Ord 1991-021 - Laserfiche WebLink

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Section 2.03. Fiscal Year. The System shall be operated on a basis of a fiscal year commencing on October I and ending on September 30. ARTICLE III AUTHORIZATION; GENERAL TERMS AND PROVISIONS REGARDING THE BONDS Section 3.01. Authorization. The City's revenue bonds to be designated "City of San Marcos, Texas, Waterworks and Sewer System Revenue Bonds, Series 1991," are hereby authorized to be issued and de live red in accordance with the Constitution and laws of the State of Texas, in the aggregate principal amount of $850,000 for the following purposes: $200,000 for acquiring, contructing and installing improvements and extens ions to the City's existing wastewater treatment plant and related facilities and $650,000 for constructing, improving and equipping water treatment facilities and necessary transmission lines and facilities and acquisition of land and interests in land and property necessary therefor, in accordance with Articles 1111, et seg., Vernon's Texas Civil Statutes, as amended. Section 3.02. Date. Denomination. Maturities. Numbers and Interest. (a) The Bonds shall have the Original Issue Date of May 1, 1991, and shall be in fully registered form, without coupons, in the denomination of $5,000 or any integral multiple thereof and shall be numbered separately from one upward or such other designation acceptable to the City and the Paying Agent/Registrar. (b) The Bonds shall mature on January I in the years and in the principal amounts and interest rates set forth below, interest on each Bond accruing from the Original Issue Date or the most recent Interest Payment Date to which interest has been paid or provided for at the per annum rates of interest, payable semiannually on January 1 and July 1 of each year until maturity or prior redemption, commencing January I, 1992 as follows: Principal Interest Principal Interest Year Amount Rate Year Amount Rate 1993 25,000 -9..00 % 2000 50,000 ~% 1994 25,000 q..O % 2001 50,000 GÞ r fro % 1995 25,000 tt....t) % 2002 50,000 G..n % 1996 25,000 .. .0- % 2003 50,000 ".$0 % 1997 50,000 '1'-.0 % 2004 150,000 b..$'""O % 1998 50,000 ~.OO % 2005 250,000 b.S-O % 1999 50,000 c..4-.c % 4172f -5-