O-1962-656 - Laserfiche WebLink

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e e ~ denomination of $1,000 each, AGGREGATING $41,000, and, together with the other bonds of said series, is issued for the purpose of refunding, cancelling, and in lieu of a like principal amount of outstanding indebtedness of said City, under and by virtue of the Constitution and laws of the State of Texas, particularly Article 2368a, Vernonls Texas Civil Statutes, as amended, and the Home Rule Charter of said City, and pursuant to an ordinance passed and adopted by the City Commission of said City, which ordinance is of record in the official minutes of said City Council. THE HOLDER CF THIS BOND AND THE HOLDERS OF THE OTHER BONDS OF THE SERIES OF WHICH THIS BOND IS A PART shall be subro- - gated to all the rights and privileges belonging to the holder or holders of the bonds which have been refunded by the issuance of this series of bonds. IT IS HEREBY CERTIFIED, RECITED, AND REPRESENTED that - all acts, conditions, and things necessary to be done precedent to and in the issuance of this bond and the other bonds of the series of bonds of which this is one, in order to render the same legal, valid, and binding obligations of said City, have been done, have happened, and have been performed in regular and due time, form, and manner as required by lawj that due provision has been made for the payment of the principal of and interest on this bond and the other bonds of the series of which this bond is one, by the levy of a direct annual ad valorem tax upon all taxable property within said City, sufficient for said pur- posesj and that the entire issue of bonds of which this one is a part, together with all other indebtedness of said City, does not exceed any Constitutional or statutory limitation. e -7-