Ord 2013-020/Combination of Tax and Revenue Certificates of Obligation in an amount not to exceed $13,500,000

Home Browse Search

BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS: ARTICLE I DEFINITIONS AND OTHER PRELIMINARY MATTERS Section 1.01. Definitions. Unless otherwise expressly provided or unless the context clearly requires otherwise, in this Ordinance the following terms shall have the meanings specified below: "Certificate" means the Certificates issued in one or more series pursuant to this Ordinance and the Pricing Certificate. "Certificates" means the City's certificates of obligation entitled "City of San Marcos, Texas, Combination Tax and Revenue Certificates of Obligation" with such series designation as authorized to be issued by Section 3.01 of this Ordinance and each Pricing Certificate. "Closing Date" means the date of the initial delivery of and payment for a series of Certificates. "Code" means the Internal Revenue Code of 1986, as amended, including applicable regulations, published rulings and court decisions relating thereto. "Construction Fund" means the construction fund, including any subaccounts, established by Section 8.01(a) of this Ordinance. " Defeasance Securities" means (i) Federal Securities, (ii) noncallable obligations of an agency or instrumentality of the United States of America, including obligations that are unconditionally guaranteed or insured by the agency or instrumentality and that, on the date the City Council adopts or approves proceedings authorizing the issuance of refunding bonds or otherwise provide for the funding of an escrow to effect the defeasance of the Certificates are rated as to investment quality by a nationally recognized investment rating firm not less than "AAA" or its equivalent, (iii) noncallable obligations of a state or an agency or a county, municipality, or other political subdivision of a state that have been refunded and that, on the date the City Council adopts or approves proceedings authorizing the issuance of refunding bonds or otherwise provide for the funding of an escrow to effect the defeasance of the Certificates, are rated as to investment quality by a nationally recognized investment rating firm no less than "AAA" or its equivalent and (iv) any other then authorized securities or obligations under applicable State law that maybe used to defease obligations such as the Certificates. "Designated Payment /Transfer Office" means (i) with respect to the initial Paying Agent /Registrar named herein, its corporate trust office in Houston, Texas, and (ii) with respect to any successor Paying Agent /Registrar, the office of such successor designated and located as may be agreed upon by the City and such successor. San Marcos CTRCO 2013: Ordinance 2