Ord 2018-016/authorizing the issuance and sale of $47,065,000 City of San Marcos, Texas, Combination Tax And Revenue Certificates of Obligation, Series 2018

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ORDINANCE NO. 2018-16 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, AUTHORIZING THE ISSUANCE AND SALE OF CERTIFICATES OF OBLIGATION AND OTHER MATTERS RELATED THERETO WHEREAS, the City Council (the "City Council") of the City of San Marcos, Texas (the "City"), by resolution adopted on April 3, 2018, directed publication of notice (the "Notice") of the City's intention to issue a maximum principal amount not to exceed $47,065,000 certificates of obligation of the City for the purposes hereinafter set forth; WHEREAS, such notice was published in the manner and to the extent required by law; WHEREAS, there has not been filed with the City Secretary or any other officer of the City a petition protesting the issuance of such certificates of obligation and requesting an election on same; WHEREAS, the City Council has determined that it is in the best interest of the City to issue less than the maximum principal amount included in the Notice, as set for the herein; WHEREAS, the Issuer is an "Issuer" under Section 1371.001(4)(P), Texas Government Code, having (i) a principal amount of at least $100 million in outstanding long-term indebtedness, in long-term indebtedness proposed to be issued, or a combination of outstanding or proposed long-term indebtedness and (ii) some amount of long-term indebtedness outstanding or proposed to be issued that is rated in one of the four highest rating categories for long-term debt instruments by a nationally recognized rating agency for municipal securities, without regard to the effect of any credit agreement or other form of credit enhancement entered into in connection with the obligation; WHEREAS, it is affirmatively found and determined that the City is authorized to proceed with the issuance and sale of such certificates of obligation as authorized by the Constitution and laws of the State of Texas, including, particularly, Tex. Loc. Gov't Code Ann. ch. 271, subch. C, and Tex. Gov't Code Ch. 1502, as amended; and WHEREAS, it is officially found, determined and declared that the meeting at which this Ordinance has been adopted was open to the public and public notice of the date, hour, place and subject of said meeting, including this Ordinance, was given, all as required by the applicable provisions of Tex. Gov't Code Ann. ch. 551;Now, Therefore BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS: ARTICLE I DEFINITIONS AND OTHER PRELIMINARY MATTERS Section 1.01. Definitions. 4