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subject to the following limitations (unless otherwise approved
by the City Council of this City):
a. The discount, if any, on the bonds shall not exceed
3% of any bond issue.
b. Fiscal advisory fees shall not exceed 2% of any bond
issue.
C, Legal fees and bond counsel fees shall not exceed 3%
of any bond issue.
d. Engineering fees shall not exceed 8% of the cost of
construction of the facilities to be costructed or
purchased with proceeds from any bond issue.
e. Costs of surveying and construction staking shall not
exceed 2% of the cost of construction of the
facilities to be constructed or purchased with
proceeds from any bond issue.
f. Capitalized interest for any bond issue shall not
exceed the amount required to pay two (2) years'
interest on the bonds.
g. Total reimbursement for District creation and
organization expenses paid by the proponents of the
District shall not exceed $75,000.00.
h. Total reimbursement for District operating and
administrative expenses paid by the proponents of the
District shall not exceed $75,000.00.
i. Acquisition of easements and payment therefor shall
be governed by State law and the rules and
regulations of the Texas Department of Water
Resources.
B. Unless otherwise. approved by the City Council of this
City, all bonds issued by the District shall expressly provide
that
t h e District reserves
the right
to redeem the bonds
on
the.
tenth
(10th) anniversary
of their
date of issuance
or
any
interest payment date subsequent thereto.
C. None of the restrictions and provisions in this
resolution on the issuance of District bonds shall be construed
or applied to render the bonds of the District unmarketable.