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The City shall have the power to borrow money on the credit of the City and also <br />to issue or incur bonds and other evidence of indebtedness, and such powers may <br />be exercised to finance public improvements or for any other public purpose not <br />prohibited by the Constitution and the laws of the State of Texas, and the City may <br />issue refunding bonds to refund outstanding bonds and other evidence of <br />indebtedness of the City previously issued or incurred. <br />All such bonds and other evidence of indebtedness shall be issued in conformity <br />with the laws of the State of Texas and may be secured by or paid, in whole or in <br />part, from ad valorem tax revenues, revenues derived from other taxing powers of <br />the City, revenues derived by the City from any fee or service charge, including <br />revenues derived from the operations of any public utilities, utility systems, <br />recreational facilities or any other municipal function and may be secured by a <br />mortgage on the physical properties of such public utilities in payment of such debt <br />to the extent not prohibited by the Constitution and laws of the State of Texas. Such <br />bonds or evidence of indebtedness may be a charge upon and payable from the <br />properties, or interest therein pledged, or the income there from, or both to the <br />extent not prohibited by the Constitution or laws of the State of Texas. The proceeds <br />of bonds or other evidence of indebtedness issued or incurred by the City shall be <br />used only for the purpose for which the bonds or other indebtedness were issued or <br />incurred. <br />Proposition L <br />Proposition L ballot language shallread: <br />Shall Sec. 67 of the Charter be amended to delete outdated language related to <br />appointment of a deputydirector of finance? <br />If Proposition L is approved by the voters on November 8, 2022, Sec. 67 of the Charter will <br />thereafterread as follows: <br />Sec. 67.Director of finance; appointment. <br />There shall be a department of finance, the head of which shall be the director of <br />finance, who shall be appointed by the city manager. <br />Proposition M <br />Proposition M ballot languageshall read: <br />Shall Subsection (5) of Sec. 69 of the Charter be amended to delete outdated language <br />regarding the Director of Finance’s responsibilities of assessment of property in the City <br />for taxation? <br />6 <br /> <br /> <br />