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HomeMy WebLinkAboutO-49-1-64CERTIFICATE FOR BOND ORDINANCE/ THE STATE OF TEXAS COUNTY OF COLLIN TOWN OF ALLEN We, the undersigned, Mayor and Town Secretary, respectively, of said Town, hereby certify as follows: 1. That the attached and following is a true, full and correct copy of an Ordinance Authorizing the Issuance of Bonds,duly passed by the Town Council of said Town at a ,,j / Meeting held at the regular meeting place on the day of January, 1964, which Ordinance has been duly recorded in the minutes of said Town Council. 2. That the following are the members and officers of said Town Council: G. T. Jones, : Mayor, Phil Pringle, Dean Sears, T. L. Oxford: Aldermen, C. E. Ottoway, J, D, Smith, A. C. Story, Town Secretary, and all said persons were present at the time of passage of i said Ordinance except the following absentees:/i,.,,r' 3. That said Ordinance was introduced for the consideration of said Town Council by its presiding officer and read in full, and, upon motion duly made and seconded, said Ordinance was passed by the following vote: AYES: All Aldermen present voted "Aye." I�P1�F�167S� 4. That each of the members and officers of said Town Council was duly and sufficiently notified officially and personally, in advance, of the time, place, and purpose of the aforesaid Meeting, and that said Ordinance would be introduced and considered for passage at said Meeting, and each of said members and officers consented, in advance, to the holding of said Meeting for such purpose. 5. That the Mayor of said Town has approved, and hereby approves, said Ordinance; that the Mayor and Town Secretary of said Town have duly signed said Ordinance; and that said Mayor and Town Secretary hereby declare that their sign- ing of this Certificate shall constitute the signing of the attached and following copy of said Ordinance for all purposes. SIGNED AND SEALED this the __;l ay of January, 1964. Town Secretary,/ Mgyor (SEAL) ORDINANCE AUTHORIZING THE ISSUANCE OF BONDS THE STATE OF TEXAS . COUNTY OF COLLIN TOWN OF ALLEN WHEREAS, the bonds hereinafter authorized were duly and favorably voted, as required by the Constitution and laws of.the State of Texas, at an election held in said Town on the 7th day of September, 1963; and WHEREAS, the bonds hereinafter authorized are to be issued and delivered pursuant to Vernon's Article 823. THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF ALLEN: Section 1. That said Town's coupon bonds to be designated the "Town of Allen General Obligation Sewer System Bonds, Series 1964," are hereby authorized to be issued and delivered in accordance with the Constitution and laws of the State of Texas in the principal amount of $50,000 for the purpose of improving and extending the Town's Sewer System. Section 2. That said bonds shall be dated February 1, 1964, shall be numbered consecutively from 1 through 50, shall be in the denomination of $1,000 each, and shall mature and become due and payable serially on February 1 in each of the years, and in the amounts, respectively, as set forth in the following schedule: YEARS AMOUNTS YEARS AMOUNTS 1983 $3,000 1989 $4,000 1984 3,000 1990 5,000 1985 3,000 1991 5,000 1986 4,000 1992 5,000 1987 4,000 X993 5,000 1988 4,000 1994 5,000 Section 3, That as to said bonds scheduled to mature on and after February 1, 1985, said Town shall have the right and option to redeem such bonds prior to their scheduled maturities, in whole, or in part on February 1, 1984,] or on any interest payment date thereafter, for the principal I amount thereof plus accrued interest to the date fixed for redemption. At least thirty days before the date fixed for any such redemption, the Town shall cause a written notice of such redemption to be published at least once in a financial publication printed in the City of New York, New York. By the date fixed for any such redemption, due provision shall be made with the paying agent for the payment of the principal amount of the bonds to be so redeemed, plus accrued interest thereon to the date fixed for redemption. If the written notice of redemption is published, and if due provision for payment is made, all as provided above, the bonds, which are to be so redeemed, thereby automatically shall be redeemed prior to maturity, and they shall not bear interest after the date fixed for redemption, and shall not be regarded as being outstanding except for the purpose of receiving the funds so provided for such payment. Section 4. That said bonds shall bear interest from their date, until maturity or redemption at the rate of 4-3/4% per annum, with said interest to be evidenced by interest coupons payable on February 1, 1965, and semi-annually thereafter on each August 1 and February 1. Section 5. That the principal of and interest on said bonds shall be payable to bearer, in lawful money of the United States of America, without exchange or collection charges to the bearer, upon presentation and surrender of proper bond or interest coupon, at the Mercantile National Bank at Dallas, Dallas, Texas, which place shall be the paying agent for said bonds. Section 6. That each of said bonds and interest coupons shall be signed by the imprinted or lithographed facsimile signature of the Mayor of said Town and countersigned by the imprinted or lithographed facsimile signature of the Town Secretary of said Town, and the official seal of said Town shall be impressed, or printed, or lithographed on each of said bonds. Section 7. That the form of said bonds, including! the form of Registration Certificate of the Comptroller of Public Accounts of the State of Texas to be printed and endorsed on each bond, and the form of the interest coupons to be attached to said bonds, shall be, respectively, substantially as follows: N0. (FORM OF BOND) UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF COLLIN TOWN OF ALLEN GENERAL OBLIGATION SEWER SYSTEM BOND SERIES 1964 $1,000 On February 1, 19_, the Town of Allen, in the County of Collin, State of Texas, promises to pay to bearer the principal amount of ONE THOUSAND DOLLARS and to pay interest thereon, from the date hereof, at the rate of 4-3/4% per annum, evidenced by interest coupons payable February 1, 1965, and semi-annually thereafter on each August I and February 1 while this bond is outstanding. The principal of this bond and the interest coupons attached hereto shall be payable to bearer, in lawful money of the United States of America, without exchange or collection charges to the bearer, upon presentation and surrender of this bond or proper interest coupon, at the Mercantile National Bank at Dallas, Dallas, Texas, which place shall be the paying agent for this Series of bonds. This bond is one of a Series of coupon bonds dated February 1, 1964, issued in the principal amount of $50,000 for the purpose of improving and extending the Town's sewer system. The bonds of this Series scheduled to mature on and after February 1, 1985, may be redeemed prior to their scheduled maturities, in whole, or in part, at the option of said Town, on February 1, 1984, or on any interest payment date thereafter, for the principal amount thereof plus accrued interest to the date fixed for redemption. At least thirty days before the date fixed for any such redemption the Town shall cause a written notice of such redemption to be published at least once in a financial publication printed in the City of New York, New York. By the date fixed for any such redemption, due provision shall be made with the paying agent for the payment of the principal amount of the bonds to be redeemed, plus accrued interest thereon to the date fixed for redemption. If the written notice of redemption is published, and if due provision for such payment is made, all as provided above, the bonds, which are to be so redeemed, thereby automatically shall be redeemed prior to maturity, and they shall not bear interest after the date fixed for redemption, and shall not be regarded as being outstand- ing except for the purpose of receiving the funds so provided for such payment. It is hereby certified and recited that this bond has been duly and validly voted, authorized, issued, and delivered in accordance with the Constitution and laws of the State of Texas; that this bond is a general obligation of said Town, issued on the full faith and credit thereof; and that the ad valorem taxes, upon all taxable property in said Town, necessary to pay the interest on and principal of this bond, as such interest comes due, and such principal matures, have been pledged irrevocably for such purpose, within the limit prescribed by law. In witness whereof, this bond and the interest coupons attached hereto have been signed by the imprinted or lithographed facsimile signature of the Mayor of said Town and countersigned by the imprinted or lithographed facsimile signature of the Town Secretary of said Town, and the official seal of said Town has been duly impressed, or printed, or lithographed on this bond. Town Secretary, Town of Allen Mayor, Town of Allen (FORM OF REGISTRATION CERTIFICATE) COMPTROLLER'S REGISTRATION CERTIFICATE: REGISTER NO. I hereby certify that this bond has been examined, certified as to validity, and approved by the Attorney General of the State of Texas; and that this bond has been registered by the Comptroller of Public Accounts of the State of Texas. Witness my signature and seal this Comptroller of Public Accounts of the State of Texas (FORM OF INTEREST COUPON) NO._ On , 19_, the Town of Allen, in the County of Collin, State of Texas, promises to pay to bearer, unless due provision has been made for the redemption prior to maturity of the bond to which this interest coupon is attached, the amount of Dollars, in lawful money of the United States of America, without exchange or collection charges to the bearer, upon presentation and surrender of this interest coupon, at the Mercantile National Bank at Dallas, Dallas, Texas, said amount being interest due that day on the bond, bear- ing the number hereinafter designated, of that issue of Town of Allen General Obligation Sewer System Bonds,- Series 1964, dated February 1, 1964. Bond No. Town Secretary Section S. That a special fund or account, to be designated the "Town of Allen General Obligation Sewer System Bonds, Series 1964, Interest and Sinking Fund" is hereby created and shall be established and maintained by said Town at its official depository bank. Said Interest and Sinking Fund shall be kept separate and apart from all other funds and accounts of said Town, and shall be used only for paying the interest on and principal of said bonds. All taxes levied and collected for and on account of said bonds shall be deposited, as collected, to the credit of said Interest and Sinking Fund. During each year while any of said bonds or interest coupons i appertaining thereto are outstanding and unpaid, the Town Council of said Town shall compute and ascertain the rate and amount of ad valorem tax, based on the latest approved tax rolls of said Town, with full allowances being made for tax delinquencies and costs of tax collections, which will be sufficient to raise and produce the money required to pay the interest on said bonds as such interest comes due, and to provide a sinking fund to pay the principal of such bonds as such principal matures, but ,never less than 2% of the original principal amount of said bonds as a sinking fund each year. Said rate and amount of ad valorem tax is hereby ordered to be levied and is hereby levied against all taxable property in said Town for each year while any of said bonds or interest coupons appertaining thereto are outstanding and unpaid, and said ad valorem tax shall be assessed and collected each such year and deposited to the credit of the aforesaid Interest and Sinking Fund. Said ad valorem taxes necessary to pay the interest on and principal of said bonds, as such interest comes due, and such principal matures, are hereby pledged irrevocably for such purpose, within the limit prescribed by law. Section 9. That the Mayor of said Town is hereby authorized to have control of said bonds and all necessary records and proceedings pertaining to said bonds pending their delivery and their investigation, examination, and approval by the Attorney General of the State of Texas, and their registration by the Comptroller of Public Accounts of the State of Texas. Upon registration of said bonds, said Comptroller of Public Accounts (or a deputy designated in writing to act for said Comptroller) shall manually sign the Comptroller's Registration Certificate prescribed herein to be printed and endorsed on each bond, and the seal of said Comptroller shall be impressed, or printed, or lithographed on each of said bonds. Section 10. That said bonds are hereby sold in accordance with law and shall be delivered to Walker„ Austin & Waggener, Dallas, Texas, for the principal amount thereof and accrued interest to the date of delivery.