AGENDA CAPTION:
Title
Consider approval of Resolution 2020-97R, delaying action on an ordinance authorizing the issuance of City of San Marcos, Texas Combination Tax and Limited Revenue Certificates of Obligation in an amount not to exceed $50,500,000; and other matters related thereto.
Body
Meeting date: May 5, 2020
Department: Finance
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Fiscal Note:
Prior Council Action: Authorization to publish notice of intent to issue certificates of obligation was approved by council on March 17, 2020 in the amount not to exceed $50.5M
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Background Information:
Notice of intention to issue certificates of obligation was published in the San Marcos Daily Record on March 20th and 27th, and posted to the COSM website with the meeting date referenced as May 5, 2020 at 6pm. A delay resolution is required to provide notice to the public the meeting has now been moved to May 19, 2020. The published notice was for issuance of certificates of obligations in the principal amount not to exceed $50.5M. During the April 21, 2020 council Worksession the total debt amount approved by council was reduced to $33M.
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