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Tuesday, March 5, 2019 <br />I. Call To Order <br />Meeting Minutes <br />City Council <br />3:00 PM <br />630 E. Hopkins - Work Session <br />630 East Hopkins <br />San Marcos, TX 78666 <br />City Hall Conference Room <br />With a quorum present, the work session meeting of the San Marcos City <br />Council was called to order by Mayor Hughson at 3:04 p.m. Tuesday, March 5, <br />2019 in the City Hall Conference Room, 630 E. Hopkins, San Marcos, <br />Texas 78666. <br />II. Roll Call <br />Council Member Rockeymoore arrived after roll call at 4:47 p.m. due to work <br />obligations. <br />Present: 7 - Mayor Pro Tem Lisa Prewitt, Council Member Saul Gonzales, Council Member <br />Melissa Derrick, Mayor Jane Hughson, Council Member Ed Mihalkanin, Council <br />Member Joca Marquez and Council Member Mark Rockeymoore <br />1. Receive Staff presentation, and hold discussion, regarding the approved Fiscal Year <br />2019 Capital Improvement Plan (CIP) Projects, as well as, an update on the issuance of <br />bonded debt in May 2019 to provide funding for the projects, and provide direction to <br />Staff. <br />Bert Lumbreras, City Manager, provided an overview and introduced Heather <br />Hurlbert, Director of Finance, who provided the Council with the Staff <br />presentation. He explained that this is ensure that the Council is familiar with <br />all of the Capital Improvement Projects that the Council will be asked to issue <br />Certificates of Obligation (CO) Bonds for in May of 2019. <br />Ms. Hurlbert provided a review of the Annual Capital Improvement Project <br />(CIP) process. She also reviewed the CIP and debt issuance timeline and <br />explained the CO issuance process. Ms. Hurlbert explained that CO bonds are <br />backed by the full faith and credit of the City. She explained that CO bonds <br />are tax supported debt and that debt payments for the CO bonds issued for the <br />Enterprise Funds will be paid from revenue generated by rates. She further <br />explained that there is no tax rate impact from these CO bonds. The debt <br />payments will be paid from existing capacity. The CO bond terms will range <br />from one year to twenty years with shorter life assets/studies funded with <br />shorter term bonds. Ms. Hurlbert stated that we are currently working with <br />City of San Marcos Page 1 <br />