Ord 2023-052 authorizing the issuance and sale of an amount not to exceed $32,700,000 of Combination Tax and Revenue Certificates of Obligation, Series 2023C, levying an ad valorem tax and pledging certain surplus revenues in support of the certificates

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ORDINANCE NO. 2023-52 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, AUTHORIZING THE ISSUANCE AND SALE OF AN AMOUNT NOT TO EXCEED $32,700,000 OF COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2023C, LEVYING AN AD VALOREM TAX AND PLEDGING CERTAIN SURPLUS REVENUES IN SUPPORT OF THE CERTIFICATES; APPROVING AN OFFICIAL STATEMENT, A PAYING AGENT/REGISTRAR AGREEMENT FOR THE CITY'S WATER AND WASTE WATER SYSTEM; STREETS AND TRANSPORTATION FACILITIES; AIRPORT; TECHNOLOGY INFRASTRUCTURE AND FACILITIES; PUBLIC SAFETY FACILITIES STORMWATER MANAGEMENT SYSTEM; AND, ELECTRIC UTILITY SYSTEM; AND 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 THE RETO WHEREAS, the City Council of the City of San Marcos, Texas (the "City") deems it advisable to issue certificates of obligation in the amount of$32,700,000 (the "Certificates") for the purpose of paying contractual obligations incurred or to be incurred : (1) water and waste water system; (2) streets and transportation including related drainage, sidewalks, traffic improvements, parking and lighting; (3) airport; (4) City parks, and recreation facilities and improvements; (5) technology infrastructure and facilities; (6) public safety facilities and equipment to include fire station and fire training facility improvements, including land for a new fire station; (7) stormwater management, drainage and flood control facilities; (8) electric utility system the conversion of existing overhead infrastructure to underground; and (9) payment of professional services in connection therewith including legal, engineering, architectural and fiscal fees and the costs of issuing the Certificates; and WHEREAS, the Certificates hereinafter authorized and designated are to be issued and delivered for cash pursuant to Subchapter C of Chapter 271, Local Government Code and Chapter 1502, Texas Government Code, as amended; and WHEREAS, on June 6, 2023 the City Council passed a resolution authorizing and directing the City Cleric to give notice of intention to issue the Certificates; and WHEREAS, the notice was published on June 13, 2023 and June 20, 2023 in the San Marcos Daily Record, a newspaper of general circulation in the City and a "newspaper" as defined in Section 2051.044, Government Code; and WHEREAS, the City has not received a valid petition from the qualified voters of the City protesting the issuance of the Certificates; and WHEREAS, it is hereby officially found and determined that the meeting at which this Ordinance was passed was open to the public, and public notice of the time,place and purpose of the meeting was given, all as required by Chapter 551, Texas Government Code; and SAN MARCOS\CTRCO2023C: Ordinance