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HomeMy WebLinkAbout1951-0165 - Ordinance - 08/18/1951 (2)C CgWINANCE NO. 165 AO The State of TwMs � Cou ty , of Brazos City of College Station IM On this the 18th day of Aubust, 1951p the City Council ®f the city of Colley o Stxation$ Texas, convened in special session at 'the ro3vl.ar meeting; pl_aco thereof ttith the follollin mambers present, to 1,rlt: s. neat Langford, a1,hyor; Ii. L. Boyar, A. 1'. Ijoyett, R. B. Halpin, W. D. F`itchp Co�JLg7i il.2u8Yty Z N. 11. MGinnis, City Secretary, :and the f©lloving absent: Councilman < badgm'tt and Orr, conotitutinG a quorwn present, at which tuna, the f01:10 -ming wionG other business :iness w a.s t ransa.ctods Cours.,,.!han. Uoyor Introd ed a proposed of Hance. The ordinance. was road in ibU. Councilman Halpin nada a motion that the rule reg7airinC ordinances to be read at more than axle rneetinG be suspended.. The motion was soconded 'by i Counciliman FL -Leh, Tho motion ear° ied— by the follol dna voto: Ayess Councilmen Bayer, boyett,, Halpin, Fitch- Noes: Bone. Councilman Boyott made a mot:io i that the ore�.1naace be passed finally. The motion was seconded MJy Counciiiiia . Boyer. The motion carried by VaeN f0llo7,rssarvoter Ayes: CouncMaen Boyer, Boye'tt, iI�llpin., F`atc�i; i�ooss iJone. The Slbyor annowiced that Vie oaxUnance had been DIIDally passed. The, Ordin co is ' as fol.l aw s BY ZIIE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEES f AUVIIORIZING TMIE ISSUANCE OF 0111' OF COLTZGE STATION [jATEl3tiOIIr,S APiD 83HER SYST&I RMW-1 IE BONDS, SERIES II OF jq- aJ, COMISTITUTING THE SECOND SERIES OF BONDS ISSUED BY THE CITY OF COLLEGE STATION OUT OF AN ISSUE IN TIE TOTAL IRINCIPAL AMOUNT OF 0200,000, AUTHORIZED AT AN ELECTION HELD AO IN SAID CITY ON JAkTUARY v, 1951, FOR TIME PIOR 'OSE OF' SECURING FUNDS WITH 141/1011 TO 13UILD AMD-pURCIIA E IM-ROVEWTS AND EKTIMI- 7- SIONS TO `.G`FIE WATMOEMS SYSTEM ANI? THE SI 4LM SYSTEM OF MID CITY; 10 143MORIDING T'UE I 1O 1 OF THE BONDS AND WE INTERW- T COUPONS; rL, PLEDGING TIM' REVII�iUE0 Or TIIE LJATERJ,10Mi S SYSTM 4 AND SWER SYST%1T Cb TO I'AY TILE pRINCIPAZ OF AND INTEREST ON SAID LONDS APER C.� Z 00423 F� r rs 3 e I/ MAKING MOVISION MR THE 01=99 OF MUTING SAID SYSTEM; A JQ��TA COVENAUTS r SAID CITY WITH R&- TO WWI BOND FnlD DROM 1010H SAID M 14 1 AL AND IDT SFS ' ' 0 BE PAID; PROVIDING T T TIZ HO HOLDERS OF SAID OND$ SIMLL 14EM BAVZGGT TO DEMAND PAYMST OF SAID OP,- LIGATIONS OUT OF ANY MS IS '90 BE RAISED BY TAXATION; PALIALL ORDINANCES9 RESOLUTIONS AND RDELIS 114 CONFLICT WH DECLARING AN MMOENCY0 'Bat bonds shall be dated Auguat 1p 195 1., and shall bear lubereat from date Until paid at, the r .t Qf three and One-half 0-1/2%) per cent per a; luter0st OIC.. be payable Wbrmry lo 1952 and sort -annually thereafter can Aupot lot wd libbrwry Ist in each YOwry uah interest to be evidenced by ;groper coupons attached to each of a��.c� .a binds; jprim f Interest on mid bonds 1 be 10 I jy R e y o they , w1tate 0 a ..0a 1 VvO l�� � 10 e� Station state -i surrender *:C U.mo o , as* or at. Dallas Hat -.. , �� � Twtaso *v, College � r. at the aption 09 the holder. M. Tient mid bonds l ImtUrO ab dllO'w Fed 1$ 1952 100 * 195 �,000 Fed $ 1,95 100013 Fobruary It190*i February 10 9 10000 Fehr - I* 3.95 00 IJ)0 7 February It 1958 10000 fed ry * 99 , 000 Feb , 1960 10000, 10 February 1* 1961 10000 . a February 1.$ 1962 February 10 1963 0000 2,W000 13- 14 " 10 .96/+ 20,000 . February it 1965 February if 1966, *000 20000 3.9 - 20 b ry 1* 1967 February 1968 * 000 9,0000 .* ry Is, 3,909 21,000 Fe 19 x,970 February 10, 1973, �� 2,0000 29-30 til Bos Koo. 21 to 30* 11,10..5 « * optional,o °el)r rj , , or o yiso paw ��eafteo ". �� �, s a,bonds sj . , � _o � "t c3 a ; the rat$ 0061 O the 'City 0,T C01�. 0 by t1w 1 S * fto- 'tratio $ ' * l upon ` id . t the *be ongrMca SeMinted Sia.- have o lthgred upon U t . the sme eggeot as if they had been sipodby wid officials. 00426c That `the form of mid bonds Shall be OUbStantlullY as f011Owst $4000 UNITED STATSS OF AMUOA STATE OF T31 COUNTX OFIBRAZOS CITYOF +AGE STATION WAM4ORKS AND SMIM SYSTEM R m1=4 BOND Miss 11 or 1951 THB4, Gjrj O STATION,,'n t iw y f Brazos# bi the ts' s U W h ;. o itself . indebted to pro r,* solelyfrom the peolal Awds horeinafter apeoMeds, the sm of ONE THD DOUARS (%,j , )� st d$ ' og Mir hereof at. the Upon the b000m eu Stallm Baa s t ME Of one ` hl (t 030vw t by the 01- w1ount o an and conot the f3ever and Laws o the. i date C t don of the holders R I one of a aeries o �� t $309 'a�ov bered V groin one (l)to Thirty (301, nolusi e p in the denomination and (61j,000,00) of o moho aggrepting Thirty Thoumd Dors, Ono Luting the s000nd series of bonds issued of Gollege StatIon out of an issue in the total prinolpal 00.,000.oO authorized at an eleotio a held said olty on 951, for the lmrpvoe of o lth vaoh to build Impro�r e ` 4o o e e�.e °i light systems, ao the watervorks ° twi oR oald Citys in accojd=ao i .th the ConotItution the State of T=ast inoludi gparticularly Articles LUQ. - 3,118, 00427 r �--, Body dat ,ty Otoo 1 On oil aW --A w sft.* Jz__ . W Z U) IN and the series of idAch It is a parto is duly authorized by laws Haat all acts,, conditions and Vtb-igs required to exist and to be done precedent to and. in tdie,lssuance of We bond to render the same lajdAa and valid, have been properly donep have happened and been porfon-aed in regular and due time, forra and manner as required by the Constituti Vigo That a ` ly`W,10 gollowine oertj:rloatol be,printed on the back of eacki bonds 011TI Or Ca4MMOUM STATS OF TBUS I k �M; GIRTIpy that there is on file and of rocord in my offlee a e,i 3 to of tjjG Attorney General og the Stat of Texas to Vie affect Vaat thio bond has been e=alned by WIN as reqwtredy law, and that he finds Umt It has been issued In��c � ,, y vW", 'die Constitution cif"'Lhe $tate of Te=z* and t�t it is valid w4 binding speolal ob i a lo o said . City of Collegeionp T 01, jAyablo froM the revenaes pledged to its p ymew4 by w -d in -the ordinanoe aWdiorizing, same, ar. mid bond 1,ws VIALsday be w reglotered Vy me, W1900S IV WaID seal, ° office at Austin., Texas, 'this CoiaptrdUer of Pablie Account$Of The &tata Vi4 t. � {tom p� y' e1l Mall �, W aa1 aa the. smterwowko aywwrt and, the some° system of said Cityp together with an additions and axtensions tk4 re' oa and 1japrovomentsand thereof. �4 %,he CityCouncil shams at all, tlmes,# Viale avy of said boards or any ` tha re 9,4d ids Qk4rL,10 and 0011001 for oervicoo roude:�ed by Dat bottA o �a'bondsas oh, `,i WW outstanding indebtedness dgi Article 1113p Revised Civil Sta For the bduefit of the original ate$ 7W Al a"Lu 41W '14 v4p WA interOW4 Chem o rAy the interest and, pr.ai; interest Daturea,and nocrues the ayotem,,,as lo,Vequiredby g or `` a' x.925' sand M- n vhaser, , for -the benegit, o 14- air and all subsequent holders of mid bonds, cou r part 'UOrOOf y' md In addition to all other, provisions -A o in the lava of the state of Texas and in this ordinance,, , s mrpresorj stipulated; A `'C1 ; The City shall, -fix aid mintain rates and collect charges ,for the facilities w -A Servicesafforded the $Yst= whith',,1411€ vie revenues dufficient at all timiess () To pay all operationp int O% oproo atio o and 'betterment charges of the SYS - () To establish and maintain the Lend {) `.fie pad' .all outstanding Indebtedness against the System,, offer than bonds,as and ' When the e become due* Promsd �.a, that no free aerviob o:V � x �p City or war of Its agencies or instrumentalities i-zako use of the services &, oilitie of the Systenjo Igaymnt of the reasonable value thereof aball be me 'by the City out o derived from ekes other thwa therevenues and income of the systm jrhe City will deposit as oolleeted all revenues derived from the OPOratiOn Of the System into a Separate aecou '+, (herein called the s4 el) which shag, be kept separato and amt from Queer ' Ule City. The y m ftd shall be p aired as rollowss jirom the ids In the System Fund,, the City shall pay into the Bond Fund during eaeb, year In which anY 09 the bonds harein authorized the Waterworks and Seer Systell, Revenue Bonds, datedthe date "e� ry 1 1951, alt n, ,� t l of theaw ry of the, bonds herein authorized to the jmrohaaero thoreofv an amount equal to 100 per centull of tae amounts req.uired to ineot the interest wd principalpayments falling due on or before the next maturity date of the bonds. In addition o Such payment.. tie city shat pail into the Bow FwA Xrurathe SyOtOfa FuOd In each yeartvonty (C%) Per Qentwa of the above required amount until such time as there is in the Bond Fund an amount Sufficient to Trieot the interest and prinelpal payments failing due on or beforethe noxa maturity date of the bond and -�h Interest Principal payments o the n ' for , ` one year hOrOa Vhe amount required to be paid Into -Whe Bow in oaalh year shall, be paid in subatax-itIally equal monthly �ymonts grom the Wneyo' in the System � after deductions have been made for TAying, the reasonable ,cast of tae operating; and YpAintaiulng of the System for such a ont1i.a If the revenues of, the Systora In any raOrths after deductions 9-or operation and -i� � t o the required M-foon into �a Dond ftAq,then the amount of wW deficiency in tho .l n shall added to the waount othenrlse required to be MAd into the and YWd in the next month, it Is the intont of this provisionV-MI t,11cI paid into Vee Bon Fund shall be in excess of, that imediate requirements for papnent of interest on and zinc of the bonds until there has boon aoomxulated in the,bond Funds, as a reserwo for contingenoless, ars amount uffi i n o service the bods for one year. The moneys in the Bond Fund shalle solely for the purpose of jxkylng interest o and prinolp4l of the bonds until all the borAs have been retired- provided# ,that, uklen the total in the Boal Fmd is equal to the aggregate principal sunt of the bands st . ng jAus accrued interest tbe e,, -the monoys In the Bond Fmid ..may,use to purchase said, fonds at a price, exclusive of accrued interest) notedi V".a�principal amount theroo2j, or to redeem - id x I € th the g ion provision contained In Section III of tAds :ordinance., The moneys paid into the Boxall hmd shall be doposited, i r banks . and del be eontinuously secured by a. valid plledge to the City of Direct obligations of the United States of ri a,# having an aggrogato rtwket varum, exclusive accrued Interests, ; at all gimes a tt h o� � Bond d, th`+ i€ o 'the tY, may �be Invested in suchdirect obligations of the Unl-*W4 States of America,deposited i-i escrow MAW ewag €wnt— If such tundo are so invested a d deposited in osorow, the I- y shall i2awo than right to have mold through the escrow agont on that open market aH sufficient amount of said securities in order to meet its obligations of pwinci x interest In event It not have sufficient iNuAo,,;. uninvesteds, on hwAfor such 1purpose., Under auch,,, eirewastancest the Mayor isereby authorizods,,garde d directed t give 91fteen days notice to such eaorowagent Pf I the WCOSSIV to 06.1 andsecurities the Open, market. . After oueh, sale,* the monoya, resulting therefrom oWl belong to Ute Bond DW and available to, pay such d1oligations of principal and Interest. ..rF xW xhwdo remainingg in the 8Y0'Wm EWA.,8Y0' after Pr0`- vision for the reasonable cost of o vating and maintoo-ning, the OYStOmo and after pw$1-Ing the amounts required to be _Mid into the Bond Amd hereto- fore established for the 0111 OF 0, WRATiO i WATERWO BWER SY` M 03p dated February Is 1951, under the terms and P-roVisiOnsOT the ordinanoo authorizin' cid a , and after paw the required to 0043 , 7 h� 50 C �C V) be PAd Into the Bond Road : abo" Mov-14edo of tho l.e bWAn aut,ba,jW,. 0 may be umA by the City for t 0 puralaft of 00 bonds at not exeseding the princiral.amomt V- f (exausive of soodiod Inters) or for radeerAng said.bondo in fano Vith the r+ Ptlon j.roviodo z oontained In seo'blon 111 of tAAs, ordlawcoe, or : obr wr other 0. M" '444"01 1142MAQ , Wdlo vx of the bonds arab outstarx-l-la , Uia CiV dca i.l not IBM ow Gds. Uoua bondo (ether hQ4 on Januar 80, 1951s, " lmei rM%s r provided) mable : =ti the comes of ,tho 31yabota as Goss ths,lien of auohire rjaydblo froom the reSI'onues of tho .Systwi2 its nedo ;juvior and 'saYoxxUra" ;7n .an mr,�Lto to the lfmg of V o bonds horain authorlsodo In no emnt,. u��.y3,gleay��ya of�y�@q_y.�y'.�,�1y� a�ynde amy ou't���' .�: v.:i.�. tho [i Giggtyyf�r���'r]t' ,, -v oor��p ot1w�S wise yV33AJL,fEaaber.. M!Ns Uystiaa or , �' �ofp o VWilp lease o ottaerr flee d syo of . wy- oubstanU4 portion of wah Gjst a, '1 heze ,ice-.oimia eboU fry to the bewfit of and be onf'r,*aw to by Uie hWAcr of aAy a the bo eq It Is. un err -rood wd agreed UWL, 'Wie es u hoxvin a,uWOr1zcx be on ra 1 lty v Ui the eerieo of City of College Station Vlaterdoekw. =4 Swar syackori Havenuo lbrAs, datod Feb ,J 1. 1951, heretofore outhorized and 1wal. The r .Yi. Weds autiw:zed ab sald 01cot i.on hold on e3wnuury 8, 101, in taw totem: a4pois swow$ ar ',110,Od: ,00 my be issued o w3A by tjco Q1 by an4, erlrh► boaft Vheu issued wad sold ah all be on a jAiA ty vita Uao boxAr, ho to autbalrrg wd Vith Via serloo of UWwrwoxta aro seer Sys -Lem Revonuo ,mss 44W rei�Twwy 1, 195., Lereijofbre Fau•U'10ri. l aW jesuedo pr-mided, hwA"rf t tile city oh$U na% i8sue and, W11 ww. of suah rwm1xdaV bonds. a+autho1sped at asdd election hold on Jauay 8v 1!,13.# unta such Um *a the revenwe of the i►r a period of Welve () months inmdlately jowmUn€a Ulc- uallo of suoh 3VMLUAUE 'iNwAa, after deduotlnG the reason0le cost of., ax-eraU116 and Mintaining tis Systems, am oo .Vied by on Engineer of tae 01ty' s oholoo, who to regf,."o- ted bj the s'G'cxa kwxd of Rejetrwolon ,for � rof'000lowl 949imers of state 02 'somas, to be eq '40 at least I'l, t3, laz the average oumal roquIrwmts of Vrlxm i rail intra cot an tho ou tstw inc, bo a of the a:�ormpenLloned Watortiwks and Saw ayt ta'a Ravonae O €:, datod bxuw7 11, lW1,0 and ouch additl nal bonds a,•u•Liiorized at raid oleo-Uon to be so Issued d, aW in a"tion thereto,, tvo CkWj s tall havo node an requind Parrants iR'i'co ItF O DOW LIZA* 00433 A !g, Iq D* I rk i The City shall maintain the System in good condition and operate the same in an aggloient, rr and at a reasonable cost,, So lo%,, av any of the bonds are outstandinz, the City agrees to,rWn W --n insurance for the benefit of the holder or holders of the bonds, on the System, of a kird and in an amount which usually would be carried by private comp.rd es. engaged In a sirtdlar type of 'business, Nothing In tlds ordinande shall be con- straed as requiring the City to ezpona any RwAs which are derived from sources other than the operation of the Systems Imt nothing herein shall be construed as preventing the 01ty from doing so. E. FRO'. TI io City shall keep proper " books of records ard..aocow-ito (separate om all other records and 400ounts) In tftaoh complete''and correct entries Ww1l be made of all traasW41ons rojabing to die System. 1414o City sha:Ll hxxdoh to avj holder of any of the bonds,, at the Witten request of such holders not more, than tldrty, days after the to of each six monthat 211seal period., cample te operating, nd ineome statements of the System in reaoonable detail coverin such six months' period,, and,, not more than sixty days after the close of such fiscal years, complete financial state- ments of the Systera in reasonable detall, covering, soh risoal years, certified by the City's Auditor. s Any purchaser oper cent= In aggregato principal t of the bonds at the tim, then outstanding or aW holder or holders of 25 per centum of said amount of outstanding bonds shall have the right at all reasonable times to inspect the System and all records,, amo-Lmts and data of the City relating theretoo G, JXM4UL"' i Upon uritten request, the City will furnish to any purchaser ontum of the bonds such financial statements and other pertinent inforAmtion md data rolating, to the City and $ystarrt as such jmrchafm from time to time may reasonably require. 11. Upon requests, the City will furnish to axW parohaser of holder of 4 per cexrLwa of the 'bonds, inforiation for -We- preparation of a bond circular in customary -foxTa,, oigned, by the proper o2fjoisla of Ute City, containing such data as such pwohaser or holder imy reasonably request eono ernint the City and the System. X. The khyor, City Socretarj andGity Treasurer are hereby Instructed and directed to do mW and all VA-uge necessary and/rx convenient in reference to the installing and maintaining of a complete system of records and accounts pertaining to said System and to make, t4le moneys MILL - able for the payment of said revenue bonds in the manner provided 'by * 00434 k j h 122 : . o f t he noply.Sepolon of Aho` t yw;b logiolatume, of Tom# 0000JAVP Q,120 19010 Ip word6nae vih the provi olono ArKeTeIII&XVISOGIVII Watates of T as, as Sm nd A the yeas .for the operation of such Slates shall .July lob to JqVIPth of each Yvor a The PityAMcovenants kuh thio ordinance 0110M () That th I e r nue bonds authorized hereunder i oblAgatloAs oda the I the holder thereat shall never ° have the right to dead payment thereof o0t og Ands WON or to be raised by, ts=tion, h4dthq UVAl paver to plodge ` We Issue or bonWand has 0MAlly exerolsed sad pwr under the Ann- atitutithe state , including the power eepAiating under Articles 1111 * 111$ off inalusiveo 1925p Aevlood 0101 Statutes of the State of Way With,amendments theretoo and by authorityo arvot,o of the o- Bled Motors of oald Git,voting at an election, Mad in WilanJanuary 8p 1951. that the bondsIssued hereunder Wall to ratably secured under widpledge of Inoome in such manner . that one bond ha have no preforweva y other bond of this 000 W That other than gar the KaymaAt of the bonds herein rwovided for, and for the poymenVoT the City of 0011090 Station WMIMM Clem Aevenue Bondi dated Fobwusxtyt 1951, hereltot authorimed My, the t y revynves and ispame OR tho vain. system have not been, pledged In awn manner to the r m nt of any debtsobligations of thbe Gity* nor of saidSys ter. It shall be the duty oV the Wyor to nulxwitthe Word OX saidbonds `° the and o the Attorney General or -the State of T- for approves andth e ° t have then regiet od �y ° Comptroller Accounts h. Sete of Texas; Nhan said bonds have bean registavved . the the State comptroller U here-by authorizod 111 ' to deliver the bonds to the MierlOan ButiOnal '&P AuaqAl Tegaso %jhero they WL1 taken up and palid for by t4e pvrehasers. XIII. Dy re€l son of the fact that Ube GIty Council Of tkle G'ty of 003 'ego Station, Texas, considers the passage of t1li.s ordinance and the issuance of said bonds necescary for -We preservation of the public health axed safety of the citizens of said City.. it Is hereby declared to `ben eLlor, ency measure deiaamUng that the rule requiring ord.inancos to be road at more than ono; mevtinr; of t,10 city Cowicil be suspended, and 'Chart this ordilmnc s 'take effect :imediately faraa and after its paosagep adld it is so ordolned.. pASSW &i1 as i,(, , t s 18Ut day of AuGUSt, :i�i5�•. f: jar, C:i by. College Station, Twias A LSSTZ Caty Searett�`y -Ji 0-0436 -PI No. 3.6} C~ty of College Stat, i~ On this the 1Bth day of August, 19~1, the City Council of the City of College Station, Temas, oonvened in speeial session at the regular meeting plaoe thereof with the following members present, to wit, Ernewt Lang. f~, 1~~ H. L. Boyer, A. P. Boyett, R. B. Halpin, W. D. Fitch~ Couneilmanj N. ~ McGinnis, City Sec~~, and the following absent~ Councilmen Badgett and Orr~ constituting, a quorum present, at which time, the following among other business Oo,~__e~~ Boy,~ int. rodue, ed a pro~~ ordinance. The ordinanoe was read in ~. C~ Balpin made a motion %b~t the rule requiring c=~linances to be read at more than ane meet~ be suspended. The motion ~as secozded by ~cau~lsan Fitch. The motion carried by the follo~ vote~ Ayes~ C~_~ilman Boyer, Boyet%, Halpin, 1~~; Noes~ ~one. Oouueilman Boyett made a motion that the ordinanoe be passed finally. The motion was seecaded ~j Counei~ Boyer. The motion earried by the foll~ vote~ Ayes: C~tu~ Boyer, Boyett, Halpin, Fi~I Noest None. that the ordinance bad been finf~ passed. THe ~ is as followst BY THE CITY CO. OIL OF THE CITY OF CO~ STATION, TEXAS~ AUTH~ZING THE ISSUANCE OF CIT~ OF OO~ STATION ~A~OEXS AHD S~ SYST~ ~E BONDS, ~ES II OF 19~1, COI~TITUTI~G THE ~EO(21D SERIES OF B~~ ISSU~ BY THE CITY OF COLLEGE STATION OUT OF AN ISS~ IN THE TOTAL Ht~CIPAL A~T OF $~00~000~ AUTH~Z~ AT AN EL~0TION IN SAID CITY 0H JANUA~ 8, 19~1, HIE THE P~POSE OF FUNDS WITH WHICH TO BUILD AND Pt~ttASE IMPROF~T3 AND EXT._ SI0~$ TO T~ WAT~OEXS SYSTEM A~ THE S~~ SY~T_W~ OF SAID CITY t tRESCRXBING THE ~ OF THE BONDS AND TI~ IN~T COUP(~! ~GING THE REVI~ES OF THE WA~0RKS S~ST~ AND SEg~ $~STEM TO PAY TItE PRINCIP~ OF AND IN~T ON SAID BONDS AFT~ 004 3 MAKING PRO. SION FOR THE EXPENSE OF Oi~{2tATING SAID ~NO OIaTAIN COFI~A~{TS OF SAID CIT~ WITH ~~ TO THE BOND FuND FROM k~4IOH SAID Ht]2~Oi~AL AND INT~T ARE TO BE PAID~ PRO~ING THAT THE HOL9~ OR HOLDERS OF ~AID BONDS SHALL ~~ HAVE THE RIGHT TO ~W~ID PAYM~T OF SAID LIGATION$ OUT OF ANY FUNDS RAISED OR TO BE RAIS~ BY TAXATION~ ltEi'gALIN~ ALL ORDINANC~ RESOLUTI~S AND ORDERS IN CON. CT H~tE~I~{ ARD DEOXARING AN WH~FAS~ the City Council of the City of College Station, Texas, has heretofore on the llth day of De~mber~ 19~0~ adopted a resolution and order ~j.ling an e.leo~~ on the questions of the issuanee of revenue bonds of the City of College StatAon in the amount of $70,000.00, bearing interest at a rate not to ex.eed three and one-~f (3-1/2%) per cent per annum, and maturing serially ~ver a period of years not to exceed thirty (30) years from their date~ for the purpose of seeuri~g funds with ~hi~ to b,ild and purchase improvements and extensions to the electric light System of said City; and the ~~oe of revenue i~nds of the Ci.ty of College Station in the amount of $20~000.00, _bearing interest at a rate not to exceed thee and one-~f (3-1/2%) per eent per amman, and maturinc se~_ially over a period of years not to exceed thirty (30) years from their date, for the purpose of securing funds with whieh to construct improvements and extensions to the waterworks sys~ of said City; and the issuance of revenue bonds of the City of College Station in the amount of $110,000._00, bearing interest at a rate not to exceed three and one-l~f'(3-1/2%) per cent per an~.um~ and maturing serially over a period of years not to exceed thirty (30} years from their date, for the purpose of securing funds with ~ich to construct improvements and extensions to the sewer system of said City; and ~t~:~, said election vas held pursuant to said resolution order, and .~n ao~o~ with law, on the 8th day of January, 19~1, and resulted favorably to the issuance of said revenue bonds; and WH~EA~, the City Council has heretofore adopted a resolution declaring t~.e result of said eleot~o~ and determining the specific authority o~ the City to issue said bondst and :! ~[~tgA~, by ordinance adopted on the 12th day of February, 19~1, as amended ~y ordinance adopted on the 12th day of Mar~h, 1951, the City Counei~ authorized the issuanee of $60,~.~ of the bonds so authorized gt said election, mmh bonds being known as CITY OF COLLEGE STATION ~ATERWORKS AND S~ SYSTEM ~ BONDS, dated February 1~ 1951, ~kioh bonds were duly approved by the Attorney General of the State of Texas on Mar~h 21, 1951, (#3~06~ Book ~9), and registered by t/~e State Comptroller (Register No. 27373), and sold and delivered; and /0 and to the ~aterworks system of the Oily and to fiaanoe same by the issuanoe and sale of $30,000 of bonds so authorized at said eleotion held on Jarmary 8, 19~1~ amd ~fH~~S, the City Counoil i~lnds and dete~es that the revenues of the watert~rks and sewer system for a period of ~ve (12) months immediately preeeding the adoption of this. ordinanee, after deducting the reasonable cos~, of operating and maintaining the System, axe equal to at least 1.~ tames the average aanual require~eats of prinoipal amd interest on the outstazding boads of the Waterworks and Sewer Systmu .Revenue Bonds, dated Febrtmr2 1, 19gl, and the additional bonds to be issued and sold at this time~ and that all req~ payments into the Bond ~and of such issue payable from the revenues of the Water- works and sewer System have been made! and Wt~S, it is now necessary and proper that the City Council pro- teed with the issuanoe of such additional boxY; · ~ IT ORDAINED BY THE CITY COL~NCIL OF THE CITY OF CO~ STATION, TEXAS~ le That purer to the Constitution and Statutes of the State of Texas, inoluding partioular~ Articles 1111 - 1118, both inclusive, of the Revised Civil Statutes of Texas, 192~, as amendS, and in aooordanee with t~e election held for that put. se, there shall be issued CITY OF STATION WATEP~OEK$ A/~) ~ER SYSTEM ~ BONDS, ~&2I~ II OF 19~1~ to be num]~~ oonseeutively ~ 1 to 30, inolusive, in the demmtm~~ of One Thousa~ ($1~000.00) Dollars eaoh, aggregating ~Lrt¥ Thmmamd ($30,000.00) Dollars; said ~mds eonstituting the seeond series by the Oity of Oollege Station out of an issue in the total prinoipal amount of $200,000.00, authorised at an eleetion held in said City on January 8, 19~1, for the purpose of securing fUads with ~hi~ to build and pm~ha~ impa~vements and extensions to the eleetrie light system, and oonstruct improvements and extensions to the ~aterworks sFstem and the sewer system of said Oit¥. II. That said bonds s~mll be dated August 1, 19~1, and shall bear interest from date until paid at the rate of three and one-half (3-1/2%) per cent per annum; interest shall be ~yab.le Yebx'usz~ 1, 19~2 and semi-arm~ thereafter on August 1st and FetA~_-.ry 1st in each year, such interest to be evidenced by proper ooupons attached to each of said bonds; the prinoipal of and interest on said bonds shall be payable in lawft~ money of the United States of America upon presentation and surreeder of the bonds or proper ooup~ns at the College Station State ~, College ~tati~n, Texas, or at Dallas ~ational Bank, Dallas, Texas, at +.he option of the holder. III. Tha~ said bonds shall ma~ur~ as follows: bIA.~TTM., n~ ~ ~ February 1~ 19,5,~ ~ 1,000 6 Feheuary 1, 19~ 1,000 ? ~e~ i, ig~S 8 1,000 ~eheuary 1, 19~ 1,000 9 February 1, 1960 1,000 10 February 1, 1961 1,000 11- 12 February 1, 1962 2,000 13- 14 February 1, 1963 2,000 1~- 16 Februa~j 1, 1984 17- 18 Fehruax7 1, 1965 2,000 19- 20 Fehrua~ 1, 1966 2,000 21- 22 Fehruar~ 1, 1967 2,000 2~- 26 February 1, 1969 2,000 27- 28 February 1, 1~70 2,000 29--30 FehraarF 1, 1971 2,000 ~ith Bonds Nos. 21 to 30, inclusive, optional on FelmmmxW 1, 1966, or on an~ interest payment date ~. IV. That each of said bonds shall be signed by the f~ayor and oountersigned by the City Secretary, and the eorporate seal of the ~it~ of College Station, Texas, shall he impressed upon eaeh of said bonds. That the fae- a/zflle signatures of ~he ~vor and ~W ~orotary my be printed, engra~ or li thograt2u~ upon the ooupons attached ~o said bomls ~ shall have the same effect as if ~my had been aigned by said officials. 00496 That tho form o£ said bonds shall be substantially as £ollows~ UNiT~ STATES OF STATE OF TEXAS COUNTY OF BR~ZOS CITY OF COLLF~ STATI(~ WA~ORX$ AND ~E THE CITY OF COLI~XIE STATI0~, in the County of Brazos, in the State of Texas, F~ YAI~E ~, hereby aeknmR~es itself speei~ fUuds hereinafter speeifled, the sum of ($l,000.00), in lawful mcaey of the United States of America, on the 1st day of February, 19 ~ and to pay interest thereon ~ date hereof at the rate of three and one-~f (3-1/2%) per cent per annam, ~ble Feba-aar'y 1, 19~2 and semi-~~:~y thereafter on August 1st and Fe~ 1st in each year, until the principal sum shall be paid, upon the presentaticm and surrend~ of proper ooupons as they seventy bec~ due~ both principal ar~ interest be~_ng payable at Colle~ Stafgon State Bank, College Station, Texas~ or at Dallas National Bank~ Dallas, Texas, at the option of the ~older. THIS BO~ is one of a series of t~irty (30) ~omas, nambered consecutively from One (1) to Thirty (30), inelusive, in the denm~uation of one ~housand ($1,000.00) m~llars eaa~, aggr~gating Tmtrty ~h~usand ($30,000.00) Dollars, constituting the sec~ series of beads issued by the City of College Station out of an issue in the total prineipal ~t of $200,000.~ authorized at an election held in said e/t¥ on January S, 19~1, for the I~trpose of securing ftu~$ with ~d~t~h to build and pax~tmse improvements and extensions to t~e electric light system, and construct impmovemen%s ~ extensions to the ~atereorks system and the sewer system of said City, in accordance with the Constitution and Laws of the State of Texas, including partic~ly Articles 1111 - 1118, OO427 /¥ ~oth inalusive~ of the Rerlsed C~vil ~ta~utes of Texas~ 1~~ as a~eaded~ the authority of a ~ote of the qualified electors of the C~ty of Gollege Station, vho ovned taxable property in said City. and vho had duly. rende~ the Mine for taxatio~, voting at a~ eleetion held on the 8th day of January, 19~1, and purer to an ordinance passed by the City Council of The City of ~ollege Station, Texas, duly reeorded in the Minutes of The date of this bond, in conformity vith said ordinance ~ is August 1, This ~~ and the series of vhieh it is a part~ together with th~' outstanding City of College Station Waterworks and Sewer S~stem Reve~ Bonds, dated February 1, 19~1, anns~tute speei~ obligation of the City of College Station~ Texas, payable solel~ from and semured by an ~ustve first lien on and pledge of the revenues of the ~a~rwo~ks amd ~ aystem of said City~ after deduatica of reasonable operati.oa and maintena~e expenses~ provided, that the remaining ~s in the aggregate amount of $~10,000.00, authorised a~ said election held on the 8th day of January, 19~1~ ~hen and if issued and sold ahall be on a parity ~ith the bczds of this series~ and the afo~emeatiomed ~aterworks and Sewer System Revenue Bonds, dated Februar2 1, 19~1. The holder hereof shall never have the right to demand payment of this obligation out of arcf fUads raised or to be raised by taxation. The CAt~ of College Station reeerves the right to redeem this bond on February !,. 1966, or on any interest paymant date thereafter, by pa2ing priaoipal aad aoe~ interest thereoa, aad in the event ~ is ealled for zldempttca prior to its maturity, nottee thereof in writing ahall be given by the Gity Secretary to the ~cllege Station State Bank, C~llege Station, Texas, and to Dallas Natioaal ~Mnk, Dallas, Texas, at least thirt~ (30) days prior %0 the date fixed for redemption, and notice shall also he given by ~li~~m of a eo~ of said notice in a flJ~aoial j mumal published in the State of Texas one time at least ~ (~) clJ~s prior to the date fixed for ~em~oGj K~d ~ this bored not be presen~ for redemption, it shall eease to bear interest ftmn and after the date so fixed for redemption. (~o~E_ TO_ ~~~, The above ~ragraph applies only to Bonds NOl. 21 to 30, iru~l~~). AND IT IS ~ GE~TIFIED THAT the issuance of this bond ~f~ ~ ~~ ~ due ~, f~~ ~r as ~~~ ~ ~ ~ for ~ ~nt of ~ ~i~ ~ ~~~st of ~s ~ ~ ~e ~es of ~~ it is a .~t-, ~ ~~~~ ~~~ ~ ~s of ~ ~~r~ ~ ~ ~s~ of ~e Oi~ of O~ S~~~, ~s IN TEST~ I~~F, the City Council of the City of College Station, Texas, has caused the seal of said City to be impressed hereon, by the Ci$~v ~ecretary, and has eaused the annexed interest coupons to be signed by the facsimile sigaature, of the F~yor ar~ City Secretary COU~T~I~N~D ~ Stat~on~ Texas That the form of said coupm~s attached to said bonds shall be substantially as follows, f-..:__-1 i ......... . _.--- Jl 0~ THE lST DAY OF The City of College Station, Texas, will pay to bearer out of fends spe~ifl~ in the bond to ~d~tch this coupon is attached at the College Station State Bank, College Station, Texas, or at Dallas National Bank, Dallas, Texas, at the option of the holder, the sum of mon~m' interest due that day an CITY OF COL~ STATIO~ HA~~ AND SD~ SYST~ REF~UE B0~D, ~ I1 OF 19~1~ NO..._~ dated August 1~ 19~1, to which this eou~ is attaahed and is a part thereof. The holder hereof ahall never have the right to demamd payment of this obligation out of auy funds raised or to be raised by taxation. 0.0499 o ,-cone 'e - t Uon, Texas That substantiall~ the following certificate s~ll be printed on the back of eaeh bond~ OFFICE OF STATE OF T~XAS I HEREBY O~TII~ that there is on file and of reooz~ in m7 offioe a certificate of the Attorney C~ of the State of Texas to the effect that this bond has been examined by him as required by law, and that he finds that it has been issued in conformity with the Constitution and Laws of the State of Texas, and that it is valid a~ binding special obligation of sai~ City of College Station, Texas, payable from the revenaes pledged to its pa2~zent by and in the ordinance authori~Lng same, and said bond has ~s day been registered by me. WIT~ESS ~ HA~ and seal of office at Austin~ Texas, this ............. ~ ..... C~aptroller of ~hlio lee~~,s of The State of Texas VIII. In this ordinance the term "syste~' shall include and ~ the watem~orks system and the sewer system of said City, together with an a~dittons and extensions t~,ereto and i~provements and replaeements thereof. IXe The City Council shall at all times, while any of said bo~ds or a~ ~'~erest thereon are outstay, and uapaid, charge and collect for depreoiation~ replacement~ betterman'[~ and interest charges~ and for Interest and Sinking F~ sufficient to pay the interest and prin~pal of said bonds as such principal and interest matures and accrues and a~ outstanding indeb~ess against the Syst~, a~ is r~lU.t~ b7 Article 1113, Revised Civil Statutes of Te~, 1925, and amendments thereto. For the l~it of the original pure~~r, and for the benefit of an~ and all subsequent holder; off said bond;~ coupo~,~ or a~y part th®reo£~ an~ in addition to all other provisions m~d covenants ~n the la~e of the State of Texas and in this ordinance, it is expressly sttpalated~ A. J~ The City shall ~fix abd maintain rates and collect charges for the faeilities and serviees afforded by the System which will provide revenues sufficient at all times~ (1) To pay all operation, maintenance, depreciation, ~eplaoe~:nt and betterment charges of the System. (2) To establish and maintain the Bor~ Fund. (3) To pay all outstanding indebtedness against the Sys~, other than bonda, as and when the same bec~ due. Provided also, that no free servie~ of.. the System shall"be allowed~ and sh~ the City or any of its agencies or instrumen~ties make use of the services and facilities of the System, payment of the reasonable value thereof shall be made by the City out of funds derived from sources other than the revenues and income of the System. B. ~SE O~F...~s The City will deposit as collected all revenues derived from ~;e operation of the System into a separate account (herein called the "System Ftmde ) which shall be kept separate and apart frem all other funds of the City. The ~ystem Fund shall be administered as follows, (1) _~..~d. ~.~P~_.~ From the funds in the System Fund, the City shall pay into the Bond Fur~ during each year in which any of the bonds herein authorized and the Wate~rks and Sewer System Revenue Ben~s, dated February 1, 19~1, are outstanding, ccemancing with the date of the delivery of the bonds herein authorized to the purchasers thereof, an amount equal to 100 per centum of the amounts required to meet the interest and principal payments falling due on or before the nemt maturity date of the bends. In addition to such payment~ the City shall pay into the ~ond Fand fram the System ~nd in each year twenty (20%) per centum of the above required am~t until such time as there is in the Bond Fbnd an ammmt sufficient to meet the interest and principal payments falling due on or before the next maturity date of the bonds and the interest and principal pa2ments on the bonds for .one year thereafter. O0431 The amount required to be paid into the Bond Fund in eaoh year shall- be paid in substantially equal monthly pa~ents from the moneys in the Sys~ Fund, after deductions have been made for paying the rea~ble cost of t~e operating and maintaiuing of the System for such month. If the revenues of the System in any ~o~$~A, after deductions for operation and main~, are insufficient to make the requi~ed payment into the Bond Fund, then the amount of any deficiency in the payment shall be added to the amount othe~se required to be paid into the Bond FUnd in the next ]nont~e It is the intent of this provision that the su~s paid into the Bond Fur~ aba~...~ be in exoess of the immediate requirements for payment of interest on and principal of the bonds until there has been aceumulated in the Bond Fm~t, as a reserve for eontingeneles, an amount suffieient to service ~e bonds for one year. The moneys in the Bond Fund ahall be used solely for the purpose of pa~ng interest on and prinoipal of the bonds until all the bonds have been retired~ provided, that, ~hen the total in the Bond Fund is equal to the aggregate principal amount of the bonds o~.tstanding plus accrued interest thereon, the moneys in the Bond Fund may be used to purchase said bonds at a price, exclusive of accrued interest, not ex~eedin~ t~e principal amount thereof, or to redeem ~.td bonds in aecordanoe with th~ redemptic~ provision contained in Section III of this ~nanoe. The moneys paid into the Bond Fund aha21 be deposited in a bank ac banks and shall be ~ontinuousl~ seeured by a valid pledge to the City of Dire~t obli~~~ of the United States of America, having an aggregate market value, exclusive of accrued interest, at all times at least equal to suoh Band Fund. The Bond FUnd, at the option of the City~ may be invested in such dire~t obligations of the United States of America and deposited in esero-~ under an escrow agreement. If such funds are so invested and deposited in escrow, the Oity shall have the right to have sold through the eserow agent on the open market a suffieient amount of said seourities in order to meet its obligations of prix~ipal and interest in event it does not have sufficient x~Unds, uninvested, on hand for such purpose. Under such circ~s~~s, the ~V~yor is hereby authorized, ordered and direeted to give fifteen days notice to such escrow agent of the neoesaity to sell said securities on the Open market. After such sale, the moneys resulting therefrom shall belong to the Bond FUnd and sha3.l be available to pay suoh obligations of principal and interest. (2) ~,_~n~_,:.~, Any fur~s remaining in the System FUnd, after pro- vision for the reasonable oost of operating and maintaining the system~ and after paying the amounts required to be paid into the Bond Fund hereto- fore established for the CITY OF COLLEGE STATIO~ ~A~ORXS AND ~ SYSTEM REV~E BONDS, dated February 1, 1951, under the terms and provisions of the ordi~e authorizing said bonds, and after paying the amounts required to 00432 [A~visim ooafAtned in Seet~m iii of this ordinanee~ or fee any It is umier~~ ~d acreed ~t ~e be on a parity ~i~'~ the series of City of am/ ~ ~]fs~ ~tevenue Dor~s, dated Fehruax~ 1, 19~, heretofore 00433 in good ean~ition and operate the same in an efficient man~er and a~ a reasonable cost. ~o long as any of the bonds are ou%standing~ ~ City agrees to maintain in--ce for ~e bamefit of the holder or holders of the bonds~ on the Sys~, of a kind and in an amount whi~ u~m3.1y would ~e ~ried by private companies engaged in a similar type of business. Nothing in this ordinance shall ~e con- s~ as re~uiring the Oity to expen~ ar~ fan~s ~hi~ are derived from sources other than the oparatton of the System, but nothing herein shall he construed as preventing the Oity from doing so. E. .__A~.~?a._~.. ~OnTC .~?A~?~, The City s2~ll keep ~o~r ~~~ts) ~ ~~ o~~e~ ~ co~t en~es ~ ~ ~e of ~ ~~ons ~~t~ ~ ~e ~s~. ~e City ~ ~~ to ~ ho~er of ~ of ~e ~s, at ~ ~t~ ~uest of ~ h~er, not ~ ~ ~rty ~vs ~r ~e ~ose of ~ ~ ~n~s' ~s~ ~~, c~~e~ o~~~ ~ i~~ s~~ents of ~e ~s~m ~ ~so~~e ~~1 o~ri~ ~~ s~ ~~s' ~~, ~, not ~~ ~ ~y ~s a~r ~e close of ~~ fis~ y~, =~~e~ ~i~ s~~ merits of ~e ~ys~ in ~so~ble de~ co~~~ ~~ ~s~ y~, ce~~~ ~ ~e ~i~'s A~~r. G. ~~.._T!.~ Upon written request, t~e Oity will f~-~sh to any par~haser of 25 per oe~t~ of the bon~s su~ ~al statements az~ other pertinent information and d~ta relating to the City ami System as such parchaser ~ time to time may reasonabl~ require. H. _~.___ _z~._ o~. ~, Upon reques% the Oily will ~sh to an~ purchaser of hol~er of 25 per eentum of the bonds, imformatton for the preparation of a bond circular in customa~j form, signed by t~Ae proper officials of the Oity, containing such data as ~ purchaser or holder ~ reasonably request concerning the Oily and the System. Xo The ~;~yor, City Secretam7 andOity Treasurer are hereby instructed directed to do any and all ~Lngs necessary and/r~r convenient in reference to the installing.,' and maintaining of a complete system of records and accounts pertaining to sai~ ~ystem an~ ~o make the moneys avail- able for the payment of sai~ revenue bonds in the .~nner provided by Chapter 122, Aot~ of t~ Regalar Session of ~he Fort~~d Legislature of Texas, effective May 12, 1933. In aeeordance, with the previsions of Article 1113, Revised Civil Statutes of Texas, as amerced, the fiscal year for '~[e operation of such System shall be ..July 1st to June .~0th of each year. XI. The City fur~er covenants by and through this ordinance as follows~ (a) That the revenue bonds authorized hereunder shall be special obligations of the City and tae holder thereof shall never have the right, to demm~l payment thereof out, of ~mts raised or to be rai~ by taxation. (h) ~aat it has the lawful power to pledge the revenues supporting this issue of bonds and has lawfully exereised said power under the Ccm- stitution amd laws of the State of Texas, including the power existing under Artieles 1111- 1118, bot~ inelusive~ 192~, Revis~ Civil Statutes of the State of Texas, with amendments thereto, and by authority of a vote of the qualified electors of said City voting at an election held in said 0ity on Januax~ 8, 1951; that the bonds issued hereunder sAu~l,l be ratably secured under said pledge of income in such manner that one bond shall ~ve no preference over ar~ o~'mr bond of this issue. (c) That other t~mm for the payment of the bonds herein provided for, and for t~e payment of the City of College Station Waterworks and Sewer System Revenue Bonds, dated February 1, 1951~ heretofore authorized and issued~ the rents~ reve~s ar~ i~mcme of the said System lmve not been pledged in any ~m~mner to ~e payment of any debts or obligations of the City, nor of said System. XII. It shall be t~m duty' of the ~or to suk~it t~ record of said bonds and the bonds to the Attorney General of the State of Texas for approval and thereafter to have ~en registered by the Comptroller of Pablic Accounts of the State of Texas. ~ien said bonds have been registered by ~ State Comptroller, the State Comptroller is hereby authorized ~ud instructed to deliver t~e bonds to t~e American l~ational Bauk~ Austin, Texas, ~here they will be taken up and paid for by the ~mrchasers. 00 .5 XIII. ~y reason of t~ fa~t t~t t~Ae City Council of ~e City of Oo~e~ S~~~, T~s, c~ders ~Ae ~~e of ~s ~~e ~ ~ is~ of ~d ~~s no~s~ f~ ~e ~se~~~ of ~e ~b~o h~~ ~ ~fety of ~e citi~us of ~d 0try, it is he,by dec~ ~ ~ ~ ~rge~y ~a~e d~~~i~g ~t ~ ~e ~~r~ ~es to ~ ~ a~ mo~ ~~ ~ mee~ng of ~e Gity Oo~cil ~ ~s~~, ~ ~t ~s o~~e ~e effect ~a~~ ~~ ~ ~r its ~s~ge, ~ it is so o~. PASSED Ah~D APPRO~, t~zis 18~:~ day of Auto, st, 1951. AT2EST~