Res 2022-109R/authorizing proceeding with issuance of Certificates of Obligation and and equip stormwater management and flood control facilities, and electric utility system in amount $26,135,000.

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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 6:00 P.M. on July 5, 2022 (the "meeting"), 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 $26,135,000 for paying contractual obligations incurred in connection with constructing, improving, designing, acquiring, including acquiring land, easements and right of way, and equipping the City's: (1) water and waste water system, including an elevated storage tank and extending/upgrading water and wastewater lines; (2) streets including related drainage, sidewalks, traffic improvements and lighting; (3) airport; (4) public safety facilities and equipment to include police and fire improvements, including acquisition of vehicles and a fire engine; (5) stormwater management and flood control facilities; (6) electric utility system, including an additional circuit; and (7) the payment of professional services in connection therewith including legal, fiscal and engineering fees and the costs of issuing the certificates of obligation and other matters related thereto. 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. Due to the ongoing public health concerns regarding the COVID 19 virus, and as may be authorized by Executive Order of the Governor of Texas, such meeting on July 5, 2022 may be conducted via a free public video conference or other lawful electronic means. In such event, information regarding how to access the meeting and public participation in the meeting will be available on the City's website and in the agenda posted no less than 72 hours before the July 5, 2022 meeting at the following internet address: https://www.sanmarcostx.gov/AgendaCenter The following information is required pursuant to Texas Local Government Code, Section 271.049(b)(4): As of May 17, 2022, principal of all outstanding debt obligations of the City is $400,955,000. As of May 17, 2022, combined principal and interest required to pay all outstanding debt obligations of the City on time and in full is $504,1.83,124.25. The maximum principal amount of the Certificates to be authorized is $26,135,000. The estimated combined principal and interest required to pay the Certificates to be authorized on time and in full is $38,889,246.67. The maximum interest rate for the Certificates may not exceed the maximum legal interest rate. The maximum maturity date of the Certificates to be author'zed is August 15, 2047. e Hug son Mayor, City of San Marcos, Texas SmMarcosCTRCO2022.Intent Resolution