Res 1985-111 - Laserfiche WebLink

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This Limited Offering t1emorandum 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 Limited Offering Memorandum 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. LIMITED OFFERING MEMORANDUM Dated November 25~ 1985 INTEREST EXEMPT, IN THE OPINION OF BOND COUNSEL~ FROM PRESENT FEDERAL INCOME TAXES $730,000 CITY OF SAN MARCOS, TEXAS (Hays County) COMBINATION TAX AND REVENUE REFUNDING BONDS, SERIES 1985 Dated: December 1 ~ 1985 Due: August 1 ~ as shown below These Bonds are secured by a limited ad valorem tax and a lien on the net revenues of the Waterworks and Sewer System, subordinate to outstanding Revenue Bonds Series 1968 and Series 1984. lnterest on the Bonds will be payable February 1 and August 1 of each year, commencing \ugust 1 ~ 1986. The definitive Bonds will be issued only in fully registered form in lny 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 the paying agent/ registrar (the "Paying Agent/Registrar"), initially MBank Austin~ N.A.~ Austin, Texas. 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" herein)~ or by such other method, acceptable to the Paying Agent/Registrar~ requested by, and at the risk and expense of, the Holder. MATURITY SCHEDULE Amount Maturity Rate Yield $125~000 8-1-86 8.00% 135,000 8-1-87 8.00% 145,000 8-1-88 6.30% 155,000 8-1-89 6.70% 170,000 8-1-90 7.00% The Bonds are not optional for prior payment. Payment Record: The City has never defaulted. Lega 1 ity: Attorney General of the State of Texas, and Messrs. Hutchison Price Bo le & 8rooks~ Attorne s~ Dallas, Texas. Opinion Printed onthe Bonds; See Legal Opinions. Delivery: Anti ci pa ted on or ~bout~ December 30, 1985