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ORDINANCE NO. 2013-010

AN ORDINANCE AUTHORIZING THE ISSUANCE, SALE, AND DELIVERY OF CITY OF PENITAS, TEXAS CERTIFICATES OF OBLIGATION, SERIES 2013, PAYABLE FROM THE LEVY OF A DIRECT AND CONTINUING ANNUAL AD VALOREM TAX WITHIN THE LIMITS PRESCRIBED BY LAW AND A LIMITED PLEDGE OF THE NET REVENUES (NOT TO EXCEED $1,000) FROM THE CITY’S SEWER SYSTEM; PROVIDING FOR THE TERMS AND CONDITIONS OF SUCH CERTIFICATES; RESOLVING OTHER MATTERS INCIDENT AND RELATING TO THE ISSUANCE, PAYMENT, SECURITY, SALE, AND DELIVERY OF THE CERTIFICATES; APPROVING AN APPLICATION TO THE UNITED STATES DEPARTMENT OF AGRICULTURE (“USDA”) APPROVING THE LENDING RATE OFFERED BY USDA; AND MAKING OTHER PROVISIONS REGARDING SUCH CERTIFICATES AND MATTERS INCIDENT THERETO

READ, CONSIDERED, AND PASSED, on the 4th day of December, 2013 at a Regular Called Meeting of the Board of Commissioners at which a quorum was present.

Marcos Ochoa, Mayor

Ana Valdez, City Secretary

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