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HomeMy WebLinkAbout1962-0349 - Ordinance - 06/15/1962BOORUM & PEASE UJ (ii LL The Mayor thereupon announced that the motion had duly and 0. lawfully carried, and the the ordinance had been duly and lawfully adopted. The ordinance thus adopted follows: AN ORDINANCE AUTHORIZING AND DIRECTING THE ADVERTISEMENT OF THE SALE OF CITY 0 OF COLLEGE STATION, TEXAS, REVENUE BONDS; CONTAINING OTHER PROVISIONS RELATING o THERETO; AND PROVIDING THAT THIS ORDINANCE SHALL TAKE EFFECT FROM AND AFTER ITS PASSAGE. ORDINANCE NO. 349 AN ORDINANCE AUTHORIZING AND DIRECTING THE ADVERTISEMENT OF THE SALE OF CITY OF COLLEGE STATION, TEXAS, REVENUE BONDS; CONTAINING OTHER PROVISIONS RELATING THERETO; AND PROVIDING THAT THIS ORDINANCE SHALL TAKE EFFECT FROM AND AFTER ITS PASSAGE. THE STATE OF TEXAS i COUNTY OF BRAZOS The City Council of the City of College Station, Texas, con- vened in regular session at the City Hall within said City on the 15th day of June, 1962, with the following members present, to -wit: Ernest Langford Mayor J. A. Orr Councilman Carl W. Landiss Councilman D. A. Anderson Councilman A. L. Rosprim Councilman A. P. Boyett Councilman K. A. Manning City Secretary and the following member absent, to -wit: Joe H. Sorrels, when the following, among other business, was transacted: The Mayor introduced an ordinance which was read in full. Council- man Anderson made a motion that the ordinance be adopted as read. Councilman Rosprim seconded the motion for adoption of the ordinance. The motion, carry- ing with it the adoption of the ordinance, prevailed by the following vote: AYES: Councilmen Orr, Landiss, Anderson, Rosprim, and Boyett. NOES: None The Mayor requested that he be recorded as voting 'Aye'. WHEREAS, pursuant to an ordinance heretofore adopted and to an election held in the City of College Station, Texas, on the 1st day of December, 1954, revenue bonds in the amount of $300,000 have been authorized for the purpose of constructing improvements and extensions to the existing sanitary sewer system of said City, said 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, and said bonds to mature serially within 30 years from their date or dates and to bear interest at a rate not to exceed 4% per annum; and WHEREAS, pursuant to ordinance adopted on the 25th day of January, 1955, by the City Council of said City, a portion and first install- ment of $265,000 bonds out of said total authorized bonds have been authorized, w issued, sold, and delivered, the bonds of the first installment being more (I) particularly described as follows: CITY OF COLLEGE STATION ELECTRIC LIGHT AND POWER 61 SYSTEM REVENUE BONDS, SERIES 1955, dated February 1, 1955, numbered consecutively from 1 to 265, both inclusive, in the denomination of $1,000 each, aggregating $265,000, bearing interest per 8 annum at the following rates: 2-3/4%, 3%, and G1 3-1/4%, and maturing serially on February 1st in each of the years 1956 to 1984, both inclusive, which bonds were approved by the Attorney General of the State of Texas on the 17th day of February, 1955, and registered by the Comptroller of Public Accounts of the State of Texas on the same date under Registration Number 30184; and WHEREAS, the City Council has determined, and hereby affirma- tively determines, that the remaining $35,000 authorized bonds should now be issued so that the voted purpose can be continued and completed; and WHEREAS, it is provided in section 65 of Article VI of the Home Rule Charter of said City that bonds shall be advertised once a week for two consecutive weeks, the first publication to be at least fourteen (14) 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; and t WHEREAS, the City Council wished to authorize and direct the 1 ft advertisement for sale of said remaining $35,000 authorized bonds; THEREFORE it BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF COLLEGE S'AMION ote Section 1: That the Mayor of the City of College Station, Texas, U.1 is hereby authorized and directed to cause to be published an advertisement U) of sale, in substantially the following form, in The Battalion, the official I� newspaper of said City, on the same day in each of two (2) consecutive weeks, the first publication to be at least fourteen (14) days prior to the time e5 set for the sale of said bonds: 00527 0 L'� NOTICE TO BIDDERS The City of College Station, Texas, will receive sealed bids at the City Hall, College Station, Texas, at 7:30 o'clock, p.m. on the 20th day of July, 1962, on the following revenue bonds of said city: $35,000 City of College Station, Texas, Electric Light and Power System Revenue Bonds, Series 1962, to be payable from and secured by a pledge of the net revenues of the operation of the electric light and power system of said City, and to be issued for the purpose of constructing improvements and extensions to the existing sanitary sewer system of said City. Said bonds constitute a second and final installment of bonds out of a total of $300,000 bonds authorized at an election held on the 1st day of December, 1954, $ 265,000 bonds having heretofore been issued, and these bonds and the outstanding bonds will be on a parity with one another. Complete financial statements, terms of sale, and bid forms may be secured from Mr. Ran Boswell, City Manager, City Hall, College Station, Texas, or from Moroney, Beissner & Co., Inc., 1300 Bank of the Southwest Building, Houston 2, 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 the 15th day of June, 1962. ATTEST: j: /;% City Secretary APPROVED: Mayor