *** ________ and ________ of each year commencing . For coe of reference, a table appears on the back of this Bond showing the "Compounded A of the original principal amount plus initial premium, if any, per $5,000 Maturity Amount compounded semiannually at the yield shown on such table." C. the Initial Premium Compound Interest Bond shall be numberedPC-1." . A special Interest and Sinking Fund (the "Interest and Sinkin Section 8. TAX LEVY Fund") is hereby created solely for the benefit of the Bonds, and the Interest and Sinking Fund shall be established and maintained by the City at an official depository bank of the City. The Interest and Sinking Fund shall be kept separate and apart from all other funds and accounts of the City, and shall be used only for paying the interest on and principal of the Bond valorem taxes levied and collected for and on account of the Bonds shall be deposited, asollected, to the credit of the Interest and Sinking Fund. During each year while any of the Bonds or inreon are outstanding and unpaid, the City Council shall compute and ascertain a rate and amount of ad valorem tax which will be sufficient to raise and produce the money required to pay theinterest on the Bonds as such interest comes due, and to provide and maintain a sinking fund adequate tthe principal of the Bonds as such principal matures (but never less than 2% of the original ppal amount of the Bonds as a * To be completed as determined in the Pricing Certificate. 18 San Marcos GORB 2012 - Delegated: Ordinance