Res 2014-045/Directing publication of notice of intention to issue certificates of obligation

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NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION NOTICE IS HEREBY GIVEN that the City Council of the City of San Marcos, Texas (the "City "), at its meeting to commence at 7:00 P.M. on May 20, 2014, at its regular meeting place in the City Hall, 630 East Hopkins, San Marcos, Texas, tentatively proposes to authorize the issuance of one or more series of interest bearing certificates of obligation of the City, in the total aggregate principal amount not to exceed $13,750,000, for the public purpose of paying contractual obligations incurred or to be incurred for: (1) constructing, improving, extending, expanding, upgrading and developing City streets, bridges, sidewalks, intersections and related traffic improvements including purchasing any necessary rights -of -way and equipment; (2) constructing and improving the City's drainage facilities; (3) constructing, improving and extending the City's water and waste water system; (4) constructing, improving and extending the City's electric system; and (5) the payment of professional services in connection therewith including legal, fiscal and engineering fees and the costs of issuing the certificates of obligation. The City presently proposes to provide for the payment of the certificates of obligation by the levy of ad valorem taxes, within the limits prescribed by law. The certificates of obligation will be additionally payable from a limited pledge of surplus revenues of the City's water and waste water system not to exceed $1,000. Sw Matms.l4.lntent Resolution