Res 2025-028 authorizing certificates of oblgation for certain projects for the city's : airport, cemetery, parks and recreation facilities, streets, alleys and sidewalks in an amount not to exceed $47,805,000.

Home Browse Search

RESOLUTION NO. 2025-28 RESOLUTION AUTHORIZING PROCEEDING WITH ISSUANCE OF CERTIFICATES OF OBLIGATION AND FURTHER DIRECTING THE PUBLICATION OF NOTICE OF INTENTION TO ISSUE CITY OF SAN MARCOS, TEXAS COMBINATION TAX AND REVENUE CERTIFICATES OF OBLIGATION FOR CERTAIN PROJECTS FOR IMPROVING, CONSTRUCTING, EQUIPPING, ACQUIRING, OR DESIGNING THE CITY'S: AIRPORT, CEMETERY, PARKS AND RECREATION FACILITIES, STREETS, ALLEYS, AND SIDEWALKS, PUBLIC SAFETY FACILITES, WATER AND WASTEWATER SYSTEM; STORMWATER MANAGEMENT FOR FLOOD CONTROL AND DRAINAGE; ELECTRIC UTILITY SYSTEM; AND THE PAYMENT OF PROFESSIONAL SERVICES IN CONNECTION THEREWITH INCLUDING FISCAL AND ENGINEERING FEES AND THE COSTS OF ISSUING THE CERTIFICATES OF OBLIGATION RELATED THERETO IN AN AMOUNT NOT TO EXCEED $47,805,000. WHEREAS, this City Council deems it advisable to give notice of intention to issue certificates of obligation of the City of San Marcos, Texas (the "City"), as hereinafter provided; and WHEREAS,prior to the issuance of the Certificates,the City Council is required pursuant to the provisions of the Certificate of Obligation Act of 1971, Section 271.041 et seq., Local Government Code, as amended (the "Act"), to publish notice of its intention to issue the Certificates in a newspaper of general circulation in the City and continuously on the City's website, the notice stating: (i) the time and place tentatively set for the passage of the ordinance authorizing the issuance of the Certificates, (ii) the purpose of the Certificates to be authorized; and (iii) the manner in which the Certificates will be paid; (iv) the then-current principal of all outstanding debt obligations of the issuer; (v) the then-current combined principal and interest required to pay all outstanding debt obligations of the issuer on time and in full; (vi)the maximum principal amount of the certificates to be authorized; (vii) the estimated combined principal and interest required to pay the certificates to be authorized on time and in full; (viii) the estimated interest rate for the certificates to be authorized or that the maximum interest rate for the certificates may not exceed the maximum legal interest rate; and (ix) the maximum maturity date of the certificates to be authorized. WHEREAS, it is officially found and determined that the meeting at which this resolution has been considered and acted upon was open to the public and public notice of the time, place and subject of said meeting was given, all as required by Chapter 551, Texas Government Code, as amended;Now, Therefore BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS: SanMarcos.CTRCO2025.Intent ResolutionA