Ord 2024-018 authorizing the issuance and sale of an amount not to exceed $31,100,000 of Combination Tax and Revenue Certificates of Obligation, Series 2024, levying an ad valorem tax and pledging certain surplus revenues

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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 MARCOS, 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 $31,100,000 for improving, constructing, equipping, acquiring, or designing the city's: (1) water and waste water system, including technology improvements; (2) streets; (3) sidewalks; (4) public safety facilities, including fire station improvements; (5) stormwater management for flood control and drainage; (6) electric utility system; and (7)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 2024", and initially there shall be issued, sold, . and delivered hereunder fully registered certificates, without interest coupons, dated May 8, 2024, 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 2025 2035 2026 2036 2027 2037 2028 2038 2029 2039 2030 2040 2031 2041 2032 2042 2033 2043 2034 2044 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 Certificates exchanged therefor, as well as all other substitute Certificates and replacement Certificates issued pursuant hereto. SAN n4ARCOS\27024 Ordinance