O-1979-768-B - Laserfiche WebLink

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, e I . e - Revenues of said waterworks and sewer system to the payment of the bonds when and if any city, town, or vil1age of the state of Texas annexes the District in its entirety, dissolves the District and assumes the obligations of the District. Reference is made to the Order for a more complete description of the terms, conditions and circum- stances under and by virtue of which such pledge may be terminated, and to the other provisions of the Order to which the bearer hereof expressly consents by accepting this bond. THE DISTRICT EXPRESSLY RESERVES THE RIGHT TO ISSUE additional bonds which may be in all respects on a parity with the series of bonds of which this bond is a part and with the Outstanding Bonds. The District shall also have the right to issue bonds with liens inferior to the lien securing this bond and the Outstanding Bonds. Reference is made to the Order for a complete description of the right to issue additional 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 this Series of bonds, in order to render the same legal, valid and binding obligations of said District have been done, have happened, and have been performed in regular and due time, form and manner, as required by law; that due provision has been made for the payment of principal of and interest on this bond, and the Series of which it is a part, by the levy of a direct annual ad valorem tax upon all taxable property within said district sufficient for said purposes, and, in addition, by irrevocably pledging the net revenues of the District's waterworks and sanitary sewer system in the manner provided by law; and that the total indebtedness of said District, including the entire Series of bonds of which this is one, does not exceed any Constitutional or statutory limitation. IN WITNESS WHEREOF, this bond and the interest coupons attached hereto have been signed by the imprinted or lithographed facsimile signature of the President or Vice President of the Board of Directors of said District and countersigned by the imprinted or lithographed facsimile signature of the Secretary or Assistant Secretary of said Board of Directors, and the official seal of said District has been duly impressed, or printed or lithographed on this bond, all as of the 1st day of October, 1979. President, Board of Directors Spenwick Place Municipal utility District COUNTERSIGNED: Secretary, Board of Directors Spenwick Place Municipal utility District -5-