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<br />This Official Statement does not constitute an offer to sell Certificates in any jurisdiction to any person to whom it is
<br />unlawful to make such offer in such jurisdiction. No dealer, salesman, or any other person has been authorized to give any
<br />information or make any representation, other than those contained herein, in connection with the offering of these
<br />Certificates, and if given or made, such information or representation must not be relied upon. The information and expressions
<br />of opinion herein are subject to change without notice and neither the delivery of this Official Statement nor any sale made
<br />hereunder shall, under any circumstances, create any implication that there has been no change in the affairs of the City since
<br />the date hereof.
<br />
<br />OFFICIAL ST A TEIIEJlT
<br />
<br />Dated January 25, 1988
<br />
<br />In the opinion of Bond Counsel, interest on the Certificates wiU be excludable from gross
<br />income for purposes of federal income taxation under existing law. See "Tax Exemption"
<br />herein for a discussion of Bond Counsel's opinion, including a description of the alternative
<br />minimum tax.
<br />
<br />THE CITY WILL DESIGNATE THE CERTIFICATES AS
<br />"QUALIFIED TAX-EXEMPT OBLIGATIONS"
<br />FOR FINANCIAL INSTITUTIONS.
<br />
<br />$I,31¡.0,000
<br />CITY OF SAN MARCOS, TEXAS
<br />(Hays County)
<br />
<br />COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 1988
<br />
<br />Dated: February I, 1988 (the "Certificate Date")
<br />
<br />Due: August I, as shown below
<br />
<br />These certificates (the "Certificates" or "Certificate", which shall include for purposes of definition, the
<br />Initial Certificate and the definitive Certificates) constitute direct general obJigations of the City,
<br />payable from a combination of the re€eipts of an ad valorem tax levied, within the limits prescribed by
<br />law, on taxable property located within the City and a Jimited pledge of $10,000 of surplus revenues
<br />derived from the operation of the City's waterworks and sewer system, as provided in the ordinance
<br />authorizing the Certificates (the "Ordinance").
<br />
<br />Interest on the Certificates will be payable February I and August 1 of each year, commencing
<br />February 1, 1989. The definitive Certificates will be issued only in fully registered form in any integral
<br />multiple of $5,000 for anyone maturity. Principal of the Certificates will be payable to the registered
<br />holder or owner (the "Holder" or "Owner") at maturi ty or redemption upon presentation at the principal
<br />corporate office of the paying agent/registrar (the "Paying Agent/Registrar"), initially MTrust Corp,
<br />N. A., Austin, Texas. Interest on the Certificates will be payable by check, dated as of the interest
<br />payment date, and mailed by the Paying Agent/Registrar to registered Holders as shown on the records of
<br />the Paying Agent/Registrar on the Record Date (see "Record Date for Interest Payment" herein), or by
<br />such other method, acceptable to the Paying Agent/Registrar, requested by, and at the risk and expense
<br />of, the Holder. If the date for the payment of the principal of or interest on this Certificate shall be a
<br />Saturday, Sunday, a legal holiday, or a day on which banking institutions in the City where the Paying
<br />Agent/Registrar is located are authorized by law or executive order to close, then the date for such
<br />payment shall be the next succeeding day which is not such a Saturday, Sunday, legal holiday, or day on
<br />which banking institutions are authorized to close; and payment on such date shall have the same force
<br />and effect as if made on the original date payment was due.
<br />
<br />MA TURITY SCHEDULE
<br />
<br />Amount Maturity ~ Yield Amount Maturity Rate ~
<br />$ I¡.O,OOO 8-1-1990 $100,000 8-1-1997
<br />50,000 8-1-1991 100,000 8-1-1998
<br />75,000 8-1-1992 100,000 8-1-1999*
<br />75,000 !H-1993 125,000 8-1-2000*
<br />75,000 8-1-1991¡. 125,000 8-1-2001*
<br />75,000 8-1-1995 150,000 8-1-2002*
<br />[00,000 8-1-1996 150,000 8-1-2003*
<br />
<br />*The City reserves 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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