HomeMy WebLinkAboutResolution No. 02-68 •
RESOLUTION NO. 2-68
RESOLUTION CANVASSING RETURNS, AND
DECLARING RESULTS OF BOND ELECTION
THE STATE OF TEXAS )
COUNTY OF GALVESTON )
The City Council of the City of Friendswood, Texas , convened
in regular session, open to the public , at the regular meeting
place thereof within said City on the 25th day of March
1968, with the following members present , to-wit :
Ralph L. Lowe Mayor
Marvin L. Childers Alderman
Wiley W. Murrell Alderman
Ralph W. Somers Alderman
Thomas F. Woods Alderman
Edward F. Stuart Alderman
Mrs . Artha Wright City Secretary
and the following member(s ) absent , to-wit : NONE ,
when, among other business, the following was transacted :
The Mayor introduced a resolution which was read in full .
Alderman Somers made a motion that the resolution be
adopted as read. Alderman Woods seconded the motion
for adoption of the resolution. The motion, carrying with it the
adoption of the resolution, prevailed by the following vote :
AYES : Aldermen Childers , Murrell , Somers , Woods ,
Stuart and Mayor Lowe .
NOES : None .
The Mayor thereupon announced that the resolution had been
duly and lawfully adopted. The resolution thus adopted follows :
• -
RESOLUTION CANVASSING RETURNS, AND
DECLARING RESULTS OF BOND ELECTION
WHEREAS, there was held in the City of Friendswood, Texas ,
on the 23rd day of March, 1968 , an election at which was submitted
to the duly qualified resident electors of said City who own
taxable property within said City and who had duly rendered the
same for taxation, the following proposition, to-wit :
SHALL THE CITY COUNCIL OF THE CITY OF FRIENDSWOOD,
TEXAS, BE AUTHORIZED TO ISSUE THE REVENUE BONDS OF
SAID CITY IN THE AMOUNT OF $750, 000, MATURING
SERIALLY WITHIN THIRTY (30 ) YEARS FROM THEIR DATE
OR DATES, AND BEARING INTEREST AT A RATE NOT TO
EXCEED SIX PER CENT (6% ) PER ANNUM, FOR THE PURPOSE
OF PURCHASING, CONSTRUCTING, IMPROVING OR EXTEND-
ING A NATURAL GAS SYSTEM FOR SAID CITY; SAID BONDS
TO BE ISSUED IN ACCORDANCE WITH AND SECURED IN THE
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 IT MATURES BY PLEDGING THE NET
REVENUES FROM THE OPERATION OF SAID NATURAL GAS
SYSTEM; EACH BOND TO BE CONDITIONED THAT 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
WHEREAS, there were cast at said election P6 votes ,
of which number there were cast :
FOR THE ISSUANCE OF BONDS //J votes
AGAINST THE ISSUANCE OF BONDS d 43 votes
MAJORITY e THE
(Fo or Against )
ISSUANCE OF BONDS �` f� votes
as shown in the official election returns heretofore submitted to
said City Council and filed with the City Secretary of said City;
and
WHEREAS, said election was called and notice thereof was given
and said election was held under and in strict conformity with law;
Therefore ,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FRIENDSWOOD, TEXAS:
Section 1:
That the bond election held in and throughout the City of Friendswood,
Texas, on the 23rd day of March 1968, which election is more particularly
described in the preamble to this resolution, was duly called and notice thereof
given in accordance with law; that said election was held in the manner required
by law; that only duly qualified resident electors of said City who owned taxable
property within said City and who had duly rendered the same for taxation
voted at said election; that said election has resulted unfavorably to the issuance
of the bonds described in said proposition; and that more than a majority of
the qualified voters voting at said election have voted against the issuance of
the bonds described in said proposition.
Section 2:
That the City Council is not authorized to issue any of said bonds.
Section 3:
That this resolution shall be in full force and effect upon and after its
adoption.
PASSED AND APPROVED this 25th day of March , 1968.
Mayor, ity of Friendswood, Texas
ATTEST:
City Secretary, City of
Friendswood, Texas
(SEAL)