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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WHEREAS, it is considered to be in the best interest of the City that the interest bearing Certificates be issued;therefor, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS5 TEXAS: Section 1. RECITALS, AMOUNT AND PURPOSE OF THE CERTIFICATES. The recitals set forth in the preamble hereof are incorporated herein and shall have the same force and effect as if set forth in this Section. The Certificates of the City of San Marcos, Texas (the "City") are hereby authorized to be issued and delivered in the aggregate principal amount of $32,700,000 for the purpose of paying contractual obligations incurred or to be incurred for : (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. Section 2. DESIGNATION, DATE, DENOMINATIONS, NUMBERS, AND MATURITIES OF CERTIFICATES. Each certificate issued pursuant to this Ordinance shall be designated: "CITY OF SAN MARCOS, TEXAS COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION, SERIES 2023C", and initially there shall be issued, sold, and delivered hereunder fully registered certificates, without interest coupons, dated August 23, 2023, in the denomination and principal amount hereinafter stated, numbered consecutively from R-1 upward (except the initial Certificate delivered to the Attorney General of the State of Texas which shall be numbered T-1), payable to the respective initial registered owners thereof (as designated in Section 12 hereof), or to the registered assignee or assignees of said Certificates or any portion or portions thereof (in each case, the "Registered Owner"), and the outstanding principal amount of the Certificates shall mature and be payable on August 15 in each of the years and in the principal amount, respectively, as set forth in the following schedule: PRINCIPAL PRINCIPAL YEAR AMOUNT YEAR AMOUNT 2024 2034 2025 2035 2026 2036 2027 2037 2028 2038 2029 2039 2030 2040 2031 2041 2032 2042 2033 2043 The term "Certificate" as used in this Ordinance shall mean and include collectively the Certificates initially issued and delivered pursuant to this Ordinance and all substitute SAN MARCOS\CTRCO2023C: Ordinance