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<br /> INTRODUCTORY STATEMENT <br /> This Official Statement of the City of San Marcos. Texas, a political subdivision located in <br /> Hays County (the "City"), is provided to furni sh i nformati on in connection wi th the sal e of <br /> the City's $3,020,000 General Obligation Tax Bonds, Series 1985 (the "Bonds"). <br /> The Official Statement was prepared to present for the purchaser of the Bonds information <br /> concerning the Bonds, the revenues pledged to the Bonds, the description of the revenue <br /> base. factors that may affect pledged revenues, and other oertinent data, all as more fully <br /> described herein. See "Table of Contents", <br /> Source of Payment ... The Bonds are direct and voted general obligations payable from the <br /> receipts of an ad valorem tax levied, within the limits prescribed by law, on taxable property <br /> located within the City, as provided in the Ordinance authorizing the Bonds. <br /> Purpose ... Proceeds from the sale of the Bonds will be used for various improvements within <br /> the City. to wit: <br /> Streets and Drainage $ 2,050.000 <br /> Parks and Recreation 250,000 <br /> Traffic Lights 150,000 <br /> Public Works Complex 570,000 <br /> Total Estimated Costs $ 3.020.000 <br /> Future General ObliQation Debt ... After the issuance of the Bonds. the City will have <br /> 53.080,000 authorized general obligation bonds to be issued. The City plans on issuing <br /> the remaining 53,080,000 in two years to fund the City's third and fourth year of their <br /> capital improvement program. <br /> Administration of the City,.. The City operates under a Home Rule Charter which was approved <br /> by the electorate February 24,1967. The Charter provides for the Council~~anager form of <br /> government for the City. Policy-making and supervisory functions are the responsibility of <br /> and vested in the Mayor and City Council. <br /> -5- <br />