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HomeMy WebLinkAbout1966-0479 - Ordinance - 08/23/1966ORDINANCE NO, 479 AN ORDINANCE CALLING BOND ELECTION; PROVIDING AND FIXING DETAILS RELATING THERETO; AND DECLARING THAT SAID ORDINANCE SHALL BE EFFECTIVE IMMEDIATELY UPON ADOPTION. THE STATE OF TEXAS X X COUNTY OF BRAZOS X The city council of the city of College Station, Texas, convened in special session at the regular meeting place thereof in the City Hall, within said city, on the 23rd day of August, 1966, with the following members present, to -wit: D. A. Anderson Mayor Bill J. Cooley Councilman Homer B. Adams Councilman Robt. R. Rhodes Councilman O. M. Holt Councilman A. P. Boyett Councilman Charles F. Richardson City Secretary and the following member absent, to -wit: Rosprim, when, among other business, the following was transacted, to -wit: The mayor introduced a resolution which was read in full. Councilman Cooley made a motion that the resolution be adopted as read. Councilman Rhodes seconded the motion for adoption of said resolution. The motion, carrying with it the adoption of the resolution, prevailed by the following vote: AYES: Councilmen Cooley, Adams, Rhodes, Holt, Boyett and Mayor Anderson. NOES: None. The mayor thereupon announced that the motion had duly and lawfully carried and that the resolution had been duly and lawfully adopted. The resolution thus adopted follows: 011.46 AN ORDINANCE CALLING BOND ELECTION; PROVIDING AND FIXING DETAILS RELATING THERETO; AND DECLARING THAT SAID ORDINANCE SHALL BE EFFECTIVE IMMEDIATELY UPON ADOPTION. WHEREAS, the outstanding bonds of the following described revenue bond issues of the city of College Station, Texas, constitute the only indebtedness chargeable against the net revenues of the city's waterworks and sanitary sewer system, to -wit: City of College Station Waterworks and Sewer System Revenue Bonds, dated .February 1, 1951, originally issued in the principal amount of $60, 000; City of College Station Waterworks and Sewer System Revenue Bonds, Series II of 1951, dated August 1, 1951, originally issued in the principal amount of $30, 000; and City of College Station Waterworks and Sewer System Revenue Bonds, Series of 1955, dated February 1, 1955, originally issued in the principal amount of $110, 000; and WHEREAS, it is provided in the ordinances authorizing the first two issues of such outstanding bonds, and in said bonds, that all such bonds maturing on or after February 1, 1967 may be redeemed by the city on February 1, 1966, or on any interest payment date thereafter, by paying principal and accrued interest thereon; and WHEREAS, it is provided in the ordinance authorizing the third and last issue of such outstanding bonds, and in said bonds, that all such bonds may be redeemed by the city at any time prior to February 1, 1970, for the purpose of refunding the same into one issue of bonds payable from the net revenues of the waterworks system, sanitary sewer system and electric light and power system, provided the bonds of such refunding issue bear the same interest rates and maturity dates as the underlying bonds so refunded and exchanged; WHEREAS, the outstanding bonds of the following described revenue bond issues of the city of College Station constitute the only indebtedness chargeable against the net revenues of the city's electric light and power system, to -wit: City of College Station Electric Light and Power System Revenue Bonds, Series 1955, dated February 1, 1955, originally issued in the principal amount of $265, 000; and City of College Station, Texas, Electric Light and Power System Revenue Bonds, Series 1962, dated August 1, 1962, originally issued in the principal amount of $35, 000; 0114 tic 4 NSNS 0a 0 and WHEREAS, it is provided in the ordinances authorizing the issuance of such outstanding bonds, and in said bonds, that they may be redeemed by the city at any time prior to February 1, 1970, for the purpose of refunding the same into one issue of bonds payable from the net revenues of the waterworks system, sanitary sewer system and electric light and power system, provided the bonds of such refunding issue bear the same interest rates and maturity dates as the underlying bonds so refunded and exchanged; and WHEREAS, the city plans to refund all of the aforesaid outstanding revenue bonds into one issue of bonds which will satisfy the foregoing refunding requirements and which will further provide that the city may issue additional revenue bonds on a parity with such refunding bonds; and WHEREAS, there is a need for the construction of extensions and improvements to the waterworks system of said city, and the city council has determined, and hereby determines, that the proposition of issuing revenue bonds for such purpose should be submitted at an election, as hereinafter provided, said bonds to be payable from the net revenues derived from the operation of the waterworks system, sanitary sewer system and electric light and power system on a parity with said proposed refunding bonds; and WHEREAS, the city council wishes to proceed with the ordering of such election; Therefore BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF COLLEGE STATION: Section 1: That a special election shall be held in and throughout the city of College Station, Texas, on the 17th day of September, 1966, which is not less than fifteen nor more than thirty days from the date of this ordi- nance, at which election there shall be submitted to the duly qualified resident electors who own taxable property within said city and who have duly rendered the same for taxation, for their action thereupon, the following proposition, to -wit: PROPOSITION SHALL THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS, BE AUTHORIZED TO ISSUE THE REVENUE BONDS OF SAID CITY IN THE AMOUNT OF $600, 000, MATURING SERIALLY WITHIN 30 YEARS FROM THEIR DATE OR DATES AND BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED 6% PER ANNUM, FOR THE PURPOSE OF EXTENDING AND IMPROVING THE CITY'S EXISTING WATERWORKS SYSTEM; SAID BONDS TO BE ISSUED IN ACCORDANCE WITH AND SECURED IN THE MANNER PROVIDED IN ARTICLES 1111 TO 1118, BOTH INCLUSIVE, VERNON'S TEXAS CIVIL STATUTES, AS AMENDED; AND TO SECURE THE PAYMENT OF THE INTEREST ON SAID BONDS AS IT ACCRUES AND THE PRINCIPAL OF SAID BONDS AS THEY MATURE BY PLEDGING THE NET REVENUES FROM THE OPERATION OF THE CITY'S WATERWORKS SYSTEM; SANITARY SEWER SYSTEM AND ELECTRIC LIGHT AND POWER SYSTEM; EACH BOND TO BE CONDITIONED THAT THE HOLDER THEREOF SHALL NEVER HAVE THE RIGHT TO DEMAND PAYMENT OF SAID OBLIGATION OUT OF ANY FUNDS RAISED OR TO BE RAISED BY TAXATION; AND SAID BONDS TO BE ON A PARITY tail IS IN ALL RESPECTS WITH THE REFUNDING BONDS OF SAID CITY PAYABLE FROM THE NET REVENUES OF SAID WATERWORKS SYSTEM, SANITARY SEWER SYSTEM AND ELECTRIC LIGHT AND POWER SYSTEM? Section 2: That said election shall be conducted and held in the three city election precincts heretofore established by ordinance of the city council of the city of College Station, wherein said election precincts are described by natural or artificial boundaries or survey lines, and that the respective polling places in said election precincts and the following named persons are hereby appointed officers to conduct said election in said election precincts, respectively: (a) In Ward No. 1, the polling place shall be the A&M Consolidated Independent School District Music Room on Jersey Street and the following named persons shall be the election officers: Presiding Judge Dr. L. G. Jones Assistant Judge P. L. Downs, Jr. Clerk Mrs. J. N. Holmgreen Clerk Mrs. J. G. McGuire (b) In Ward No. 2, the polling place shall be the College Hill Elementary School on Williams Street and the following named persons shall be the election officers: Presiding Judge E. R. Alexander Assistant Judge Mrs. E. D. Parnell Clerk Mrs. G. T. King Clerk Mrs. P. W. Burns (c) In Ward No. 3 , the polling place shall be the city of College Station City Hall and the following named persons shall be the election officers: Presiding Judge C. W. Knight Assistant Judge Mrs. W. D. Lloyd Clerk W. H. Freiberger Clerk Mrs. L. M. Hovorak Section 3: That said election shall be held in accordance with the provisions of the Constitution and laws of the State of Texas, and only duly qualified resident electors of said city who own taxable property within said city and who have duly rendered the same for taxation shall be qualified to vote. Section 4: Absentee voting in said election shall be conducted by the City Tax Assessor -Collector, Mrs. Florence Neelley, at the office of the City Director of Finance in the City Hall of the city of College Station, Texas. Said City Tax Assessor -Collector shall keep said office open for at least eight (8) hours, that is from 8:00 A. M. to 5:00 o'clock P. M. on each day for absentee voting which is not a Saturday, Sunday, or an official State holiday. ()1 j'A_4a Voting in said election, including absentee voting, shall be by the use of paper ballots. Such ballots shall conform to the requirements of the Election Code of the State of Texas, Chapter 492, Acts of the 52nd Legislature of Texas, Regular Session 1951, as amended, and shall have printed thereon the following: OFFICIAL BALLOT PROPOSITION FOR THE ISSUANCE OF $600, 000 WATERWORKS SYSTEM EXTENSIONS AND IMPROVEMENTS REVE- NUE BONDS AGAINST THE ISSUANCE OF $600, 000 WATERWORKS SYSTEM EXTENSIONS AND IMPROVEMENTS REVENUE BONDS Each voter shall vote on such proposition by scratching or marking out the expression that he does not wish to vote for, thus leaving the one not so scratched or marked out as indicating his vote on such proposition, in accordance with said Election Code, as amended. Section 5: That notice of said election shall be given by posting a copy of a notice containing a substantial copy of this ordinance at the City Hall and at a public place in each of the other wards within said city not less than fourteen (14) days prior to the date upon which said election is to be held, and by publishing such notice on the same day in each of two (2) successive weeks in The Bryan Daily Eagle, the first such publication to be not less than fourteen (14) days prior to the date set for said election. It is hereby found and declared that The Bryan Daily Eagle is a newspaper of general circulation within said city. Section 6: That this resolution shall take effect and be in full force upon and after its adoption. PASSED AND APPROVED this 23rd day of August, 1966. /S/ D. A. Anderson Mayor, City of College Station, Texas ATTEST: /S/ Charles F. Richardson City Secretary (SEAL) 01130 BOORUM & PEASE «Nc�Tl eN,R" 3 � & PEASE THE STATE OF TEXAS X X COUNTY OF BRAZOS I, the undersigned, City Secretary of the City of College Station, Texas, do hereby certify that the attached and foregoing is a true and correct copy of a NOTICE OF BOND ELECTION, including a true and correct copy of the Ordinance calling said election adopted at a meeting of the city council held on the 23rd day of August, 1966, together with an excerpt from the minutes of said meeting showing the adoption of said resolution, as same appear of record in the official minutes of said city council on file in my office. WITNESS MY HAND AND THE OFFICIAL SEAL OF SAID CITY this 23rd day of August, 1966. (SEAL) City Secretary, City of College Station, Texas 01151 STATE OF TEXAS X COUNTY OF BRAZOS I, Charles F. Richardson, Secretary of the City of College Station, Brazos County, Texas, hereby certify that the above and foregoing is a true and correct copy of an ordinance passed and approved by the City Council of the City of College Station at a regular session held on the 23rd day of January, 1967, as it appears of record in the Minutes of said City Council in Book VI, page 120. WITNESS MY HAND AND SEAL OF SAID CITY, this the 3rd day of February, A. D. 1967. Secretary City of College Station, Texas 01152'