O-271-8-79Ordinance No. 271
AN ORDINANCE by the City Council of the City of
Allen, Texas, authorizing the issuance of
$2,000,000 "CITY OF ALLEN, TEXAS, GENERAL
OBLIGATION BONDS, SERIES 1979", dated
August 1, 1979, for the purpose of making
permanent public improvements and for
public purposes; prescribing the form of the
bonds and the form of the interest coupons;
levying a continuing direct annual ad valorem
tax on all taxable property within the limits
of said City to pay the interest on said bonds
and to create a sinking fund for the redemption
thereof and providing for the assessment and
collection of such taxes; enacting provisions
incident and related to the subject and purpose
of this ordinance; and -orodiding an effective date.
i1HEREAS, pursuant to an election held in the City of Allen,
(Texas on the 30th day of June, 1979, the City Council became
authorized and -.empowered to issue general obligation bonds for
the purpose of making permanent public improvements and for
public purposes; and
WHEREAS, this City Council hereby finds and determines that
a series of general obligations bonds in the aggregate principal
amount 'of $2,000,000 should now be issued from the bonds authorized
at said election, a summary of thelamount of bonds authorized at
said election and the respective purposes, amounts being issued
pursuant to this ordinance and amounts remaining to be issued
being jas follows:
Amount
Authorized
$3,400,000
570,000
120,000
450,000
190,000
1,940,000
210,000
Purpose
Street Improvements
New City Hall Facilities
Police Facilities
Fire Fighting Facilities
Library Facilities
Park
Equipment Service Center
Amount
Unissued
Being Issued
Balance
$940,000
$2,460,000
170,000
400,000
30,000
90,000
290,000
160,000
30,000
160,000
330,000
1,610,000
210,000
-0-
AND WHEREAS, the City Council hereby reserves the right to
issue the remainder of the general obligation bonds authorized at
the aforesaid election in one or more installments and at such
time or times as this Council shall determine; therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ALLEN,
TEXAS:
SECTION 1: That the bonds of the City of Allen, Texas,
to be known as "CITY OF ALLEN, TEXAS, GENERAL OBLIGATION BONDS,
SERIES 1979", be and the same are hereby ordered to be issued in
the total principal sum of TWO MILLION DOLLARS ($2,000,000) for
the purpose of making permanent public improvements and for public
purposes, to wit: $940,000 for street improvements, including
drainage incidental thereto, $170,000 for -providing new city hall
facilities including the acquisition of a site therefor, $30,000
for providing police facilities including the proper holding cells
and security and the acquisition of a site therefor, $290,000 for
providing fire fighting facilities including the acquisition of
sites therefor, $30,000 for providin. library facilities including
the acquisition of a site therefor, 330,000 for acquiring or
improving, or both, land for park purposes and $210,000 for pro-
viding an equipment service center including the acquisition of
a site therefor, under and by virute of the Constitution and laws
of the State of Texas.
SECTION 2: That said bonds shall be numbered consecutively
from One 1 through Four Hundred (400); shall each be in the
denomination of Five Thousand Dollars ($5,000); aggregating in
principal amount TWO MILLION DOLLARS ($2,000,000); shall be dated
August 1, 1979; and shall become due and payable serially on
August 1 in each of the years and bear interest at the per annum
rates in accordance with the following schedule:
BOND NUMBERS
(All Inclusive) MATURITY
INTEREST
AMOUNT RATE
1
to
3
1982
$ 15,0.00
6.25%
4
to
6
1983
15,000
6.25%
7
to
9
1984
15,000
6.25%
10
to
12
1985
15,000
6.25%
13
to
16
1986
20,000
6.25%
17
to
20
1987
20,000
6.25%
21
to
24
1988
20,000
6.25%
25
to
29
1989
25,000
6.25%
30
to
34
1990
25,000
6.50%
35
to
39
1991
25,000
6.50%
40
to
45
1992
30,000
6.50%
46
to
51
1993
30,000
6.50%
52
to
57
1994
30,000
6.50%
58
to
65
1995
40,000
6.75%
66
to
73
1996
40,000
6.75%
74
to
88
1997
75,000
6.75%
89.
to
104
1998
80,000
6.75%
105
to
122
1999
90,000
6.75%
123
to
142
2000
100,000
7.00%
143
to
165
2001
115,000
7.00%
166
to
191
2002
130,000
7.00%
192:to
218
2003
135,000
7.00%
2191to
246
.2004
140,000
7.00%
247-to'274
2005
140;000
7.00%
275
to
304
2006
150,000
7.00%
305
to
334
2007
150,000
7.00%
335
to
366
2008
160,000
7.00%
367
to
400
2009
170,000
7.00'!
PROVIDED, HOWEVER, that the City reserves the right to redeem
the bonds of this series maturing on August 1, 2000 and subsequent,
in whole or in part (but in inverse numerical order if less than
all), on August 1, 1999, or on any interest payment date thereafter
at the price of par and accrued'interest to the date fixed for
redemption; PROVIDED, FURTHER, that at least thirty (30) days
prior to a -date any of said bonds are to be redeemed, a notice of
redemption, signed by the City Secretary (specifying the serial
numbers and amount of bonds to be redeemed), shall have been
filed with the MERCANTILE NATIONAL BANK AT DALLAS, Dallas, Texas
(the paying agent named in each of said bonds); and if the City
shall have made available by the date of redemption funds in
amounts sufficient to pay the bonds to be redeemed and accrued
interest thereon, any bond or bonds not presented for redemption
pursuant to such notice shall cease to bear interest from and
after the date so fixed for redemption.
SECTION 3: That the bonds of said series shall bear interest
from date until maturity at the per annum rates shown above, such
interest to be evidenced by proper coupons attached to each of
said bonds and said interest shall be payable on February 1, 1980,
and semiannually thereafter on August 1 and February 1 in each
year.
SECTION 4: That both principal of and interest on this
issue of bonds shall be payable in lawful money of the United
States of America, without exchange or collection charges to the
owner or holder, at the MERCANTILE NATIONAL BANK AT DALLAS,
Dallas, Texas, upon presentation and surrender of bonds or proper
coupons.
SECTION 5: That the seal of said City may be impressed on
each o said aid bonds, o r'in the alternative, a facsimile of such
seal may be printed on the said bonds. The bonds and interest
coupons appurtenant thereto may be executed by the imprinted
facsimile signatures of the Mayor and City Secretary of the City,
and execution in such manner shall have the same effect as if
such bonds and coupons had been signed by the Mayor and City
Secretary in person by their manual signatures. Inasmuch as -such
bonds are required to be registered by the Comptroller of Public
Accounts for State of Texas, only his signature (or that of a
deputy designated in writing to act for the Comptroller) shall
be required to be manually subscribed to such bonds in connection
with his registration certificate to appear thereon, as hereinafter
provided; all in accordance with the provisions of Article 717j-1,
V.A.T.C.S.
SECTION 6: That the form of said bonds shall be substantially
as follows:
110. UNITED STATES OF AMERICA $5,000
STATE OF TEXAS
COUNTY OF COLLIN
CITY OF ALLEN, TEXAS,
GENERAL OBLIGATION BOND,
SERIES 1979
The CITY OF ALLEN, a municipal corporation of the State of
Texas, acknowledges itself indebted to and, FOR VALUE RECEIVED,
hereby promises to pay to bearer, the sum of
FIVE THOUSAND DOLLARS
($5,000), in lawful money of the United States of America, on the
FIRST DAY OF AUGUST, , with interest thereon from the
date hereof to maturity at the rate of
PER CENTUM ( %) per annum, payable on February 1, 1980, and
semiannually thereafter on August 1 and February 1 in each year,
and interest falling due on or prior to maturity hereof is payable
only upon presentation and surrender of the -:interest coupons
hereto attached as they severally become due.
BOTH PRINCIPAL OF AND INTEREST ON this bond are hereby made
payable at the MERCANTILE NATIONAL BANK AT DALLAS, Dallas, Texas,
without exchange or collection charges to the owner or holder, and
for the prompt payment of this bond and the interest thereon at
maturity, the full faith, credit and resources of the City of
Allen, Texas, are hereby irrevocably pledged.
THIS BOND is one of a series of Four Hundred (400) serial
bonds, numbered consecutively from One (1) through Four Hundred
(400), each in the denomination of Five Thousand Dollars ($5,000),
aggregating in principal amount TWO MILLION DOLLARS ($2,000,000),
issued for the purpose of making permanent public improvements and
for public purposes, to wit: $940,000 for street improvements,
including drainage incidental thereto, $170,000 for providing new
city hall facilities including the acquisition of a site therefor,
$30,000 for providing police facilities including the proper
holding cells and security and the acquisition of -a site "therefor,
$290,000 for providing fire fighting facilities including the
acquisition of sites therefor, $30,000 for providing library
facilities including the acquisition of a site therefor, $330,000
for acquiring or improving, or both, land for park purposes and
$210,000 for providing an equipment service center including the
acquisition of a site therefor, under authority of the Constitution
and laws of the State of Texas, and pursuant to an ordinance duly
passed and adopted by the City Council of the City of Allen, Texas,
and duly recorded in the Minutes of said City Council.
AS SPECIFIED in the ordinance hereinabove mentioned, the
City reserves the right to redeem the bonds of said series maturing
on August 1, 2000, and subsequent, in whole or in part (but in
inverse numerical order if less than all), on August 1, 1999, or
on any interest payment date thereafter at the price of par and
accrued interest to the date fixed for redemption; PROVIDED,
HOWEVER, that at least thirty (30) days prior to a date any of
said bonds are to be redeemed, a notice of redemption, signed by
the City SAcretary (specifying the serial numbers and amount of
bonds to be redeemed), shall have been filed with the MERCANTILE
NATIONAL BANK AT DALLAS, Dallas, Texas; and if the City shall have
made available by the date of redemption funds in amounts
sufficient'to pay the bonds to be redeemed and accrued interest
thereon, any bond;or bonds not presented for redemption pursuant
to such notice shall cease to b aer interest from and after the date
so fixed for redemption.
IT IS HEREBY CERTIFIED, RECITED AND REPRESENTED that the
issuance of this bond and the series of which it is a part is
duly authorized by law and by an election held for that purpose
within said City; that all acts, conditions and things required
to be done precedent to and in the issuance of this series of
bonds and of this bond, have been properly done and performed,
and have happened in regular and due time, form and manner as
required by law; that sufficient and proper provision for the
levy and collection of taxes has been made which, when collected,
shall be appropriated exclusively to the payment of this bond
and the series of which it is a part, and to the payment of the
interest coupons thereto annexed as the same shall become due;
and that the total indebtedness of the City of Allen, Texas,
including the entire series of bonds of which this bond is one,
does not exceed any constitutional or statutory limitation.
IN TESTIMONY WHEREOF, the City Council of the City of Allen,
Texas, in accordance with the provisions of Article 717j-1,
V.A.T.C.S., has caused the seal of said City to be impressed or
a facsimile thereof to be printed hereon, and this bond and its
appurtenant coupons to be executed with the imprinted facsimile
signatures of the Mayor and City Secretary of said City; the
date of this bond in conformity with the ordinance above referred
to being the FIRST DAY OF AUGUST, 1979.
Mayor, City o -Al-re-n, Texas
COUNTERSIGNED:
City Secretary, City of Allen, Texas
SECTION 7: That the form of the interest coupons attached
to each o said bonds shall be substantially as follows:
110. ON THE FIRST DAY OF $
*(unless the bond to which this coupon pertains has been redeemed
in accordance with its terms,), the CITY OF ALLEN, in the,
County of Collin, State of Texas, hereby promises to pay to bearer
the amount shown hereon in lawful money of the United States of
America, upon presentation and surrender of this coupon, at the
MERCANTILE NATIONAL BANK AT DALLAS, Dallas, Texas, without exchange
or collection charges, such amount being interest due on such date
on "CITY OF ALLEN, TEXAS, GENERAL OBLIGATION BDND`, SERIES 1979
dated August 1, 1979. Bond No.
ty secretary Mayor
SECTION 8: That the following certificate shall be printed
on the back of each bond:
OFFICE OF COMPTROLLER
§ REGISTER NO.
STATE OF TEXAS §
I HEREBY CERTIFY that there is on file and of record in my
office a certificate of the Attorney General of the State of Texas,
to the effect that this bond has been examined by him as required
by law, and that he finds that it has been issued in conformity
with the Constitution and laws of the State of Texas, and that it
is a valid and binding obligation upon said City of Allen, Texas,
and said bond has this day been registered by me.
WITNESS MY HAND AND SEAL OF OFFICE at Austin, Texas,
Comptroller of Public Accounts
,of the State of Texas
SECTION 9: That to provide for the payment of the debt
service requirements on said bonds, being (i) the interest on
said bonds and (ii) a sinking fund for their redemption at
maturity or a sinking fund of 2% (whichever amount shall be
greater), there shall be and there is hereby levied for the
current year and each succeeding year thereafter while said
bonds or interest thereon shall remain outstanding and unpaid,
a sufficient tax on each one hundred dollars' valuation of
taxable property in said City, adequate to pay such debt service
requirements, full allowance being made for delinquencies and
costs of collection; said tax shall be assessed and collected
each year and applied to the payment of the said debt service
requirements, and the same shall not be'diverted to any other
purpose. The taxes so levied shall be paid into a fund known
as "SPECIAL SERIES 1979 GENERAL OBLIGATION BOND FUND", which is
hereby established for the payment of the obligations herein
authorized. The Council hereby declares its purpose and intent
to provide and levy a tax legally and fully sufficient for such
bonds, it having been determined that the existing and available
taxing authority of the City for such purpose is adequate to
permit a legally sufficient tax in consideration of all other
outstanding obligations.
*NOTE TO PRINTER: The expression in parenthesis to be included
only in coupons maturing February 1, 2000, and subsequent, per-
taining to optional bonds maturing in the years 2000 through 2009.
Z
SECTION 10: That the sale of the bonds herein authorized
o SCHNEIDER, BERNET & HICKMAN, INC., Dallas, Texas, at the price
f par and accrued interest to the date of delivery, is hereby
onfirmed. Delivery of the bonds shall be made to said purchasers
s soon as may be after the adoption of this ordinance, upon pay-
ent therefor in accordance with the terms of sale.
SECTION 11: That the purchasers' obligation to accept
delivery of the bonds herein authorized is subject to their
being furnished a final opinion of Messrs. Dumas, Huguenin,
Boothman and Morrow, Attorneys, Dallas, Texas, approving such
bonds -as to their validity, said opinion to be dated and delivered
as of the date of delivery and payment for such bonds. Printing
of a true and correct copy of said opinion on the reverse side of
each of such bonds, with appropriate certificate pertaining
thereto executed by the facsimile signature of the City Secretary
of the City of Allen, Texas, is hereby approved and authorized.
SECTION 12: That the City hereby covenants that the proceeds
from the sale—of said bonds will be used as soon as practicable
for the purposes for which said bonds are issued; that such
proceeds will not be invested in any securities or obligations
except for the temporary pending such use; and that such proceeds
will not be used directly or indirectly so as to cause all or
any part of said bonds to be or become "arbitrage bonds" within
the meaning of Section 103(c) of the Internal Revenue Code of
1954, as amended, or any regulations or rulings prescribed or made
Pursuant thereto.
SECTION 13: That the Mayor of said City shall be and is
hereby authorized to take and have charge of all necessary orders
and records pending investigation by the Attorney General of the
State of Texas, and shall take and have charge and control of the
bonds herein authorized pending their approval by the Attorney
General and their registration by the Comptroller of Public
Accounts.
SECTION 14: That CUSIP numbers may be printed on the bonds
herein authorized. It is expressly provided, however, that the
presence or absence,of CUSIP numbers on the -bonds shall be of no
significance or effect as regards the legality thereof and neither
the City nor attorneys approving said bonds as to legality are to
be held responsible for CUSIP numbers incorrectly printed on the
bonds.
SECTION 15: That this ordinance shall take effect and be
in full—for ec immediately from and after its passage.
PASSED AND APPROVED, this the 2nd day o ugust; 1979.
Mayor, City of Allen, Texas
TEST:
t
lity Secretary, City o en, Texas
(City Seal)
Ordinance No. 271
MINUTES PERTAINING TO ORDINANCE AUTHORIZING THE ISSUANCE
OF $2,000,000 "CITY OF ALLEN, TEXAS, GENERAL OBLIGATION
BONDS, SERIES 1979", DATED AUGUST 1, 1979
THE STATE OF TEXAS §
COUNTY OF COLLIN §
CITY OF ALLEN §
ON THIS, the 2nd day of August, 1979,the City Council of the
City of Allen, Texas, convened in regular session at the regular
meeting place thereof in the.�jrH•a� the meeting being open to
the public and notice of said meeting having been given as
prescribed by Article 6252-17, Section 3A, V.A.T.C,S., with the
following members being present and in attendance, towit:
MICKEY PIERSON MAYOR
JOE FARMER MAYOR PRO TEM
GLEN ANDREW )
CHARLES CHANDLER )
H. R. DAUGHERTY j COUNCILMEN
REX WOMACK
RICHARD L. CHUMBLEY )
and with the following absent:
constituting a quorum; and anio?ing
her siness considered at said
meeting, an ordinance was submto the City Council for passage
and adoption, such ordinance bentitled as follows:
"AN ORDINANCE by the City Council of the City of
Allen, Texas, authorizing the issuance of
$2,000,000 'CITY OF ALLEN, TEXAS, GENERAL
OBLIGATION BONDS, SERIES 1979', dated
August 1, 1979, for the purpose of making
permanent public improvements and for
public purposes; prescribing the form of the
bonds -and the form of the interest coupons;
levying a continuing direct annual ad valorem
tax on all taxable property within the limits
of said City to pay the interest on said bonds
and to create a sinking fund for the redemption
thereof and providing for the assessment and
collection of such taxes; enacting provisions
incident and related to the subject and purpose
of this ordinance; and providing an effective date."
The ordinance was read in full. Thereupon,
made a motion that the ordinance b passed and adopte ina
y.
The motion was seconded by
by the following vote:
and carried
AYES: Mayor Pierson and Councilmen �, Andrew,
Chandler, Daugherty, Womack and Chumbley.
NOES: None.
The Presiding Officer then announced that the ordinance
had been finally passed and adopted.
MINUTES APPROVED, this the 2n da 4oA
gust, 1979.
Mayor, �ity len, Texas
ATTEST:
Qom✓
C',y Secretary, ity o A;r, Texas
(City Seal)
Ordinance No. 271_ _
MINUTES PERTAINING TO ORDINANCE AUTHORIZING THE ISSUANCE
OF $2,000,000 "CITY OF ALLEN, TEXAS, GENERAL OBLIGATION
BONDS, SERIES 1979", DATED AUGUST 1., 1979
THE STATE OF TEXAS
COUNTY OF COLLIN
CITY OF ALLEN
ON THIS, the 2nd day of August, 1979,the City Council of the
City of Allen, Texas, convened in regular session at the regular
meeting place thereof in the Etty Hall, the meeting being open to
the public and notice of said meeting having been given as
prescribed by Article 6252-17, Section 3A, V.A.T.C.S., with the
following members being present and in attendance, towit:
MICKEY PIERSON MAYOR
JOE FARMER MAYOR PRO TEM
GLEN ANDREW )
CHARLES CHANDLER )
H. R. DAUGHERTY ) COUNCILMEN
REX WOMACK )
RICHARD L. CHUMBLEY )
and with the following absent:,
constituting a quorum; and amon other siness considered at said
meeting, an ordinance was submted to the City Council for passage
and adoption, such ordinance b'ing entitled as follows:
"AN ORDINANCE by the City Council of the City of
Allen, Texas, authorizing the issuance of
$2,000,000 'CITY OF ALLEN, TEXAS, GENERAL
OBLIGATION BONDS, SERIES 1979', dated
August 1, 1979, for the purpose of making
permanent public improvements and for
public purposes; prescribing the form of the
bonds and the form of the interest coupons;
levying a continuing direct annual ad valorem
tax on all taxable property within the limits
of said City to pay the interest on said bonds
and to create a sinking fund for the redemption
thereof and providing for the assessment and
collection of such taxes; enacting provisions
incident and related to the subject and purpose
of this ordinance; and providing an effective date."
The ordinance was read in full. Thereupon,) A."
-
made a motion that the ordinance bpassed and adopte ina y.
The motion was seconded byand carried
by the following vote:
AYES: Mayor Pierson and Councilmen Affamrr, Andrew,
Chandler, Daugherty, Womack and Chumbley.
NOES: None.
The Presiding Officer then announced that the ordinance
had been finally passed and adopted.
MINUTES APPROVED, this the 2n
da
of
gust,
1979.
Mayor,
C qty
o
Allen,
Texas
1: ATTEST:
7 C' y Secretary, City o Texas
(City-,SexlJ-
Ordinance No. 271
AN ORDINANCE by the City Council of the City of
Allen, Texas, authorizing the issuance of
$2,000,000 "CITY OF ALLEN, TEXAS, GE14ERAL
OBLIGATION BONDS, SERIES 1979", dated
August 1, 1979, for the purpose of making
permanent public improvements and for
public purposes; prescribing the form of the
bonds and the form of the interest coupons;
levying a continuing direct annual ad valorem
tax on all taxable property within the limits
of said City to pay the interest on said bonds
and to create a sinking fund for the redemption
thereof and providing for the assessment and
collection of such taxes; enacting provisions
incident and related to the subject and purpose
of this ordinance; and providing an effective date.
1HEREAS, pursuant to an election held in the City of Allen,
Texas on the 30th day of June, 1979, the City Council became
authorized and empowered to issue general obligation bonds for
the purpose of making permanent public improvements and for
public purposes; and
WHEREAS, this City Council hereby finds and determines that
a series of general obligations bonds in the aggregate principal
amount 'of $2,000,000 should now be issued from the bonds authorized
at said election, a summary of thel.amount of bonds authorized at
said election and the respective purposes, amounts being issued
pursuant to this ordinance and amounts remaining to be issued
being gas follows:
Amount
Unissued
Authorized
Purpose
$3,400,000
Street Improvements
570,000
New City Hall Facilities
120,000
Police Facilities
450,000
Fire Fighting Facilities
190,000
Library Facilities
1,940,000
Park
210,000
Equipment Service Center
Amount
Unissued
Being Issued
Balance
$940,000
$2,460,000
170,000
400,000
30,000
90,000
290,000
160,000
30,000
160,000
330,000
1,610,000
210,000
-0-
AND WHEREAS, the City Council hereby reserves the right to
issue the remainder of the general obligation bonds authorized at
the aforesaid election in one or more installments and at such
time or times as this Council shall determine; therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ALLEN,
TEXAS:
SECTION 1: That the bonds of the City of Allen, Texas,
to be known as "CITY OF ALLEN, TEXAS, GENERAL OBLIGATION BONDS,
SERIES 1979", be and the same are hereby ordered to be issued in
the total principal sum of TWO MILLION DOLLARS ($2,000,000) for
the purpose of making permanent public improvements and for public
purposes, to wit: $940,000 for street improvements, including
drainage incidental thereto, $170,000 for providing new city hall
facilities including the acquisition of a site therefor, $30,000
for providing police facilities including the proper holding cells
and security and the acquisition of a site therefor, $290,000 for
providing fire fighting facilities including the acquisition of
sites therefor, $30,000 for providinlibrary facilities including
the acquisition of a site therefor, ,330,000 for acquiring or
improving, or both, land for park purposes and $210,000 for pro-
viding an equipment service center including the acquisition of
a site therefor, under and by virute of the Constitution and laws
of the State of Texas.
'; SECTION 2: That said bonds shall be numbered consecutively
li
from One 1 through Four Hundred (400); shall each be in the
';denomination of Five Thousand Dollars ($5,000); aggregating in
{1principal amount TWO MILLION DOLLARS ($2,000,000); shall be dated
+
August 1, 1979; and shall become due and payable serially on
;August 1 in each of the years and bear interest at the per annum
!!rates in accordance with the following schedule:
BOND NUMBERS
j(All Inclusive) MATURITY
INTEREST
AMOUNT RATE
1
to
3
1982
$ 15,0.00
6.25%
4
to
6
1983
15,000
6.25%
7
to
9
1984
15,000
6.25%
10
to
12
1985
15,000
6.25%
13
to
16
1986
20,000
6.25%
17
to
20
1987
20,000
6.25%
21
to
24
1988
20,000
6.25%
25
to
29
1989
25,000
6.25%
30
to
34
1990
25,000
6.50%
35
to
39
1991
25,000
6.50%
40
to
45
1992
30,000
6.50%
46
to
51
1993
30,000
6.50%
52
to
57
1994
30,000
6.50%
58
to
65
1995
40,000
6.75%
66
to
73
1996
40,000
6.75%
74
to
88
1997
75,000
6.75%
89.
to
104
1998
80,000
6.75%
105
to
122
1999
90,000
6.75%
123
to
142
2000
100,000
7.00%
143
to
165
2001
115,000
7.00%
166
to
191
2002
130,000
7.00%
192
to
218
2003
135,000
7.00%
2191to
246
.2004
140,000
7.00%
247
to
274
2005
140;000
7.00%
275
to
304
2006
150,000
7.00%
305
334
2007
150,000
7.00%
to
335 to 366 2008 160,000 7.00%
367 to 400 2009 170,000 7.00°!
PROVIDED, HOWEVER, that the City reserves the right to redeem
1the bonds of this series maturing on August 1, 2000 and subsequent,
,in whole or in part (but in inverse numerical order if less than
'fall), on August 1, 1999, or on any interest payment date thereafter
lat the price of par and accrued interest to the date fixed for
,redemption; PROVIDED, FURTHER, that at least thirty (30) days
'1prior to a date any of said bonds are to be redeemed, a notice of
�Iredemption, signed by the City Secretary (specifying the serial
(numbers and amount of bonds to be redeemed), shall have been
('filed with the MERCANTILE NATIONAL BANK AT DALLAS, Dallas, Texas
!.1 (the paying agent named in each of said bonds) ; and if the City
;shall have made available by the date of redemption funds in
' and accrued
amounts sufficient to pay the bonds to be redeemed
interest thereon, any bond or bonds not presented for redemption
pursuant to such notice shall cease to bear interest from and
rafter the date so fixed for redemption.
SECTION 3: That the bonds of said series shall bear interest
,from. ate until maturity at the per annum rates shown above, such
'';interest to be evidenced by proper coupons attached to each of
1zsaid bonds and said interest shall be payable on February 1, 1980,
11and semiannually thereafter on August 1 and February 1 in each
,year.
SECTION 4: That both principal of and interest on this
issue o onds shall be payable in lawful money of the United
:States of America, without exchange or collection charges to the
owner or holder, at the MERCANTILE NATIONAL BANK AT DALLAS,
'Dallas, Texas, upon presentation and surrender of bonds or proper
coupons.
SECTION 5: That the seal of said City may be impressed on
'each of said bonds, or in the alternative, a facsimile of such
{seal may be printed on the said bonds. The bonds and interest
1coupons appurtenant thereto may be executed by the imprinted
facsimile signatures of the Mayor and City Secretary of the City,
'land execution in such manner shall have the same effect as if
11such bonds and coupons had been signed by the Mayor and City
;Secretary in person by their manual signatures. Inasmuch as such
�Ibonds are required to be registered by the Comptroller of Public
';Accounts for State of Texas, only his signature (or that of a
+;deputy designated in writing to act for the Comptroller) shall
1;be required to be manually subscribed to such bonds in connection
1Iwith his registration certificate to appear thereon, as hereinafter
provided; all in accordance with the provisions of Article 717j-1,
�j V.A.T.C.S.
{� SECTION 6: That the form of said bonds shall be substantially
<< as follows:
UNITED STATES OF AMERICA $5,000
STATE OF TEXAS
COUNTY OF COLLIN
CITY OF ALLEN, TEXAS,
GENERAL OBLIGATION BOND,
SERIES 1979
i! The CITY OF ALLEN, a municipal corporation of the State of
IITexas, acknowledges itself indebted to and, FOR VALUE RECEIVED,
hereby promises to pay to bearer, the sum of
+� FIVE THOUSAND DOLLARS
i�
($5,000), in lawful money of the United States of America, on the
11FIRST DAY OF AUGUST, with interest thereon from the
!#date hereof to maturity at t e rate of
;JPER CENTUM ( %) per annum, payable on February 1, 80 , ani
11;semiannually t ere after on August 1 and February 1 in each year,
J and interest falling due on or prior to maturity hereof is payable
11only upon presentation and surrender of the' interest coupons
1hereto attached as they severally become due.
'! BOTH PRINCIPAL OF AND INTEREST ON this bond are hereby made
jpayable at the MERCANTILE NATIONAL BANK AT DALLAS, Dallas, Texas,
without exchange or collection charges to the owner or holder, and
for the prompt payment of this bond and the interest thereon at
maturity, the full faith, credit and resources of the City of
JjAllen, Texas, are hereby irrevocably pledged.
1!
I:
THIS BOND is one of a series of Four Hundred (400) serial
111bonds, numbered consecutively from One (1) through Four Hundred
"(400), each in the denomination of Five Thousand Dollars ($5,000),
li!aggregating in principal amount TWO MILLION DOLLARS ($2,000,000),
:jissued for the purpose of making permanent public improvements and
'for public purposes, to wit: $940,000 for street improvements,
iincluding drainage incidental thereto, $170,000 for providing new
r!
I
i
if
!'city hall facilities including the acquisition of a site therefor,
}$30,000 for providing police facilities including the proper
,holding cells and security and the acquisition of a site "therefor,
,x$290,000 for providing fire fighting facilities including the
000 for providing library
acquisition of sites therefor, S30,000
,$330000facilities including the acquisition of a site therefor, ,
1;for acquiring or improving, or both, land for park purposes and
;$210,000 for providing an equipment service center including the
;)acquisition of a site therefor, under authority of the Constitution
''and laws of the State of Texas, and pursuant to an ordinance duly
passed and adopted by the City Council of the City of Allen, Texas,
iland duly recorded in the Minutes of said City Council.
�� AS SPECIFIED in the ordinance hereinabove mentioned, the
l;City reserves the right to redeem the bonds of said series maturing
i; on August 1, 2000, and subsequent, in whole or in part (but in
'linverse numerical order if less than all), on August 1, 1999, or
i!on any interest payment date thereafter at the price of par and
)iaccrued interest to the date fixed for redemption; PROVIDED,
1i11O EVER, that at least thirty (30) days prior to a date any of
it bonds are to be redeemed, a notice of redemption, signed by
the City Secretary (specifying the serial numbers and amount of
Ibonds to be redeemed), shall have been filed with the MERCANTILE
NATIONAL BANK AT DALLAS, Dallas, Texas; and if the City shall have
imade available by the date of redemption fundsin amodnts
interest
'i sufficient to pay the bonds to be redeemed and
IIthereon, any bond,or bonds not presented for redemption pursuant
to such notice shall cease to baer interest from and after the date
!!c, so fixed for redemption.
�1 IT IS HEREBY CERTIFIED, RECITED AND REPRESENTED that the
'!issuance of this bond and the series of which it is a part is
)duly authorized by law and by an election held for that purpose
;within said City; that all acts, conditions and things required
to be done precedent to and in the issuance of this series of
,')bonds and of this bond, have been properly done and performed,
)land have happened in regular and due time, form and manner as
by law; that sufficient and proper provision for the
;.required
levy and collection of taxes has been made which, when collected,
0 shall be appropriated exclusively to the payment of this bond
;;and the series of which it is a part, and to the payment of the
t.: interest coupons thereto annexed as the same shall become due;
;and that the total indebtedness of the City of Allen, Texas,
including the entire series of bonds of which this bond is one,
1does not exceed any constitutional or statutory limitation.
IN TESTIMONY WHEREOF, the City Council of the City of Allen,
j Texas, in accordance with the provisions of Article 717j-1,
�V.A.T.C.S., has caused the seal of said City to be impressed or
a facsimile thereof to be printed hereon, and this bond and its
11 appurtenant coupons to be executed with the imprinted facsimile
!E signatures of the Mayor and City Secretary of said City; the
j; date of this bond in conformity with the ordinance above referred
�4to being the FIRST DAY OF AUGUST, 1979.
E
i�
);Mayor, City of Allen, Texas
COUNTERSIGNED:
j City Secretary, City o Alen, Texas
M
i;
Ordinance No. 271 _
MINUTES PERTAINING TO ORDINANCE AUTHORIZING THE ISSUANCE
OF $2,000,000 "CITY OF ALLEN, TEXAS, GENERAL OBLIGATION
BONDS, SERIES 1979", DATED AUGUST 1, 1979
1'
THE STATE OF TEXAS §
COUNTY OF COLLIN §
CITY OF ALLEN
ON THIS, the 2nd day of August, 1979,the City Council of the
City of Allen, Texas, convened in regular session at the regular
meeting place thereof in the 6-i•ty Hall, the meeting being open to
the public and notice of said meeting having been given as
prescribed by Article 6252-17, Section 3A, V.A.T.C.S., with the
following members being present and in attendance, towit:
MICKEY PIERSON
JOE FARMER
GLEN ANDREW
CHARLES CHANDLER
H. R. DAUGHERTY
REX WOMACK
MAYOR
MAYOR PRO TEM
COUNCILMEN
RICHARD L. CHUMBLEY )
and with the following absent: ,
constituting a quorum; and amon other siness considered at said
meeting, an ordinance was subm�u
ted to the City Council for passage
and adoption, such ordinance being entitled as follows:
"AN ORDINANCE by the City Council of the City of
Allen, Texas, authorizing the issuance of
! $2,000,000 'CITY OF ALLEN, TEXAS, GENERAL
OBLIGATION BONDS, SERIES 1979', dated
August 1, 1979, for the purpose of making
permanent public improvements and for
public purposes; prescribing the form of the
�i bonds:and the form of the interest coupons;
�j levying a continuing direct annual ad valorem
tax on all taxable property within the limits
�! of said City to p.ay the interest on said bonds
and to create a sinking fund for the redemption
thereof and providing for the assessment and
collection of such taxes; enacting provisions
!� incident and related to the subject and purpose
of this ordinance; and providing an effective date."
i!
The ordinance was read in full. Thereupon,
made a motion that the ordinance b passed and adoTeE6"-d7f!—nat%y.
j The motion was seconded by and carried
by the following vote:
AYES: Mayor Pierson and Councilmen Pier, Andrew,
Chandler, Daugherty, Womack and Chumbley.
NOES: None.
The Presiding Officer then announced that the ordinance
had been finally passed and adopted.
MINUTES APPROVED, this the 2n
da
;2fgust,
1979.
Mayor,
City
of Allen,
Texas
1i ATTEST:
Ci&y Secretary, City of Ar, Texas
Ordinance No. 271
AN ORDINANCE by the City Council of the City of
Allen, Texas, authorizing the issuance of
$2,000,000 "CITY OF ALLEN, TEXAS, GENERAL
OBLIGATION BONDS, SERIES 1979", dated
August 1, 1979, for the purpose of making
permanent public improvements and for
public purposes; prescribing the form of the
bonds and the form of the interest coupons;
levying a continuing direct annual ad valorem
tax on all taxable property within the limits
of said City to pay the interest on said bonds
and to create a sinking fund for the redemption
thereof and providing for the assessment and
collection of such taxes; enacting provisions
incident and related to the subject and purpose
of this ordinance; and providing an effective date.
11HEREAS, pursuant to an election held in the City of Allen,
Texas on the 30th day of June, 1979, the City Council became
authorized and empowered to issue general obligation bonds for
the purpose of making permanent public improvements and for
public purposes; and
WHEREAS, this City Council hereby finds and determines that
a series of general obligations bonds in the aggregate principal
amount 'of $2,000,000 should now be issued from the bonds authorized
at said election, a summary of theiamount of bonds authorized at
said election and the respective purposes, amounts being issued
pursuant to this ordinance and amounts remaining to be issued
being gas follows:
Amount
Authorized
$3,400,000
570,000
120,000
450,000
190,000
1,940,000
210,000
Purpose
Street Improvements
New City Hall Facilities
Police Facilities
Fire Fighting Facilities
Library Facilities
Park
Equipment Service Center
Amount
Unissued
Being Issued
Balance
$940,000
$2,460,000
170,000
400,000
30,000
90,000
290,000
160,000
30,000
160,000
330,000
1,610,000
210,000
-0-
AND WHEREAS, the City Council hereby reserves the right to
issue the remainder of the general obligation bonds authorized at
the aforesaid election in one or more installments and at such
time or times as this Council shall determine; therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ALLEN,
TEXAS:
SECTION 1: That the bonds of the City of Allen, Texas,
to be known as "CITY OF ALLEN, TEXAS, GENERAL OBLIGATION BONDS,
SERIES 1979", be and the same are hereby ordered to be issued in
the total principal sum of TWO MILLION DOLLARS ($2,000,000) for
the purpose of making permanent public improvements and for public
purposes, to wit: $940,000 for street improvements, including
drainage incidental thereto, $170,000 for providing new city hall
facilities including the acquisition of a site therefor, $30,000
for providing police facilities including the proper holding cells
and security and the acquisition of a site therefor, $290,000 for
providing fire fighting facilities including the acquisition of
sites therefor, $30,000 for providinlibrary facilities including
the acquisition of a site therefor, 330,000 for acquiring or
improving, or both, land for park purposes and $210,000 for pro-
viding an equipment service center including the acquisition of
a site therefor, under and by virute of the Constitution and laws
of the State of Texas.
SECTION 2: That said bonds shall be numbered consecutively
!;from One 1 through Four Hundred (400); shall each be in the
'denomination of Five Thousand Dollars ($5,000); aggregating in
,!principal amount TWO MILLION DOLLARS ($2,000,000); shall be dated
'August 1, 1979; and shall become due and payable serially on
IlAugust 1 in each of the years and bear interest at the per annum
sIrates in accordance with the following schedule:
BOND
NUMBERS
INTEREST
1!(All Inclusive)
MATURITY
AMOUNT
RATE
1
to
3
1982
S 15,000
6.25%
4
to
6
1983
15,000
6.25%
7
to
9
1984
15,000
6.25%
10
to
12
1985
15,000
6.25%
13
to
16
1986
20,000
6.25%
17
to
20
1987
20,000
6.25%
21
to
24
1988
20,000
6.25%
25
to
29
1989
25,000
6.25%
30
to
34
1990
25,000
6.50%
35
to
39
1991
25,000
6.50%
' 40
to
45
1992
30,000
6.50%
6.50'/0
' 46
to
51
1993
30,000
52
to
57
1994
30,000
6.50%
�1 58
to
65
1995
40,000
6.75%
66
to
73
1996
40,000
6.75%
74
to
88
1997
75,000
6.75%
89.
to
104
1998
80,000
6.75%
105
to
122
1999
90,000
6.75%
123
to
142
2000
100,000
7.00%
143
to
165
2001
115,000
7.00%
166
to
191
2002
130,000
7.00°1°
192
to
218
2003
135,000
7.00%
i 219;to
246
.2004
140,000
7.00%
247
to
274
2005
140;000
7.00%
i; 275
to
304
2006
150,000
7.00%
305
to
334
2007
150,000
7.00%
�+ 335
to
366
2008
160,000
7.00%
(i 367
to
400
2009
170,000
7.00%
PROVIDED, HOWEVER, that the City reserves the right to redeem
Ithe bonds of this series maturing on August 1, 2000 and subsequent,
iln whole or in part (but in inverse numerical order if less than
iall), on August 1, 1999, or on any interest payment date thereafter
!at the price of par and accrued'.interest to the date fixed for
;redemption; PROVIDED, FURTHER, that at least thirty (30) days
prior to a date any of said bonds are to be redeemed, a notice of
(redemption, signed by the City Secretary (specifying the serial
(numbers and amount of bonds to be redeemed), shall have been
filed with the MERCANTILE NATIONAL BANK AT DALLAS, Dallas, Texas
(the paying agent named in each of said bonds) ; and if the City
shall have made available by the date of redemption funds in
lamounts sufficient to pay the bonds to be redeemed and accrued
interest thereon, any bond or bonds not presented for redemption
'pursuant to such notice shall cease to bear interest from and
after the date so fixed for redemption.
SECTION 3: That the bonds of said series shall bear interest
+'from date until maturity at the per annum rates shown above, such
'interest to be evidenced by proper coupons attached to each of
;said bonds and said interest shall be payable on February 1, 1980,
;and semiannually thereafter on August 1 and February 1 in each
11year.
it
SECTION 4: That beth principal of and interest on this
issue o onds shall be payable in lawful money of the United
;States of America, without exchange or collection charges to the
+`owner or holder, at the MERCANTILE NATIONAL BANK AT DALLAS,
< Dallas, Texas, upon presentation and surrender of bonds or proper
!;coupons.
SECTION 5: That the seal of said City may be impressed on
1 each of said bonds, or'in the alternative, a facsimile of such
,!seal may be printed on the said bonds. The bonds and interest
+;coupons appurtenant thereto may be executed by the imprinted
'facsimile signatures of the Mayor and City Secretary of the City,
land execution in such manner shall have the same effect as if
such bonds and coupons had been signed by the Mayor and City
Secretary in person by their manual signatures. Inasmuch as such
;!bonds are required to be registered by the Comptroller of Public
l Accounts for State of Texas, only his signature (or that of a
jjdeputy designated in writing to act for the Comptroller) shall
,,be required to be manually subscribed to such bonds in connection
:!with his registration certificate to appear thereon, as hereinafter
,provided; all in accordance with the provisions of Article 717j-1,
li V.A.T.C.S.
- SECTION 6: That the form of said bonds shall be substantially
as follows:
P10. UNITED STATES OF AMERICA $5,000
STATE OF TEXAS
COUNTY OF COLLIN
CITY OF ALLEN, TEXAS,
GENERAL OBLIGATION BOND,
SERIES 1979
The CITY OF ALLEN, a municipal corporation of the State of
Texas, acknowledges itself indebted to and, FOR VALUE RECEIVED,
hereby promises to pay to bearer, the sum of
FIVE THOUSAND DOLLARS
($5,000), in lawful money of the United States of America, on the
FIRST DAY OF AUGUST, J. with interest thereon from the
date hereof to maturity at t e rate of
PER CENTUM ( %) per annum, payable on February 1, 1980, and
semiannually t ereafter on August 1 and February 1 in each year,
and interest falling due on or prior to maturity hereof is payable
only upon presentation and surrender of the' interest coupons
hereto attached as they severally become due.
BOTH PRINCIPAL OF AND INTEREST ON this bond are hereby made
'payable at the MERCANTILE NATIONAL BANK AT DALLAS, Dallas, Texas,
,,without exchange or collection charges to the owner or holder, and
!for the prompt payment of this bond and the interest thereon at
Iimaturity, the full faith, credit and resources of the City of
Allen, Texas, are hereby irrevocably pledged.
iI
{{� THIS BOND is one of a series of Four Hundred (400) serial
,bonds, numbered consecutively from One (1) through Four Hundred
1,(400), each in the denomination of Five Thousand Dollars ($5,000),
ilaggregating in principal amount TWO MILLION DOLLARS ($2,000,000),
;;issued for the purpose of making permanent public improvements and
! for public purposes, to wit: $940,000 for street improvements,
Ilincluding drainage incidental thereto, $170,000 for providing new