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Memo to the Commission -4-
<br />b)
<br />c)
<br />' n'dh s
<br />January 9, 1984
<br />,.
<br />he~~'3'$"; ~ ~ ir, sewer~~nia'i~nsX~(~$543~;300);
<br />4. Direct the District to revise its bylaws regarding compensation of directors
<br />to be in accordance with Section 51.080 of the Texas Water Code and to seek
<br />reimbursement for any unauthorized payments that may have been made.
<br />IV. PRESENTATION OF DATA
<br />HISTORY
<br />College View Municipal Utility District of Harris County was created by the
<br />60th Legislature of the State of Texas, Chapter 635, effective date June 16, 1967,
<br />operating under the general laws of a water control and improvement district.
<br />Originally the District contained 333.24 acres; however, by order of the Board
<br />of Directors of the District dated January 2, 1968, there were added 144.10 acres,
<br />so that the District now contains 471.34 acres.
<br />A bond election was held on June 1, 1968, at which time the qualified voters of
<br />the District authorized the issuance of $4,500,000.
<br />The Commission approved the $1,150,000, 6 percent, first bond issue on October
<br />1, 1968. Proceeds from the sale of the first issue were to be used to construct a
<br />water well, water plant and water distribution lines, sanitary sewer lines, sewage
<br />treatment plant and sewage lift station, storm sewers, and drainage to serve Brookglen,
<br />Section I, containing 51 acres (182 residential lots and 9 acres of unrestricted
<br />reserves), and Brookglen, Section II, containing 61 acres of land (197 residential
<br />lots and 9 acres of unrestricted reserves).
<br />The District sold $800,000 bonds from the authorized first issue, leaving $350,000
<br />unsold bonds due to the low interest rate. This outstanding portion of the first issue
<br />was cancelled and reissued under the second bond issue.
<br />At an election held on November 22. 1969, the qualified voters in the District
<br />authorized the issuance of $3,950,000 bonds at the maximum rate of interest allowed
<br />by law.
<br />The Commission approved the $600,000 8-2 percent, second bond issue on September
<br />9, 1970, which was used to complete the improvement program under the first bond issue
<br />(;159,450), to provide underground utilities in Luella Boulevard from Spencer Highway
<br />to Fairmont Parkway ($151,085) and to pay accounts payable under current construction
<br />contracts ($72,110), for a total construction cost of $382,645.
<br />On January 2, 1973, the Commission approved the issuance of $1,500,000 in bonds.
<br />These bonds were not sold. The developer constructed the facilities included in that
<br />bond issue.
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