HomeMy WebLinkAboutOrdinance No. 94 � y , t.wM ► .�...
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AN ORDINANCE AUTHORIZING THE ISSUANCE OF �200,000 CITY
OF FRIENDSWOOD, TEXAS, SEWER IMPROVEMENT BONDS, SERIES
1g67; PRESCRIBING THE TERMS AND CONDITIONS THEREOF;
LEVYING TAXES TO PAY THE INTEREST THEREON AND PRINCIPAL
THEREOF; AWARDING THE SALE THEREOF; CONTAINING OTHER
PROVISIONS RELATING TO THE SUBJECT; AND PROVIDING THAT
THIS ORDINANCE SHALL TAKE EFFECT FROM AND AFTER ITS
FINAL PASSAGE
THE STATE OF TEXAS §
COUNTY OF GALVESTON §
The City Council of the City of Friendswood, Texas, convened in
regular session at the City Hall within said City on the 6th day of
M�rch, 1967, with the following members, and the City Secretary,
pr°esert, �omwit:
Ralph L, Lowe Mayor
Ma�vin Childers Alderman
Harry Hatcher Alderman
William E, Davidson Alderman
Ralph W, Somers Alderman
Wiley Murrell Alderman
Mrse Artha Wright City Secretary
and the following member( s) absent, to-wit: norle �
when, among other business, the following was transacted:
The Mayor introduced an ordinance authorizing the issuance of
�200, 000 City of Friendswood, Texas, Sewer Improvement Bonds,
b;,T c�ptioiz.
Series 1967, which ordinance was read i���'x�„� Alderman �hi?c?�rs
made a motion that the ordinance be passed on first reading,
Alderman ,��rj;��s seconded the motion. The motion, carrying
with it the passage of said ordinance on first reading, prevailed
by tne following vote :
AYES : Aldermen Childers, Hatcher, Davidson, Somers
and Murrell9 and Mayor Lowe ,
NOES: None .
The Mayor thereupon announced that the ordinance had duly and
lawfully passed on first reading.
The ordinance passed on first reading follows:
AI� ORDINANCE AUTHORIZING THE ISSUANCE OF �200, 000 CITY
OF FRIENDSWOOD, TEXAS, SEWER IMPROVEMENT BONDS, SERIES
1967; PRESCRIBING THE TERMS AND CONDITIONS THEREOF;
LEVYING TAXES TO PAY THE INTEREST THEREON AND PRINCIPAL
THEREOF; AWARDING THE SALE THEREOF; CONTAINING OTHER
PROVISIONS RELATING TO THE SUBJECT; AND PROVIDING THAT
THIS ORDINANCE SHALL TAKE EFFECT FROM AND AFTER ITS
FTNAL PASSAGE
THE STATE OF TEXAS §
COUNTY OF GALVESTON §
The City Council of the City of Friendswood, Texas, convened
in regular session at the City Hall within said City on the 20th day
of March, 1967, with the following members, and the City Secretary,
present, to-wit:
Ralph L. Lowe Mayor
Marvin Childers Alderman
Harry Hatcher Alderman
William E. Davidson Alderman
Ralph W, Somers Alderman
Wiley Murrell Alderman
Mrs . Artha Wright City Secretary
and the following member( s) absent, to-wit: T;�;�� �
when9 among other business, the following was transacted:
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There came on for second reading an ordinance authorizing
the issuance of �200, 000 City of Friendswood, Tex.as, Sewer
Improvemerlt Bonds, Series 1967 ( passed on first reading by the
City Council at its regular meeting held March 6, 1967) which
b�� c<��;tior:
was read ���;����, Alderman G�hilders made a motion that the
ordinance be passed on second reading without amendment . Alderman
D�.vic�:,�}�: seconded the motion. The motion, carrying
with it the passage of said ordinance on second reading, without
amendment, prevailed by the following vote:
AYESo Aldermen Childers, Hatcher, Davidson, Somers
and Murrell, and Mayor Lowe ,
NOES: None ,
The Mayor thereupon announced that the ordinance had duly and
lawfully passed on second reading. The ordinance thus passed on
second reading follows:
AN ORDTNANCE AUTHORIZING THE ISSUANCE OF �200,000 CITY
OF FRIENDSWOOD, TEXAS, SEWER IMPROV EMENT BONDS, SERIES
1.967; PRESCRIBING THE T ERMS AND CONDITIONS THEREOF;
LEVYING TAXES TO PAY THE INTEREST THEREON AND PRINCIPAL
THEREOF; AWARDING THE SALE 'I'I�EREOF; CONTAINING OTHER
PROVISIONS RELATING TO THE SUBJECT; AND PROVIDING THAT
THIS ORDINANCE SHALL TAKE EFFECT FROM AND AFTER ITS
FINAL PASSAGE
THE STATE OF TEXAS §
COUNTY OF GALVESTON §
The City Council of the City of Friendswood, Texas, convened
in regular session at the City Hall within said City on the 3rd day
of April, 1967, with the following members, and the City Secretary,
presen.t, to-�wit .
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Ralph Le Lowe Mayor
Marvin Childers Alderman
Harry Hatcher Alderman
William E. Davidson Alderman
Ralph W, Somers Alderman
Wiley Murrell Alderman
Mrs , Artha W right City Secretary
and the following member( s) absent, to-wit: _ �.nne �
when, among other business, the following was transacted:
There came on for consideration f or third and f inal reading
an ordinance authorizing �200,000 City of Friendswood, Texas,
Sewer Improvement Bonds, Series 1967 ( passed on first reading by
tf�e City Council at its regular meeting on March 6, 1967, and
passed on second reading at its regular meeting on March 20, �.967)
which was read in f ull, Alderman S�m�rG made a motion that
the ordinance be passed on third and final reading without amendment,
Alderman p;:�;rr�;_� seconded the motion. The motion, carrying
with it the passage of said ordinance on third and final reading,
without amendment, prevailed by the following vote:
AYESo Aldermen Childers, Hatcher, Davidson, Somers
and Murrell, and Mayor Lowe ,
NOES: None ,
The Mayor thereupon announced that the ordinanee had duly and
finally passed, The ordinance thus finally passed follows:
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AN ORDINANCE AUTHORIZING THE ISSUAN�E OF �200,000 �ITY
OF FRIENDSWOOD, TEXAS, SEWER IMPROVEMENT BONDS, SERIES
1967; PRESCRIBING THE TERMS AND CONDITIONS THEREOF;
LEVYING TAXES TO PAY THE INTEREST THEREON AND PRINCIPAL
THEREOF; AWARDING THE SALE THEREOF; CONTAINING OTHER
PROVISIONS RELATING TO THE SUBJECT; AND PROVIDING THAT
THIS ORDINANCE SHALL TAKE EFFECT FROM AND AFTER ITS
FINAL PASSAGE
WHEREAS, at an election held in and throughout the City of
Friendswood, Tex.as, on the 28th day of January, 1967, more than a
majority of the duly qualified resident electors of said City who
owned taxable property within said City and who had duly rendered
the same for tax,ation, voting in said election, voted in f avor of
issuing �200,000 bonds for the purpose of constructing improvements,
additions and extensions to the City � s sanitary sewer system, said
bonds to be payable fr�om ad valorem tax.ation and to mature serially
over a period not exceeding forty ( �0) years f rom their date or
dates and to bear interest at a rate or rates not to exceed five
per cent ( 5/) per annum; and
WHEREAS, said election was called and held under and in strict
conformity with the Constitution and laws of the State of Tex.as,
and the City Council of said City has heretofore officially declared
the results of said election and has determined and declared the
specific authority of said City to issue said bonds; and
WHEREAS, the City Council has determined that it is advisable
�o proceed with the authorization, issuance, and sale of said
�200,000 bonds mentioned above; Therefore
BE IT ORDAZNEI7 BY THE CITY COUNCIL OF THE CITY OF FRIENDSWOOD:
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Section l:
NAME, AMOUNT, PURPOSE AND AUTHORIZATIONo That the serial coupon
bonds of the City of Friendswood, Texas, to be known and designated
as "CITY OF FRIENDSWOOD, TEXAS, SEWER IMPROVEMENT BONDS, SERIES
Zg67", be issued in the principal amount of �200,000 for the
purpose o�' constructing improvements, additions and extensions to
the City ' s sanitary sewer system, under and by virtue of the
Constitution and laws of the State of Texas, including particularly
Chapters 1 and '7 of Title 22, Revised Civil Statutes of Tex.as, 1g25,
as amended, and as authorized at the election held in and throughout
said City on the 28th day of January, 1g67,
Section 2 :
2,01 - DATE, BOND NUMBERS, DENOMINATION AND MATURITIES: That said
bonds shall be dated March 1, Zg67, shall be numbered consecutively
from 1 to �+0, both inclusive, shall be in the denomination of $5, 000
each, aggregating �200, 000, and shall become due and payable
serially in their numerical order, on March 1 in each of the years
1971 to ig88, both inclusive, in the respective amounts shown in
the following sch.edule, to-wit:
Bond Numbers Year of Amount
( both incl, ) Maturity Maturing
1 1971 � 5, 000
2 1972 5, 000
3 1973 5, 000
�- 197�+ 5,o00
5 - 6 �-975 lo, o00
7 - 8 1976 l0, 000
9 - 10 1977 lo,o00
11 - 12 1978 10,000
13 - �� 1979 10,000
15 - 1.6 1980 lo,o00
i7 - 19 1g81 15, 000
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( Continued)
Bond Numbers Year of Amount
( both incl. ) Maturity Maturing
20 - 22 1g82 �15, 000
23 - 25 1983 15, 000
26 - 28 1g8� 15,000
29 - 31 1985 15,000
32 - 3�+ 1g86 15, o00
35 � 37 1g87 15,000
38 - 40 1g88 15,000
2 ,02 - OPTION OF PRIOR REDEMPTION: The City expressly reserves
the right to redeem Bonds Nos . 23 to �0, both inclusive, of this
issue ( being those bonds maturing in each of the years 1g83 to
1g88, both inclusive) , in whole or in part, on March l, Zg82, and
on any inte.rest payment date thereafter, by paying to the owners
or holders thereof a sum equal to the principal amount of the bonds
called for redemption plus unpaid accrued interest thereon to the
date fix.ed for redemption. If the City elects to redeem all or
any part of said bonds on any such redemption date, notice of the
ex.erc.ise of the option to redeem shall be given in writing to the
bank at which said bonds are payable, and said notice shall be
published one ( 1) �ime in a financial journal or publication of
general circulation in the United States of America, which notice
shall be mailed to said bank and published in said journal or
publication at least thirty (30) days prior to the date fixed for
rec{emption, 4Jhen said bonds, in whole or in part, have been
called for redemption in the manner prescribed and due provision
has been made to pay the principal of the bonds called for redemp-
tion and unpaid accrued interest thereon to the date fixed f or
redemption, the right of the owners or holders to collect interest
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• . ,.
which would otherwise accrue after the redemption date on the
bonds called for redemption shall terminate on the date fixed
for redemption,
Section 3 :
3001 - I�TTEREST RATES AND INTEREST PAYMENT DATES: That said bonds
shall bear interest from date until paid at the following rates
per anntim, respeetively, to-wit:
Bond Nos , 1 to �. , both inclusive, rz_J,
Bond Nos , ; to �F; , both inc lusive, � ,-�r� /, and
Bond Nos , ,, {� to 1,�, , both inclusive, l� , �?� f,
interest payable March 1, 1g68, and semi-annually thereafter on
September 1 and March 1 of each year until the principal sum is paid ,
3e02 �- MEDTUM AND PLACE OF PAYMENT: That both principal of and
interest on said bonds shall be payable, without ex,change or
collection charges to the owners or holders of said bonds and/or
the interest coupons appurtenant thereto, at the Citizens State Bank
of Dickinson, Dickinson, Texas, in any coin or currency of the
United States of America which, on the respective dates of payment
of such principal and interest, is legal tender for the payment of
debts due the United States of Americae The principal of such
bonds shall be payable only upon presentation and surrender of said
bonds as they respectively become due, and interest falling due on
and prior to the �espective maturity dates of the bonds shall be
payable only upon presentation and surrender of the interest coupons
attached to said bonds as such coupons severally become due ,
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Section �:
EXECUTION OF BONDS AND INTEREST COUPONS : That each of said bonds
shall be signed by the Mayor and countersigned by the City Secretary
of said City by their facsimile signatures, and the official seal
of said City shall be impressed, or placed in f acsimile, thereon,
The interest coupons attached to said bonds shall be executed by
the facsimile signatures of the Mayor and City Secretary , The
r�egistr�.tion cer�ificate of the Comptroller of Public Accounts of
the State of Texas, which certificate is to be printed on the back
of each of said bonds as provided hereafter in Section 7 of this
order9 shall be manually executed,
Section 5:
FORM OF BONDS : That said bonds shall be in substantially the follow-
ing formm
No, $5,000
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF GALVESTON
CITY OF FRIENDSWOOD, TEXAS,
SEWEl� IMPROVEMENT BOND,
SERIES 1967
FO�C VALUE RECEIVED, the City of Friendswood, in the County of
Galveston, in the State of Tex.as, hereby acknowledges itself indebted
�o and promises to pay to bearer on the First day of March, 19 ,
the sum of
FIVE THOUSAND DOLLARS
( $5,000) , and to pay in�erest thereon f rom the date hereof at the
rate �f / per annum ( NOTE TO PRINTERo For interest rates, see
Seetion 3e01 of bond ordinance) , interest payable March 1, 1968,
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and semi�annually thereafter on September 1 and March 1 of each
year until the p�incipal sum is paid. Both principal of and
interest on this bond shall be payable in any coin or currency
of the United States of America which on the respective dates of
payment of such principal and interest is legal tender for the
payment of debts due the United States of America, at the Citizens
State Bank of Dickinson, Dickinsor�, Texas, without exchange or
colleetion charges to the owner or holder, The principal hereof
shal.l be p�yable only upon presentation and surrender of this bond,
and inte�est h�reon falling due on and prior to the maturity of
this bond shall be payable only upon presentation and surrender of
the interest coupons hereto attached as such coupons severally
bec�me due ,
THE DATE OF THIS BOND, in conformity with the ordinance herein-
after mentioned, is March l, 19670
THIS BOND IS ONE OF A SERIES OF �0 SERIAL COUPON BONDS of like
ten.or and effect except as to serial number and maturity, being
n�ambered consecutively f rom 1 to �0, both inclusive, in the denomina-
�io� of $59000 each, aggregating �200, 000, and together with the
other bonds of said seri.es, is issued for the purpose of constructing
improvements, additions and extensions to the City ' s sanitary sewer
system unde� and in striet conformity with the Constitution and laws
of the State of Texas, including particularly Chapters 1 and 7 of
Title 22, Revised Civil Statutes of Tex,as, 1925, as amended, and by
authority of a vote of the duly qualified resident electors of
said City who own�d taxable property within said City and who had
dul� �endered the same for tax.ation at the election held within said
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City on the 28th day of �anuary, 1g67, and pursuant to an
ordinance duly passed and adopted by the �ity Council of said
Ci.ty, which ordinance is of record in the minutes of said City
Council,
THE CITY EXPRESSLY RESERVES THE RIGHT TO REDEEM BONDS NOS ,
23 to �0, both inclusive, of this issue, in whole or in part, on
March l, ig82, and on any interest payment date thereafter, by
paying to the owners or holders thereof a sum equal to the principal
amoun'c of the bonds called for redemption plus unpaid accrued
in��rest thereon to the date fixed for redemption, If the City elects
to redeem all or any part of said bonds on any such redemption date,
notice of the exercise of the option to redeem shall be given in
wr.iting to the bank at which said bonds are payable, and said
notice sha11 be published one ( 1) time in a financial journal or
publication of general circulation in the United States of America,
which noti.ce shall be mailed to said bank and published in said
journal or publication at least thirty ( 30) days prior to the date
fixed for redemptiono When sa,id bonds, in whole or in part, have
been called for redemption in the manner prescribed and due provision
i�as been. made to pay the principal of the bonds cal7ed for redemption
and unpaid accrued interest thereon to the date fixed for redemption,
the right of the owners or holders to collect interest which would
otherwise accr�ue aftEr the redemption date on the bonds called
fo� r�demption sh�ll terminate on the date fixed for redemption,
IT IS HEREBY CERTIFIED� RECITED, AND DECLARED tha'c the issuance
of this bond9 �nd the series of which it is a part, is duly
authorized by law; tha'c all acts, conditions, and things required
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to be done precedent to and in the issuance of this bond and this
series of bonds have been properly done and performed, and have
happened in regular and due time, form and manner as required by
law; that due provision has been made for the payment of the
p�incipal of and inte.rest on this bond, and the series of which it
is a part, by the levy of a direct annual ad valorem tax upon all
taxable property within said City sufficient for said purposes; and
that the total indebtedness of said City, including the entire series
of bonds of which this is one, does not exceed any Constitutional
o� statutory limitation,
�N TESTIMONY WHER.EOF, the City Council of the City of Friendswood,
Texas, has caused the facsimile of the official seal of said City
�o be impressed o� placed in f acsimile hereon, this bond to be
signed by the Mayor and countersigned by the City Secretary by
their� f aesimile signatures, and the annexed coupons also to be
signed by said f acsimile signatures of the Mayor and City Secretary,
all as of the lst day of March, 1967.
�%�C �
yor, Ci y of Friendswood, Texas
COUNTERSIGI�E"b�
' �
�.r��'`�iG --C ! c� �I`i
Ci'ry Secretary, City of
F�ier�dswood9 Texas
� SEAL)
Section 6:
FOR�� �G� INTERES'� COUPONS: That the interest coupon to be attached to
said bon.ds shall be in substantially the following form:
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No , �
ON THE FIRST DAY OF , 19 ,� the CITY OF
FRTENDSWOOD in the County of Galveston, State of Texas, PROMISES TO
PAY TO BEARER, without exchange or collection charges, at the Citizens
State Bank of Dickinson, Dickinson, Texas, the sum of � ,
iri any coin or currency of the United States of America which on
such date is legal tender f or the payment of debts due the United
States of America, being interest due that date on the City of
Friendswood, Texas, Sewer Improvement Bond, Series 1g67, bearing
the number hereinafter specified, dated March l, 1g67, Bond No,
'� o�i'
� � ayor, C' y of Friendswood, Texas
/ � � �
���=� : �i'J ,
, ,���� ��-"
City Secretary, City ,r�
Friendswood, Texas
(SEAL)
�( Cuupons maturing after March 1, 1982, shall
�:ontain the following additional clause :
unless the bond to which this coupon
appertains has been called for previous
redemption and due provision made to
redeem same, )
Section 7:
REGISTRATION OF BONDS BY STATE COMPTROLLER AND FORM OF REGISTRATION
CERTIFICATE: That each of said bonds shall be registered by the
Comptroller of Public Accounts of the State of Texas, as provided
by law, and the registration certificate of the said Comptroller,
which certificate is t� be printed upon the back of each of said
bonds and is to be manually executed, shall be in substantially
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the following form:
OFF�CE OF THE COMPTROLLER
REGISTER N0 ,
I"HE STATE OF TEXAS
T 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; that he finds that it has been issued in conformity, with
the Cor�stitution and laws of the State of Texas; and that it is a
valid and binding obligation upon the City of Friendswood, of
Gal�reston Cou�ty, Tex,as; and said bond has this day been registered
by me o
WITNESS MY HAND AND SEAL OF OFFICE at Austin, Texas,
Comptroller of Public Accounts
of the State of Texas
Section 8:
INTEREST AND SINKING FUND - TAX LEVY: That there is hereby created
a special f und to be designated "City of Friendswood, �exas, Sewer
Impr��rement Bonds, Series ig67, Interest and Sinking Fund", and all
taxes levied, assessed, and collected for and on account of the
bonds authorized by this order shall, as collected, be deposited
into said fund, That while said bonds or any part of the principal
thereof o� interest thereon remain outstanding and unpaid, there is
hereby leviecl and there shall be annually assessed and collected in
due time� f orm and manner and at the same time other City taxes are
as�essed, levied, and collected, in eaci� year, beginning with the
current; year, a continuing direct annual ad valorem tax upon all
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taxable property in said City sufficient to pay the current
interest thereon and to create a sinking fund of not less than two
per cent ( 2�) of the principal amount of said bonds, or of not
less than the amount required to pay the principal payable out of
said tax, whichever is greater, f ull allowance being made for
delinquencies and costs of collection, and said taxes when collected
shall be applied to the principal of and interest on said bonds and
for no other purpose ,
Section g:
APPROVAL AND REGISTRATION OF BONDS BY STATE OFFI�ERS: That it shall
be the duty of the Mayor �f said City, or someone acting under
authority of said Mayor, to submit the record of said bonds, and
the bonds, to the Attorney General of the State of Texas for examina-
tion and approval, and thereafter to have such bonds registered by
the Comptroller of Public Accounts of the State of Texas .
Section 10:
SALE OF BONDSo That the sale of said bonds to
i'.:is`rL"'� 'vJIidaTCT' 1`.�:J ti OPiPIir:", IP,;'
at a price equal to the principal amount of such bonds, plus accrued
i.nterest there�n f rom the date of the bonds to the date of actual
delivery, plus a cash premium of� LLF;�` , subject to the
unqualified approving opinion, as to the legality of said bonds,
of the Attorney Gene.r�al of the State of Texas and Vinson, Elkins,
Weems R� Searl.s, Houston9 Texas, market attorneys, is hereby
authorized9 approved9 ratified and confirmed , When said bonds have
been app�oved by the said Attorney General and registered by the
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Comptroller of Public Accounts of the State of Texas, they shall
be delivered to the named purchaser upon receipt of the full
purchase price .
Section 11:
DUTIES OF CITY OFFICIALS: That the Mayor and the City Secretary
of said City and other appropriate officials of the City are
hereby authorized and directed to do any and al1 things necessary
and/or convenient to carry out the provisions of this ordinance ,
Section 12:
EFFECTNE DATE OF ORDIN.ANCE: That this ordinance shall take
effect and be in full force upon and after its adoption, and it
is so ordered.
PASSED AND APPROVED on first reading the 6th day of March, 1967.
PASSED AND APPROVED on second reading the 20th day of March,
1967.
PASSED AND APPROVED on third and final reading the 3rd day
of April, 1967.
,�� �,
�� - 2�
Mayor, ity of Friendswood, Texas
;
�/�-,��. -f �. 2�� ;C;7
City Secretary, City of
F riendswood, Texas
(SEAL)
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