AGENDA CAPTION:
Title
Consider approval of Ordinance 2026-18, on the first and final reading, authorizing the issuance and sale of City of San Marcos, Texas General Obligation Refunding Bonds in an amount not to exceed $61,135,000.00 in one or more series; 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 other matters related thereto; and providing for the approval of this Ordinance 2026-18, on one reading as authorized by state law.
Body
Meeting date: April 21, 2026
Department: Finance
Amount & Source of Funding
Funds Required: N/A
Account or Project Number (C = CIP funds): N/A
Funds Available: N/A
Account Name: N/A
Fiscal Note:
Prior Council Action: N/A
City Council Strategic Initiative: [Please select from the dropdown menu below]
Economic Vitality
Public Safety, Core Services & Fiscal Excellence
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Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
? Arts and Culture - Choose an item.
? Economic Development - Choose an item.
? Environment & Resource Protection - Choose an item.
? Housing + Neighborhoods - Choose an item.
? Land Use + Community Design and Character - Choose an item.
? Parks & Public Spaces + Health, Safety & Wellness - Choose an item.
? Transportation - Choose an item.
? Core Services
? Not Applicable
Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
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Background Information:
The Finance Department works with the City's Financial Advisor, Dan Wegmiller of Specialized Public Finance, Inc., to identify opportunities to refund existing bonds and generate interest savings. The City saves money by issuing new bonds with more favorable terms to pay off existing bonds.
A total of $19,335,000 in existing bonds have been identified for refu...
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