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ORDINANCE NO. 2012-___ ORDINANCE AUTHORIZING THE ISSUANCE OF CITY OF SAN MARCOS, TEXAS GENERAL OBLIGATION REFUNDING BONDS; APPROVING AN OFFICIAL STATEMENT, A PAYING AGENT/REGISTRAR AGREEMENT, A BOND PURCHASE AGREEMENT AND AN ESCROW AGREEMENT; ESTABLISHING THE PROCEDURES FOR SELLING AND DELIVERING ONE OR MORE SERIES OF THE BONDS; AND AUTHORIZING OTHER MATTERS RELATING TO THE BONDS THE STATE OF TEXAS§ COUNTIES OF HAYS, CALDWELL AND GUADALUPE§ CITY OF SAN MARCOS§ , the City of San Marcos, Texas (the "City") has previously issued several series WHEREAS of obligations payable from ad valorem taxes and waterworks and e water revenues; and , the City Council of the City deems it advisable and in the best interest of the WHEREAS City to refund the Refunded Obligations, as defined in Exhibit "A" attached hereto, in order to achieve a net present value debt service savings of not less than 3.0% of the principal amount of the Refunded Obligations net of any City contribution with such savi among other information and terms to be included in a pricing certificate to be executed by y Manager, acting as the designated pricing officer of the City, or, in the absence of thity Manager, the Director of Finance, all in accordance with the provisions of Chapter 1207, including07.007, of the Texas Government Code thereof; and , Chapter 1207, Texas Government Code, as amended ("Chapter 1207 WHEREAS authorizes the City to issue refunding bonds and to deposit the eeds from the sale thereof together with any other available funds or resources, directly with a place of payment (paying agent) for the Refunded Obligations or with a trust company or commercit does not act as depository for the City, and such deposit, if made before such pent dates, shall constitute the making of firm banking and financial arrangements for the dischage and final payment of the Refunded Obligations; and , Chapter 1207 further authorizes the City to enter into an escrow agreement WHEREAS with a paying agent for the Refunded Obligations or with a trustmpany or commercial bank that does not act as depository for the City with respect to the safeping, investment, reinvestment, administration and disposition of any such deposit, upon such te and conditions as the City and such escrow agent may agree, provided that such deposits may be invested and reinvested in Defeasance Securities, as defined herein; and 1 San Marcos GORB 2012 - Delegated: Ordinance