O-23-12-58g3
THE STATE OF TEXAS I
TOWN OF ALLEN
COUNTY OF COLIIN D
On this the 11th day of December, 1958. the Board of Alderman
of the Town of Al}en convened in regular session at the City Hall
of said Town of Allen with the following members present, to -wit:
V. B. Watson, Mayor
i ^(_
H. J. McClure ,Alderman _
J. C. Hefner ,Alderman
B. H. Fornlewell ,Alderman
,Alderman
Alderman
and said members constituting a quorum then among other proceedings
had were the following:
Alderman, J. C. Hefner , introduced a resolution
and moved its adoption as an ordiance. The motion carried with the
adoption of the resolution and ordiance prevailed by the following
votes:
Ayes: R. J. McClure
J. C. Hefner
B. H. Popplewell
Nays: NONEI
The resolution and ordiance follows:
ORDIANCE
"AN ORDIANCE AUTHORIZING TAE. ISSUANCE OF WARRANTS IPI THF AMOUNT
OF THIRTY -TWO -HUNDRED ($3200.00) DOLLARS BEARING INTEREST AT THE RATE
OF 6% PER ANNUM IN PAYMENT OF THE PURCHASE PRICE: AND FOR THE INSTAL-
LATION OF CERTAIN NFCF :SSARY ADDITIONS AND EXTENSIONS OF THE SVIER
SYSTFM OF THE TOWN OF ALLFNi PROVIDING FOR THE PAYMENT OF SAID
WARRANTS OUT OF THE GFNFRAL REVENUE OF TETE TOWN OF ALLEN .AND FROM
THF SURPLUS REVENUES FROM TIE' ALLEN SEv ER SYSTEMVI AND THE ALLEN WATER
WORKS SYSTEM NOT OTHERWISE HERETOFORE; PLEDGED, AND DECLARING AN
EMERGFNCY."
ATERF.AS, the Town of Allen is in need of certain extensions and
additions to the Allen Sewer System not provided for or covered in
the main contract with Y?ilkes, Drake and Steed; and,
W1HTT,EAS, said extensions and additions to the Sewer System are
necessary in order to serve all the citizens and patrons within the
limits of the Town of Allen, and,
VlELP-AS, the Board of Aldermen of the Town of Allen deemed it
advisable and to the beat interest of the Town to have such additions
and extensions made at this time and to borrow the money to pay for
them from the Central National Bank of McKinney, McKinney, Texas.
T_REREFORF, BE IT ORDAINED by the Aldermen of the Town of Allen
that the "ayor of said Town be,and he is hereby authorized, empowered
and directed to execute and deliver warrants of said Town of Allen
as described below:
To Central National Bank of McKinney, for the funds necessary
to pay for said additions and extensions of the Town of Allen Sewer
System, said warrants to be six (6) in number totaling the sum of
THIRTY -TWO -HUNDRED AND NO/100 ($3200.00) DOLLARS, dated Deccmber 15,
1958, each in the amount as designated below, and payable to the
Central National Bank of McKinney, or bearer, and each due and
payable as follows:
WARRANT NO. WE DATE pRIPiCI?AL
1 December 15, 1959, C 400.00
2 December 15, 19601 1100.00
3, December 159 1961, 500.00
Ilecember 15, 1962, 500.00
5 December 15. 196j, 700.00
6 December 15, 1961}, 700.00
and said warrants amounting to the total sum of T?IIRTY-1470-RUTIDRED
AND N0/100 ($3200.00) DOLLARS, and shall bear interest at the rate
of 6% nor annum from date until fully paid, interest payable on
December 15, 1959 and on December 15,th. of each year thereafter
as long as any of said warrants are outstanding, and unpaid, which
interest is part of the contract price agreed to be paid for said
sower system, additions and extensions; and the principal and
Interest on said warrants shall be payable at Central National Sank
of McKinney, McKinney, Texas; and the regular interest on each
warrants is to be represented by annual interest coupons attached
to each Warrant.
Said Warrants shall be signed by the Mayor, counter -signed by
the Secretary and registered by the Treasurer and the Seal of the
Town of Allen shall be impressed upon each of the. Said Warrants
shall be in substantially the following forms:
WARRANT NO. 1 UNITED STATES OF AMERICA 6400.00
STATE OF TEXAS
TOWN OF ALLEN
TOWN OF ALLEN SEWER SYSTEM WARRANT
The Town of Allen, Collin County, State of Texas, for value
received, is justly indebted to, and hereby promises to pay the
Central National Bank of McKinney, or bearer, on the fifteenth
day of December, 1959, at McKinney, Texas, the sum of
?'_)UR HUNDRED DOLLARS
in lawful money of the United States of America, with interest
thereon at the rate of six per cent (6%)payable annaully on the
15th day of December, of each year, beginning December 15, 19591
and the Treasurer of the Town of Allen, is hereby authorized,
ordered and directed to pay to Central National Bank of McKinney$
or bearer, said principal sum, together with interest thereon, as
evidenced by interest coupons attached hereto, principal and
interest payable at Central National Bank, McKinney, Texas, upon
nresentation and surrender of this warrant and interest coupons.
In the event this warrant, or any interest coupon hereto
attaohed, aball not be paid at maturitit shall thereafter bear
interest et the rate of six per cent (9%) until fully paid, and in
the event it is necessary to place this warrant in the hands of an
attorney for collection or to institute suit thereon, the Town of
Allen obligates itself to pay an additional ten per cent (10%) as
Attornwy*s fees.
This warrant is one of a series of six (6) warrants numbered
consecutively from one (1) to six (6), the first two of such
warrants being in the denomination of Four Hundred ($1.400.00)Dollars
each, warrants number three and four being in the denomination of
Five Hundred ($500.00) Dollars each, and warrants number five and
six being in the denomination of Seven Hundred ($700.00) each,
issued for the purpose of evidencing the indebtedness of the Town
of Allen and pursuant to anardinance passed by the Board of Aldermen
of said Town of Allen on the 11th day of December, 190, which
ordinance is of record in Book 2 , page 78 , of the Minutes
of said Board of Aldermen of the own of Allen.
And it is hereby certified and recited that all acts, conditions
and things required to be done precedent to and in the issuance of
this warrant have been properly done, have happened, and have been
performed in regular and in due time as required by law, and that
the total indebtedness of said Town of Allen, including this warrant,
does not exeeed any constitutional or statutory limitations.
IN WITNESS WHEREOF, the Board of Aldermen of the Town of Allen
have caused the corporate seal of said Town to be affixed hereto and
this warrant to be signed by the ?dayor, counter -signed by the 'Towu
Secretary and registered by the Town Treasurer as of the date last
written above.
COUNTERSIGNED:
mayor, wn oen, zas
Registered this the _ day of
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owe
eore
tary
mayor, wn oen, zas
Registered this the _ day of
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And the form of interest coupons attached to each of said
Warrant, shall be substantially as follows:
COUPON NO. 1
TARrANT NO. 1 24-00
ON THE 15th day of
DEcErBEa, 1959
TAB TOWN TRFASURFRR OF T111' TOWN OF ALLEN, TEXAS, will
pay to the Central National Bank of McKinney, or bearer, at the
Contra'. ?Te.tional Bank of McKinney, McKinney, Texas, the sus: of
TWENTY-F'OT:M (,$211..00) DOT_,LARS, said sum being trelve months in-
terest due on that day on Town of' Allen Sewer Extension Warrant
No. 1, dated December 15, 1958, to which this coupon is attached
and made a part thereof.
mayor
Secretary 5
It is further ordained that the general revenues of the
Town of Allen, Texas, and the excess revenues from the Allen Sewer
System and the ,',llen water work System be, and they are hereby
pledged to the payment of said Warrants, except that part of same
which has not heretofore otherwise been pledged.
And all the acts of any and all of the officers of
said Town of Allen in purchasing, contracting for and agreeing
to pay for said additions and extensions to the ;ewer System
of the Town. of Allen are hereby in all things ratified, confirmed
and validated.
And it is further provided that the need for additions and
extensions to the Sewer System of the Town of Allen, which are to
be paid for by proceeds from said Warrants, creates an emergency
and this ordinance shall be in effect from and after its passage.
ATTEST:
_iC2 V
Secretary
I�
Mayor of the .own of Allen, Texas