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OFFICIAL NOTICE OF SALE $500,000 CITY OF SAN ~~RCOS. TEXAS GENERAL OBLIGATION BONDS. SERIES 1968-A Monday. February 260 19680 at 7:30 p.m. C,S,T, Selling: PLACE AND TIME OF SALE: Ie City Council of San Marcoso Texas, will receive sealed bids up to . 30 p.m~o C,S.T" on the 26th day of Februaryo 1968, in the Council Room at the C1 ty Hall p San Marcos 0 Texas; at which time and place all bids will be publicly opened and read for the purchase of all of the hereinafter de- scribed bonds of the City. BONDS TO BE SOLD: $5000000 City of San Marcos. Texas, General Obligation Bonds 0 Series 1968-A. These bonds are to be dated March 1, 1968, with interest payable on March I, 1969, and semiannually thereafter on September 1. and March I, each year, Denomination $S 0000 0 principal and interest payable at The American National Bank of Austino Austin, Texas. This issue of bonds will mature on March 1 each year as follows: $50,000 each year during the years 1981 through 1990 inclusive. Bonds maturing on March 10 1986 through March I, 1990 inclusive are optional for prior redemption on March 1, 1985 or on any interest pay- ment date thereafter 0 at par and accrued interest. ADDRESS OF BIDS: Sealed bids plainly marked "Bid for Bonds" should be addressed to the "Mayor and City Council, City Hall P, 0, Box 725, San Marcos. Texas 78666," DDING CONDITIONS: 1 bids must be submitted on the "Official Bid Form" without alteration, pies of which are attached to this notice, Bidders are requested to specify the interest rate or rates the bonds are to bear, and not more than four (4) coupon rates nor three (3) changes may be named, with no rate to exceed 5 1/2%. Each rate specified shall be expressed in multiples of 1/8 or 1/20 of 1%, No interest rate bid may be more than two times the lowest rate named in the bid. Each bidder must specify in his bid the amoWlt and the maturities of the bonds of each interest rate, and all bonds maturing on the same date must bear interest at the same rate, The interest on any bond payable on any interest payment date Shall be represented by a single coupon, No bid of less than par and accrued interest from March 10 1968, or for less than all of the bonds offered will be entertained. BASIS OF AWARD: The bonds will be awarded to the bidder offering to purchase the bonds at the lowest interest cost to the city, such cost to be determined by deducting the amount of any premium bid from the aggregate amount of interest upon all of the bonds from March 1, 19680 until their respective maturities, In case of error in the net interest cost calcu1ationso coupons will govern. Unless all bids are rejectedp the award of the bonds will be made immediately to Ie successful bidder. OD FAITH DEPOSIT: Each bid must be accompained by a certified or bank cashier's or treasurer%; check upon an incorporated bank or trust company in the amount of $100000, payab Ie uncondi tionally to the orde r of the City of San /!larcos i Texas. on which no interest will be allowed, The check of the successful bidder will be held uncashed as security for the performance of his bid, In the event that the successful bidder shall fail to comply with the terms of his bid, the check may then be cashed and the proceeds thereof retained as and for full liquidated damages. If for any reason delivery cannot be made within the spe- cified time 0 the purchaser Shall have the refusal of the bonds for the next succeeding thirty (30) days on the same terms, 01'0 at his option, the good faith check will be returned and both the City and purchaser will be relieved of fl}rther obligation. T~ crecks of the unsuccessful bidders will be returned ~mmed1ately.