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<br />This Official Statement does not constitute an offer to sell Bonds in any jurisdiction to any person to whom it is unlawful to
<br />make such offer in such jurisdiction. No dealer, salesman, or any other person has been authorized to give any information or
<br />make any representation, other than those contained herein, in connection with the offering of these Bonds, and if given or
<br />made, such information or representation must not be relied upon. The information and expressions of opinion herein are subject
<br />to change without notice and neither the delivery of this Official Statement nor any sale made hereunder shall, under any
<br />circumstances, create any implication that there has been no change in the affairs of the City since the date hereof.
<br />
<br />OPFICIAL ST A TEMEHT
<br />
<br />Dated January 2.5, 1988
<br />
<br />In the opinion of Bond Counsel, interest on the Bonds will be excludable from gross income for
<br />purposes of federal income taxation under existing law. See "Tax Exemption" herein for a
<br />discussion of Bond Counsel's opinion, including a description of the alternative minimum tax.
<br />
<br />THE CITY WILL DESIGNATE THE BONDS AS
<br />"QUALIFIED TAX-EXEMPT OBLIGATIONS"
<br />FOR FINANCIAL INSTITUTIONS.
<br />
<br />$1,320,000
<br />CITY OF SAN MARCOS, TEXAS
<br />(Hays County)
<br />
<br />WATERWORKS AND SEWER SYSTEM REVENUE BONDS, SERIES 1988
<br />
<br />Dated: February I, 1988 (the "Bond Date")
<br />
<br />Due: January 1, as shown below
<br />
<br />These bonds (the "Bonds" or "Bono'", which shall include for purposes of definition, the Initial Bond and the
<br />definitive Bonds) have been authorized at an election held April 7, 1984, and constitute direct and voted
<br />special obligations of the City, payable from and secured by an irrevocable first lien on and pledge of the
<br />net revenues of the City's Waterworks and Sewer System, as provided in the ordinance authorizing the
<br />Bonds (the "Ordinance").
<br />
<br />Interest on the Bonds will be payable July 1 and January 1 of each year, commencing January 1, 1989.
<br />The definitive Bonds will be issued only in fully registered form in any integral multiple of $.5,000 for any
<br />one maturity. Principal of the Bonds will be payable to the registered holder or owner (the "Holder" or
<br />"Owner") at maturity or redemption upon presentation at the principal corporate office of the paying
<br />agent/registrar (the "Paying Agent/Registrar"), initially MTrust Corp, N. A., Austin, Texas. Interest on
<br />the Bonds will be payable by check, dated as of the interest payment date, and mailed by the Paying
<br />A gent/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" herein), or by such other method, acceptable to the
<br />Paying Agent/Registrar, requested by, and at the risk and expense of, the Holder. If the date for the
<br />payment of the principal of or interest on this Bond shall be a Saturday, Sunday, a legal holiday, or a day
<br />on which banking institutions in the city where the Paying Agent/Registrar is located are authorized by
<br />law or executive order to dose, then the date for such payment shall be the next succeeding day which is
<br />not such a Saturday, Sunday, legal holiday, or day on which banking institutions are authorized to dose;
<br />and payment on such date shall have the same force and effect as if made on the original date payment
<br />was due.
<br />
<br /> MA TURITY SCHEDULE
<br />Amount Maturity ß!!!: ~ Amount Maturity ~ ~
<br />$20,000 1-1-1990 $100,000 1-1-1998
<br />.50,000 1-1-1991 100,000 1-1-1999*
<br />.50,000 1-1-1992 100,000 1-1-2000*
<br />.50,000 1-1-1993 100,000 1-1-2001*
<br />.50,000 1-1-1994 100,000 1-1-2002*
<br />.50,000 1-1-199.5 100,000 1-1-2003*
<br />7.5,000 1-1-1996 1.50,000 1-1-2004*
<br />7.5,000 1-1-1997 1.50,000 1-1-200.5*
<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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