|
WHEREAS, the Escrow Agreement hereinafter authorized, constitutes an agreement of the
<br />kind authorized and permitted by said Chapter 1207; and
<br />WHEREAS, all the Refunded Obligations mature or are subject to redemption prior to
<br />maturity within 20 years of the date of the bonds hereinafter authorized: and
<br />WHEREAS, the Bonds authorized by this Ordinance are being issued and delivered pursuant
<br />to the City Charter and Chapter 1207 of the Texas Government Code, as amended, and other
<br />applicable laws: and
<br />WHEREAS, it is hereby officially found and determined that the meeting at which this
<br />Ordinance was passed was open to the public, and public notice of the time, place and purpose of
<br />the meeting was given, all as required by Chapter 551, Texas Government Code.
<br />NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF SAN
<br />MARCOS, TEXAS:
<br />Section 1. RECITALS. The recitals set forth in the preamble hereof are incorporated
<br />herein and shall have the same force and effect as if set forth in this Section.
<br />Section 2. DEFINITIONS. For all purposes of this Ordinance, except as otherwise
<br />expressly provided or unless the context otherwise requires, the terms defined in Exhibit "A" to this
<br />Ordinance have the meanings assigned to them in Exhibit "A ".
<br />Section 3. AMOUNT, NAME, PURPOSE, AND AUTHORIZATION. The Bonds,
<br />each to be designated the "CITY OF SAN MARCOS, TEXAS GENERAL OBLIGATION
<br />REFUNDING BONDS," in one or more Series are hereby authorized to be issued and delivered in
<br />accordance with the Constitution and laws of the State of Texas, particularly Chapters 1207 and
<br />1371, Texas Government Code, as amended, and the Charter of the City. The Bonds shall be issued
<br />in the aggregate principal amount not to exceed $22,500,000 for the purpose of providing funds for
<br />(i) refunding the Refunded Obligations and (ii) paying the costs of issuing the Bonds.
<br />Section 4. DATE, DENOMINATION, MATURITIES, NUMBERS, INTEREST
<br />AND REDEMPTION. (a) Initially there shall be issued, sold, and delivered hereunder one or more
<br />Series of fully registered bonds, without interest coupons, which may be in the form of Current
<br />Interest Bonds or Premium Compound Interest Bonds, numbered consecutively from R -1 upward,
<br />in the case of Current Interest Bonds, and from PC -1 upward, in the case of Premium Compound
<br />Interest Bonds (except the Initial Bond delivered to the Attorney General of the State of Texas which
<br />shall be numbered T -1 and TPC -1 respectively) payable to the respective initial Registered Owners
<br />thereof, or to the registered assignee or assignees of said Bonds or any portion or portions thereof,
<br />in Authorized Denominations, maturing not later than August 15, 2031, serially or otherwise on the
<br />dates, in the years and in the principal amounts, respectively, and dated, as all set forth in the Pricing
<br />San Marcos GORB 2013 - Delegated: Ordinance 2
<br />
|