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<br />MATURE SERIALLY OR OTHERWISE AND BEAR INTEREST AT SUCH <br />RATE OR RATES, NOT TO EXCEED THE RESPECTIVE LIMITS <br />PRESCRIBED BY LAW AT THE TIME OF ISSUANCE, AND TO BE <br />SOLD AT SUCH PRICE OR PRICES, AS THE CITY COUNCIL IN <br />ITS DISCRETION SHALL DETERMINE; AND SHALL THERE BE <br />LEVIED AND PLEDGED, ASSESSED AND COLLECTED ANNUALLY AD <br />VALOREM TAXES ON ALL TAXABLE PROPERTY IN SAID CITY IN <br />AN AMOUNT SUFFICIENT TO PAY THE ANNUAL INTEREST ON SAID <br />BONDS AND PROVIDE A SINKING FUND TO PAY SAID BONDS AT <br />MATURITY? <br /> PROPOSITION NO. 10 <br /> <br />SHALL THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS, BE AUTHORIZED TO ISSUE AND SELL THE BONDS OF <br />SAID CITY IN THE AGGREGATE PRINCIPAL AMOUNT OF <br />$175,000, FOR THE PUBLIC PURPOSE OF CONSTRUCTING AND <br />INSTALLING PUBLIC IMPROVEMENTS FOR AND WITHIN THE <br />AIRPORT INDUSTRIAL PARK WITHIN THE CITY, INCLUDING <br />STREETS AND STREET IMPROVEMENTS, WATER, SEWER, <br />ELECTRIC, AND DRAINAGE FACILITIES; WITH SAID BONDS TO <br />BE ISSUED IN ONE OR MORE SERIES OR ISSUES, TO MATURE <br />SERIALLY OR OTHERWISE AND BEAR INTEREST AT SUCH RATE OR <br />RATES, NOT TO EXCEED THE RESPECTIVE LIMITS PRESCRIBED <br />BY LAW AT THE TIME OF ISSUANCE, AND TO BE SOLD AT SUCH <br />PRICE OR PRICES, AS THE CITY COUNCIL IN ITS DISCRETION <br />SHALL DETERMINE; AND SHALL THERE BE LEVIED AND PLEDGED, <br />ASSESSED AND COLLECTED ANNUALLY AD VALOREM TAXES ON ALL <br />TAXABLE PROPERTY IN SAID CITY IN AN AMOUNT SUFFICIENT <br />TO PAY THE ANNUAL INTEREST ON SAID 'BONDS AND PROVIDE A <br />SINKING FUND TO PAY SAID BONDS AT MATURITY? <br /> PROPOSITION NO. 11 <br /> <br />SHALL THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS, BE AUTHORIZED TO I SSUE AND SELL THE BONDS OF <br />SAID CITY IN THE AGGREGATE PRINCIPAL AMOUNT OF <br />$2,000,000, FOR THE PUBLIC PURPOSE OF ACQUIRING, <br />CONSTRUCTING AND INSTALLING ADDITIONS, IMPROVEMENTS AND <br />EXTENSIONS TO THE CITY'S EXISTING WASTEWATER TREATMENT <br />PLANT AND RELATED FACILITIES; WITH SAID BONDS TO BE <br />ISSUED IN ONE OR MORE SERIES OR ISSUES, TO MATURE <br />SERIALLY OR OTHERWISE AND BEAR INTEREST AT SUCH RATE OR <br />RATES, NOT TO EXCEED THE RESPECTIVE LIMITS PRESCRIBED <br />BY LAW AT THE TIME OF ISSUANCE, AND TO BE SOLD AT SUCH <br />PRICE OR PRICES, AS THE CITY COUNCIL IN ITS DISCRETION <br />SHALL DETERMINE; AND WITH SAID BONDS TO BE SECURED BY <br />AND PAYABLE FROM A LIEN ON AND PLEDGE OF THE NET <br />REVENUES FROM THE OPERATION OF THE CITY'S WATERWORKS <br />AND SEWER SYSTEM? <br /> -5- <br />3967£/5 <br />