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WHEREAS, the Bonds are being sold to the Texas Water Development Board and there <br />are no sale and offering documents, as defined in the Contract, to be presented to the City for <br />review and approval; however, a private placement memorandum has been submitted to the City <br />for review and approval; and <br />WHEREAS, it is hereby further officially found and determined that public notice of the <br />time, place, and purpose of this meeting was given, all as required by Texas Government Code, <br />Chapter 551. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF SAN MARCOS, TEXAS: <br />SECTION 1. RECITALS. The recitals set forth in the preamble hereof are incorporated <br />herein and shall have the same force and effect as if set forth in this Section. Capitalized terms <br />used herein shall have the meaning assigned in the preamble hereof or the Contract, unless <br />otherwise defined. <br />SECTION 2. BOND RESOLUTION. The City Council hereby approves the Authority <br />issuing contract revenue bonds for the City in the aggregate principal amount of $43,955,000 <br />including approval of the Bonds Resolution and other related matters in accordance with the <br />Contract. The Bond Resolution in substantially the form attached hereto as Exhibit "A" is hereby <br />approved with such changes as approved by the City's Authorized Representative. <br />SECTION 3. CERTIFICATES. The City's Authorized Representative is hereby <br />authorized to sign the Approval Certificate attached hereto as Exhibit "B" reflecting the final <br />interest rates and terms of the Bonds. The Mayor, City Clerk, City Manager and Assistant City <br />Manager are each authorized to sign all certificates and are hereby authorized and directed to do <br />any and all things necessary and/or convenient to carry out the terms of this Resolution and the <br />issuance of the Bonds as requested by the City. <br />SECTION 4. ANNUAL AUDIT. Within 180 days after the City's fiscal year end, the <br />City shall provide the Authority a copy of its annual audit. <br />SECTION 5. IMMEDIATE EFFECT. This Resolution shall take effect immediately <br />from and after its adoption in accordance with the law. <br />ARWA\2020C: ResApprovingResSanMareos <br />