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<br />1 RPF:dz:27.07:12/9/83
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<br />ORDINANCE 1983-78
<br />
<br />~a ~
<br />~~ >. ~INANCE AUTHORIZING THE ISSUANCE OF $1,500,000 CITY ~
<br />ft'\ ~ MARCOS, TEXAS, WATERWORKS AND SEWER SYSTEM REVEN~
<br />00 TIFICATES OF OBLIGATION, SERIES 1984 fi
<br />
<br />THE STATE OF TEXAS §
<br />COUNTY OF HAYS §
<br />CITY OF SAN MARCOS §
<br />
<br />
<br />WHEREAS, this City Council, by resolution adopted on November 14
<br />1983, directed publication of notice of the City's intention to issu~
<br />a maximum principal amount of not exceeding $1,500,000 certificates of
<br />obligation of said City for the purpose of paying contractual
<br />obligations for improvements and extensions to the City's sewer
<br />system;
<br />
<br />WHEREAS, such notice was published in the manner and to the
<br />extent required by law;
<br />
<br />WHEREAS, there has not been filed wi th the Ci ty Secretary a
<br />petition protesting the issuance of such certificates and requesting
<br />an election on same; and
<br />
<br />WHEREAS, it is affirmatively found that the City Council is
<br />authorized to proceed with the issuance and sale of such certificates
<br />as authorized by the Constitution and laws of the State of Texas,
<br />particularly Article 2368a.l, V.T.C.S., as amended, and in accordance
<br />with the terms of this ordinance; Now, Therefore
<br />
<br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS:
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<br />Section 1. AUTHORIZATION; DESIGNATION; PRINCIPAL AMOUNT;
<br />PURPOSE. The certificates of obligation of said City to be designated
<br />as "CITY OF SAN MARCOS, TEXAS, WATERWORKS AND SEWER SYSTEM REVENUE
<br />CERTIFICATES OF OBLIGATION, SERIES 1984" (the Certif icates") are
<br />hereby authorized to be issued in the aggregate principal amount of
<br />$1,500,000 for the purpose of paying contractual obligations for
<br />addition, improvements and extensions to the City's sewer system.
<br />
<br />Section 2. DATE; MATURITIES. The Certificates shall be
<br />ini tially dated January 1, 1984, and shall become due and payable
<br />serially on January 1 in each of the years as follows:
<br />
<br />YEAR AMOUNT YEAR AMOUNT
<br />
<br />1986 $ 35,000 1995 $ 80,000
<br />1987 35,000 1996 85,000
<br />1988 40,000 1997 95,000
<br />1989 45,000 1998 105,000
<br />1990 50,000 1999 115,000
<br />1991 55,000 2000 125,000
<br />1992 60,000 2001 135,000
<br />1993 65,000 2002 145,000
<br />1994 70,000 2003 160,000
<br />
<br />
<br />
<br />Section 3. INTEREST. The Certificates shall bear interest from
<br />the later of January 1,1984, or the most recent interest payment d~te
<br />to which interest has been paid or duly provided for, at the followIng
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