08-ordinance authorizing the issuance and sale of the City's Combination Tax & Revenue Certificates of Obligation

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Certifications as to_Oryanization Existence and Qualifications of the lssuer 8. The Issuer is a duly incorporated Home Rule City, having more than 5,000 inhabitants, operating and existing under the Constitution and laws of the State of Texas and the duly adopted Hame Rule Charter of the City, which Charter has not been amended since the issuance of the most recent obligations approved by the Attorney General of Texas. Certification as to the Issuer's Tax-Supported Debt 9. Attached to this certificate and marked Exlvbit A is a true, full and correct debt service schedule for the proposed Certificates and all of the Issuer's other outstanding indebtedness that is payable from a pledge of its tax revenues. In addition to the proposed Certificates, the Issuer currently has $24,775,000 of outstanding tax-supported debt (the "Outstanding Tax Obligations"), consisting of the following: (i) its Combination Tax and Revenue Certificates of Obligation, Series 2002, outstanding in the principal amount of $4,280,000, (ii) its General Obligation Refunding Bonds, Series 2003, outstanding in the principal amount of $3,420,000 and (iii) its General Obligation Refunding Bonds, Series 2010, outstanding in the principal amount of $17,075,000. Certification as to the Issuer's Current Tax Roll 10. The currently effective ad valorem Tax Rolls of the Issuer are those for the year 2009, being the most recently approved Tax Rolls of the Issuer; that the taxable property in the Issuer has been assessed as required by law; that the Board of Equalization of the Issuer has eyualized and approved the valuation of taxable property in the Issuer for said year; that the Tax Assessor of the Issuer has duly verified the aforesaid Tax Rolls, and said Board of Equalization has finally approved the same; and that the assessed value of taxable property in the Issuer upon which the annual ad valorem tax of the Issuer has been levied (after deducting the amount of all exemptions, if any, taken or required to be given under the Constitution and laws of the State of Texas), according to the aforesaid Tax Rolls for said year, as delivered to the City Clerk ofthe Issuer, and finally approved and recorded by the City Council ofthe Issuer, is $1,504,756,374. Certification as to Absence of Petition for Referendum 11. No petition protesting the issuance of the Certificates and requesting a referendum election has been received. Certifications as to Waterworks and Sewer S s~ 12. None of the revenues or income of the Issuer's combined Waterworks and Sewer System (the "System") have been pledged or encumbered to the payment of any debt or obligation of the Issuer or the System, except in connection with (i) the aforesaid propased Certificates, (ii) the Issuer's Combination Tax and Revenue Certificates of Obligation, Series 2002, which are currently outstanding in the principal amount of $4,280,000 and (iii) the Issuer's Waterworks and Sewer System Revenue Bonds, Series 2000, which are cw-rently outstanding in the principal amount of $480,000. 13. Attached hereto as Exhibit B is a true, full and correct schedule of the income (consisting of operating income and interest income) and expenses (consisting of operating expenses, but excluding