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ARTICLE IV
<br />FORM OF CERTIFICATES
<br />Section 4.1: Form of CertificatesThe Certificates, including the Form of
<br />Comptroller's Registration Certificate, Form of Paying Agent/Registrar Authentication
<br />Certificate, Form of Assignment and Form of Statement of Insurance, if any, shall be in
<br />substantially the form set forth in Exhibit A hereto, with such omissions, insertions and variations
<br />as may be necessary or desirable, and not prohibited by this Ordinance.
<br />ARTICLE V
<br />SECURITY FOR THE CERTIFICATES
<br />Section 5.1: Pledge and Levy of Taxes and Revenues(a) To provide for the
<br />payment of principal of and interest on the Certificates, there is hereby levied, within the limits
<br />prescribed by law, for the current year and each succeeding year thereafter, while the Certificates
<br />or any part of the principal thereof and the interest thereon remain outstanding and unpaid, an ad
<br />valorem tax upon all taxable property within the City sufficient to pay the interest on the
<br />Certificates and to create and provide a sinking fund of not less than 2% of the principal amount
<br />of the Certificates or not less than the principal payable out of such tax, whichever is greater, with
<br />full allowance being made for tax delinquencies and the costs of tax collection, and such taxes,
<br />when collected, shall be applied to the payment of principal of and interest on the Certificates by
<br />deposit to the Debt Service Fund (as hereinafter defined) and to no other purpose.
<br />(b) In addition, pursuant to the authority of Chapter 1502, Texas Government Code,
<br />the City also hereby pledges the revenues to be derived from the City's waterworks and sewer
<br />system, after the payment of all operation and maintenance expenses thereof (the "Net
<br />Revenues"), in an amount not to exceed $1,000, to the payment of the principal of and interest on
<br />the Certificates, provided that the pledge of Net Revenues is and shall be junior and subordinate
<br />in all respects to the pledge of Net Revenues to the payment of any obligation of the City, whether
<br />authorized heretofore or hereafter, which the City designates as having a pledge senior to the
<br />pledge of the Net Revenues to the payment of the Certificates. The City also reserves the right to
<br />issue, for any lawful purpose at any time, in one or more installments, bonds, certificates of
<br />obligation and other obligations of any kind, secured in whole or in part by a pledge of Net
<br />Revenues, that may be prior and superior in right to, on a parity with, or junior and subordinate
<br />to the pledge of Net Revenues securing the Certificates.
<br />Section 5.2: Debt Service FundThe "Certificates of Obligation, Series 2021, Debt
<br />Service Fond" (the "Debt Service Fund') is hereby created, and the proceeds from all taxes levied,
<br />assessed and collected for and on account of the Certificates authorized by this Ordinance shall be
<br />deposited, as collected, in such Fund. Such amount, plus any other amounts deposited by the City
<br />into such Fund and any and all investment earnings on amounts on deposit in such Fund, shall be
<br />used only to pay the principal of, premium, if any, and interest on the Certificates.
<br />Section 5.3: Further ProceedingsAfter the Certificates to be initially issued have been
<br />executed, it shall be the duty of the Mayor and other appropriate officials and agents of the City to
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