HomeMy WebLinkAbout1954-0200 - Ordinance - 12/20/1954STANDARD B&P
STANDARD B&P
ORDINANCE NO. 200
AN ORDINANCE AUTHORIZING THE ADVERTISEMENT OF THE SAIF OF CITY OF COLLEGE
STAT ION REVENUE BONDS.
THE STATE OF TEXAS
COUNTY OF B AZOS
0
The City Council of the City of College Station, Texas, con-
vened in regular session at the City Hall within said City on the 20th
day of December, 1954, with the following members present, to wit:
Ernest Langford Mayor
J. A. Orr Councilman
A. P. Boyett Councilman
Ernest Seeger Councilman
G. W. Black Councilman
Joe H. Sorrels Councilman
M. C. Pugh Councilman
N. M. McGinnis City Secretary
when the following business•was transacted:
The Mayor introduced an ordinance which was read in full.
Councilman Orr made a motion that the ordinance be adopted as read.
The motion was seconded by Councilman Boyett, and carried by the follow-
ing vote,: AYES: Councilmen Orr, Boyett, Seeger, Black, Sorrels, and
Pugh. NOES: None. The Mayor requested to be recorded as voting 'Aye.e
The ordinance this adopted follows:
AN ORDINANCE AUTHORIZING THE ADVERTISEINTS OF THE SALE OF CITY OF COLLEGE
STATION REVENUE BONDS.
WHEREAS, pursuant to an election held on the 8th day of January,
1951, the issuance of $70,000 revenue bonds for the purpose of building
and purchasing improvements to the electric light and power system, $20,000
revenue bonds for the purpose of constructing improvements and extensions
to the waterworks system, and $110,000 revenue bonds for the purpose of
constructing improvements and extensions to the sewer system, was author-
ized by majority vote of the qualified resident taxpaying voters of said
City voting at said election, all said bonds to be secured by a pledge of
the net revenues of the waterworks and sewer system; and
WHEREAS, said bonds were combined, and out of the total of
$200,00 revenue bonds voted at said election, a first installment of
$60,000 of bonds and a second installment of $30,000 of bonds have been
authorized; and
00491
Ordinance No. 199 -continued.
WHEREAS, the City Council now wished to issue and sell the
remaining $110,000 of bonds authorized at the election held January 8,
1951; and
WHEREAS, pursuant to an ordinance heretofore adopted and to
an election held on the 1st day of December, 1954, revenue bonds in the
amount of $300,000 for the purpose of constructing improvements and
extensions to the City's existing Sanitary Sewer System ( said bonds to
be secured by pledging the net revenues from the operation of the City's
Electric Light and Power System ) , have been authorized; and
WHEREAS, this City Council has determined to issue a first
installment of said $300,000 voted and authorized bonds, to wit: $265,000
of said bonds; and
WHEREAS, it is provided in Section 65 of Article VI of the
City's Home Rule Charter that bonds shall be advertised once a week
for two consecutive weeks, the first publication to be at least four-
teen days prior to the time set for the sale of said bonds, and that
said bonds shall be sold at public sale for the best bid; THEREFORE
HE IT ORDAINED BY THE CITY COUNCIL OF THE C 1TY OF COLLEGE
STAT ION:
$ gtion 1: That the Mayor is hereby authorized and directed
to publish the following advertisement in The Battalion, the official
newspaper of said City, on the same day in each of two consecutive weeks,
the first publication to be at least fourteen days prior to the time set
for the sale of said bonds:
NOT ICE :Q, B,_ IDS
The City of College Station, Texas, will receive sealed
bids at the City Hall, College Station, Texas, at 7:30
p.m., January 17, 1955 on the following revenue bonds of
the City:
$110,000 City of College Station Revenue Bonds to be pay-
able from and secured by a first lien on and pledge of the
net revenues of the waterworks and sanitary sewer system
of said City, to be issued for the purpose of securing funds
with which to build and purchase improvements and extensions
to the electric light system, and construct improvements and
extensions to the waterworks system and the sewer system of
said City. Said bonds are the third and final installment
of $200,000 of bonds voted January 8, 1951.
$265,000 City of College Station Revenue bonds to be payable
from and secured by a pledge of the net revenues from the
operation of the electric light and power system of said City,
to be issued for the purpose of constructing improvements and
extensions to the City's existing sanitary sewer system. Said
bonds are the first installment of $300,00 bonds vote6Ae r
1
1, 1954. �1��i
7-r-�
Ordinance No.'d999-continued.
Complete financial statement, terms of sale, and bid forms
may be secured from Mr. Ran Boswell, City Manager, City Hall, College
Station, Texas.
Ernest Langford./Mayor
City of College Station, Texas
Section 2: That this ordinance shall take effect from and
after its passage.
PASSED AND APPROVED this 20th day of December, 1954.
ATTEST:
446-
./.4241-1,-))
Lam:
Mayor, City of C,dliege Station, Texas
City Sectetary
(SEAL)
00493