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I I 28 RESOllJTION NO. 1980-9DR A RESOLUTION by the City Council of the City of San Marcos, Texas, relating to the approval of the issuance of bonds by the Central Texas Higher Education Authority, Inc ; approving the issuance of such bonds and making certain findings in connection therewith. WHEREAS, the Central Texas Higher Education Authority, Inc. has heretofore authorized the issuance of two series of bonds known as "Central Texas Higher Education Authority, Inc. Student Loan Bonds Series A and Central Texas Higher Education Authority, Inc. Student Loan Bonds, Series B"; and WHEREAS, the said Authority has proceeded to utilize bond proceeds in accordance with the Indentures securing the bonds and in that connection has obtained the cooperation of the area banks in making loans to students which were insured under the Federal Insured Student Loan Program; and WHEREAS, it now appears that the Central Texas Higher Education Authority, Inc. will soon exhaust its funds in acquiring student loan notes that have been incurred by students who reside in or attend school within the service arEa of the Authority, and this City Council finds and determines that it would be to the best interest of the citizens of the City of San Marcos and the surrounding area for the Central Texas Higher Education Authority, Inc. to continue and also acquire guaranteed student loans (when the Texas Guarantee Loan Corporation becomes-operational) whereby students may have an opportunity to obtain an education; now, therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: SECTION 1: That all of the recitals contained in the preamble hereof are found to be true and are adopted as the findings and judgment of this City Council. SECTION 2: That the Board of Directors of the Central Texas Higher Education Authority, Inc. are commended for the manner in which loan funds have been made available for students wishing to obtain a higher education and this Council again hereby approves the utilization of bond proceeds, the investment income and earnings of the loan program by the Central Texas Higher Education Authority, Inc. for the acquisition of student loans, the payment of the expenses of the program, the retirement of bonds and the furtherance of educational opportunities.