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HomeMy WebLinkAbout1946-0094 - Ordinance - 12/30/1946ORDINANCE NO. 94. BOND ORDINANCE BY THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS, AUTHORIZING THE ISSUANCE OF BONDS FOR THE PRINCIPAL SUM OF $85,000.00, FOR THE PURPOSE OF CONSTRUCTING IMPROVEMENTS AND EXTENSIONS TO THE WATERWORKS SYSTEM AND THE SANITARY SEWER SYSTEM OF SAID CITY, AND PROVIDING FOR THE LEVY, ASSESSEMENT AND COLLECTION OF TAX ON ALL THE TAXABLE PROPERTY WITHIN THE LIMITS OF SAID CITY TO PAY THE INTEREST AND CREATE A SINKING FUND FOR THE REDEMPTION THEREOF; PRESCRIBING THE FORM QF BOND: AND DECLARING AN EMERGENCY. WHEREAS, The City Council of the City of College Station, Texas, has heretofore on the 19th day of November, 1946, adopted an order calling an election on the questions of the issuance of bonds of the City of College Station, Texas, in the sum of $35,000.00, for the purpose of constructing improvements and extensions to the waterworks system of said City; and the issuance of bonds of said City in the sum:: of $50,000.00, for the purpose of constructing improvements and extensions to the saintary sewer system of said City; and ._ WHEREAS, said election was held pursuant to said order and in accordance with the law on the 17th day of December, 1946, and resulted favorably to the issuance of said bonds; and WHEREAS, on the 19th day of December, 1946, the City Council adopted a resolution canvassing the returns of said election and declaring the result thereof; and WHEREAS, the City Council now deems it advisable and to the best interest of said City to issue said bonds as one issue of Waterworks and Sewer Bonds; THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS: I. That the bonds of said City, to be called "CITY OF COLLEGE STATION WATER WORKS AND SEWER BONDS, SERIES 1947," be issued under and by virtue of the Constitutioh and laws of the State of Texas, for the purpose of constructing improvements and extensions to the Waterworks System and the Sanitary Sewer System of said City. II. That said bonds shall be numbered consecutively from 1 to 85, inclusive; shall be of the denomination of One Thousand ($1,000.00) Dollars each, aggregating Eighty- five Thousand ($85,000.00) Dollars. That said bonds shall be dated January 1, 1947, and shall mature serially as follows; 00222 BOND NUMBERS 1 - 2 3-4 5-7 8 - 10 11-13 14-16 MATURITY DATES AMOUNTS V 6; March 1, 1948 $ 2,000 March 1, 1949 2,000 March 1, 1950 3,000 March 1, 1951 3,000 IViarch 1, 1952 3,000 March 1, 1953 3,000 17 - 20 March 1, 1954 4,000 21 - 24 March 1, 1955 4,00.0 25 - 28 March 1, 1956 4,000 29 - 32 March 1, 1957 40000" 33 - 36 March 1, 1958 4,000 37 - 40 March 1, 1959 4,000 4]. - 45 March 1, 1960 53900 46 - 50 March.1, 1961 5,000 51 - 55 March 1, 1962 5,000 56 - 61 March 1, 1963 6,000 62 - 67 • March 1, 1964 6,000 68 - 73 March 1, 1965 6,000 74 - 79 March 1, 1966 6,000 80 - 85 March 1, 1967 6,000 IV. That said bonds shall bear interest from date as follows: Bonds Numbers 1 to 13, inclusive, at the rate of two (2%) per cent per annum, Bonds Numbers 14 to 55, inclusive, at the rate of two and three-fourths, (2-3/4%) per annum, and Bonds Numbers 56 to 85, inclusive, at the rate of three (3%) per cent per annum; interest payable March 1, 1948, and semi-annyally thereafter on September 1st and March 1st in each year. V. Principal and interest on said bonds shall be payable upon presentation and surrender of bond or proper coupon at First National Bank, Houston, Texas. VI. That each of said bonds shall be signed by the Mayor, countersigned by the City Secretary, and the corporate seal of the City of College Station, Texas, shall be impressed upon each of them. VII. That the coupons attached to said bonds may be executed by the facsimile signatures of the Mayor and City Secretary, and shall have the same effect as if they had been signed by said officers. VIII. The form of said bonds shall be substantially as follows: 00223 NO. $1, 000.00 UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF BRAZOS CITY OF COLLEGE STATION WATERWORKS ORKS AND SEVER BOND SERIES 1947 KNOW ALL MEN BY THESE PRESENTS: That the City of College Station, in the County of Brazos, State of Texas, a municipal corporation duly incorporated under the laws of the State of Texas, vOR VALUE RECEIVED, hereby promises to pay to the bearer hereof on the lst day of March, 19 , the sum of ONE THOUSAND DOLLARS U1,000.00), in lawful money of the United States of America, with interest thereon from date hereof at the rate of ( p) per cent per annum, interest payable March 1, 1948 and semi-annually thereafter on September lst and March lst in each year, principal and interest payable upon presentation and surrender of bond or proper coupon at the First National Bank, Houston, Texas, and the City of College Station, Texas, is hereby held and firmly bound, and its faith and credit, and all real and personal property in said City, are hereby pledged for the prompt payment of the principal of this bond and the interest thereon at maturity. This bond is one of a series of 85 bonds, numbered from 1 to 85, inclusive, of the denomination of One Thousand ($1,000.00) Dollars each, aggregating Eighty-five Thousand ($85,000,00) Dollars, issued for the purpose of consturcting improvements and extensions to the waterworks system and the sanitary sewer system of said City, under and by virtue of the Constitution and Laws of the State of Texas, and in pursuance of an ordinance passed by the City Council of the City of College Station, Texas, wihc ordinance is of redord in the Minutes of the said City Council. IT IS HEREBY CERTIFIED AND RECITED that the issuance of this bond, and the series of which it is a part, is duly authorized by law and by a vote of the qualified property taxpaying voters of the City of College Station, who owned taxable property in said City and who had duly rendered the same for taxation, voting at an election held for that purpose within said City on the 17th day of December, 1946; that, all acts, conditions and things required to be done precedent to and in the issuance of this series of bonds, and of this bond, have been properly done and performed and have happened in regular and due time, form and manner as required by law; that sufficient and proper pro- vision for the levy and collection of taxes has been made which :.hen collectea shall be appropriated exclusively to the p:.yment of this bond, and of the series of which it is a part, and to the payment of the interest coupons hereto annexed as the same shall become due; and that the total indebtedness of said City of College Station, including the entire series of bonds of ,rhich this is one, does not exceed any constitutional or statutory limitation. IN WITNESS 'WHEREOF, the City of College Station, by its City Council, has caused its corporate seal to be affixed hereto, and this bond to be signed by its Mayor, countersigned by its City Secretary, and the interest coupons hereto attached to be executed by the facsimile signatures of the Mayor and City Secretary; the date of this bond, in conformity with the ordinance above referred to, being the 1st day of January, 1947. COUNTERSIGNED Ernest Langford, Mayor Signed N. M. McGinnis , City Secretary Signed 00224 IX. The form of coupon shall be substantially as follows: NO. On the 1st day of , 19 , The City of College Station, Texas, promises to pay to bearer at the First National Bank, Houston, Texas, the sum of ($ ) Dollars, in lawful honey of the United. States of America, being months' interest on thc; CITY OF COLLEGE STATION WATERWORKS AND SEWER BOND, SERIES 1947, dated January 1, 1947, No. . X. Ernest Langford. Mayor Signed N. M. McGinnis, City Secretary Signed Substantially the following certificate shall be printed on the back of each bond: OFFICE OF COMPTROLLER STATE OF TEXAS I HEREBY CERTIFY that there is on file and of record in my office a certificate of the Attorney General 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 a valid and binding obligation upon said City of College Station, Texas, and that sL,id bond has this day been registered by me. WITNESSS MY HAND and seal of office, at Austin, Texas, this Comptroller of Public Accounts of The State of Texas. XI. IT IS FURTHER ORDAINED BY the City Council of the City of College Station, that while said bonds, or any of them, are outstanding and unpaid, there shall be annually levied, assessed and collected, in due time, form and manner, a tas upon all the taxable property in said City of College Station, sufficient to pay the current interest thereon and create a sinking fund sufficient to pay each installment of the principal as the same becomes due, and to pay the interest on said bonds for the first becomes due, and to pay the interest on said bonds for the first year and ,.o create a sinking fund with which to pay the principal as the same becomes due, there is hereby levied a tax of 41 Cents on each $100.00 valuation of taxable property in said City for the year 1947, and the same shall be assessed and collected and applied to the purpose named; and while said bonds, or any of them, are outstanding and unpaid, a tax for• each year at 00225 a rate from year to year, as will be ample and sufficient to provide funds to pay the current interest on said bonds and to provide the necessary sinking fund, full allowance being made for delinquencies and costs of collection, shall be, and is hereby levied for each year, respectively, while said bonds, or any of them, are outstanding and unpaid, and s‘id tax shall each year be assessed and collected and applied to the payment of the interest on, and principal of, said bonds. XII. It is further ordained that the Mayor of said City shall be authorized to take and have charge of all necessary records pending investigation by the Attorney General and shall take and have charge and control of the bonds herein authorized pending their approval by the Attorney General and registration by the Comptroller of Public Accounts. XIII. It is further ordained that all ordinances and parts of ordinances in conflict herewith are hereby expressly repealed. XIV. The fact that the City of College Station, Texas, is badly in need of the improvements herein contemplated, and said improvements will be to the best interest and general welfare of the said City creates an emergency and general welfare of the said City creates an emergency and an imperative public necessity that the rule recuiring ordinances to be read at more suspended, and said rule is hereby suspended, and that this ordinance take effect and be in full force and effect immediately from and after it passage at this meeting, and it is so ordained. PASSED AND APPROVED, this 30th day of Dece .er, 19. ATTEST: LAL, City Secretary Mayor, City of Colleg Station, 026 AN ORDINANCE Mo. 94 BY-THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS AUTHORIZING THE ISSUANCE OF BONDS FOR THE PRINCIPAL SUM OF $85,000.00, FOR THE KNO'I7 ALL MEN BY THESE PRESENTS: That the City of College Station, in the County of Brazos, State of Texas, a municipal corporation duly incorporated under the lwas of the State of Texas, FOR VALUE RECEIVED, hereby promises to pay to the bearer hereof on the 1st day of March, 19 , the sume of ONE THOUSAND DOLLARS ($1,000.00), in lawful money of the United States of America, with interest thereon from date hereof at the rate of (, %) per c nt per annum, interest payable March 1, 1948 and semi-annually thereafter on September 1st in each year, principal and interest payable upor-presentation and surrender of bond or proper coupon at the First National Bank, Houston, Texas, and the City of College Station, Texas, is hereay held and firmly bound, and its faith and credit, and all real and personal property in said City, are hereby pledged for the prompt payment of the principal of this bond and the interest thereon at maturity. This bond is one of a series of 85 bonds, numbered from 1 to 85, inclusive, of the denomination of One Thousand ($1,000.00) Dollars each, aggregating Eighty- five Thousand ($85,000-.00) Dollars, issued for the purpose of constructing improvements and extensions to the waterworks system and the sanitary sewer system of said City, under and by virture of the Constitution and Waws of the State of Texas, and in pursuance .of an ordinance passed by the City Council of the City of College Station, Texas, which ordinance is of record in the IGinutes of the Said City Council. I1 IS HEREBY CERTIFIED aND RECITED that the issuance of this bond, and the series of which it is a part, is duly authorized by law and by a vote of the qualified property taxpaying voters of the City of College Station, who owned taxable property voting at an election held for that purpose within said City on the 17th day of December, 1946; that all acts, conditions and things required to be done precedent to and in the issuance of this series of bonds, and of this bond, have been properly done and performed and have happened in regular and due time, form and manner as required b,; law; that sufficient and proper provision for the levy and collection of taxes has been made which when collected shall hr arpropriated exclusively to the payment of this bond, and of the series of which it is a part, and to the payment of the interest coupons hereto annexed as the same shall become due; and that the total indebtedness of sAd City of College Station, includin'• the entire series of bonds of which this is one, does not exceed any constitutional or statutory limitation. IN WITNESS WHEREOF, the City of College Station, by its City Council has caused its corporate seal to be affixed hereto, and this bond to be signed by its Mayor, countersigned by its City Secretary, and the interest coupons hereto attached to be executed by the facsimile signatures of the Mayor and City Secretary; the date of this bond, in conformity with the ordinance above referred to, being the 1st day of January, 1947. r . • 11!, Signed, Mayor, City of College Station, COUNTERSIGNED: N- M G,,a �,,. Signed, City Secretary I%. The form of coupon shall be substantially as follows: NO. $,,.. ,.. ,... On the let day of .... ., .... , .,., , 19,_, The City of College Station, Texas, promises to pay to bearer at the First National Bank, Houston, Texas, the sum of ($ ) Dollars, in lawful money of the United States of erica, being months' interest on the CITY OF COLLEGE STATION WA Dr WOAND SEWER BOND, SERIES 1947, dated January 1, 1947, No. L .f r Signed N. M. McGinnis, City -cret- Signed X. Substantially the following certificate shall be printed on the back of each bond: OFFICE OF COMPTROLLER STATE OF TEXAS I HEREBY CERTIFY that there is on file and of record in my office a certificate of the Attorney General 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 a valid and binding obligation upon 'aid City of College Station, Texas, and that said bond has this day been registered by me. WITNESS MY HAND AND seal of office, at Austin, Texas, this Comptroller of Public Accounts of The State of Texas. %I. IT LS FURTHER 10 ,AINED by the City Council of the City of College Station, tetnwhileysaid bods, or of them, are outstanding and unpaid, there l. that her tax1 ied assessed and collected, in due time, form and manner, a nu upon all the t dole property in said City of College Station, sufficient to pay the current interest thereon and create a sinking fund sufficient to pay each installment of the principal, as the se becomes due, and to pay the interact on said bonds for the firt year and to create a sinking fund with which to pay the principal, as the same becomes due, there is herebya taxof levied Cents on each $100.00 valuation of taxa ale property in said City for the year e shall be assessed �d collected and applied to the purpose 1947,named;.; d0 thesm while said bonds, or any of them, - e outat .ing and unpaid, a tax for each year at a rate from year to year, pr ide a s to pthe .rent interest onssaid lbonds be mand todprovide ithe to 00212 necess sinking f r., full allowance being made for delinquencies and costs of collection, shall be , and is hereby levied for each year, respectively, while said bonds, or any of them, are outstanding and unpaid, and siad tax shall each year be assessed and collected and applied to the payment of the interest on, and principal of, said bonds. XII. It is further ordained that the Mayor of said City ehall be authorized to take and have charge of all necessary records pending investigation by the Attorney General and shall take and have charge and control of the bonds herein authorized pending their approval by the Attorney General and registration by the Comptroller of Public Accounts. XIII. It is further ordained that all ordinances and parts of ordinances in conflict herewith are hereby expressly repealed. XIV. The fact that the City of College Station, Texas, is badly in need of the im,: ovements herein conte .o laced, and said improvements will be to the best interest and general welfare of the said City creates an emergency and an imperative public necessity that the rule requiring ordinances to be read at more that one meeting of he City Council before final passage be suspended, and that this or = 'es take effect = r»`- be in full force and effect immediately from and after its passage at this meeting, and it is so ordained. PASSED AND APPROVED, this 30th day of December , 19a 0 Signed ATTEST: N e 4 *° et Signed ,,.