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HomeMy WebLinkAbout1978-1106 - Ordinance - 04/03/1978-' THE STATE OF TEXAS § § 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 3rd day of April, 1978, with the following members present, to -wit: Lorence L. Bravenec Mayor Gary M. Halter Councilman Patricia B. Boughton Councilman Larry J. Ringer Councilman Homer B. Adams Councilman Ms. Anne Hazen Councilman James H. Dozier Councilman and the following members absent, to -wit: None , when, among other business, the following was transacted, to -wit: The Mayor introduced an ordinance which was read in full. Councilman Dozier moved that the or- dinance be adopted as read. Councilman Halter seconded the motion for adoption of said ordinance. The motion, carrying with it the adoption of the ordinance, pre- vailed by the following vote: AYES: All Present NOES: None 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: - LIN Sµ ORDINANCE NO. 1106 ORDINANCE CANVASSING RETURNS AND DECLARING RESULTS OF BOND ELECTION A14D DECLARING THAT SAID ORDINANCE SHALL BE EFFECTIVE IMMEDIATELY UPON ITS ADOPTION WHEREAS, on the 8th day of March, 1978, the City Council of the City of College Station, Texas, adopted an ordinance calling an election to be held in said City on the 1st day of April, 1978, 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 REVENUE BONDS OF SAID CITY, IN ONE OR MORE SERIES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $5,300,000, MATURING SERIALLY WITHIN 25 YEARS FROM THEIR DATE OR DATES AND BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED THE MAXI14UM NOW AUTHORIZED BY LAW, ALL AS SHALL BE 1 DETERMINED BY SAID CITY COUNCIL, FOR THE PURPOSE OF EXTEND- ING AND IMPROVING THE CITY'S EXISTING WATERWORKS SYSTEM; SAID BONDS TO BE ISSUED IN ACCORDANCE WITH AND SECURED IN THE MANNER PROVIDED 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 ACCRUES AND THE PRINCIPAL OF SAID BONDS AS THEY DZATURE BY PLEDGING THE NET REVENUES FROM THE OPERATION 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 PAYMENT OF SAID OBLI- GATION 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. 2 SHALL THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, 4rp*;-F'r, - BE AUTHORIZED TO ISSUE THE REVENUE BONDS OF SAID CITY,,I ONE OR MORE SERIES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $845,000, 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 AUTHORIZED BY LAW, ALL AS SHALL BE DETERMINED BY SAID CITY COUNCIL, FOR THE PURPOSE OF EXTEND- ING AND IMPROVING THE CITY'S EXISTING SANITARY SEWER SYSTEM,; SAID BONDS TO BE ISSUED IN ACCORDANCE WITH AND SECURED IN THE MANNER PROVIDED 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 ACCRUES AND THE PRINCIPAL OF SAID BONDS AS THEY MATURE BY PLEDGING THE NET REVENUES FROM THE OPERATION OF THE CITY'S WATERWORKS SYSTEM, SANITARY SEWER SYSTEM AND ELECTRIC LIGHT AND POWER ' SYSTEM; EACH BOND TO BE CONDITIONED THAT THE HOLDER THEREOF UZIP914 Ordinance No. 1106 SHALL NEVER HAVE THE RIGHT TO DEMAND PAYMENT OF SAID OBLIGA- TION 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. 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 $530,000, MATURING SERIALLY WITHIN 25 YEARS FROM THEIR DATE OR DATES AND BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED THE MAXIMUM NOW AUTHORIZED BY LAW, ALL AS SHALL BE DETERMINED BY SAID CITY COUNCIL, FOR THE PURPOSE OF MAKING PERMANENT 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. 4 SHALL THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXM , BE AUTHORIZED TO ISSUE THE TAX BONDS OF SAID CITY, IN ONE OR MORE SERIES OR ISSUES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $1,810,000, MATURING SERIALLY WITHIN 25 YEARS FROM THEIR DATE OR DATES, AND BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED THE MAXIMUM NOW 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? PROPOSITIONd 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 $680,000, MATURING SERIALLY WITHIN 25 YEARS FROM THEIR DATE OR DATES, AND BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED THE MAXIMUM NOW 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 AND ADDITIONS AND IMPROVEMENTS THERETO, AND TO LEVY TAXES UPON ALL TAXABLE PROPERTY WITHIN SAID CITY ANNUALLY, SUF- FICIENT 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? WHEREAS, the duly qualified resident electors of said City cast the following votes, respectively, at election on said propositions, to -wit: - 2- 04115 Ordinance No. 1106 PROPOSITION NO. 1 FOR THE ISSUANCE OF $5,300,000 WATERWORKS SYSTEM IMPROVEMENT REVENUE BONDS 1772 VOTES AGAINST THE ISSUANCE OF $5,300,000 WATERWORKS SYSTEM IMPROVEMENT REVENUE BONDS 270 VOTES PROPOSITION NO. 2 FOR THE ISSUANCE OF $845,000 SANITARY SEWER SYSTEM REVENUE BONDS 1762 VOTES AGAINST THE ISSUANCE OF $845,000 SANITARY SEWER SYSTEM REVENUE BONDS 281 VOTES PROPOSITION NO. 3 FOR THE ISSUANCE OF $530,000 STREET IMPROVEMENT TAX BONDS 1520 VOTES AGAINST THE ISSUANCE OF $530,000 STREET IMPROVEMENT TAX BONDS 516 VOTES PROPOSITION NO. 4 FOR THE ISSUANCE OF $1,810,000 PARK IMPROVEMENT TAX BONDS AGAINST THE ISSUANCE OF $1,810,000 PARK IMPROVEMENT TAX BONDS PROPOSITION NO. 5 FOR THE ISSUANCE OF $680,000 POLICE, FIRE AND WAREHOUSE BUILDING TAX BONDS AGAINST THE ISSUANCE OF $680,000 POLICE, FIRE AND WAREHOUSE BUILDING TAX BONDS .I 1233 VOTES 811 VOTES 1421 VOTES 614 VOTES 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 1st day of April, 1978, 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 elec- tion was duly held in the manner required by law and that =19 IM Ordinance No. 1106 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 and 2, respectively providing for the issuance of revenue bonds for waterworks system and sanitary sewer system improvement 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. 3. That said election has resulted favorably to the adoption of Propositions Nos. 3, 4 and 5 respectively providing for the issuance of tax bonds for street improve- ment, park improvement and police, fire and warehouse build- ing 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. 4. That the City Council is now authorized to is- sue all of the bonds described in said Propositions Nos. 1 and 2 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, is now authorized to issue all of the bonds described in said Propositions Nos. 3, 4 and 5 and to levy, assess and collect the tax in payment thereof, and is now authorized to do any and all things necessary and convenient in con- nection therewith. 5. That this ordinance shall take effect and be in full force upon and after its adoption. PASSED .AND APPROVED this 3rd day of April, 1978. ATTEST: City Secrd mayor, City of College Station, Texas UZ-917 -4-