Ord 1993-038 - Laserfiche WebLink

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I j't)f;X in the event of the discontinuance of the Book-Entry-Only System. Certain legal matters will be passed upon for the Underwriters by Vinson & Elkins L-L.P., Houston and Austin, Texas, Counsel for the Underwriters. Verification of Arithmetical and Mathematical Computations The arithmecical accuracy of certain computacions included in the schedules provided by First Southwest Company on behalf of the City relating to (a) computation of forecasted receipts of principal and interest on the Acquired Obligations and the forecasted payments of principal and interest to redeem the Refunded Bonds, and (b) computation of the yields on the Refunding Bonds and the Restricted Acquired Obligations was exanûned by KPMG Peat Marwick, certified public accountants. Such computations were based solely on assumptions and infonnation supplied by First Southwest Company on behalf of the City. KPMG Peat Marwick has restricted its procedures to exanúning the arithmetical accuracy of certain computations and has not made any study or evaluation of the assumptions and infonnacion on which the computations are based and, accordingly, has not expressed an opinion on the data used, the reasonableness of the assumptions, or the achievability of the forecasted outcome. Such verification shall be relied upon by Bond Counsel in rendering their opinion with respect to the tax exemption of interest on the Bonds and with respect to the defeasance of the Refunded Bonds. Financial Advisor First Southwest Company is employed as Financial Advisor to the City in connection with the issuance of the Bonds. The Financial Advisor's fee for services rendered with respect to the sale of the Bonds is contingent upon the issuance and delivery of the Bonds. First Southwest Company, in its capacity as Financial Advisor, has relied on the opinion of Bond Counsel and has not verified and does not assume any responsibility for the infonnation, covenants and representations contained in any of the legal documents with respect to the federal income tax status of the Bonds, or the possible impact of any present, pending or future actions taken by any legislative or judicial bodies. Underwriting The Underwriters have agreed, subject to certain condicions, to purchase the Bonds from the City, at a discount of $130,831 from the initial offering prices of the Bonds. The Underwriters will be obligated to purchase all of the bonds if any Bonds are purchased. The Bonds to be offered to the public may be offered and sold to certain dealers (including the Underwriters and other dealers depositing Bonds into investment trusts) at prices lower than the public offering, prices of such Bonds, and such public offering prices may be changed, from time to time, by the Underwriters. 1\ liscellaneous The financial data and other infonnation contained herein have been obtained from the City's records, audited financial statements and other sources which are believed to be reliable. There is no guarantee that any of the assumptions or estimates contained herein will be realized. All of the summaries of the statutes, documents and resolutions contained in this Official Statement are made subject to all of the provisions of such statutes, documents and resolucions. These summaries do not purport to be complete statements of such provisions and reference is made to such documents for further infonnation. Reference is made to original documents in all respects. The Ordinance authorizing the issuance of the Bonds will also a-pprove the fOnD and content of this Official Statement, and any addenda, supplement or amendment thereto, and authorize its further use in the reoffering of the Bonds by the Purchaser. CITY OF SAN MARCOS, TEXAS By: /s/ KATHY M. MORRIS Mayor ATIEST: By: /s/ JANIS WOMACK City Secretary 20