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2129 ORD AUTHORIZING ISSUANCE OF REVENUE BONDS
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2129 ORD AUTHORIZING ISSUANCE OF REVENUE BONDS
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CITY CLERK
CITY CLERK - Date
1/10/1973
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(b) such amounts, in equal monthly installments, made <br />on or before the 20th day of the month in which the <br />Bonds are delivered, if delivered before the 20th day <br />of the month, or on or before the 20th day of the <br />following month, if delivered after the 20th day of <br />the month, and each month thereafter, as will be <br />sufficient to pay the principal maturing on July 1, <br />1973, and on or before the 20th day of each month <br />thereafter, to pay the next maturing principal of <br />said Bonds. <br />Section 8, That, in addition to all other amounts <br />required by the Ordinances authorizing the Outstanding Bonds, <br />there sha11 be deposited into the Reserve Fund, created for the <br />benefit of said Outstanding Bonds and all Additional Bonds, on <br />the 20th day of each month, beginning on or before the 20th day <br />of the month in which bonds are delivered if delivered before the <br />20th day of the month, or on or before the 20th day of the <br />following month, if delivered after the 20th day of the month, <br />an amount equal to 1/60th of the average annual principal and <br />interest requirements of the Bonds, until one year's average <br />annual requirement has been accumulateda Thereafter, said <br />aggregate amount shall be maintained therein, for the benefit of <br />said Outstanding Bonds, the Series 1973-B Bonds, and all Addi- <br />tional Bonds, in accordance with the procedures, as herein <br />modified and supplemented, set forth in the Ordinances authori- <br />zing the Outstanding Bondso <br />Section. 9. That the City shall render a final <br />accounting to the Texas Water Quality Board of the total cost <br />of the improvements and extensions made to the City's Sewer <br />System with the proceeds of these bonds upon completion of such <br />construction; and if said improvements and extensions are finally <br />completed at a total cost less than estimated, the City shall, <br />if required by Texas Water Quality Board, return to the Texas <br />Water Quality Board the amount of such excess, to the nearest <br />multiple of $5,000, and in return therefor, the Board will cancel <br />and deliver to the City a like principal amount of these bonds <br />held by said Board. <br />Section 10. That said bonds are and shall be special <br />obligations of said City, and the holder or holders thereof <br />shall never have the right to demand payment thereof out of any <br />funds raised or to be raised by taxationa <br />Section llo That the Mayor of said City is hereby <br />authorized to have control of said bonds and all necessary <br />records and proceedings pertaining to said bonds pending their <br />delivery and their investigation, examination, and approval by <br />the Attorney General of the State of Texas, and their registra- <br />tion by the Comptroller of Public Accounts of the State of Texas. <br />Upon registration of said bonds, said Comptroller of Public <br />Accounts (or a deputy designated in writing to act for said <br />Comptroller) shall manually sign the Comptroller's Registration <br />Certificate prescribed herein to be printed and endorsed on the <br />back of each bond, and the seal of said Comptroller shall be <br />impressed, or printed, or lithographed on each of said bonds. <br />
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