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ORDINANCE NO. 2010 -63 ORDINANCE AUTHORIZING THE ISSUANCE OF CITY OF SAN MARCOS, TEXAS GENERAL OBLIGATION REFUNDING BONDS, SERIES 2010; APPROVING AN OFFICIAL STATEMENT, A PAYING AGENT/REGISTRAR AGREEMENT, A BOND PURCHASE AGREEMENT AND AN ESCROW AGREEMENT; ESTABLISHING THE PROCEDURES FOR SELLING AND DELIVERING THE BONDS; AND AUTHORIZING OTHER MATTERS RELATING TO THE BONDS THE STATE OF TEXAS § COUNTIES OF HAYS AND CALDWELL § CITY OF SAN MARCOS § WHEREAS, the City of San Marcos, Texas (the "City ") has previously issued several series of obligations payable from ad valorem taxes: City of San Marcos, Texas Combination Tax and Revenue Certificates of Obligation, Series 2001 (the "Series 2001 Certificates "); City of San Marcos, Texas Combination Tax and Revenue Certificates of Obligation, Series 2002 (the "Series 2002 Certificates "); City of San Marcos, Texas Combination Tax and Revenue Certificates of Obligation, Series 2003 (the "Series 2003 Certificates "); City of San Marcos, Texas Waterworks and Waste Water System Revenue Bonds, Series 2003 (the "Series 2003 Bonds "); and WHEREAS, the City Council of the City deems it advisable and in the best interest of the City to refund the Refunded Obligations, as defined in Exhibit "A" attached hereto, in order to achieve a net present value debt service savings of not less than 3.0% of the principal amount of the Refunded Obligations net of any City contribution with such savings, among other information and terms to be included in a pricing certificate to be executed by the Interim City Manager, acting as the designated pricing officer of the City, or, in the absence of the Interim City Manager, the Director of Finance, all in accordance with the provisions of Chapter 1207, including 1207.007, of the Texas Government Code thereof, and San Marcos GORB 2010 - Delegated: Ordinance