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<br />OFFICIAL BID FORM
<br />
<br />Honorable Mayor and City CounCIl
<br />City of San Marcos, Texas
<br />
<br />;'IJoven:bcr 14, 1988
<br />
<br />Councilmembers:
<br />
<br />Reference is made to your Official Statement and ;-'¡otice of Sale and Biddin¡; Instruc1ions, doted
<br />November 1, 1988, of $2,660,000 CITY OF SAN .\;\ARCOS, TEXAS WATER\\'ORKS AND SEWER SYSTE.\1
<br />REVENUE BONDS, SERIES 1938A, both of which constitute a part hereof.
<br />
<br />For your legaJly issued Bonds, as described in said Notice of Sale and Bidding Instructions and OffidaJ
<br />Statement, we wilJ pay you par and accrued interest from date of issue to date of delivery to us, plus a
<br />cash premium of $ for Bonds maturing and bearing interest as follows:
<br />
<br /> PrincipaJ Interest PrinclpaJ Interest
<br />Maturity Amount Rate ¡\latIJrity Amount Rate
<br />1-1-1990 $ 10,000 % l-I-J998 $J20,OOO %
<br />J-J-199J 45,000 % J-J-1999 130,000 %
<br />1-1-1992 65,000 % J-1-2000 145,000 %
<br />J-J-1993 70,000 % 1-1-2001 165,000 %
<br />1-1-1994 95,000 % 1-1-2002 195,000 %
<br />1-1-1995 100,000 % J-I-2003 200,000 %
<br />1-1-1996 100,000 % 1-1-2004 350,000 %
<br />1-1-1997 J20,OOO % J-I-2005 750,000 %
<br />
<br />Our calculation (which 15 not a part of this bid) of the interest cost from the above is:
<br />
<br />Total Interest Cost
<br />Less Premium
<br />NET INTEREST COST
<br />EFFECTIVE INTEREST RATE
<br />
<br />$
<br />$
<br />
<br />%
<br />
<br />We are having the Bonds of the following maturities
<br />at a premium of $
<br />the Purchaser to rating agencies).
<br />
<br />The Initial Bond shaH be registered in the name of . We will advise
<br />Ms. Marcia Southworth, Trust Division, FIrst City NationaJ Bank of Austin, P. O. Box 2127, Austin, Texas
<br />78768 (5 I 2 473-4821), the Paying Agent/Registrar, our registration instructions at Jeast five business days
<br />prior to the date set for Initial Delivery.
<br />
<br />insured by
<br />(excluding any fees to be paid by
<br />
<br />A Cashier's Check of the Bank, , in the amount
<br />of $53,200.00 which represents our Good Faith Deposit (is attached hereto) or (has been made availablè to
<br />you prior to the opening of this bid), and is submitted in accordance with the terms as set forth in the
<br />Official Statement and Notice of Sale and Bidding Instructions.
<br />
<br />We agree to accept delivery of and make payment for the Bonds in immediately available funds in the
<br />Trust Division, First City National Bank of Austin, Texas, not later than JO:OO AM, CST, on
<br />January 5, 1989, or thereafter on the date the Bonds are tendered for delivery, pursuant to the terms set
<br />forth in the Notice of Sale and Bidding Instructions.
<br />
<br />The undersigned agrees to complete, execute, and deliver to the City, at least six business days prior to
<br />delivery of the Bonds, a certificate relating to the "issue price" of the Bonds in the form and to the effect
<br />accompanying the Notice of Sale and Bidding Instructions, with such changes thereto as may be
<br />acceptable to the City.
<br />
<br />Respectfully submitted,
<br />
<br />By
<br />
<br />Authorized Representative
<br />
<br />ACCEPTANCE CLAUSE
<br />
<br />The above and foregoing bid is hereby in all things accepted by the City of San .\larcos, Texas, this the
<br />14th day of November, 1988.
<br />
<br />\Iayor
<br />City of San Marcos, Texas
<br />
<br />ATTEST:
<br />
<br />City Secretary
<br />
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