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<br />~ <br />oJ <br />w.g <br />-.J --- <br />- <br />U-} <br /> <br />o 0 <br />o ~ <br />~ ~E '<0 <br />~ ~~ ~~ <br />UJ ~ ORDINANCE NO. en -< <br />0':> -l cillO <br />Ocu <br />Q ~ ~ ORDINANCE OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, ~ ::;; <br />~ GtRTTHORIZING THE ISSUAJ.~CE AJ.~D SALE OF CITY OF SAN MARCOS, TEXAS, ~ ~ <br />;:?E W'ATERWORKS AND WASTE W ATERSYSTEMREVENUE REFUNDING BONDS, SERIES 2005; g <br />bELEGATING AUTHORITY TO SELECT OUTSTANDING OBLIGATIONS TO BE REFUNDED (f) <br />AND TO APPROVE FINAL TERMS OF THE BONDS; PROVIDING FOR THE SECURITY FOR <br />AND PAYMENT OF THE BONDS; PRESCRIBING THE FORM OF THE BONDS; A WARDING <br />THE SALE THEREOF; APPROVING AN OFFICIAL STATEMENT; CALLING CERTAIN <br />OBLIGATIONS FOR REDEMPTION; A.1~D ENACTING OTHER PROVISIONS RELATING TO <br />THE SUBJECT <br /> <br />s:: ~ <br />1> <br />;:0 <br />I-l q <br />Q1 0 <br />'0 <br />f'.,.) 0 <br />~ <br />= r <br />= <br />'...11 <br /> !: <br /> <br />WHEREAS, there are presently outstanding, among other obligations of the City of San Marcos, <br />Texas (the "City") secured by and payable from a lien on and pledge of the net revenues of the City's <br />waterworks and sewer system, the obligations ofthe City (the "Eligible Obligations"), maturing on the dates <br />and in the principal amounts, bearing interest at the rates per annum, and subject to redemption prior to <br />maturity at the option of the City on the respective Redemption Date and at the respective Redemption Price, <br />set forth in Schedule I attached hereto and incorporated herein by reference; <br /> <br />WHEREAS, the City desires to authorize the refunding of all or a portion of the Eligible Obligations <br />and to delegate the authority to select the specific maturities of such obligations to be refunded with proceeds <br />of the Bonds authorized by this Ordinance (the "Refunded Obligations") and effect the sale of such bonds, <br />pursuant to the provisions of Tex. Gov't Code Ann. 91207.007, as hereinafter provided; <br /> <br />WHEREAS, it is further found and detennined that the Refunded Obligations should be refunded <br />by the issuance of refunding bonds pursuant to this Ordinance and in accordance with the genera11aws of <br />the State of Texas, particularly Tex. Gov't Code Ann. ch. 1207, as amended; <br /> <br />WHEREAS, it is further found and determined that the issuance ofthe Bonds to refund the Refunded <br />Obligations will achieve a gross debt service savings and a present value debt service savings to the City and <br />its ratepayers and is in the best interest and a public purpose ofthe City; and <br /> <br />WHEREAS, it is officially found, detennined and declared that the meeting at which this Ordinance <br />has been adopted was open to the public, and public notice of the date, hour, place and subject of said <br />meeting, inclUding this Ordinance, was given, all as required by the applicable provisions of Tex. Gov't Code <br />Ann. ch. 551; Now, Therefore <br /> <br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS: <br /> <br />ARTICLE I <br /> <br />DEFINITIONS AND OTHER PRELIMINARY MA1TERS <br /> <br />Section 1.01. Definitions. <br /> <br />Unless otherwise expressly provided or unless the context clearly requires otherwise, in this <br />Ordinance the following terms shall have the meanings specified below: <br /> <br />"Additional Parity Obligations" means those obligations the City reserves the right to issue on a <br />parity with the Bonds, herein authorized in accordance with the terms and conditions prescribed in Section <br />9.01 hereof. <br /> <br />R:\Stm Mflrcos\WWWWRfd.OS\Doclio\OrdinI1Jlce\Ord Finn1.wpd <br />