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HomeMy WebLinkAboutO-1965-719 -. --:-'~~" .. ... ./. ~,. ~, .-- ',.:' . , .... }' ,~' w',., ..-~. ", "'';' ,. . e CERTIFICATE FOR BOND ORDINANC THE STATE OF TEXAS COUNTY OF HARRIS CITY OF LA PORTE We, the undersigned officers of said City, hereby,certify as follows: l. The City Commission of said City convened in MEETING ON THE DAY OF JULY, 1965, at the City Hall, and the roll was called of the duly constituted officers and members of said City Commission, to-wit: Mrs. Marilyn Kelley, City Clerk Frank G. Baker Tom W. Osburn Harold P. Pfeiffer, Russell Shepherd w. ~. ~taBB, Jro Mayor and all of ' said persons were present, except the following absentees: S 1-11 /, .s, thus constituting a quorum. Whereupon, among other business, the following was transacted at said Meeting: a written , ORDINANCE AUTHORIZING THE ISSUANCE OF BONDS was duly introduced for the consideration of said City Commission and read in full. It was then duly moved and seconded that said Ordinance be passed; and, after due discussion, said motion, carrying with .it the passage of said Ordinance, prevailed and carried by the following vote: AYES: All members of said City Commission shown present above voted "Aye." NOES: None. 2. That a true, full, and correct copy of the aforesaid Ordinance passed at the Meeting described in the above and fore-, going paragraph is ,attached to and follows this Certificate; that said Ordinance has been duly recorded in said City Commission's, minutes of said Meeting; that the above and foregoing paragraph is a true, full, and correct excerpt from said City Commission's minutes of said Meeting pertaining to the passage of said Ordi- nance; that the persons named in the above and foregoing para- graph are the duly chosen, qualified, and acting officers and members of said City Commission ,as indicated therein; and that each of the officers and members of said City Commission was duly and sufficiently notified officially and personally, in advance, of the time, place, and purpose of the aforesaid Meeting, and that said Ordinance would be introduced and considered for passage at said Meeting, and each of said officers and members consented, in advance, to the holding of said Meeting for such purpose. 3. That the Mayor of said City has approved, and hereby approves, the aforesaid Ordinance; that the Mayor and the City ,Clerk of said City have duly signed said Ordinance; and that the Mayor and the City Clerk of said City hereby declare that their signing of this Certificate shall constitute the signing of the attached and following copy of said Ordinance for all purposes. ~'~ SIGNED AND SEALED the day of July, 1965. "/ - -~ ' ~ ~~t;""[r~;-k) ~-#~,,~~- (SEA~S! ' , "'\ ..." ,~ ~ '\.\. . i' . ,;. e . '- ORDINANCE AUTHORIZING THE ISSUANCE OF CITY OF LA PORTE WATERWORKS AND SEWER SYSTEM REVENUE BONDS, SERIES 1965, IN THE AMOUNT OF $300,000 THE STATE OF TEXAS COUNTY OF HARRIS CITY OF LA PORTE' WHER~S, the bonds hereinafter authorized were duly and favorably voted, as required by the Constitution and laws of the State of Texas, at an election held in said City on the 27th day of April, 1965; and , WHEREAS, the bonds hereinafter, authorized are to be issued and delivered pursuant' to Vernon's Articles llll through ~ lll8. BE IT ORDAINED ;BY THE CITY COMMISSION OF THE CITY OF LA PORTE: Section l. That said City's coupon bonds to be designat- l ed the "City of La Porte Waterworks and Sewer System Revenue Bonds, ,Series' 1965," are hereby au~horized to be issued and delivered in accordance with the Constitution and laws of the State of Texas, in 'the principal amount of $300,000 for the pur- pose of providing $175,000 for improving and extending said City's Waterworks S~stem, and providing $125,000 for improving and . extending said City's Sewer System. Section 2. That said bonds shall be dated , 196 , shall be numbered consecutively from 1 through 60, shall be in the denomination of $5,000 each, and shall mature and become due and payable serially on March 15 in each of the years, and in the amounts, respectively, as set forth in the following schedule: . YEARS AMOUNTS YEARS AMOUNTS 1969 5,000 1979 10,000 1970 5,000 1980 25,000 1971 5,000 1981 25,000 1972 5,000 1982 '25,000 1973 5,000 1983 25,000 1974 5,000 1984 25,000 1975 5,000 1985 25,000 1976 lO,OOO 1986 '25,000 1977 lO,OOO 1987 25,000 1978 lO,OOO 1988 25,000 . ~ . . ;~ . . Section 3. That said bonds shall bear interest from their date until maturity, at the following rates: all bonds scheduled to mature during the years 1969 through 19~------------------- ~~O % per annum; all bonds scheduled to mature during the years 19~ through 19~ ---------------- ~.~o % per annum; all bonds scheduled to mature during the years 1981 through 19 ~3 ---------------- 3.to % per annum; all bonds scheduled to mature during the years 19~ through l~~ ---------------- ~.7~ % per annum; 19 , with said interest to be evidenced by interest coupons payable on September l5, 1965, and semi-annually thereafter on each March'l5 and September 15. Section 4. That the principal of and interest on said bonds shall be payable to bearer, in lawful money of the United States of America, without exchange or collection charges to the bearer, upon presentation and surrender of proper bond or int- erest coupon, at--the First City National Bank of Houston, Houston, Texas, which place shall be the paying agent for said bonds. Section 5. That each of said bonds and interest coupons shall be signed by the imprinted or lithographed facsimile signa- . ture of the Mayor of'said City and countersigned by the imprinted or lithographed fa~simile signature of the City Clerk of said City, and the official seal of said City shall be impressed, or .' printed, or lithographed on each of said bonds. Section 6. That the form of said bonds, including the form of Registration Certificate of the Comptroller of Public Accounts of the State of Texas to be printed and endorsed on each bond, and the form of the interest coupons to be attached to said bonds, shall be, respectively, ,substantially as follows: .: . .. . . (FORM OF BOND) , NO. $ 5,000 (UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF HARRIS ' CITY OF LA PORTE WATERWORKS AND SEWER SYSTEM REVENUE BOND SERIES 1965 On March 15, 19____, the City of La Porte, in the County of Harris, State of Texas, promises to pay to beaEer the' principal amount of FIVE THOUSAND DOLLARS and to pay interest thereon, from the date h~reof, at the rate of . % per annum, evidenced by interest coupons payable September 15, 1965, and semi-annually thereafter on each March l5 and September l5 while this bond is outstanding. The principal of this bond and the interest coupons attached hereto shall be payable to bearer, in lawful money of the United States of America, without exchange or collection charges to the bearer, upon presentation and surrender of this bond or proper int- erest coupon, at t~e First City National Bank of Houston, Houston, Texas, which place shall be the paying agent for this Series of bonds. . This bond is 'one of a Series of coupon bonds dated , 1965, issued in the principal amount of $300,000 for the purpose of providing $175,000 for improving and extending said City's Waterworks System, and providing $l25,000 for improv- ing and extending said Cityt's Sewer System. It is hereby certified and recited that this bond has been duly and validly voted, authorized, issued, 'and delivered in accordance with the Constitution and laws of the State of Texas; and that the interest on and principal of this bond, and 4IIr the Series of which it is a part, together with"other outstanding " .-- . e .. . . waterworks and sewer system revenue bonds of said City, are secured by and payable from a first lien on and pledge of the Net Revenues of said City',s Waterworks and Sewer System. Said City has reserved the right, subject to the restric~ tions stated, or adopted by reference, in the Ordinance authoriz- ing this Series of bonds, to issue additional parity revenue bonds which,also may be secured by and made payable from a first lien on and pledge of the Net Revenues of said City's Waterworks ,and Sewer System. The holder hereof shall never have the right to demand , J , , payment of this obligation out of any funds 'raised or to be raised by taxation. IN WI~ESS WHEREOF, this bond and the interest coupons attached heret~ have been signed by the imprinted or lithographed facsimile' signature of the Mayor of said City and countersigned by the imprinted or lithographed facsimile signature of the City Clerk of said City, and the official seal of said City has been duly impressed, or printed, or lithographed on this bond. City Clerk, City of La Porte Mayor, City of La Porte (FORM OF REGISTRATION CERTIFICATE) .J COMPTROLLER'S REGISTRATION CERTIFICATE: REGISTER NO. I hereby certify that this bond has been examined"certi- fied as to validity, and approved by the Attorney General of the State of Texas; and that this bond has been registered by the Comptroller of Public Accounts of the State of Texas. Witness my signature and seal this Comptroller of Public Accounts of the State of Texas - '.,. ... ~ .. . e (FORM OF INTEREST COUPON) NO. $ On , 19 , the City of La P~rte, in the County of Harris, State of Texas, promises to pay to bearer, the amount of Dollars, in lawful money of the United States of America, without exchange or collection charges to the bearer, upon presentation and surrender of this interest coupon, at the First City National Bank of Houston, Houston, _, Texas, said amount being interest due that day on the bond, bearing the number hereinafter designated, of that issue of City of La Porte Waterworks and Sewer System Revenue Bonds, Series 1965, dated , 1965. The holder hereof shall never have the ~ight to demand payment of this obligation out of any funds raised or.to be raised by taxation. Bond No. Mayor, City of La Porte City Clerk, City of La Porte Section 7. That the term 1I'0utstanding Bonds," as used. herein, shall mean the outstanding bonds of the following issue of said City: Waterworks and Sewer System Revenue Refunding Bonds, Series 1962, autho~ized by ordinance dated April 6, 1962. The Series 1965 Bonds authorized hereby are parity "Additional Bonds" as defined and permitted in the aforesaid Ordinance dated April 6, 1962, and Sections 8 through 13 of said ordinance are adopted by reference and shall be applicable to said Series 1965 Bonds for all purposes, except to the extent hereinafter speci- fica11y modified and supplemented. The Series 1965 Bonds and the Outstanding Bonds~ are and shall be secured by and payable from a first lien on and pledge of the Net Revenues of said City's Waterworks and Sewer System, and all of said obligations shall be on a parity and of equal dignity in all respects. ..~ t t. . .. .- - .. . e Section 8. That, in addition to all other amounts re- by the ordinance above mentioned, authorizing the Outstand- " 'ng Bonds, there shall be deposited into the Interest and Sinking nd, created for the benefit of said Outstanding Bonds and all dditional Bonds, the following: (l) On or,before the lOth day of each month beginning with August 10, 1965 and continu- ing through June, 1975, deposit $1,215 per month; -- (2) On or before July lO, 1975', and on or before the 10th day of each mo~th thereafter to and including the month of June, 1979, an amount which is not less than $l,675 per month; and (3) On or before July 10, 197~"and on or before the 10th day of each month thereafter, until all the Bonds have been finally paid, both as to principa~ and interest, an amount which is not less thap $2,500 per month. Section 9. The amount to be accumulated and maintained 'n the Reserve Fund shall be increased by an amount equal to ot less than the average a~nual principal and interest require- this issue of Additional Bonds, and the monthlY,deposits' Reserve Fund shall be increased by an amount equal to ne-sixtieth (1/60th) of the increased amount to be accumulated, nd such increased paymepts shall be made upon the passage of his Ordinance and on the, lOth day of each month thereafter; t is provided, however, the Reserve Fund shall not be required t 'any time to exceed the average annual requirement for the ayment of principal of and interest on the outstanding Bonds and dditiona1 Bonds. _ ..__S_ect:iqn lO,.. .That, in addition to all other amounts equired by the ordinance authorizing the, Outstanding Bonds, here shall be deposited into the Contingency Fund" created for ~ ...~I .~ .. ; -.,... , ' .- . - . e the benefit of said Outstanding Bonds and all Additional Bonds, on or before the 10th day of each mon~h hereafter, the sum of at least $200.00 until the aggregate amount of $50,000 shall have been accumulated in said Contingency Fund. ,Thereafter, said aggregate amount shall'be maintained therein, for the benefit of the Outstanding Bonds, the Series 1965, and all Additional Bonds, in accordance with the procedures, as herein modified and supple- mented, set forth in the ordinance authorizing the Outstanding Bonds. Section 11. That said bonds are and shall be special obligations of said City, 'and the holder or holders thereof shall never have the right to demand payment of said obligations out of any funds raised or to be raised by taxation. Section 12. That the Mayor of said City is hereby 'auth- orized to have control of said bonds and all necessary records and proceedings pertaining to said bonds pending their delivery and their investigation, examination, and approval by the Attorney General of the State of Texas, and their registration by the Comptroller of Public Accounts of the State of Texas. Upon registration of said bonds, said Comptroller of Public'Accounts (or a'deputy designated in writing to act for said Comptroller) ahall manually sign the Comptroller's Registration Certificate prescribed herein to be printed and endorsed on each bond, and the seal of said Comptroller shall be impressed, or printed, or lithographed on each of said bonds. Section l3. That said bonds are hereby sold and shall be delivered to, RIP U/ LG~ fr/1v,~ f'tJ A./ <ZL--~ . No b'S~' IV, 1,>)( ..s , " being the highest and best bidder, for the principal amount thereof and accrued interest to the date of delivery, plus a premium of $ 'r- (b o ~ -" .~ A ... ''11I , ;: ." . .-' .~. - e Section l4. 'That the probable period of usefulness for the public improvements to be made with the proceeds from the sale of said bonds will be many years, a determination of the ,exact number of years being impossible. July, 1965. ATTEST: '" ,PASSED AND AUTHENTICATED this the' day of /6 tYtf'~~ ' o~ " ......', ~': A.I'IJ~ -'~ \ ~ .Pd,};~ ,. . ~ -- ,',' ' City Clerk. ~ " ' c>-':: . ;.; ':> ,~ ... ",..,; " "\