HomeMy WebLinkAbout0155_1541 S -y
hereunder and all necessary records and proceedings pertaining
to the Initial Certificate of Obligation pending its delivery
and its investigation, examination, and approval by the
Attorney General of the State of Texas, and its registration
by the Comptroller of Public Accounts of the State of Texas.
Upon registration of the Initial Certificate of Obligation
said Comptroller of Public Accounts (or a deputy designated in
writing to act for said Comptroller) shall manually sign the
Comptroller's Registration Certificate on the Initial Certif-
icate of Obligation, and the seal of said Comptroller shall be
impressed, or placed in facsimile, on'the Initial Certificate
of Obligation. -The approving legal opinion of the Issuer's
Bond Counsel and the assigned CUSIP numbers may, at the option
of the Issuer, be printed on the Initial Certificate of
Obligation or on any Certificates of Obligation issued and de-
livered.
e-
livered in conversion of and exchange or replacement of any
Certificate of Obligation, but neither shall have any legal
effect, and shall be solely for the convenience and informa-
tion of the registered owners of the Certificates of Obliga-
tion.
Section 12. NO ARBITRAGE. The Issuer covenants to and
with the registered owners of the Certificates of Obligation
that it will make no use of the proceeds of the Certificates
of Obligation at any time throughout the term of this issue of
Certificates of Obligation which, if such use had been reason-
ably expected on the date of delivery of the Certificates of
Obligation to and payment for the Certificates of Obligation
by the purchasers, would have caused the Certificates of
Obligation to be arbitrage bonds within the meaning of Section
103(c) of the Internal Revenue Code of 1954, as amended, or
any regulations or rulings pertaining thereto; and by this
covenant the Issuer is obligated to comply with the require-
ments of the aforesaid Section 103(c) and all applicable and
pertinent Department of the Treasury regulations relating to
arbitrage bonds. The Issuer further covenants that the
proceeds of the Certificates of Obligation will not otherwise
be used directly or indirectly so -as to cause all or any part
of the Certificates of Obligation to be or become arbitrage
bonds within the meaning of the aforesaid Section 103(c), or
any regulations or rulings pertaining thereto.
Section 13.. SALE OF INITIAL CERTIFICATE OF OBLIGATION.
The Initial Certificate of Obligation is hereby sold and shall
be delivered to
for cash for the par value thereof and accrued interest
thereon to date of delivery, plus a premium of $
Section 14. EMERGENCY. It is hereby officially found
and determined that a case of emergency or urgent public
necessity exists which requires the holding of the meeting at
which this Ordinance is passed, such emergency or urgent
public necessity being that the proceeds from the sale of the
proposed Certificates of Obligation are required as soon as
possible and without delay for necessary and urgently needed
public improvements; and that said meeting wasopen to the
public, and public notice of the time, place and purpose of
said meeting was given, all as required by Vernon's Ann. Texas
Civ. St. Article 6252-17.
15. IMMEDIATE EFFECT. The fact that the City Council
considers the passage of this ordinance and the issuance of
the certificates of obligation necessary for the immediate
preservation of the public peace, health, safety and welfare,
creates an emergency and an imperative public necessity that
the rule requiring ordwnances to be read at more than one
meeting of the City Council before final passage be suspended,
and said rule is hereby suspended, and that this ordinance