HomeMy WebLinkAbout1984-1496 - Ordinance - 01/25/1984ORDINANCE NO. 1496
ORDINANCE CANVASSING RETURNS AND DECLARING
RESULTS OF BOND ELECTION AND DECLARING THAT
SAID ORDINANCE SHALL BE EFFECTIVE IMMEDIATELY
UPON ITS ADOPTION
WHEREAS, on the 8th day of December, 1983, the
City Council of the City of College Station, Texas, adopted
an ordinance calling an election to be held in said City on
the 24th day of January, 1984, 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 BEVENUE BONDS OF SAID
CITY, IN ONE OR MORE SERIES, IN THE AGGREGATE PRINCIPAL
AMOUNT OF $1,800,000, MATURING SERIALLY WITHIN 30 YEARS FROM
TBEIR DATE OR DATES AND BEARING INTEREST AT A HATE OR RATES
NOT TO EXCEED THE MAXIMUM AUTHORIZED BY LAW AT THE TIME OR
TIMES SUCH BONDS ARE ISSb~m~ ALL AS SHALL BE D~T~INED BY
SAID CITY COUNCIL, FOR THE PURPOSE OF EXTENDING AND IMPROVING
THE CITY'S EXISTING WATER AND SANITARY SEWER SYSTEMS, TO-WIT:
BY PARTICIPATING WITH ~£n~RS IN THE PAYMENT OF THE COST OF
NEW WATER AND SEWER LINES THAT WILL BECOME PARTS OF SUCH
SYSTEMS; SAID BONDS TO BE ISSUED IN ACCORDANCE WITH AND
SECURED IN TI-]E 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 MET REVENUES FROM THE OPERATION OF '£~n~ CITY'S
WATERWORKS SYSTEM, SANITARY SEWER SYSTEM AND ELECTRIC LIGHT
AND POWER SYSTEM; EACH BOND TO BE CONDITIONED '£nAT THE
HOLDER THEREOF SHALL NEVER HAVE THE RIGHT TO DEMAND PAYMENT
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. 2
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 $2,200,000, MATURING SERIALLY WITHIN 30 YEARs FROM
THEIR DATE OR DATES, AND BEARING INTEREST AT A HATE OR HATES
NOT TO EXCEED THE MAXIMUM Ab'£mORIZED BY LAW AT THE TIME OR
TIMES SUCH BONDS ARE ISSUED, ALL AS SHALL BE DETERMINED
WITHIN THE DISCRETION OF THE CITY COUNCIL, FOR '£~u~ PURPOSE
OF CONSTRUCTING OR PURCHASING PUBLIC BUILDINGS TO-WIT: A
NEW POLICE STATION AND ADDITIONS TO AND/OR RENOVATIONS OF
· £1-n~ EXISTING POLICE STATION, AND TO LEVY TAXES UPON ALL TAX-
ABLE PROPERTY WITHIN SAID CITY ANNUALLY, SUFFICIENT TO PAY
'£1'~ 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?
04108
Ordinance No. 1496
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 $555,000, MATURING SERIALLY WITHIN 30 YEARS FROM
THEIR DATE OR DATES, AND BEARING INTEREST AT A RATE OR RATES
NOT TO EXCEED THE MAXIMUM AUTHORIZED BY LAW AT THE TIME OR
TIMES SUCH BONDS ARE ISSUED, ALL AS SHALL BE DETERMINED
WITHIN THE DISCRETION OF THE CITY COUNCIL, FOR THE PURPOSE
OF CONSTRUCTING OR PURCHASING PUBLIC BUILDINGS TO-WIT:
ADDITIONS TO AND/OR RENOVATIONS OF THE EXISTING CENTRAL FIRE
STATION, 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. 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 $700,000, MATURING.SERIAr.r~ WITHIN 30 YEARS FROM
THEIR DATE OR DATES, AND BEARING INT~KEST AT A HATE OR RATES
NOT TO EXCEED 'rn~ MAXIMUM AUTHORIZED BY LAW AT THE TIME OR
TIMES SUCH BONDS ARE ISSUED, ALL AS SH~r.r. BE IIETERMINED
WITHIN THE DISCRETION OF THE CITY COUNCIL, FOR THE PURPOSE
OF CONSTRUCTING OR PURCHASING PUBLIC BUILDINGS TO-WIT: A
THIRD FIRE SUBSTATION TO BE LOCATED IN THE SOUTHERN PORTION
OF SAID CITY, 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. 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 $1,425,000, MATURING SERIALLY WITHIN 30 YEARS FROM
THEIR DATE OR DATES, AND BEARING INTEREST AT A RATE OR RATES
NOT TO EXCEED THE MAXIMUM AUTHORIZED BY LAW AT THE TIME OR
TIMES SUCH BONDS ARE ISSUED, ALL AS SHALL BE DETERMINED
WITHIN THE DISCRETION OF THE CITY COUNCIL, FOR THE PURPOSE
OF CONSTRUCTING OR PURCHASING PUBLIC BUILDINGS TO-WIT: A
MAINTENANCE AND STORAGE BUILDING FOR USE BY THE STREET AND
SANITATION DEPARTMENTS OF SAID CITY, 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, IN THE AGGREGATE PRINCIPAL AMOUNT OF
$1,150,000, MATURING SERIALLY WITHIN 30 YEARS FROM THEIR
DATE OR DATES, AND BEARING INTEREST AT A RATE OR RATES NOT
TO EXCEED '£~-~ MAXIMUM AUTHORIZED BY LAW AT THE TIME OR TIMES
SUCH BONDS ARE ISSb~D, ALL AS SHALL BE DETERMINED WITHIN THE
DISCRETION OF THE CITY COUNCIL, FOR THE PURPOSE OF IMPROVING
THE EXISTING PUBLIC PARKS IN THE CITY, 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?
Ordinance No. 1496
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
AMOUNT OF $6,325,000, MATURING SERIALLY WITHIN 30 YEARS FROM
THEIR DATE OR DATES AND BEARING INTEREST AT A RATE OR RATES
NOT TO EXCEED THE MAXIMUM AUTHORIZED BY LAW AT THE TIME OR
TIMES SUCH BONDS ARE ISSUED, ALL AS SHALL BE DETERMINED BY
SAID CITY COUNCIL, FOR THE PURPOSE OF MAKING PERMANENT
PUBLIC IMPROVEMENTS, TO-WIT: CONSTRUCTING IMPROVEMENTS TO
STREETS IN SAID CITY, INCLUDING NECESSARY DRAINAGE IN CONNEC-
TION THEREWITH, AND TO LEVY ANANNUAL TAX ON ALL TAXABLE
PROPERTY WITHIN SAID CITY SUFFICIENT TO PAY ~n~ 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 said
election on said propositions, to-wit:
PROPOSITION NO. 1
FOR THE ISSUANCE OF $1,800,000
WATER AND SEWER LINE PARTICIPATION
REVENUE BONDS
1458 Votes
AGAINST THE ISSUANCE OF $1,800,000
WATER AND SEWER LINE PARTICIPATION
REVENUE BONDS
426 Votes
PROPOSITION NO. 2
FOR THE ISSUANCE OF $2,200,000
POLICE BUILDING TAX BONDS
1283 Votes
592 Votes
AGAINST THE ISSUANCE OF $2,200,000
POLICE BUILDING TAX BONDS
PROPOSITION NO. 3
FOR '£n~ ISSUANCE OF $555,000
FIRE STATION RENOVATION TAX BONDS
AGAINST THE ISSUANCE OF $555,000
FIRE STATION RENOVATION TAX BONDS
1307 Votes
560 Votes
PROPOSITION NO. 4
FOR THE ISSUANCE OF $700,000
NEW FIRE SUBSTATION TAX BONDS
1048 Votes
AGAINST THE ISSUANCE OF $700,000
N~.W FIRE SUBSTATION TAX BONDS
816 Votes
PROPOSITION NO. 5
FOR THE ISSUANCE OF $1,425,000
MAINTENANCE AND STORAGE BUILDING
TAX BONDS
1229 Votes
04110
Ordinance No. 1496
AGAINST THE ISSUANCE OF $1,425,000
MAINTENANCE AND STORAGE BUILDING
TAX BONDS
PROPOSITION NO.
FOR THE ISSUANCE OF $1,150,000
PARK IMPROVEMENT TAX BONDS
AGAINST THE ISSUANCE OF $1,150,000
PARK IMPROVEMENT TAX BONDS
PROPOSITION NO.
FOR T~E ISSUANCE OF $6,325,000
STR~T IMPROVE~ENTTAXBONDS
647 Votes
6
1169 Votes
712 Votes
7
Votes
AGAINST THE ISSUANCE OF $6,325,000
STREET IMPROVEMENT TAX BONDS 36~ 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 24th day of January,
1984, 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 Proposition No. 1 providing for the issuance
of revenue bonds for extending and improving the City's
water and sanitary sewer systems; and that more than a
majority of the duly qualified resident electors who voted
in said election voted for Lhe issuance of said bonds.
3. That said election has resulted favorably to
the adoption of Propositions Nos. 2, 3, 4, 5, 6 and 7 providing
for the issuance of tax bonds for police building, fire
-4- 04111
Ordinance No. 1496
station renovation, new fire substation, maintenance and
storage building, park improvement and street 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.
4. That the City Council is now authorized to
issue all of the bonds described in said Proposition No. 1
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. 2, 3, 4, 5, 6 and 7 and to a levy, assess
and collect taxes in payment thereof, and is now authorized
to do any and all things necessary and convenient in connec-
tion therewith.
in
1984.
5. That this ordinance shall take effect and be
full force upon and after its adoption.
PASSED AND APPROVED this 25th day of January,
Mayor, C~ of-College
Statio(%, Texas
ATTEST:
[Seal]
RDR:22:P
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