AGENDA CAPTION:
Title
Consider approval of Ordinance 2020-39, on first and final reading, authorizing the issuance of City of San Marcos, Texas General Obligation Refunding Bonds in the amount not to exceed $120,000,000 in one year 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; providing for the approval of this ordinance on one reading only as authorized by state law; and authorizing other matters relating to the bonds.
Body
Meeting date: May 19, 2020
Department: Finance
Amount & Source of Funding
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Fiscal Note:
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Background Information:
During the April 21, 2020 council Worksession the refunding of GO's bonds was presented for consideration. These bonds are to be sold in a negotiated sale with pricing scheduled for May 26, 2020. This ordinance delegates the final approval of the sale within the parameters set forth in the ordinance including maximum term, interest rate and issuance amount to the Pricing Officer. The Pricing Off...
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