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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)