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<br />32/; <br />:--- <br /> <br />ORDINANCE NO. <br /> <br />AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS AtJrHORIZING THE ISSUANCE AND SALE OF CITY OF SAL'f MARCOS, <br />TEXAS GENERAL OBLIGATION REFUNDING BONDS, SERIES 1995, IN THE <br />AGGREGATE PRINCIPAL AMOUNT OF $11,200,000; LEVYING AN ANNUAL <br />AD VALOREM TAX TO PAY SAID BONDS; PRESCRIBING THE FOR.l\1 OF SAID <br />BONDS; AWARDING THE SALE THEREOF; APPROVING THE OFFICIAL <br />STATEMENT; ENACTING OTHER PROVISIONS RELATING TO THE SUBJECT; <br />AND DECLARING AN EMERGENCY <br /> <br />WHEREAS, the City of San Marcos, Texas (the "City") has previously issued, and there are <br />presently outstanding, obligations of the City secured by and payable in whole or in part from ad valorem <br />taxes; <br /> <br />WHEREAS, certain of such previously issued and outstanding obligations are intended to and <br />shall be refunded pUrsuant to this Ordinance, such obligations to be refunded being described in Schedule <br />I attached hereto and incorporated herein (collectively, the "Refunded Obligations"); and <br /> <br />WHEREAS, the City Council of the City (the "City Council") hereby tInds and determines that <br />the total debt service of the refunding bonds herein authorized to be issued will amount to less than the <br />total debt service on the Refunded Obligations; and <br /> <br />WHEREAS, the City Council hereby further fInds and determines that the Refunded Obligations <br />should be refunded by the issuance of refunding bonds pursuant to this Ordinance, in accordance with <br />the laws of the State of Texas, including, particularly, Tex. Rev. Civ. Stat. Ann. art. 717k, as amended; <br />Now, Therefore <br /> <br />BE IT ORDAINED BY THE CITY COUNCIL OF CITY OF SAN MARCOS: <br /> <br />ARTICLE I <br /> <br />DEFINITIONS AND OTHER PRELIMINARY MATTERS <br /> <br />Section 1.01. Definitions. <br /> <br />Unless otherwise expressly provided or unless the context clearly requires otherwise, in this <br />Ordinance the following terms shall have the meanings specitled below: <br /> <br />"Bond" means any of the Bonds. <br /> <br />"Bonds" means the City's bonds entitled "City of San Marcos, Texas General Obligation <br />Refunding Bonds, Series 1995" authorized to be issued by Section 3.01 of this Ordinance. <br /> <br />"Closing Date" means the date of the initial delivery of and payment for the Bonds. <br /> <br />"Code" means the Internal Revenue Code of 1986, as amended, including applicable regulations, <br />published rulings and court decisions relating thereto. <br /> <br />S'A..,,."MAR'GORFD, 9j\ DOCS\CRDScaoz.1,4'2: FN <br />