|
<br /> " '-::~7-;~ ~ 131)(3£.
<br /> / .~,;: '0:' ..¡:--=~
<br /> <,-' ..j~ OFFICIAL STATEMENT
<br /> i ,- A . -v
<br /> '~, ¡.oJ">, "~
<br /> '- ;:~~ "1, ,OJ
<br /> ,C; Qo~C;;. 7993 ..0> Dated May 10, 1993
<br /> NEW i.SSUF; -~Ò<t):EILtry-Op:ìy Ratings:
<br /> '$j """'., ~:'t- ;-l.'";Y c:; I Moody's: "Aaa"
<br /> - ,,- {" " .
<br /> 0';"-:-,..., t,\(' S&P: "AAA"
<br /> -, 0 '}:':, , (MBIA Insured- See "Bond
<br /> 0 '01" -' Information Bond
<br /> -
<br /> Insurance" and "Other
<br /> Information - Ratings"
<br /> herein)
<br /> In the opinion of Bond Counsel, interest on the Bonds will be excludable from gross income for federal income tax purposes under
<br /> existing law, subject to the matters described under "Tax Exemption" herein, including the alternative ,minimum tax on
<br /> - ' corporations.
<br /> $15,955,000
<br /> CITY OF SAN MARCOS, TEXAS
<br /> (Hays County)
<br /> ELECTRIC UTILITY SYSTEM REVENUE
<br /> REFUNDING BONDS, SERIES 1993
<br /> Dated: May 1, 1993 Due: November 1, as shown below
<br /> Interest on the $15,955,000 City of San Marcos, Texas Electric Utility System Revenue Refunding Bonds, Series 1993 (the
<br /> "Bonds"), will accrue from the dated date as shown above and will be payable May 1 and November I of each year, commencing
<br /> November 1, 1993, and will be calculated on the basis of a 360-day year of twelve 30-day months. The City of San Marcos,
<br /> Texas (the "City") intends to utilize the Book-Entry-Only System of The Depository Trust Company ("DTC"), but reserves the
<br /> right on its behalf or on the behalf of DTC to discontinue such system. Such Book-Entry-Only System will affect the method and
<br /> timing of payment and the method of transfer of beneficial ownership of the Bonds. See" Bond Information - Book-Entry-Only
<br /> System" herein.
<br /> The Bonds are issued pursuant to the Constitution and general laws of the State of Texas, particularly Article 717k, Vernon's
<br /> Annotated Texas Civil Statutes, as amended ("V A TCS"), and an ordinance (the "Ordinance") passed by the City Council of the
<br /> City, and are special obligations of the City payable, both as to principal and interest, solely fr°r;;}nd secured by a first lien on
<br /> and pledge of the Pledged Revenues of the City's Electric Utility System (the "System"). Pledg Revenues means (1) the Net
<br /> Revenues of the System (as defined in the Ordinance), plus (2) any additional revenues, income receipts, or other resources,
<br /> including without limitation, any grants, donations, or income received or to be received from the United States Government, or
<br /> any other public or private sources, whether pursuant to an agreement or otherwise, which hereafter may be pledged to the
<br /> payment of the Bonds or additional bonds issued on a parity with the Bonds. The City has not covenanted nor obligated itself
<br /> to pay the Bonds from monies raised or to be raised from taxation (see "Bond Information - Security for Bonds")
<br /> The initial Paying Agent/Registrar for the Bonds shall be Ameritrust Texas National Association (see "Bond Information - Paying
<br /> Agent/Registrar").
<br /> Proceeds from the sale of the Bonds will be used to refund a portion of the City's outstanding Series 1986 Electric Utility System
<br /> Revenue Bonds (the "Refunded Bonds"), aggregating $13,845,000 in principal amount. Proceeds from the sale will also be used
<br /> to pay the costs of issuance related to the Bonds. .
<br /> MBIA
<br /> Payment of the principal of and interest on the Bonds when due will be insured by a municipal bond guaranty insurance policy
<br /> to be issued by the Municipal Bond Investors Assurance Corporation simultaneously with the delivery of the Bonds.
<br /> MATURITY SCHEDULE
<br /> See Inside of Cover
<br /> The Bonds are offered for delivery when, as and if issued and received by the U nderwritersand subject to the approving opinions
<br /> of the Attorney General of the State of Texas and of Hutchison Boyle Brooks & Fisher, A Professional Corporation, Austin and
<br /> Dallas, Texas, Bond Counsel. The legal opinion of Bond Counsel will be printed on or attached to the Bonds (see Appendix C -
<br /> "Form of Bond Counsel's Opinion"). Certain legal matters will also be passed upon for the Underwriters by Vinson & Elkins
<br /> L.L.P., Counsel for the Underwriters.
<br /> It is expected that the Bonds will be tendered for delivery to the initial Underwriters through DTC on June 15, 1993.
<br /> I MAsTERSON MORELAND SAUER WHISMAN, INC.
<br /> PRUDENTIAL SECURITIES INCORPORATED THE PRINCIPAL/EPPLER, GUERIN & TURNER, INC.
<br />
|