Res 2016-048/Intent to Publish Notice for CO Bond Issuance

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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 17, 2016, 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 $48,900,000, 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, parking, related traffic improvements and transportation facilities including purchasing any necessary rights-of-way and equipment; (2) constructing, improving and extending the City's electric utility system; (3) acquiring, constructing, designing, equipping and renovating city park facilities and buildings; (4) constructing and improving the City's drainage facilities; (5) constructing, improving and extending the City's water and waste water system; (6) constructing and improving the City's airport; (7) acquiring, constructing, designing, equipping and renovating public safety improvements, including relocation of fire stations; and(8) 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 wastewater system not to exceed $1,000.