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<br />r :¡¡; ~ en <br />,- <:s- >- 0 <br />Q~ <:;s- C:::u 32 <br />'"".x - ;:::æ <br />u .- ::iiE <br />U! 0 , UJ."., ORDINANCE 1998-57 <br />,'<3 \J' c:::c::: <br />"0 Q~ <br />q ...-i ~¡;?) <br />-:~!\ ' ¡;: 'S <br />u,;J- .......;b AN ORDINANCE BY THE CITY COUNCIL OF THE CITY OF SAN <br />iiIG , ;;,,) a <br />r ,:E Co >- § MARCOS, TEXAS, CALLING A BOND ELECTION TO BE HELD WITHIN <br />01' ~ 0:::... <br />. ~ <;::s- ¡;:; (Q! SAID CITY; PROVIDING FOR THE CONDUCT AND THE GIVING <br />u - :& <br />liJ 0 - 1.1..1,." <br />.. ~y 5, c::: NOTICE OF THE ELECTION; CONTAINING OTHER PROVISIONS <br />~ N UJ~ <br />.. w INCIDENT AND RELATED TO THE PURPOSE OF THIS ORDINANCE; <br />Wi. AND DECLARING AN EMERGENCY <br /> WHEREAS, this City Council finds and determines that it is necessary and advisable to call <br />and hold an election within said City on the propositions hereinafter set forth; <br /> WHEREAS, it is further found and determined that holding such election on the date <br />hereinafter provided is in the public interest; Now, Therefore <br /> BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS: <br /> Section 1. Findings. <br /> <br /> The statements contained in the preamble of this Ordinance are true and correct and are <br />adopted as findings offact hereby, which findings are conclusive and incontestible. <br /> Section 2. Election Ordered: Propositions: Joint Election. <br /> <br /> (a) An election shall be held in the City of San Marcos, Texas, on November 3, 1998, at <br />which election the following propositions shall be submitted in accordance with law: <br /> CITY OF SAN MARCOS <br /> BOND PROPOSITION NO.1 <br /> SHALL THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, BE <br /> AUTHORIZED TO ISSUE AND SELL THE BONDS OF SAID CITY IN THE <br /> AGGREGATE PRINCIPAL AMOUNT OF $1,500,000, FOR THE PURPOSE OF <br /> ACQUIRING LAND AND INTERESTS IN LAND TO BE USED FOR <br /> CONSTRUCTION OF CITY STREETS, INCLUDING RIGHT -OF WAY FOR <br /> EXTENSION OF WONDER WORLD DRIVE TO RANCH ROAD 12 WITH <br /> CONNECTIONS TO EXISTING STREETS; WITH SAID BONDS TO BE <br /> ISSUED IN ONE OR MORE SERIES OR ISSUES, TO MATURE SERIALLY OR <br /> OTHERWISE AND BEAR INTEREST AT SUCH RATE OR RATES, NOT TO <br /> EXCEED THE RESPECTIVE LIMITS PRESCRIBED BY LAW AT THE TIME <br /> OF ISSUANCE, AND TO BE SOLD AT SUCH PRICE OR PRICES, AS THE <br /> CITY COUNCIL IN ITS DISCRETION SHALL DETERMINE; AND SHALL <br /> THERE BE LEVIED AND PLEDGED, ASSESSED AND COLLECTED <br /> ANNUALLY AD VALOREM TAXES ON ALL TAXABLE PROPERTY IN SAID <br /> CITY IN AN AMOUNT SUFFICIENT TO PAY THE ANNUAL INTEREST ON <br />R: ISAN MAR IBO ND ELEC, 98\DOC SIB LECO RD, FN <br /> PUBLISHED IN THE SAN MARCOS DAILY RECORD, SEPTEMBER 4, 1998 <br />