Ord 1977-035 - Laserfiche WebLink

Home Browse Search

123 I ORDINANCE NO. 35 I AN ORDINANCE BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, AUTHORIZING THE ISSUANCE OF $75,000 CITY OF SAN MARCOS TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 1977, FOR THE PURPOSE OF PAYING CONTRACTUAL OBLIGATIONS TO BE INCURRED FOR CONSTRUCT- ING AND ACQUIRING IMPROVEMENTS TO THE CITY'S AIRPORT, AND FOR PAYING CONTRAcTUAL OBLIGATIONS FOR PROFES- SIONAL SERVICES, INCLUDING ATTORNEYS AND FINANCIAL ADVISORS; PROVIDING FOR THE TERMS AND CONDITIONS OF SUCH CERTIFICATES OF OBLIGATION AND THE PAYMENT THEREOF; CONTAINING OTHER MATTERS RELATING TO SAID SUBJECT; AND DECLARING AN EMERGENCY. WHEREAS, on the 22nd day of August, 1977, the City Council of said City passed a resolution authorizing and directing the publication of notice of its intention to issue Certificates of Obligation of said City; WHEREAS, said notice was published as required by Section 8(b) of Article 2368a.l, V.T.C.S., as amended, on August 25, 1977, and September 1, 1977; WHEREAS, no petition signed by 5% of the qualified I electors of said City protesting the issuance of such Certifi-, cates of Obligation has been filed; and WHEREAS, this City Council is now autho,rized and em-' powered to proceed with the issuance of such Certificates of Obligation and to sell same for cash; Now, Therefore BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS: Section I. That the Certificates of Obligation of said City to be designated "CITY OF SAN MARCOS TAX AND REVENUE CERTIFI- CATES OF OBLIGATION, SERIES 1977", are hereby authorized to be issued and delivered in the principal amount of $75,000 for t,he purpose of paying contractual obligations to be incurred for con- structing and acquiring improvements to the City's airport, and for I paying contractual obligations for professional services, including attorneys and financial advisors. Section 2. That said Certificates of Obligation shall