Res 1985-031 - Laserfiche WebLink

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This Official Statement does not constitute an offer to sell Bonds in any jurisdiction to any person to whom it is unlawful to make such offer in such jurisdiction. No dealer. salesman. or any other person has been authorized to give any information or make. any representation. other than those contained herein. in connection with the offering of these Bonds. and if given or made. such information or representation must not be relied upon. The information and expressions of opinion herein are subject to change without notice and neither the delivery of this Official Statement nor any sale made hereunder shall, under any circumstances. create any implication that there has been no change in the affairs of the City since the date hereof. OFFICIAL STATEMENT Dated Apriì 8, 1985 INTEREST EXEMPT, IN THE OPINION OF BOND COUNSEL, FROM PRESENT FEDERAL INCOME TAXES $3.020.000 CIT'( OF SAN MARCOS, TEXAS (Hays County) GENERAL OBLIGATION TAX BONDS. SERIES 1985 Dated: June 1.1985 (the "Bond Date") Due: August 1. as shown below Interest on the Bonds will be payable February 1 and August 1 of each year commencing February 1. 1986. The Bonds will be issued only in fully registered form in any integral multiple of $5.000 for anyone maturity. Principal of the Bonds will be payable to the registered holder or owner (the "Holder" or "Owner") at maturity or redemption upon presentation at the principal corporate office of MBank, Austin, Texas, the paying agent/registrar (the "Paying Agent! Registrar"). Interest on the Bonds will be payable by check. dated as of the interest payment date, and mailed by the Paying Agent/Registrar to registered Holders as shown on the records of the Paying Agent/Registrar on the Record Date (see "Record Date for Interest Payment" herei n). These bonds (the "Bonds") are the first installment of the bonds authorized at an election held April 7.1984, and constitute direct and voted general obligations of the City, payable from an ad valorem tax levied, within the limits prescribed by law, on taxable property located within the City. MATURITY SCHEDULE Amount Maturity Rate Yield Amount Maturity Rate Yield S 70,000 8-1-1986 $155.000 8-1-1995 75,000 8-1-1987 170,000 8-1-1996* 80,000 8-1-1988 190,000 8-1-1997* 90.000 8-1-1989 205.000 8-1-1998* lDO,OOO 8-1-1990 230,000 8-1-1999* 11 0 ,000 8- ì -1991 250,000 8-1-2000* 120,000 8-1-1992 275,000 8-1-2001* 130,000 8-1-1993 300.000 8-1-2002* 145,000 8-1-1994 325.000 8-1-2003* * The City reserves the right. at its option. to redeem Bonds maturing August 1,1996. through August 1,2003, both inclusive, in whole or any part thereof, on August 1, 1995, or any interest payment date thereafter. at the par value thereof plus accrued interest to the date fixed for redemption. If less than all of the Bonds are to be redeemed by the City, the City shall determine the maturity or maturities and the amounts thereof to be redeemed and shall direct the Paying Agent/Registrar to call by lot Bonds, or portions thereof, within such maturity or maturities and in such principal amounts, for redemption. Not less than 30 days prior to a redemption date for the Bonds, the City shall cause a notice of redemption to be sent by United States mail, first class. postage prepaid, to each Holder of a Bond to be redeemed, in whole or in part, at the address of the Holder appearing on the registration books of the Paying Agent/ Registrar at the time such notice of redemption is mailed. Payment Record: The City has never defaulted. Legal ity: Attorney General of the State of Texas, and Mr. Rick P. Fisher, Austin, 7exas. (Opinion Printed on the Bonds; See Legal Opinions.) Delivery: Anticipated on ar about June 17, 1985.