Loading...
HomeMy WebLinkAboutO-66-10-66i I \ ORDINANCE No 66 CERTIFICATE FOR BOND ORDINANCE THE STATE OF TEXAS COUNTY OF COLLIN CITY OF ALLEN .eq We, the undersigned officers of said City, hereby certify as ..-follows: N 1. The City Council of said City convened in REGULAR MEETING ON THE 2Ot0AY OF OCTOBER, 1966 let the City Hall, and the roll was called of the duly constitut- ed officers and members of said City Council, to -wit" A. C. Story, City Secretary Gentry T. Jones, Mayor Zack Robinson R. B. Whisenant Dan Strong Bill Enloe Ken Posey and alloz f said persons were present, except the following absentees: Fill. , thus constituting- quorum.. Whereupon, among other business, the following was transacted at said Meeting: a written ORDINANCE AUTHORIZING THE ISSUANCE OF REVENUE BONDS ' was duly introduced for the consideration of said City Council and read in full. It was then duly moved and seconded that said Ordinance be passed; and, after due discussion, said motion, carrying with it the passage of said Ordinance, prevailed and carried by the following vote: AYES: All members of said City Council shown present above voted "Aye." NOES: None. 2. That a true, full, and correct.copy of the aforesaid Ordinance passed at the Meeting described in the above and fore- going paragraph is attached to and follows this Certificate; ,that said Ordinance has been duly recorded in said City Council's IIminutes of said Meeting; that the above and foregoing paragraph !is a true, full, and correct excerpt from said City Council's iminutes of said Meeting pertaining to the passage of said Or- dinance; that the persons named in the above and foregoing para- igraph are the duly chosen, qualified, and acting officers and !members of said City Council as indicated therein; and that leach of the officers -and members of said City Council was duly end sufficiently notified officially and personally, in advance, .and 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 officers and members consented, in advance, to the holding of said Meeting for such !purpose, 3, That the Mayor of said City has approved, and hereby ';approves, the aforesaid Ordinance; that the Mayor and the City (;Secretary of said City have duly signed said Ordinance; and that �Ithe Mayor and the City Secretary of said City hereby declarethat ltheir signing of this Certificate shall constitute the signing of ;;the attached and following copy of said Ordinance for all purpose: SIGNED AND SEALED the hof' day of October , 966. u �/ >ILIame p City Secrq ary fXayor (SEAL) ORDINANCE AUTHORIZING THE ISSUANCE OF BONDS THE STATE OF TEXAS COUNTY OF COLLIN CITY 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 City on the 3rd day of August, 1963; and WHEREAS, the bonds hereinafter authorized are to be issued and delivered pursuant to Vernon's Articles 1111 through 1118. THEREFORE, BE IT ORDAINED BY THE CITY 'COUNCIL OF THE CITY OF ALLE; Section 1. That said City's coupon bonds to be designated the "City of Allen Waterworks and Sewer System Revenue Bonds, Series 1966," are hereby -authorized to be issued and delivered in accordance with the Constitution and laws of the .I� State of Texas in the principal amount of $160,000 for the purpose of providing $75,000 for improving and extending said City's ,Waterworks System, and providing $85,000 for improving and extend- ing said City's Sewer System. Section.2. That.said bonds shall be dated November 1, 1966, shall be numbered from 1 through 32, shall be in the denomination of $5,000 each, and shall mature and become due and payable serially on April j in each of the years, and in the amounts, respectively, as set forth in the following schedule: G YEARS AMOUNTS, YEARS AMOUNTS 1995 $15,000 2001 $15,000 1996 15,000 2002 15,000 15,000 2003 10,000 000 2004 10,000 =:,000 2005 10,000 .5,000 2006 10,000 .:accar. 3. That the City shall have the right I y --_:on to redeem said bonds prior to their scheduled maturities, mwhole, or in part in inverse numerical order, on April 1, 1987,1. or on any interest payment date thereafter, for the principal ! amount thereof plus accrued interest to the date fixed for ,;redemption. I) h At least thirty days before the date fixed for any !!such redemption, the City shall cause a written notice of such redemption to be published at least once in a financial publicatio ;published in the City of New York, New York. By the date fixed for any such redemption, due provision shall be made with the payi !;agent for the payment of the principal amount of the bonds to be I;Iso redeemed, plus accrued interest thereon to the date fixed for redemption. If the written notice of redemption is published, and I if due provision for payment is made, all as provided above, the Cbonds, which are to be so redeemed, thereby automatically shall Ijbe redeemed prior to maturity, and they shall not bear interest 11 after the. date fixed for redemption, and shall not be regarded has being outstanding except for the purpose of receiving the funds i,so provided for such payment. Section 4. That said bonds shall bear interest, from their date until maturity or redemption, at the rate of 5-3/4% per annum, with said interest to be evidenced by interest coupons payable on October 1, 1967, and semi-annually thereafter on each, April 1 and October 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 intere; 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 City and countersigned by the imprinted or lithographed facsimile signature of the City Secretary of said City, and the official seal of said City 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: NO. (FORM OF BOND) UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF COLLIN CITY OF ALLEN WATERWORKS AND SEWER SYSTEM REVENUE BOND SERIES 1966 $5,000 On April .l,the City of Allen, in the County of Collin, State of Texas, promises to pay to bearer the prii amount of FIVE THOUSAND DOLLARS and to pay interest thereon, from the date hereof, at the rate of 5-3/4% per annum, evidenced by interest coupons payable October 1, 1967, and semi-annually thereafter on each April 1 and October 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 November 1, 1966, issued in the principal amount of $160,000 for the purpose of providing $75,000 for improving and extending the City's Waterworks System, and providing $85,000 for improving and extending the City's Sewer system. The bonds of this Series may be redeemed prior to their scheduled maturities, in whole, or in part in inverse numerical order, at the option of said City, on April 1, 1987, 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 City shall cause a written notice of such redemption to be published at least once in a financial publi- cation published 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 outstanding 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; and that the interest on and principal of this bond, and the Series of which it is a part, together with other outstand- ing waterworks and sewer system revenue bonds of said City, are secured by and payable from a first lien on and pledge of the Net Revenues of,said City's Waterworks and Sewer System. , Said City has reserved the right, subject to the restrictions stated, or adopted by reference, in the Ordinance authorizing this Series of bonds, to issue additional parity revenue bonds which also may be secured by and made payable from a first lien on and pledge of the Net Revenues of said City's Waterworks and Sewer System. The holder hereof shall never have the right to demand payment of this obligation out of any funds raised or to be raised by taxation. Inwitnesswhereof, this bond and the interest coupons attached hereto have been signed by the imprinted or litho- graphed facsimile signature of the Mayor of said City and coon signed by the imprinted or lithographed facsimile signature of the City Secretary of said City, and the official seal of said City has been duly impressed, or printed, or lithographed on this bond. n City Secretary, City of Allen N.ayor, City of Allen i !I I it (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 , the City 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,'bearing the number hereinafter designated, of that issue of City of Allen Waterworks and Sewer System Revenue Bonds, Series 1966, dated November 1, 1966. The holder hereof shall never have the right to demand payment of this obligation out of any funds raised or to be raised by taxation. Bond No. City Secretary Section 8. That the.term "Outstanding Bonds," as used herein, shall mean the outstanding bonds of the following issu of said City: Waterworks and Sewer System Revenue Bonds, Series 1958, authorized by ordinance- dated rdinancedated March 13, 1958; Waterworks and Sewer System Revenue Bonds, Series 1961, authorized by ordinance dated June 21, 1961. The Series 1966 Bonds authorized hereby are parity "Additional I Bonds" as defined and permitted in the aforesaid ordinance dated March 13, 1958, and Sections 10 through 28 of said ordinance are adopted by reference and shall be applicable to said Series) 1966 Bonds for all purposes, except to the extent hereinafter specifically modified and supplemented. The Series 1966 Bonds and the Outstanding Bonds are and shall be secured by and payable from a first lien on and pledge of the Net Revenues of said City's Waterworks and Sewer System, and all of said obligations shall be on a parity and of equal dignity in all respects. Section 9. That, in addition to all other amounts required by the ordinances, respectively, authorizing the Outstanding Bonds, there shall be deposited into the Interest and Sinking Fund, created for the benefit of said Outstanding Bonds and all Additional Bonds, the following: (a) such amounts, in equal'monthly installments, made on or before the 15th day of each month hereafter, as will be sufficient to pay the interest scheduled to come due on said Series 1966 Bonds on the next interest payment, date; and (b) such amounts, in equal monthly installments, made on or before the 15th day of each month hereafter, commencing April 15, 1994, as will be sufficient to pay the next maturing principal of said Series 1966 Bonds. Section 10. That, in addition to all other amounts required by the ordinances, respectively, authorizing the Outstanding Bonds, the aggregate amount to be accumulated and maintained in the Reserve Fund shall be increased by an amount not less than one average year's requirements for the payment of principal of and interest on the Additional Bonds authorized by this Ordinance, and the monthly deposits into the Reserve Fund shall be increased by an amount equal to 1/60th. of the added reserve. Such increased deposits into the Reserve Fund shall be made upon passage of this Ordinance and on the 15th day of each month thereafter. Section 11. That said bonds are and shall be special obligations of said City, and the holder or holders thereof shall never have the right to demand payment of said obligati out of any funds raised or to be raised by taxation. Section 12. That the Mayor of said City 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 13. That said bonds a he it old in accordance w `� '� i�`x7 law ^nd sha be delivered to 9f. [��- - � Ate, for the princi 1 amount thereof] and accrued interest to the date of delivery.' i -----------------