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<br />NonCE OF SALE
<br />AND
<br />BIDDING INSTRUCTIONS
<br />
<br />PRELl MINA R Y DRAFT III
<br />DATED: JANUARY 15, 1988
<br />
<br />ON
<br />
<br />$1,320,000
<br />CITY OF SAN MARCOS, TEXAS
<br />(Hays County)
<br />WATERWORKS AND SEWER SYSTEM REVENUE BONDS, SERIES 1988
<br />
<br />Selling Wednesday, February 17, 1988, at 7:30 PM, CST
<br />
<br />THE CITY WILL DESIGNATE THE BONDS AS
<br />"QUALIFIED TAX-EXEMPT OBLIGATIONS"
<br />FOR FINANCIAL INSTITUTIONS.
<br />
<br />THE SALE
<br />
<br />Bonds Offered for Sale at Competitive Biddinli: . . . The City of San Marcos, Texas (the "City"), is offering
<br />for sale its $1,320,000 Waterworks and Sewer System Revenue Bonds, Series 1988 (the "Bonds" or "Bond",
<br />which shall include, for purposes of definition, the Initial Bond).
<br />
<br />Address of Bids. . . Sealed bids, plainly marked "Bid for Bonds", should be addressed and delivered to
<br />"Mayor and City Council, City of San Marcos, Texas", prior to 7:30 PM, CST, on the date of the bid
<br />opening. All bids must be submitted on the Official Bid Form, without alteration or interlineation.
<br />
<br />Place and Time of Bid Openinli: . . . The City Council will open and publicly read the bids for the purchase
<br />of the Bonds at the City Hall Chambers, 630 East Hopkins, San Marcos, Texas, at 7:30 PM, CST,
<br />Wednesday, February 17, 1988.
<br />
<br />A ward of the Bonds. . . The City Council wiIJ take action to award the Bonds (or reject all bids) promptly
<br />after the opening of bids, and adOpt' an ordinance authorizing the Bonds and approving the Official
<br />Statement (the "Ordinance").
<br />
<br />THE BONDS
<br />
<br />Description. . . The Bonds will be dated February 1, 19&8 (the "Bond Date"), and interest will be due on
<br />January 1, 1989, and each January 1 and July 1 thereafter until the earlier of maturity or prior
<br />redemption. The Bonds will be issued only in fuJJy registered form in any integral multiple of $5,000 for
<br />anyone maturity, and principal and semi-annual interest will be paid by the paying agent/registrar (the
<br />"Paying Agent/Registrar") which initially is MTrust Corp, N. A., Austin, Texas. Principal of the Bonds
<br />will be payable to the registered holder or owner (the "Holder" or "Owner") at maturity or redemption
<br />upon presentation at the principal corporate office of the Paying Agent/Registrar. Interest on the Bonds
<br />will be payable by check, dated as of the interest payment date, and mailed by the Paying
<br />Agent/Registrar to registered Holders as shown on the records of the Paying Agent/Registrar on the
<br />Record Date (see "Record Date for Interest Payment" in the Official Statement), or by such other
<br />method, acceptable to the Paying Agent/Registrar, requested by, and at the risk and expense of, the
<br />Holder. If the date for the payment of the principal of or interest on this Bond shall be a Saturday,
<br />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 dose; and payment on such date shall have the same force
<br />and effect as if made on the original date payment was due. The Bonds will mature on January I in each
<br />year as follows:
<br />
<br /> Principal Principal Principal
<br />~ Amount ~ Amount Year Amount
<br />1990 $20,000 1995 $ 50,000 2001 $100,000
<br />1991 50,000 1996 75,000 2002 100,000
<br />1992 50,000 1997 75,000 2003 100,000
<br />1993 50,000 1998 100,000 2004 150,000
<br />1994 50,000 1999 100,000 2005 150,000
<br /> 2000 100,000
<br />
<br />The City reserves the right, at its option, to redeem Bonds having stated maturities on and after
<br />January 1, 1999 in whole or in part in principal amounts of $5,000 or any integral multiple thereof, on
<br />
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