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WHEREAS, it is considered to be in the best interest of the City that the interest bearing
<br /> Certificates be issued; therefor,
<br /> BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS,
<br /> TEXAS:
<br /> Section 1. RECITALS, AMOUNT AND PURPOSE OF THE CERTIFICATES.
<br /> The recitals set forth in the preamble hereof are incorporated herein and shall have the same
<br /> force and effect as if set forth in this Section. The Certificates of the City of San Marcos, Texas
<br /> (the "City") are hereby authorized to be issued and delivered in the aggregate principal amount of
<br /> $37,065,000 for improving, constructing, equipping, acquiring, or designing the City's: (1)
<br /> airport; (2) cemetery; (3) parks and recreation facilities; (4) streets, alleys, and sidewalks; (5)
<br /> public safety facilities; (6) water and wastewater system; (7) stormwater management for flood
<br /> control and drainage; (8) electric utility system; and (9) the payment of professional services in
<br /> connection therewith including fiscal and engineering fees and the costs of issuing the
<br /> Certificates.
<br /> Section 2. DESIGNATION, DATE, DENOMINATIONS, NUMBERS, AND
<br /> MATURITIES OF CERTIFICATES. Each certificate issued pursuant to this Ordinance shall
<br /> be designated: "CITY OF SAN MARCOS, TEXAS COMBINATION TAX AND REVENUE
<br /> CERTIFICATES OF OBLIGATION, SERIES 2025" and initially there shall be issued, sold, and
<br /> delivered hereunder fully registered certificates, without interest coupons, dated May 7, 2025, in
<br /> the denomination and principal amount hereinafter stated, numbered consecutively from R-1
<br /> upward (except the initial Certificate delivered to the Attorney General of the State of Texas
<br /> which shall be numbered T-1), payable to the respective initial registered owners thereof (as
<br /> designated in Section 12 hereof), or to the registered assignee or assignees of said Certificates or
<br /> any portion or portions thereof (in each case, the "Registered Owner"), and the outstanding
<br /> principal amount of the Certificates shall mature and be payable on August 15 in each of the
<br /> years and in the principal amount, respectively, as set forth in the following schedule:
<br /> YEAR PRINCIPAL YEAR PRINCIPAL
<br /> AMOUNT AMOUNT
<br /> 2026 $ 75,000 2036 $ 2,030,000
<br /> 2027 190,000 2037 2,130,000
<br /> 2028 310,000 2038 2,240,000
<br /> 2029 1,090,000 2039 2,350,000
<br /> 2030 1,510,000 2040 2,445,000
<br /> 2031 1,590,000 2041 2,550,000
<br /> 2032 1,665,000 2042 2,660,000
<br /> 2033 1,750,000 2043 2,780,000
<br /> 2034 1,840,000 2044 2,900,000
<br /> 2035 1,930,000 2045 3,030,000
<br /> The term "Certificate" as used in this Ordinance shall mean and include collectively the
<br /> Certificates initially issued and delivered pursuant to this Ordinance and all substitute
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<br /> San Marcos I CTRCO 2025 1 Ordinance
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