File #: Ord. 2021-46    Version: 1 Name:
Type: Ordinance Status: Individual Consideration
File created: 5/6/2021 In control: City Council
On agenda: 6/1/2021 Final action:
Title: Consider approval of Ordinance 2021-46, on first and final reading, authorizing the issuance of City of San Marcos, Texas General Obligation Refunding Bonds in the amount not to exceed $75,000,000 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; providing for the approval of this ordinance on one reading only as authorized by state law; and authorizing other matters relating to the bonds.
Attachments: 1. Ordinance 05.24.2021 2021-46, 2. San Marcos refunding info (5.13.21), 3. San Marcos 2021 GO Ref Timeline
AGENDA CAPTION:
Title
Consider approval of Ordinance 2021-46, on first and final reading, authorizing the issuance of City of San Marcos, Texas General Obligation Refunding Bonds in the amount not to exceed $75,000,000 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; 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: June 1, 2021

Department: Finance, Marie Kalka, Finance Director

Amount & Source of Funding
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Funds Available: Click or tap here to enter text.
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Fiscal Note:
Prior Council Action:

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Background Information:
During the May 20, 2021 F&A Committee meeting the refunding of GO bonds was presented for consideration. These bonds are to be sold in a negotiated sale with pricing scheduled for the week of August 23, 2021. 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 t...

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