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<br />This Official Statement does not constitute an offer to sell Bonds in any jurisdiction to any person to whom it is unlawful to
<br />make such offer in such jurisdiction. No dealer, salesman, or any other person has been authorized to give any information or
<br />make any representation, other than those contained herein, in connection with the offering of these Bonds, and if gi'len or
<br />made, such information or representation must not be relied upon. The information and expressions of opinion herein are subject
<br />to change without notice and neither the delivery of this Official Statement nor any sale made hereunder shall, under any
<br />circumstances, create any implication that there has been no change in the affairs of the City since the date hereof.
<br />
<br />0 PPI CIAL ST A TEMEHT
<br />
<br />Dated January 25, 1988
<br />
<br />In the opinion of Bond Counsel, interest on the Bonds will be excludable from gross income for
<br />purposes of federal income taxation under existing law. See "Tax Exemption" herein for a
<br />discussion of Bond Counsel's opinion, including a description of the alternative minimum tax.
<br />
<br />THE CITY WILL DESIGNATE THE BONDS AS
<br />"QUALIFIED TAX-EXEMPT OBLIGATIONS"
<br />FOR FINANCIAL INSTITUTIONS.
<br />
<br />$ 1,660,000
<br />CITY OF SAN MARCOS, TEXAS
<br />(Hays County)
<br />
<br />GENERAL OBLIGATION BONDS, SERIES 1988
<br />
<br />Dated: February 1, 1988 (the "Bond Date")
<br />
<br />Due: August 1, as shown below
<br />
<br />These bonds (the "Bonds" or "80n<l", which shall include for purposes of definition, the Initial Bond and the
<br />definitive Bonds) have been authorized at an election held April 7,1984, and constitute direct and voted
<br />general obligations of the City, payable from an ad valorem tax levied, within the limits prescribed by
<br />law, on taxable property located within the City, as provided in the ordinance authorizing the Bonds (the
<br />"Ordinance").
<br />
<br />Interest on the Bonds wiU be payable February 1 and August 1 of each year, commencing
<br />February 1, 1989. The definitive Bonds wHl be issued only in fully registered form in any integral multiple
<br />of $5,000 for anyone maturity. Principal of the Bonds will be payable to the registered holder or owner
<br />(the "Holder" or "Owner") at maturity or redemption upon presentation at the principal corporate office of
<br />the paying agent/registrar (the "Paying Agent/Registrar"), initially MTrust Corp, N. A., Austin, Texas.
<br />Interest on the Bonds will be payable by check. dated as of the interest payment date. and mailed by the
<br />Paying Agent/Registrar to registered Holders as shown on the records of the Paying Agent/RegLtrar on
<br />the Record Date (see "Record Date for Interest Payment" herein), or by such other method, acceptable to
<br />the Paying Agent/Registrar, requested by, and at the risk and expense of, the Holder. If the date for the
<br />payment of the principal of or interest on this Bond shall be a Saturday, Sunday, a Legal holiday, or a day
<br />on which banking institutions in the City where the Paying Agent/Registrar is located are authorized by
<br />law or executive order to close, then the date for such payment shall be the next succeeding day which is
<br />not such a Saturday, Sunday, legal holiday, or day on which banking institutions are authorized to close;
<br />and payment on such date shall have the same force and effect as if made on the original date payment
<br />was due.
<br />
<br />MA TURITY SCHEDULE*
<br />
<br />Amount Maturity ~ Yield Amount Maturity Rate ~
<br />$60,000 8-1-1990 $100,000 8-1-1998
<br />75,000 8-1-1991 125,000 8-1-1999*
<br />75,000 8-1-1992 125,000 8-1-2000*
<br />75,000 8-1-1993 125,000 8-1-2001*
<br />75,000 8-1-1994 125,000 8-1-2002*
<br />75,000 8-1-1995 150,000 8-1-2003*
<br />75,000 8-1-1996 325,000 8-1-2004*
<br />75,000 8-1-1997
<br />
<br />*The City reser'les the right, at its option, to redeem Bonds having stated maturities on and after
<br />August 1, 1999, in whole or in part in principal amounts of $5,000 or any integral multiple thereof. on
<br />
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