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<br />~ - <br />O~ g <br />~ c--J <br />~l <br />~ :z <br />< <br /> <br />I <br /> <br />I <br /> <br />(f) <br />o <br />~ ~ ORDINANCE NO. <br />D: Cll <br />l.U~ <br />~ ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, <br />>-MJ"THORIZING THE ISSUANCE AND SALE OFCITYOF SAN MARCOS, TEXAS, WATER AND <br />6WiASTE WATER SYSTEM REVENUE REFUNDING AND IMPROVEMENT BONDS, SERIES <br />2~4A; PROVIDING FOR THE SECURITY FOR AND PAYMENT OF SAID BONDS; <br />P\ttSCRIBING THE FORM OF SAID BONDS; AWARDING THE SALE THEREOF; APPROVING <br />THE OFFICIAL STATEMENT; AND ENACTING OTHER PROVISIONS RELATING TO THE <br />SUBJECT <br /> <br />WHEREAS, Tex. Gov't Code Ann. ch. 1502 provides that the governing body ofa municipality may <br />issue public securities for the purpose of providing funds to acquire, purchase, construct, improve, renovate, <br />enlarge, or equip property, buildings, structures, facilities, or other related infrastructure for a utility system, <br />and the City Council (the "City Council") of the City of San Marcos, Texas (the "City") finds and determines <br />that it is necessary, useful and appropriate for the City's public purposes to authorize and provide for the <br />issuance and sale of revenue bonds of the City for such purpose, as hereinafter provided; <br /> <br />WHEREAS, the City has previously issued, and there are presently outstanding, obligations of the <br />City secured by and payable from a lien on and pledge of the net revenues of the City's waterworks and <br />sewer system; <br /> <br />WHEREAS, certain of such previously issued and outstanding obligations are intended to be and <br />shall be refunded pursuant to this Ordinance, the obligations to be refunded being described in Schedule I <br />attached hereto and incorporated herein (collectively, the "Refunded Obligations"); <br /> <br />WHEREAS, this City Council hereby finds, determines and declares that the refunding of the <br />Refunded Obligations will result in a net present value debt service savings of$367,122.85 and an actual <br />debt service savings of $249,437.19 to the City; <br /> <br />WHEREAS, It is further found and determined that the Refunded Obligations should be refunded <br />by the issuance of refunding bonds pursuant to this Ordinance and in accordance with the general laws of <br />the State of Texas, particularly Tex. Gov't Code Ann. ch. 1207, as amended; <br /> <br />WHEREAS, it is officially found, determined and declared that the meeting at which this Ordinance <br />has been adopted was open to the publ ic, and publ ic notice of the date, hour, place and subject of said <br />meeting, includll1g this Ordinance, was given, all as required by the applicable provisions of Tex. Gov't Code <br />Ann ch 551; Now, Therefore <br /> <br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS: <br /> <br />ARTICLE I <br /> <br />DEFINITIONS AND OTHER PRELIMINARY MATTERS <br /> <br />Section 1.0] Definitions. <br /> <br />Unless otherWise expressly provided or unless the context clearly requires otherwise, 111 thiS <br />Ordinance the follOWing terms shall have the meanings specified below. <br /> <br />R SOli MarcoslWWSSRI 04A'Docs\Ordillance\WW Ord Filial wpd <br />