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amendment thereto thus approved among the permanent records of this meeting The use and distribution of the Preliminary Official Statement for the Bonds and the preliminary public offering of the Bonds by the Purchaser is hereby ratified, approved and confirmed. (c) All officers of the Crty are authonzed to do any and all things to execute and deliver any and all documents, certificates or other instruments necessary or required for the issuance ofthe pohcy of municipal bond insurance relating to the Bonds To the extent permitted by applicable law, the City will comply with all notice and other applicable requirements of the insurer issuing the municipal bond insurance pohcy and financial guaranty insurance m connection with the issuance of the Bonds, as such requirements may be m the effect and transmitted to Bond Counsel with such insurer's commitment to issue such insurance (d) All officers of the Crty are authorized to execute such documents, certificates and receipts as they may deem appropriate in order to consummate the delivery of the Bonds m accordance with the Purchase Contract. (e) The obligation of the Purchaser to accept delivery of the Bonds is subject to the Purchaser's being furnished with the final, approving opinion of Bond Counsel for the Crty, which opinion shall be dated and delivered the Closing Date Section 7 02 Control and Delivery of Bonds (a) The Mayor of the Crty is hereby authorized to have control of the Initial Bond and all necessary records and proceedings pertaining thereto pending investigation, examination and approval of the Attorney General of the State of Texas, registration by the Comptroller of Public Accounts of the State of Texas, and registration with, and initial exchange or transfer by, the Paying Agent/Registrar (b) After registration by the Comptroller of Public Accounts ofthe State of Texas, delivery of the Bonds shall be made to the Purchaser under and subject to the general supervision and direction of the Mayor of the Crty, against receipt by the Crty of all amounts due to the Crty under the terms of sale ARTICLE VIII CREATION OF FUNDS AND ACCOUNTS, DEPOSIT OF PROCEEDS, INVESTMENTS Section 8 O1 Creation of Funds (a) The Crty hereby establishes the following special funds or accounts (i) the Crty of San Marcos, Texas, General Obligation Bonds, Series 2007, Interest and Smkmg Fund (the "Interest and Sinking Fund"), and (ii) the Crty of San Marcos, Texas, General Obligation Bonds, Series 2007, Construction Fund (the "Construction Fund") (b) The Interest and Sinking Fund and the Construction Fund shall be maintained at an official depository of the Crty San Marcos GO 2007' Ordinance 22