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<br />OFFICIAL STATEMENT RELATING TO <br /> <br />$1,320,000 <br />City of San Marcos, Texas <br />Waterworks and Sewer System Revenue Bonds, Series 1988 <br /> <br />INTRODUCTION <br /> <br />This Official Statement of the City of San Marcos, Texas (the "City"), a poJitical subdivision located in <br />Hays County, is provided to furnish information in connection with the sale of the City's $1,.320,000 <br />Waterworks and Sewer System Revenue Bonds, Series 1988 (the "Bonds"). The Bonds are issued pursuant <br />to the provisions of an ordinance (the "Ordinance") to be adopted by the City Council on <br />February 17, 1988. <br /> <br />This Official Statement was prepared to present for the purchaser of the Bonds information concerning <br />the Bonds, the revenues pledged to the Bonds, the description of the revenue base, factors that may affect <br />pledged revenues, and other pertinent data, aU as more fully described herein. See "Table of Contents". <br /> <br />The City has never defaulted on its general obligation or revenue bonds. <br /> <br />The City operates under a Home Rule Charter which was approved by the electorate February 24, 1967. <br />The Charter provides for the Council-Manager form of government for the City. Policy making and <br />supervisory functions are the responsibility of and vested in the Mayor and City Council. <br /> <br />USE OF PROCEEDS <br /> <br />Proceeds from the sale of the Bonds will be used for water system improvements within the City and <br />related contingencies such as engineer's fees and issuance costs. <br /> <br />SOURCE OF PA YMENT <br /> <br />The Bonds are payable from and seourèd by an irrevocable first lien on and pledge of the net revenues of <br />the City's waterworks and sewer system (the "System") as provided in the Ordinance. <br /> <br />- 5 - <br />