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HomeMy WebLinkAbout1976-1030 - Ordinance - 06/02/1976THE STATE OF TEXAS 9 COUNTY OF BRAZOS § The City Council of the City of College Station, Texas, convened in special session, open to the public and duly noticed in accordance with Article 6252-17, V.A.T.C.S., as amended, at the regular meeting place thereof in the City Hall, within said City, on the 30th day of June, 1976, with the following members present, to -wit: Lorence L. Bravenec Mayor Gary M. Halter Councilman Lane B. Stephenson Councilman Larry J. Ringer Councilman J. R. Gardner Councilman Ms. Anne Hazen Councilman James H. Dozier Councilman and the following members absent, to -wit: when among other business, the following was transacted, to -wit: The Mayor introduced an ordinance which was read in full. Councilman h, moved that the ordinance be adopted as read. Councilman seconded the motion for adoption of said ordinance. The motion, carrying with it the adoption of the ordinance, prevailed by the following vote: AYES: u C' NOES: The Mayor thereupon announced -that the motion had duly and lawfully carried and that the ordinance had been duly and lawfully adopted. The ordinance thus adopted follows: `' ORDINANCE NO. 1030 ORDINANCE CANVASSING RETURNS AND DECLARING RESULTS OF BOND ELECTION AND DECLARING THAT SAID ORDINANCE SHALL BE EFFECTIVE IMMEDIATELY UPON ITS ADOPTION WHEREAS, on the 2nd day of June, 1976, the City Council of the City of College Station, Texas, adopted an ordinance calling an election to be held in said City on the 29th day of June, 1976, for the purpose of submitting to the duly qualified resident electors of said City for their action thereupon the following propositions, to -wit: PROPOSITION NO. 1 SHALL THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS, BE AUTHORIZED TO ISSUE THE TAX BONDS OF SAID CITY, IN ONE OR MORE SERIES OR ISSUES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $370,000, MATURING SERIALLY WITHIN 30 YEARS FROM THEIR DATE OR DATES AND BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED THE MAXIMUM NOW OR HEREAFTER AUTHORIZED BY LAW, ALL AS SHALL BE DETERMINED BY SAID CITY COUNCIL, FOR THE PURPOSE OF MAKING PERMA- NENT PUBLIC IMPROVEMENTS, TO -WIT: CONSTRUCTING IMPROVE- MENTS TO THE STREETS.IN SAID CITY, INCLUDING NECESSARY DRAINAGE IN CONNECTION THEREWITH, AND TO LEVY AN ANNUAL TAX ON ALL TAXABLE PROPERTY WITHIN SAID CITY SUFFICIENT TO PAY THE INTEREST ON SAID BONDS AS IT ACCRUES AND TO CREATE AND PROVIDE A SINKING FUND TO PAY THE PRINCIPAL OF SAID BONDS AS THEY MATURE? PROPOSITION NO. 2 SHILL THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS, BE AUTHORIZED TO ISSUE THE TAX BONDS OF SAID CITY, IN ONE OR MORE SERIES OR ISSUES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $970,000, MATURING SERIALLY WITHIN 25 YEARS FROM THEIR DATE OR DATES, AND BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED THE MAXIMUM NOW OR HEREAFTER AUTHORIZED BY LAW, ALL AS SHALL BE DETERMINED WITHIN THE DISCRETION OF THE CITY COUNCIL, FOR THE PURPOSE OF CONSTRUCTING OR PURCHASING PUBLIC BUILDINGS, TO -WIT, A POLICE STATION, A FIRE STATION, AND A WAREHOUSE INCLUDING THE SITES THEREFORy AND ADDITIONS AND IMPROVEMENTS THERETO, AND TO LEVY TAXES UPON ALL TAXABLE PROPERTY WITHIN SAID CITY ANNUALLY, SUFFICIENT TO PAY THE INTEREST ON SAID BONDS AS IT ACCRUES AND TO CREATE AND PROVIDE A SINKING FUND TO PAY THE PRINCIPAL OF SAID BONDS AS THEY MATURE? PROPOSITION NO. 3 SHALL THE CITY COUNCIL OF THE CITY OF COLLEGE ,STATION, TEXAS, BE AUTHORIZED TO ISSUE THE TAX BONDS OF SAID CITY, IN ONE OR MORE SERIES OR ISSUES,IN THE AGGREGATE PRINCIPAL AMOUNT OF $360,000, MATURING SERIALLY WITHIN 25 YEARS FROM THEIR DATE OR bATES, AND BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED THE MAXIMUM NOW OR HEREAFTER AUTHORIZED BY LAW, ALL AS SHALL BE DETERMINED WITHIN THE DISCRETION OF THE CITY COUNCIL, FOR THE PURPOSE OF CONSTRUCTING ADDITIONS AND IMPROVEMENTS TO THE CITY HALL, AND TO LEVY TAXES UPON ALL TAXABLE PROPERTY WITHIN SAID CITY ANNUALLY, SUFFICIENT TO PAY THE INTEREST ON SAID BONDS AS IT ACCRUES AND TO CREATE AND PROVIDE A SINKING FUND TO PAY THE PRINCIPAL OF SAID BONDS AS THEY MATURE? Ordinance No. 1030 IN PROPOSITION NO. 4 SHALL THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS, BE AUTHORIZED TO ISSUE THE TAX BONDS OF SAID CITY, IN ONE OR MORE SERIES OR ISSUES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $425,000, MATURING SERIALLY WITHIN 25 YEARS FROM THEIR DATE OR DATES, AND BEARING INTEREST AT A RATE OR RATES NOT TO EX- CEED THE MAXIMUM NOW OR HEREAFTER AUTHORIZED BY LAW, ALL AS SHALL BE DETERMINED WITHIN THE DISCRETION OF THE CITY COUNCIL, FOR THE PURPOSE OF PURCHASING AND/OR IMPROVING LAND FOR PARK PURPOSES, AND TO LEVY AN ANNUAL TAX ON ALL TAXABLE PROPERTY WITHIN SAID CITY SUFFICIENT TO PAY THE INTEREST ON SAID BONDS AS IT ACCRUES AND TO CREATE AND PROVIDE A SINKING FUND TO PAY THE PRINCIPAL OF SAID BONDS AS THEY MATURE? PROPOSITION NO. 5 SHALL THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS, BE AUTHORIZED TO ISSUE THE TAX BONDS OF SAID CITY, IN ONE OR MORE SERIES OR ISSUES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $2,475,000, MATURING SERIALLY WITHIN 25 YEARS FROM THEIR DATE OR DATES, AND BEARING INTEREST AT A RATE OR RATES NOT TO EX- CEED THE MAXIMUM NOW OR HEREAFTER AUTHORIZED BY LAW, ALL AS SHALL BE DETERMINED WITHIN THE DISCRETION OF THE CITY COUNCIL, FOR THE PURPOSE OF EXTENDING AND IMPROVING THE CITY'S EXISTING WATERWORKS SYSTEM, AND TO LEVY TAXES UPON ALL TAXABLE PROPERTY WITHIN SAID CITY ANNUALLY, SUFFICIENT TO PAY THE INTEREST ON SAID BONDS AS IT ACCRUES AND TO CREATE AND PROVIDE A SINKING FUND TO PAY THE PRINCIPAL OF SAID BONDS AS THEY MATURE? PROPOSITION NO. 6 SHALL THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS, BE AUTHORIZED TO ISSUE THE TAX BONDS OF SAID CITY, IN ONE OR MORE SERIES OR ISSUES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $2,040,000, MATURING SERIALLY WITHIN 25 YEARS FROM THEIR DATE OR DATES, AND BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED THE MAXIMUM NOW OR HEREAFTER AUTHORIZED BY LAW, ALL AS SHALL BE DETERMINED WITHIN THE DISCRETION OF THE CITY COUNCIL, FOR THE PURPOSE OF EXTENDING AND IMPROVING THE CITY'S EXISTING SA14ITARY SEWER SYSTEM, AND TO LEVY TAXES UPON ALL TAXABLE PROPERTY WITHIN SAID CITY ANNUALLY, SUFFI- CIENT TO PAY THE INTEREST ON SAID BONDS AS IT ACCRUES AND TO CREATE AND PROVIDE A SINKING FUND TO PAY THE PRINCIPAL OF SAID BONDS AS THEY MATURE? PROPOSITION NO. 7 SHALL THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS, BE AUTHORIZED TO ISSUE THE TAX BONDS OF SAID CITY, IN ONE OR MORE SERIES OR ISSUES, IN THE AGGREGATE PRINCIPAL AMOUNG OF $2,725,000, MATURING SERIALLY WITHIN 25 YEARS FROM THEIR DATE OR DATES, AND BEARING INTEREST AT A RATE OR RATES NOT TO EX- CEED THE MAXIMUM NOW OR HEREAFTER AUTHORIZED BY LAW, ALL AS SHALL BE DETERMINED BY SAID CITY COUNCIL, FOR THE PURPOSE OF EXTENDING AND IMPROVING THE CITY'S EXISTING ELECTRIC LIGHT AND POWER SYSTEM, AND TO LEVY AN ANNUAL TAX ON ALL TAXABLE PROP- ERTY WITHIN SAID CITY SUFFICIENT TO PAY THE INTEREST 014 SAID BONDS AS IT ACCRUES AND TO CREATE AND PROVIDE A SINKING FUND TO PAY THE PRINCIPAL OF SAID BONDS AS THEY MATURE? PROPOSITION NO. 8 SHALL THE CITY COUNCIL OF THE CITY OF COLLEGE STATION,.TEXAS, BE AUTHORIZED TO ISSUE THE REVENUE BONDS OF SAID CITY, IN ONE OR MORE SERIES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $3,000,000, 2 - WOWS Ordinance No. 1030 MATURING SERIALLY WITHIN 30 YEARS FROM THEIR DATE OR DATES AND BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED THE MAXIMUM NOW OR HEREAFTER AUTHORIZED BY LAW, ALL AS SHALL BE DETERMINED BY SAID CITY COUNCIL, FOR THE PURPOSE OF EXTENDING AND IMPROVING THE CITY'S EXISTING ELECTRIC LIGHT AND POWER SYSTEM; SAID BONDS TO BE ISSUED IN ACCORDANCE WITH AND SECURED IN THE MANNER PRO- VIDED 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 ACCRUED AND THE PRINCIPAL OF SAID BONDS AS THEY MATURE BY PLEDGING THE NET REVENUES FROM THE OPER- ATION 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 PAY- MENT OF SAID OBLIGATION OUT OF ANY FUNDS RAISED OR TO BE RAISED BY TAXATION; AND SAID BONDS TO BE ON A PARITY IN ALL RESPECTS WITH THE OUTSTANDING BONDS OF SAID CITY PAYABLE FROM THE NET REVENUES OF SAID WATERWORKS SYSTEM, SANITARY SEWER SYSTEM AND ELECTRIC LIGHT AND POWER SYSTEM? PROPOSITION NO. 9 SHALL THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS, BE AUTHORIZED TO ISSUE THE REVENUE BONDS OF SAID CITY, IN ONE OR MORE SERIES OR ISSUES,IN THE AGGREGATE PRINCIPAL AMOUNT OF $500,000, MATURING SERIALLY WITHIN 25 YEARS FROM THEIR DATE OR DATES, AND BEARING INTEREST AT A RATE OR RATES NOT TO EX- CEED THE MAXIMUM NOW OR HEREAFTER AUTHORIZED BY LAW, ALL AS SHALL BE DETERMINED WITHIN THE DISCRETION OF THE CITY COUNCIL, FOR THE PURPOSE OF ACQUIRING SITES FOR AND CONSTRUCTING, IM- PROVING, ENLARGING, EQUIPPING, OPERATING AND MAINTAINING CON- VENTION CENTER FACILITIES INCLUDING, BUT NOT LIMITED TO, A CIVIC CENTER CONVENTION BUILDING; SAID BONDS TO BE ISSUED IN ACCORDANCE WITH AND SECURED IN THE MANNER PROVIDED IN ARTICLE 1269j-4.1,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 A PORTION OF REVENUE FROM THE CITY'S HOTEL OCCUPANCY TAX; EACH BOND TO BE CONDITIONED THAT THE HOLDER THEREOF SHALL NEVER HAVE THE RIGHT TO DEMAND PAYMENT OF EITHER THE PRINCIPAL OF OR INTEREST ON SUCH BONDS OUT OF FUNDS RAISED OR TO BE RAISED BY TAXATION, EXCEPT FOR SUCH OCCUPANCY TAX? WHEREAS, the duly qualified resident electors of said City cast the following votes, respectively, at said election on said propositions, to -wit; PROPOSITION NO. 1 FOR THE ISSUANCE OF $370,000 STREET IMPROVEMENT TAX BONDS VOTES AGAINST THE ISSUANCE OF $370,000 STREET IMPROVEMENT TAX BONDS 5S j VOTES PROPOSITION NO. 2 FOR THE ISSUANCE OF $970,000 POLICE, FIRE AND WAREHOUSE BUILDING TAX BONDS VOTES AGAINST THE ISSUANCE OF $970,000 POLICE, FIRE AND WAREHOUSE BUILDING TAX BONDS / - VOTES 3 02661 m Ordinance No. 1030 PROPOSITION NO. 3 FOR THE ISSUANCE OF $360,000 CITY HALL EXPANSION TAX BONDS `6 U VOTES AGAINST THE ISSUANCE OF $360,000 CITY HALL EXPANSION TAX BONDS 4� 2 VOTES PROPOSITION NO. 4 FOR THE ISSUANCE OF $425,000 PARK IMPROVEMENT TAX BONDS `Jr' "'- VOTES AGAINST THE ISSUANCE OF $425,000 PARK IMPROVEMENT TAX BONDS �� ' F' VOTES PROPOSITION NO. 5 FOR THE ISSUANCE OF $2,475,000 WATER- WORKS SYSTEM IMPROVEMENT TAX BONDS % VOTES AGAINST THE ISSUANCE OF $2,475,000 WATERWORKS SYSTEM IMPROVEMENT TAX BONDS ' VOTES PROPOSITION NO. 6 FOR THE ISSUANCE OF $2,040,000 SANI- TARY SEWER SYSTEM IMPROVEMENT TAX BONDS VOTES AGAINST THE ISSUANCE OF $2,040,000 SANITARY SEWER SYSTEM IMPROVEMENT ��? VOTES TAX BONDS PROPOSITION NO. 7 FOR THE ISSUANCE OF $2,725,000 ELECTRIC SYSTEM IMPROVEMENT TAX BONDS VOTES AGAINST THE ISSUANCE OF $2,725,000 ELECTRIC SYSTEM IMPROVEMENT TAX BONDS �G � VOTES PROPOSITION NO. 8 FOR THE ISSUANCE OF $3,000,000 ELECTRIC SYSTEM IMPROVEMENT REVENUE BONDS ��� VOTES AGAINST THE ISSUANCE OF $3,000,000 ELECTRIC SYSTEM IMPROVEMENT REVENUE BONDS ` % VOTES PROPOSITION NO. 9 FOR THE ISSUANCE OF $500,000 CIVIC CENTER CONVENTION BUILDING REVENUE BONDS AGAINST THE ISSUANCE OF $500,000 CIVIC CENTER CONVENTION BUILDING REVENUE BONDS �` VOTES �> r� VOTES -4- Ordinance No. 1030 as shown in the official election returns heretofore duly submitted to said City Council and filed with the City Secretary; therefore, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF COLLEGE STATION: 1. That the City Council officially finds and determines that the bond election held in and throughout the City of College Station, Texas, on the 29th day of June, 1976, which election is more particularly described in the preamble to this ordinance, was duly called and notice thereof duly given in accordance with law; that said election was duly held in the manner required by law and that the returns of the election have been duly delivered to the City Council and it has duly canvassed the same. 2. That said election has resulted favorably to the adoption of Propositions Nos. 1, 2, 3, 4, 5, 6 and 7 providing for the issuance of tax bonds for street improve- ment, police, fire and warehouse building, city hall expan- sion, park improvement, waterworks system improvement, sani- tary sewer system improvement and electric system improvement purposes; and that more than a majority of the duly qualified resident electors of the City who voted in the election voted for the issuance of said bonds. 3. That said election has resulted favorably to the adoption of Propositions Nos. 8 and 9, respectively, pro- viding for the issuance of revenue bonds for electric system improvement and civic center convention building purposes and that more than a majority of the duly qualified resident electors who voted in said election voted for the issuance of said bonds. 4. That the City Council is now authorized to issue all of the bonds described in said Propositions Nos. 1, 2, 3, 4, 5, 6 and 7 and to levy, assess and collect the tax CAL -5- Ordinance No. 1030 in payment thereof, is now authorized to issue all of the bonds described in said Proposition No. 8 and to pledge the net revenues from the operation of the City's Waterworks System, Sanitary Sewer System and Electric Light and Power System to secure payment thereof, and is now authorized to do any and all things necessary and convenient in connection therewith. 5. That the City Council is further authorized by virtue of Article 1269j-4.1, V.A.T.C.S., as amended, the qualified resident voters of the City having also approved such bonds, to issue all of the bonds described in said Prop- osition No. 9 and to pledge a portion of the occupancy tax on sleeping rooms furnished by hotels in the City and is now authorized to do any and all things necessary and convenient in connection therewith. 6. That this ordinance shall take effect and be in full force upon and after its adoption. PASSED AND APPROVED this 30th day of June, 1976. Mayor, City of College Station, Texas ATTEST: City Secretar {SEAL] -6- 023W