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OPFICIAL BID FORM Honorable Mayor and City Council City of San Marcos San Marcos, Texas February 17, 1988 Members of the City Council: Reference is made to your Official Statement and Notice of Sale and Bidding Instructions, dated January 25, 1988, of $1,320,000 CITY OF SAN MARCOS, TEXAS WATERWORKS AND SEWER SYSTEM REVENUE BONDS, SERIES 1988, both of which constitute a part hereof. For your legally issued Bonds, as described in said Notice of Sale and Bidding Instructions and Official Statement, we will pay you par and accrued interest from date of issue to date of de!ivery to us, plus a cash premium of $ for Bonds maturing and bearing interest as follows: Interest Interest Interest Maturity Rate Maturity Rate Maturity Rate 1-1-1990 % 1-1-1995 % 1-1-2001 % 1-1-1991 % 1-1-1996 % 1-1-2002 % 1- 1-1992 % 1-1-1997 % 1-1-2003 % 1-1-1993 % 1-1-1998 % 1-1-2004 % 1-1-1994 % 1-1-1999 % 1-1-2005 % 1-1-2000 % Our calculation (which is not a part of this bid) of the interest cost from the above is: Total Interest Cost $ Less Premium NET INTEREST COST $ EFFECTIVE INTEREST RATE 96 We are having the Bonds of the following maturities insured by at a premium of $ (excluding fees paid to rating agencies). The Initial Bond or Bonds shall be registered in the name of (syndicate account manager). We will advise Mr. Einer Juul, Corporate Trust Division, MTrust Corp, N. A., P. O. Box 2266, Austin, Texas 78780 (.512) 479-5132, the Paying Agent/Registrar, our registration instructions at least five business days prior to the date set for Initial De!ivery. Check of the Bank, , in the amount of $26,400.00, which represents our Good Faith Deposit (is attached hereto) or (has been made available to you prior to the opening of this bid), and ìs submitted in accordance with the terms as set forth in the Official Statement and Notice of Sale and Bidding [nstructions. We agree to accept delivery of and make payment for the Bonds in immediately available funds in the Corporate Trust Division, MTrust Corp, N. A., Austin, Texas, not later than 10:00 AM, CST, on March 22, 1988, or thereafter on the date the Bonds are tendered for deHvery, pursuant to the terms set forth in the Notice of Sale and Bidding Instructions. The undersigned agrees to complete, execute, and deliver to the City, at least 6 business days prior to delivery of the Bonds, a certificate relating to the "issue price" of the Bonds in the form and to the effect attached to or accompanying the Notice of Sale and Bidding Instructions, with such changes thereto as may be acceptable to the City. Respectfully submitted, By Authorized Representative ACCEPTANCE CLAUSE The above and foregoing bid is hereby in all things accepted by the City of San Marcos, Texas, this the 17th day of February, 1988. ATTEST: Mayor City Secretary ********