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<br />OPPICIAL SID PORK
<br />
<br />Honorable ~\ayor and City Council
<br />City of San ~arcos
<br />San Marcos, Texas
<br />
<br />February 17, 1988
<br />
<br />Members of the City Council:
<br />
<br />Reference is made to your Official Statement and Notice of Sale and Bidding Instructions, dated
<br />January 25, 1988, of $1,660,000 CITY OF SAN MARCOS, TEXAS GENERAL OBLIGATION BONDS,
<br />SERIES 1988, both of which constitute a part hereof.
<br />
<br />F or your legally issued Bonds, as described in said Notice of Sale and Bidding Instructions and Official
<br />Statement, we will pay you par and accrued interest from date of issue to date of delivery to us, plus a
<br />cash premium of $ for Bonds maturing and bearing interest as follows:
<br />
<br />Maturity Interest Maturity Interest Maturity Interest
<br />(AURust 1) Rate (AURust 1) Rate (A ugust 1) Rate
<br />1990 % 1995 % 2000 %
<br />1991 % 1996 % 2001 %
<br />1992 % 1997 % 2002 %
<br />1993 % 1998 % 2003 %
<br />1991+ % 1999 % 2001+ %
<br />Our caJculation (which is not a part of this bid) of the interest cost from the above is:
<br /> Total Interest Cost $
<br /> Less Premium
<br /> NET INTEREST COST $
<br /> EFFECTIVE INTEREST RATE 96
<br />
<br />We are having the Bonds of the following maturities insured by
<br />at a premium of $ (excluding fees paid to rating agencies).
<br />
<br />The Initial Bond or Bonds shall be registered in the name of
<br />(syndicate account manager). We will advise Mr. Einer Juu1, Corporate Trust Division, MTrust Corp,
<br />N. A., P. O. Box 2266, Austin, Texas 78780 (512) 1+79-5132, the Paying Agent/Registrar, our registration
<br />instructions at least five business days prior to the date set for Initial Delivery.
<br />
<br />Check of the Bank, , in
<br />the amount of $33,200.00, which represents our Good Faith Deposit (is attached hereto) or (has been made
<br />available to you prior to the opening of this bid), and is submitted in accordance with the terms as set
<br />forth in the Official Statement and Notice of Sale and Bidding Instructions.
<br />
<br />We agree to accept delivery of and make payment for the Bonds in immediately available funds in the
<br />Corporate Trust Division, MTrust Corp, N. A., Austin, Texas, not later than 10:00 AM, CST, on
<br />March 22, 1988, or thereafter on the date the Bonds are tendered for delivery, pursuant to the terms set
<br />forth in the Notice of Sale and Bidding Instructions.
<br />
<br />The undersigned agrees to complete, execute, and deliver to the City, at least 6 business days prior to
<br />delivery of the Bonds, a certificate relating to the "issue price" of the Bonds in the form and to the effect
<br />attached to or accompanying the Notice of Sale and Bidding Instructions, with such changes thereto as
<br />may be acceptable to the City.
<br />
<br />Respectfully submitted,
<br />
<br />By
<br />
<br />Authorized Representative
<br />
<br />ACCEPTANCE CLAUSE
<br />
<br />The above and foregoing bid is hereby in all things accepted by the City of San Marcos, Texas, this the
<br />17th day of February, 1988.
<br />
<br />ATTEST:
<br />
<br />Mayor
<br />
<br />City Secretary
<br />
<br />********
<br />
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