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HomeMy WebLinkAbout1954-0199 - Ordinance - 12/02/1954ORDINANCE NO. 199 AN ORDINANCE CANVASSING RETURNS AND DECLARING RESULT OF BOND ELECTION THE STATE OF TEXAS 0 COUNTY OF BRAZOS C©^ 2 The City Council of the City of College Station, Texas convened in specialsession at the City Hall within said City on. the 2nd day of CL December, 1954, with the following members present, to -wit: cj 03 Ernest Langford Mayor ® J. A. Orr Councilman Or A. P. Boyett Councilman Q Ernest Seeger Councilman C) Joe H. Sorrels Councilman Z N. M. McGinnis City Secretary Q U, and the following members absent, to wit: M. C. Pugh. and G. W. Black, when the following business was transacted: The Mayor introduced an ordinance which was read in full. Councilman Orr made a motion that the ordinance be adopted as read. The motion was seconded by Councilman Seeger, and carried by the following vote. AYES: Councilmen Orr, Boyett, Seeger, and Sorrels. NOES: None. The Nayor requested to be recorded es voting "Aye." The ordinance thus adopted follows: STANDARD B & P "1iI�?-��R" AN ORDINANCE CANVASSING RETURNS AND DECLARING RESULT OF BOND ELECTION WHEREAS, there was held in the City of College Station, Texas on the 1st day of. December, 1954, an election at which was submitted to the duly qualified resident electors of said City who own taxable property within said City and who had duly rendered the same for tax- ation the following proposition, to -wit: PROPOSITION SHALL THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS, RE AUTHORIZED TO ISSUE THE REVENUE BONDS OF SAID CITY IN THE AMOUNT OF $300,0001 MATURING SERIALLY WITHIN THIRTY (30) YEARS FROM THEIR DATE OR DATES REARING INTEREST AT A RATE NOT TO EXCEED FOUR PER CENT (4%) PER ANNULI, FOR THE PURPOSE OF CONSTRUCT- ING IMPROVEMENTS AND EXTENSIONS TO 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 1T ACCRUES AND THE PRINCIPAL OF SAID BONDS AS 1T MATURES, BY PTEDGING THE NET REVENUES FROM THE OPERATION OF THE CITY'S ELECTRIC LIGHT AND POWER SYSTEM, AND, AT THE OPTION OF THE C 1TY COUNCIL, BY ALSO PLEDGING. THE NET REVENUES FROM= OPERATION OF THE CITY'S WATERWORKS SYSTEM AND SANITARY SEWER SYSTEM, EITHER OR BCITH; 00489 y79 EACH BOND TO BE CONDITIONED THAT THE HOLDER THEREOF SHALL NEVER HAVE THE RIGHT TO DEMAND THE PAYMENT OF SAID OBLI— GATION OUT OF ANY FUND RAISED OR TO BE RAISED BY TAXATION? ( The probable period of usefulness of said improvements is forty (40) years. ) WHEREAS, there were cast at said election 451 votes, of which number there were cast: t wCC FOR THE ISSUANCE OF ":300,000 SEWER IMPROVEMENT REVENUE BONDS 431 V otes y AGAINST THE ISSUANCE OF 000,000, SEWER INPROVEPENT REVENUE BONDS STANDARD B & P 'DARD B & P MAJORITY FOR THE ISSUANCE OF $300,000, SEWER IMPROVEMENT REVENUE BONDS 431 Voters As shown in the official election returns heretofore duly and lawfully submitted to this City Council and filed with the City Secretary; THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF COLLEGE STAT ION: Sectipn 1: That said election was duly called and notice thereof given in accordance with law; that said election was held in the manner required by law; that only duly qualified resident electors of said City who own taxable property within said City and who had duly rendered the same for taxation voted at said election; that said election has resulted favorably to the issuance of bonds; that a majority of the qualified voters voting at said election have voted in favor of the issuance of said bonds; and that said election resulted in the approval of the ordinance passed by this City Council on the 8th day of November, 1954, authorizing the issuance of said bonds and calling said election. Section 2: That the City Council is authorized to issue said bonds and to do any and all things necessary and convenient there— with. Sectio. 3: That this ordinance shall take effect from and after its passage. PASSED AND APPROVED THIS 2nd day of December, 1954. ATTEST: City Secretary (SEAL) Mayor, City of allege Station 00490