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HomeMy WebLinkAbout1980-07-30 Special Called Meeting~ f C MINUTES - SPECIAL CALLED MEETING OF THE LA PORTE CITY COMMISSION - LA PORTE, TEXAS JULY 30, 1980 1. Meeting called to order by Mayor Meza at 7:30 P.M. Mayor Meza stated at this time if anyone was present who wished to submit a bid for the General Obligation and Refunding Bonds, Series 1980 please come forward. No one came forward, Mayor Meza stated the time for receiving bids is closed. MEMBERS OF THE CITY COMMISSION PRESENT: Mayor J.J. Meza, Commissioner John Tomerlin, Commissioner I.J. Kibodeaux, Commissioner Virginia Cline, Commissioner Tom Simons, Com- missioner Norman Malone. MEMBERS OF THE CITY COMMISSION ABSENT: None. OTHER CITY OFFICIALS PRESENT: James R. Hudgens, City Adminis- trator; Betty T. Waters, City Clerk; Knox Askins, City Attorney; Jerry Hodge, Public Works Director; H.F. Freeman, Police Chief; Stan Sherwood, Parks and Recreation; Joe Sease, Fire Chief; Paul Hickenbottam, Fire Marshal; David Paulissen, Code Enforcement; John Joerns. OTHERS PRESENT: David Fetzer and Gloria Robertti of Moroney, Beisner & Company; Dick Richards of Baker and Botts; Dave Corbin of Bush, Hutchinson Engineers; Patti Mikowski of the Bayshore Sun, Vonica Robeltson, 527 South Shady Lane; Norma Hutchins, 10503 North P Street; Delbert Walker, 11438 North P Street; John Courville of Bayshore National Bank. 2. David Fetzer opened and read the bids submitted for the $3,850, 000.00 in Bonds as foll ows: First National Bank of Dallas: Maturities Cou ons Interest Cost 1981 thru 1984 9.3750 GIC 3,137,593.80 1985 thru 9.25% Prem 163.00 1986 thru 1993 7.38% NIC 3,137,930.80 1994 thru 1996 thru 1999 7.60% 8 % EIR 7.8240% . Underwood Neuhouse & Company: Maturities Coupons Interest Cost 19 thru 1982 7.80% GIC 3,104,675 Special Called Ming - 7/30180 • page 2 • 1983 thru 1984 7.50% Prem None 1995 thru 7.3./4% NIC 3,104,675 1996 thru 1997 8.% EIR 7,74233% 1998 thru 8.20% 1999 thru 7% Rolls Winston Division of Cowen & Company: Maturities Coupons Inte rest Cost 1981 thru 1986 9% GIC 3,113,062.50 1987 thru 1988 7.3/4% Prem None 1989 thru 1992 ?% NIC 3,113,062.50 1993 thru 7.30% EIR 7,7632% 1994 thru 1995 7.5% 1996 thru 1999 8% 1ST City National Bank of Houston: Maturities Cou ons Interest Cost 1981 thru 1984 8.5° GIC 3,091,875 1985 thru 1988 7.5% Prem None 1989 thru 1993 7% NIC 3,091,875 1994 thru 1995 7.5% EIR 7.7104% 1996 thru 1997 8% 1998 thru 1999 8.25% Bids were tabula ted by Da vid Fetzer to ascertain if bids had been tobulated c orrectly and papers in order. Dick Richards read THE ORDINANCE AUTHORIZING THE ISSUANCE, SALE AND DELIVERY OF THE CTTY'S $3,850,000.00 GENERAL OBLIGATION AND REFUNDING BONDS, SERIES 1980, PROVTDING THE DETAILS RELATING THERETO AND DECLARING THAT SATD ORDINANCE SHALL BE EFFECTIVE IMMEDIATELY UPON TTS ADOPTION. David Fetzer announced his calculation showed the bids were all in order and he recommended the bid from FIRST CITY NATIONAL BANK OF HOUSTON be accepted. A motion was made by Commissioner Cline to accept the bid sub- mitted by First City National Bank of Houston and adopt Ordinance No. 1222 as read by Mr. Richards. The motion was seconded by Commissioner Simons. Motion carried 4-ayes and 0-nays. AYES: Commissioners Tomerlin, Kibodeaux, Cline and Simons. NAYS: None 3. The contract extending water and sewer service from the City of Deer Park to serve the Lomax area was presented for the City Commissions consideration. After lengthy discussion by the Commission, a motion was made by Commissioner Kibodeaux author- izing the Mayor to sign the contract extending the La Porte (Lomax)-Deer Park water and sewer agreement to January 1, 1981 Special Called Me~ing - 7/30/80 ~ page 3 • and setting Lomax area served by the Deer Park system water and sewer rates the same as the rates charged by the City of Deer Park to their customers for the months of August and Sept- ember of 1980. The Lomax area rates will be the same as the rest of the City of La Porte as of October 1980. The motion was seconded by Commissioner Cline. Motion carried 4-ayes and 0-nays. AYES: Commissioners Tomerlin, Kibodeaux, Cline and Simons. NAYS: None 4. The contractor's statement for $1,375.00 for clearing the Cade property on Oak Grove as directed by the Mayor in a May meet- ing of the City Commission. Motion was made by Commissioner Tomerlin to pay the $1,375.00 from the General Fund Contingency. The motion was seconded by Commissioner Kibodeaux and the motion carried 4-ayes and 0-nays. AYES: Commissioners Tomerlin, Kibodeaux, Cline and Simons. NAYS: None 5. There were no Administrative reports however City Administrate for Hudgens called the Commissions attention to several memos • at their places from the City staff. 6. Motion was made by Commissioner Tomerlin to adjourn into an executive session to discuss personnel, seconded by Commission er Kibodeaux, motion carried 4-ayes and 0--nays. AYES: Commissioners Tomerlin, Kibodeaux, Cline and Simons. NAYS: None Commission and City Administrator Hudgens went into Commission Chambers for a closed executive session on personnel at 8:15 P.M. Mayor Meza reconvened the meeting at the Council table at 9:25 P.M. Motion by Commissioner Tomerlin to adjourn, seconded by Commis- sinner Kibodeaux. The motion carried 4~ayes and Ornays. AYES: Commissioners Tomerlin, Kibodeaux, Cline and Simons. NAYS: None There being no futher business to discuss the meeting was duly adjourned at 9:27 P.M. L' Special Called Ming - 7/30/80 • page 4 • Respectfully submitted: Betty T. Waters City Clerk Passed and Approved this the 6th day of August 1980 J.J. Meza, Mayor • • • s~~~~/~pp6f~~~~jj .~o~.~~j ~" .f'000.7iuf~G7J- "c+d~~a.~ ~~ZoQd 5~~~.on~ /~ J'70.f6 7/•~~60-900 " July 9, 1980 ADDENDUM TO OFFICIAL STATEMENT $3, 850, 000 CITY OF LA PORTE, TEXAS (Harris County) GENERAL OBLIGATION AND REFUNDING BONDS, SERIES 1980 • Selling: July 16, 1980 7:30 p. m. , CDST RATINGS: The following ratings have been assigned: MOODY'S INVESTORS SERVICE, INC. --------"A" STANDARD & POOR'S CORPORATION-------".A+t, ...~olLa~kilhed~ /9/9 • Honorable Mayor and City Council City of La Porte La Porte, Texas Gentlemen: • OFFICIAL BID FORM This bid is submitted under the terms and conditions of your "Official Notice of Sale" dated July 2,1980, of $3, 850, 000 City of La Porte, Texas, General Obligation and Refunding Bonds, Series 1980, terms sad condi- tions of which "Official Notice of Sale" are made a part hereof. For your legally issued $3, 850, 000 of Bonds, as described in said "Official Notice of Sale," we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $ -0- for bonds bearing interest as follows: Bonds Maturing 1981 through 1984 19 8t~rough 19__88 1989through 19 93 1994through 19 95 1996through 19 97 1998through 19 99 Interest cost, in accordance with the above bid, is: Gross Interest Cost Less Premium NET INTEREST COST 8.50 ~ 7.50 ~O 7.00 qy 7.50 ~ 8.00 ~ 8.25 % 3,091,875.00 0- 3,091,875.00 EFFECTIVE INTEREST RATE 7.7104 ~ Attached hereto or submitted separately is Bank Certified or Bank Cashier's Check of the City National nk Austi n , in the amount of $7,000 which represents our Good Faith Deposit and which is submitted in accordance with the terms as set forth in the "Official Notice of Sale." We request that bonds be delivered at the City National Bank, Auatia, Texas (X) The Capital National Bank, Austin, Terms ( ). Check preference. We have read in detail the "Official Notice of Sale" and the "Official Statement" and we have made such in- vestigations as we deem necessary relating to the City and to the investment quality of These Bonds. Respectfully Submitted, First City National Bank of Houston, Jt. Mir. E. F. Hutton P~ Company Inc. Jt. Mir. A7-lied_Bank of Texas. Jt. Mir. B aniel Gon alez, nvestment Officer ACCEPTANCE CLAUSE e a ve and f ing 'd i$ hereby in all things accepted by the City of La Porte, Texas, this the day of 1980. ATTE ~~~ ~~ Secretary Mayor, City of La Por , Texaa (See Boad Years on Reverse Side) • ~ • ACCUMULATED BOND YEARS 850 000 3 , $ , CITY OF LA PORTE, TEXAS GENERAL OBLIGATION AND REFUNDING BONDS, SERIES 1980 Bonda Dated: August 1, 1980 Maturity: February 1 Year of Amount Accumulated Maturi of Bonds Bond Years 1981 $ 175,000 87.50 1982 1?5, 000 - • ~ ~ 350.00 1983 175,000 787.50 1984 -• -- • 175,000 1,400.00 • 1985 175,000 2,187.50 1986 175,000 3,150.00 1987 175,000 4,287.50 1988 175,000 5,600.00 • 1989 175,000 7,087.50 1990 -- - - - 175, 000 8, 750.00 _ 1991 175,000 10,587.50 1992 175,000 12,600.00 1993 175,000 14,787.50 1994 250,000 18,162.50 1995 250,000 21,787.50 1996 250,000 25,662.50 1997 275,000 30,200.00 1998 275,000 35,012.50 1999 275,000 40,100.00 Average Maturity - 10.42 Years • OFFICIAL BID FORM ~' Honorable Mayor and City Council City of La Porte La Porte, Texas Gentlemen: This bid is submitted under the terms and conditions of your "Official Notice of Sale" dated July 2,1980, of $3, 850, 000 City of La Porte, Texas, General Obligation and Refunding Bonds, Series 1980, terms and condi- tions of which "Official Notice of Sale" are made a part hereof. For your legally issued $3, 850, 000 of Bonds, as described in said "Official Notice of Sale," we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $ ~-- p for bonds bearing interest as follows: Bonds Maturing 1981 through 198.2 7.80 ~ 19~through 199 19~att3~_ 19~ through 199`T 19,~tl~ex~9_ 19~ ~. 5a ~ 7S ~ 8 ~ 8.av ~ 7 ~ Interest cost, in accordance with the above bid, is: Grose Interest Cost ~~~ ~'.~, t-~o Less Premium --- o NET INTEREST COST ~D , !ri 7S. c~ EFFECTIVE INTEREST RATE ,~ 7~.~.33 °6 ~~~~$~~~fiubmitted separately is Bank Certified or Bank Cashier's Check of the City National Banker A» Gt i n ~ T,r , in the amount of $77,000 which represents our Good Faith Deposit and which is submitted in accordance with the terms as set forth in the "Official Notice of Sale." We request that bonds be delivered at the City National Bank, Austin, Texas~x) The Capital National Bank, Austin, Texas ( ). Check preference. We have read in detail the "Official Notice of Sale" and the "Officlal Statement" and we have made such in- vestigations as we deem necessary relating to the City and to the investment quality of These Bonds. Respectfully Submitted, Underwood, Neuhaus & Co., Inc. (SEE ATTACHED i.iSm 1•nR A~~nrrnTT ACCEPTANCE CL usE Walter Schleyer The above and foregoing bid is hereby in all things accepted by the City of La Porte, Texas, this the day of 1980. • ATTEST: Secretary Mayor, City of La Porte, Texas (See Bond Years on Reverse Side) • ACCUMULATED BOND YEARS $3,850,000 CITY OF LA PORTE, TEXAS GENERAL OBLIGATION AND REFUNDING BONDS, SERIES 1980 Bonda Dated: August 1, 1980 Maturity: February 1 w Year of Amount Accumulated Maturity of Bonds Bond Years 1981 S 175,000 87.50 1982 175,000 -~ - °-350.00 1983 175,000 787.50 1984 ------•:- •-:175,000 1,400.00 1985 ~ 175,000 2,187.50 1986 175,000 3,150.00 1987 175,000 4,287.50 1988 - 175,000 5,600.00 1989 175,000 7,087.50 1990 - - - 175,000 8,750.00 1991 175,000 10,587.50 - 1992 175,000 12,600.00 1993 175,000 14,787.50 1994 250,000 18,162.50 1995 250,000 21,787.50 1996 250,000 25,662.50 1997 ~. 275,000 30,200.00 1998 275,000 35,012.50 1999 275,000 40,100.00 Average Maturity - 10.42 Years r~ J • $3,850,000-City of La Porte General Obligation and Refunding Bonds Underwood, Neuhaus & Co., Inc. ---Jt. Mgr. Cullen Center Bank & Trust---Jt. Mgr. Fort Worth National Bank Rotan Mosle, Inc. IN ASSOCIATION WITH: Capital National Bank Money Center--Mgr. Blyth Eastman Paine Webber Shearson Loeb Rhoades y • OFFICIAL BID FOAM Honorable Mayor and City Council City of La Porte La Porte, Texas Gentlemen: This bid is submitted under the terms and conditions of your "Official Notice of Sale" dated July 2,1980, of $3, 850, 000 City of La Porte, Texas, General Obligation and Refunding Bonds, Series 1980, terms and condi- tions of which "Official Notice of Sale" are made a part hereof. For your legally issued $3, 850, 000 of Bonds, as described in said "Official Notice of Sale," we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $ •-- o - for bonds bearing interest as follows: Bonds Maturing 1981 through 19~ 9 ~ 188~through 19c~8 7. / ~ 96 19~through 19 q2 ~ 96 r~ 19~through 19 ~S~ SO ;$ 7 19~ through 19~ p CS 9b Interest cost, is accordance with the above bid, is: Gross Interest Cost ~^~ . S Leas Premium ~ '- o .. NET INTEREST COST 3; d~o~. so / 3 ~ EFFECTIVE INTEREST RATE r ~ ~ / ~ ,3 2.. ~ Attached hereto or submitted separately is Bank Certified or Bank Cashier's Check of the City National Bank of Austin . Texas , in the amount of $77,000 which represents our Good Faith Deposit and which is submitted in accordance with the terms ae set forth in the "Official Notice of Sale." We request that bonds be delivered at the City National Bank, Austin, Texas ~~ The Capital National Bank, Austin, Texas ( ). Check preference. We have read in detail the "Official Notice of Sale" and the "Official Statement" and we have made such in- vestigations as we deem necessary relating to the City and to the investment quality of These Bonds. ROWLES, WINSTON DIV. COWEN & CO-Jt.Mgr Re~In Associiat~ion With* rewrr-& Sons FRED BAKER & ASSOCIATES INC. - Jt. Mgr nk of Chicago First Na i nal k f F t W t Turner Inc. B ACCEPTANCE CLAUSE Charles L. Wood The above and foregoing bid is hereby in all things accepted by the City of La Porte, Texas, this the day of , 1980. ATTEST: Secretary Mayor, City of La Porte, Texas (See Bond Years on Aeverse Side) • ACCUMULATED BOND YEARS $3,850,000 CITY OF LA PORTE, TEXAS GENERAL OBLIGATION AND REFUNDING BONDS, SERIES 1980 Bonds Dated: August 1, 1980 Year of Amount Maturity of Bonds 1981 S 175,000 1982 -" -- -- -1?5, 000 1983 175,000 1984 - - 175,000 1985 - 175,000 1986 175,000 1987 175,000 1988 175,000 1989 175,000 1990 175,000 1991. 175,000 1992 175,000 1993 175,000 1994 250,000 .1995 250,000 1996 250,000 .1997 275,000 ` 1998 275,000 1999 ~ , 275,000 n Maturity: February 1 Accumulated Bond Years 87. b0 _ _-. 350.00 787.50 1,400.00 2,187.50 3,150.00 4,287.50 5,600.00 7,087.50 8,750.00 10,587.50. 12,600.00 14,787.50 18,162.50 21,787.50 25,662.50 30,200.00 35,012.50 .. . 40,100.00 _ _~„ Average Maturity - 10.42 Yeara r: • OFFICIAL BID FORM Honorable Mayor and City Council City of La Porte La Porte, Texas Gentlemen: This bid is submitted under the terms and conditions of your "Official Notice of Sale" dated July 2,1980, of $3, 850, 000 City of La Porte, Texas, General Obligation and Refunding Bonds, Series 1980, terms and condi- tions of which "Official Notice of Sale" are made a part hereof. For your legally issued $3, 850, 000 of Bonds, as described in said "Official Notice of Sale," we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $ 163.00 for bonds bearing interest as follows: Bonds Maturing 1981 through 1984 19~through 19_ 1986through 1993 1994through 19_ 1995through 19_ 19~6through 19~ Interest coat, in accordance with the above bid, is: Gross Interest Cost Leas Premium NET INTEREST COST EFFECTIVE INTEREST RATE 7.8240 ~ Attached hereto or submitted separately is Bank Certified or Bank Cashier's Check of the FIRST NATIpNAT. AAN_K T_N nAT.T.AS , in the amount of $77,000 which represents our Good Faith Deposit and which is aubmitte in accordance with the terms as set forth in the "Official Notice of Sale." We request that bonds be delivered at the City National Bank, Austin, Texas (~ The Capital National Bank, Austin, Texas ( ). Check preference. We have read in detail the "Official Notice of Sale" and the "Official Statement" and we have made such in- veatigationa as we deem necessary relating to the City and to the investment quality of These Bonds. Respectfully Submitted, FIRST NATIONAT. BANK IN DAT_.T.AS iderrill-Lynch-6iThite Weld Capital T~iarkets Groun Winton A. c son, J~~ V.P. ACCEPTANCE CLAUSE The above and foregoing bid i8 hereby in all things accepted by the City a Porte, Texas, this the day of 1980. • ATTEST: Secretary Mayor, City of La Porte, Texas (See Bond Years on Reverse Side) 9.375 % 9_2Sn ~'o 7.375 ~ 7.600 % 7.800 96 8.000 % 3,137,593.80 163_.00 3,137,430.80 ACCUMULATED BOND YEARS $3,850,000 CITY OF LA PORTE, TEXAS GENERAL OBLIGATION AND REFUNDING BONDS, SERIES 1980 Bonds Dated: August 1, 1980 Maturity: February 1 Year of Maturi 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 , 1996 1997 1998 1999 Amount of Bonds ~ 175,000 175,000 175,000 175,000 175,000 175,000 175,000 175, 000 175,000 175,000 175,000 175,000 175,000 250,000 250,000 250,000 275,000 275,000 275,000 Accumulated Bond Years 87.50 350.00 787. so 1,400.00 2,187.50 3,150.00 4,287.50 5,600.00 7,087.50 8,750.00 10,587.50 12,600.00 14,787.50 18,162.50 21,787.50 25,662.50 30,200.00 35,012.50 40,100.00 Average Maturity - 10.42 Years L_J ~J • _~~~l~'Lb~2P/I/ ~EC~/ZP/Yi CX. ~6.~ / 92G. /, I JH nu.~a~~~nanee' July 31, 1980 Honorable J. J. Meza, Mayor City of La Porte P. O. Box 1115 La Porte, Texas 77571 Dear Mayor: C~ .~~1~65~~..0~~~ ~P000 Jiuf.~~a~~ar~ ~/Z"aad Sfon, /~,ae.770S6 7l~~60-900 Enclosed are the bids submitted on the City's $3, 850, 000 General Obligation and Refunding Bonds, Series 1980, along with a tabulation on these bids. A copy of the tabulation is being sent to our dealer mailing list, which includes approximately 250 bond houses over the United States. We just talked to Daniel Gonzalez, Investment Officer at First City National Bank, and find that all of the La Porte Bonds were sold by mid-afternoon, reflecting broad acceptance by the investment community of the City's Bonds. Within the next few days, we will prepare for the City a Principal and Interest Pay- ment Schedule and will send a copy to Jim Hudgens and to the paying agent banks, Bayshore National Bank and First City Bank. We will also prepare the Budgetex Bond Register and Coupon Sheets on this issue and have it in your hands prior to its need. Please call us if there is anything that we can do for you. Yours very truly, loria Roberti / Assistant Vice President GR/cmn Encl. ~O.i~2G~u~d vn 1919 ~ _C~CJ6'~'~~C~~'ZPIli UG ~d ~ ~92G. ~~.~~c~~ca~~/ina•~zc~_~1~d~xda~ Ratings: Moody's - "A" Bond Buyer Index: TABULATION OF BIDS received July 30, 1980 .7ui~~~IJpp6S ~idl..~a.~~o~~~ .8000.7su1/~~idl.~a.~ ~%T.oa.~ S~/auelan, ~/ ~c~cad 7~O.f6 11.T~60-J900 on $3,850,000 8.59% CITY OF LA PORTE, TEXAS (Harris County) GENERAL OBLIGATION AND REFUNDING BONDS, SERIES 1980 Bidder 1. First City National Bank of Houston, Jt. Mgr. E.F. Hutton & Co. , Jt. Mgr. Allied Bank of Texas, • Jt. Mgr. 2, Underwood, Neuhaus & Co., Inc. , Jt. Mgr. Cullen Center Bank and Trust, Jt. Mgr. Fort Worth Nat'l Bank Rotan Mosle, Inc. Republic Nat'l Bank of Dallas In Association With: Capital Nat'l Bank Money Center, Mgr. Blyth Eastman Paine Webber Shearson Loeb Rhoades 3. Rowles, Winston Div. Cowen & Co. , Jt. Mgr. In Association With: Fred Baker & Assoc. , Inc. , Jt. Mgr. First Nat'l Bank of Fort Worth 4. First Nat'l Bank in Dallas Merrill-Lynch-White Weld Capital Markets Group • A. G. Becker, Inc. Maturities 1981-1984 1985-1988 1989-1993 1994-1995 1996-1997 1998-1999 1981-1992 1993-1994 1995 1996-1997 1998 1999 1981-1986 1987-1988 1989-1992 1993 1994-1995 1996-1999 1981-1984 1985 1986-1993 1994 1995 1996-1999 Coupons 8.50% 7.50% 7.00% 7.50% 8.00% 8.25% 7.80% 7.50% 7.75% -8.00% 8.20% 7.00% 9.00% 7.75% 7.00% 7.30% 7.50% 8.00% 9.375% 9.250% 7.375% 7.600% 7.800 8.000°, Interest Cost GIC $3,091,875.00 Prem --0-- NIC $3,091,875.00 GIC $3,104, 675.00 Prem --0-- NIC $3,104,675.00 GIC $3,113,062.50 Prem --0-- NIC $3,113, 062.50 GIC $3,137, 593.80 Prem 163.00 NIC $3,137,430.80 Net Effective Rate 7.7104% 7.74233% 7.7632 7.8240 Moroney, Beissner & Co. , Inc. Financial Advisors City of La Porte 7/31/80 Jolla~u~i.,z /9/9 • A ORDINANCE NO . f ~ „2~ ORDINANCE AUTHORIZING THE ISSUANCE, SALE AND DELIVERY OF THE CITY'S $3,850,000 GENERAL OBLIGATION AND REFUNDING BONDS, SERIES 1980, PROVIDING THE DETAILS RELATING THERETO AND DECLARING THAT SAID ORDINANCE SHALL BE EFFECTIVE IMMEDIATELY UPON ITS ADOPTION WHEREAS, pursuant to an election duly called and held in the City of La Porte, Texas, on February 24, 1979, the City Commission of said City was authorized to issue General Obligation Bonds of said City in the aggregate prin- cipal amount of $3,250,000 for various purposes including. those named below; and WHEREAS, the City Commission of said City has L previously authorized and caused to be issued and sold a first installment of said bonds for the purposes and in the amounts, respectively, as follows: $1,250,000 for improve- ments to the City's Waterworks System (the wr~,ole amount authorized for that purpose); and $150,000 (out of $2,000,000 authorized) for improvements to the City's Sanitary Sewer System; and WHEREAS, the City Commission has determined that it is necessary to issue a second and final installment of said bonds in the amount of $1,850,000 for improvements to the City's Sanitary Sewer System; and WHEREAS, the City of Lomax, Texas, has duly authorized, i~~~aed and delivered its General Obligation Bonds, Series 1980, dated March 1, 1980, in the aggregate principal amount of $2,000,000, which have become the valid and binding obligation of the City of La Porte, by virtue of the consolidation of said City of Lomax into the City of La Porte; and WHEREAS, said Lomax bonds may be redeemed at any time upon thirty (30) days' notice, and the City Commission has determined and hereby determines to redeem such bonds in order to achieve a substantial savings in interest expense; and • • L` WHEREAS, the City Commission desires to proceed with the authorization, issuance and sale of said bonds; therefore, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LA PORTE: Section 1: That the coupon bonds of the City of La Porte, Texas (hereinafter called the "New Bonds"), to be known and designated as "CITY OF LA PORTE, TEXAS, GENERAL OBLIGATION AND REFUNDING BONDS, SERIES 1980," are hereby authorized to be issued in the principal amount of $3,850,000 for the following purposes, to-wit: (a) $1.,850,000 for the construction of improvements to the City's Sanitary Sewer System (being the second and final installment out of $2,000,000 authorized for such purpose), and (b) $2,000,000 for refunding all of the City of Lomax, Texas, General Obligation Bonds, Series 1980, dated March 1, 1980 (herein- after called the "Lomax Bonds"), under and by virtue of the Constitution and laws of the State of Texas, and as respec- tively authorized at the bond election held in said City on the 24th day of February, 1979, and by Art. 717k, V.A.T-.C.S., as amended. Section 2: That the New Bonds shall be dated August 1, 1980, shall be numbered consecutively from 1 through 770, shall be in the denomination of $5,000 each, and shall mature and become-due and payable serially on • February 1 in each of the years and in the amounts specified in the following schedule: Year Amount Year Amount 1981 $175,000 1990 $175,000 1982 175,000 1991 175,000 1983- 175,000 1992 175,000 1984 175,OiiG 1993 175,000 1985 175,000 1994 250,000 1986 .175,000 1995 250,000 1987 175,000 1996 250,000 1988 175,000 1997 275,000 1989 175,000 1998 275,000 1999 275,000 Provided, however, that the City reserves the right to redeem, in whole or in part, all of the New Bonds -2- • • • maturing in the years 1991 through 1999 on February 1, 1990, or any interest payment date thereafter by paying the princi- pal thereof and accrued interest thereon. If less than all of the New Bonds then outstanding are called for redemption, then such bonds shall be called in inverse numerical order. Notice of such redemption shall be given in writing~to Bayshore National Bank, La Porte, Texas, at least thirty (30) days prior to the date fixed for redemption and written notice shall also be given by publishing a copy of said notice in a financial publication of general circulation in the United States one (1) time at least thirty (30) days prior to the date fixed for redemption. Any bond or bonds • called for redemption, due provision for the payment of which having been timely made, shall cease to bear interest from and after the date fixed for redemption. Section 3: That the New Bonds shall bear interest • U per annum from their date until maturity, unless called . sooner for prior redemption in accordance with the provi- sions hereof, at the following rates: All bonds scheduled to the years 1981 through All bonds scheduled to the years ~g~ through All bonds scheduled to the years 1989 through All bonds scheduled to the years 1994 through All bonds scheduled to the years 1996 through All bonds scheduled to the years 1998 through mature during 1984 mature during 1988 mature during 1993 mature d::ring 1995 mature during 1997 mature during 1999 8.50 7.50 7.00 7.50 8.00 8.25 with said interest to be evidenced by interest coupons payable on February 1, 1981, and semiannually thereafter on each August 1 and February 1, until the principal sum is paid in full. Section 4: That the principal of and interest on the New Bonds shall be payable to bearer, in lawful money of the United States of America, without exchange or collection -3- • • char es to the bearer, u on g p presentation and surrender of proper bond or interest coupon, as the case may be, at Bayshore National Bank, La Porte, Texas, or, at the option of the holder, at First City Bank of La Porte, La Porte, Texas, which banks shall be the paying agents for said bonds. Section 5: That each of the New Bonds and interest coupons shall be signed by the imprinted or lithographed facsimile signature of the Mayor and countersigned by the imprinted or lithographed facsimile signature of the City Clerk, and the official seal of said City shall be impressed, or imprinted or lithographed on each of said bonds. Such- +~ facsimile signatures on such bonds and interest coupons and said facsimile seal on said bonds shall have the same effect as if the Mayor and City Clerk had in person and manually signed each such bond and interest coupon-and as if the official seal of said City had been manually impressed upon each such bond. Section 6: That the form of the New Bonds, including the form of Registration Certificate of the Comptroller of Public Accounts of the State of Texas to be printed and en- dorsed on each bond, and the form of 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, TEXAS GENERAL OBLIGATION AND REFUNDING BOND SER?FS 1980 On February 1, the City of La Porte, in the County of Harris, State of Texas, for value received, hereby promises to pay to bearer the principal amount of • FIVE THOUSAND DOLLARS and to pay interest thereon, from the date hereof, at the rate of % per annum, evidenced by interest coupons pay- able February 1, 1981, and semiannually thereafter on -4- • • August 1 and February 1 of each year 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 ex- change or collection charges to the bearer, upon presenta- tion and surrender of this bond or proper interest coupon at Bayshore National Bank, La Porte, Texas, or, at the option of the holder, at First City Bank of La Porte, La Porte, Texas, which banks shall be the paying agents for this series of bonds. PROVIDED, HOWEVER, that said City reserves the right to redeem, in whole or in part, all bonds of said series maturing in the years 1991 through 1999 on February 1, 1990, or on any interest payment date thereafter by paying the principal thereof and accrued interest thereon. If less than all of said bonds then outstanding are called for redemption, then the bonds shall be called in inverse numeri- cal order. Notice of such redemption shall be given in writing to Bayshore National Bank, La Porte, Texas, at least thirty (30) days prior to the date fixed for redemption and written notice shall also be given by publishing a copy of said notice in a financial publication of general circulation in the United States one (1) time at least thirty (30) days • prior to the date fixed for redemption. Any bond or bonds called for redemption, due provision for the payment of which having been timely made, shall cease to bear interest from and after the date fixed for redemption. THIS BOND IS ONE OF A SERIES OF COUPON BONDS dated August 1, 1980, issued in the principal amount of $3,850,000, and together with the other bonds of said series, is issued for the following purposes, to-wit: (a) $1,850,000 for the construction of improvements to the City's Sanitary Sewer System (being the second and final installment out of $2,000,000 authorized for such purpose) and (b) $2,000,000 for refunding the City of Lomax, Texas, General Obligation Bonds, Series 1980, dated March 1, 1980, in the aggregate principal amount of $2,000,000, all under and in strict conformity with the Constitution and laws of the State of Texas, particularly Chapters 1 and 7 of Title 22, Revised Civil Statutes of Texas, 1925, as amended, and by authority of a bond election held within the City of La Porte on February 24, 1979, and pursuant to an ordinance lawfully adopted by the City Commis- sion of said City, which ordinance is of record in the official minutes of said City Commission. IT IS HEREBY CERTIFIED, RECITED AND REPRESENTED that the issuance of this bond, and the series of which it is a part, is duly authorized by law; that all acts, con- ditions and things necessary to be done precedent to and in the issuance of this bond and this series of bonds, in order to render the same legal, valid and binding obligations of said City, have been done, have happened, and have been per- formed in regular and due time, form and manner, as required by law; that due provision has been made for the payment of the principal of and interest on this bond, and the series of which it is a part, by the levy of a. direct annual d valorem tax upon all taxable property within said City suf- ficient 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 or statutory limitation. IN WITNESS WHEREOF, this bond and the interest coupons attached hereto have been signed by the imprinted or lithographed facsimile signature of the Mayor of said City -5- • and countersigned by the imprinted or litho ra hed facsimile g P signature of the City Clerk, and the official seal of said City has been duly impressed, or printed, or lithographed on this bond, all as of the 1st day of August, 1980. Mayor, City of La Porte, Texas COUNTERSIGNED: City Clerk, City of La Porte, Texas (FORM OF REGISTRATION CERTIFICATE) COMPTROLLER'S REGISTRATION CERTIFICATE: Register Number I hereby certify that this bond has been examined, • certified as to vat~.dity, 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 (FORM OF INTEREST COUPON) No. On 19 ,* unless the bond to which this coupon is attached shall have been called for prior redemption as therein provided and due provision has been made for the redemption thereof,* the City of La Porte, in the County of Harris, State of Texas, promises to pay to bearer, the above specified sum 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 Bayshore National Bank, La Porte, Texas, or, at the option of the holder, at First City Bank of La Porte, La Porte, Texas, said amount being interest due that day on the bond, bearing the number hereinafter desig- nated, of that issue of the City of La Porte, Texas, General Obligation and Refunding Bonds, Series 1980, dated August 1, 1980. Bond No. Mayor City Clerk * The phrase between the asterisks will be deleted on all interest coupons attached to bonds maturing on or prior to February 1, 1990. -6- Section 7: That there is hereby created a special fund to be called "CITY OF LA PORTE, TEXAS, GENERAL OBLIGA- TION AND REFUNDING BONDS, SERIES 1980, INTEREST AND SINKING FUND," and all taxes levied, assessed, and collected for or on account of the New Bonds authorized by this ordinance shall, as collected, be deposited into said fund. That while the New Bonds or any part of the principal or the interest thereon remain outstanding and unpaid, there is hereby levied and there shall be annually assessed and collected in due time, form and manner and at the same time other City taxes are assessed, levied and collected, in each year beginning with the current year, a continuing direct annual ad valorem tax upon all taxable property in said City of La Porte, Texas,~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 then outstanding or of not less than the amount required to pay the principal payable out of said tax whichever is greater, full 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 8: That the Mayor is hereby authorized and directed to submit, or cause to be submitted, the record of the New Bonds, and such bonds, to the Attorney General of the State of Texas for examination and approval and there- after cause said bonds to be registered by the Comptroller of Public Accounts of the State of Texas. Upon said regis- tration of the New Bonds, said Comptroller of Public Accounts (or a deputy designated in writing to act for said Comptroller) shall 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. -7- • Section 9: That the City hereby covenants with the purchasers and any subsequent holders of the New Bonds that the City will not make any use of the proceeds of said bonds which will cause said bonds to be or become arbitrage bonds within the meaning of Section 103(c) of the Internal Revenue Code of 1954, as amended, or any regulations promul- gated thereunder, and that the City will otherwise comply with the pertinent provisions of said Section 103(c) and regulations in order that said bonds will not be or became arbitrage bonds thereunder. Section 10: That public advertisement for the • sale of the New Bonds having been made and bids to purchase said bonds having i~een received pursuant thereto, it is hereby found and declared that the bid submitted by First City National Bank of Houston is the best bid received; and that the sale of the New Bonds to the named best bidder, at a price equal to the principal amount of such bonds plus accrued interest thereon from the date thereof to the date of actual delivery, plus a cash premium of $ subject to the unqualified approving opinion, as to the legality of said bonds, of the Attorney General of the State of Texas and Baker & Botts, Houston, Texas, market attorneys, is hereby authorized,. ratified, approved and confirmed. When the New Bonds have been approved by the said Attorney General and registered by the Comptroller of Public Accounts of the State of Texas, they shall be delivered to the purchaser upon receipt of the full purchase price. The Mayor, City Clerk and other appropriate officers of the City are autho- rized and directed to perform all acts necessary and/or convenient to carry out the terms of this ordinance. Section 11: That the City hereby exercises its right to redeem all of the Lomax Bonds at the price of par and accrued interest thereon to the date fixed for redemp- tion, and, subject to the remaining provisions of this -8- • Section 11, the Cit Clerk is hereb authorized and directed Y Y to give written notice of redemption to Bayshore National Bank, La Porte, Texas, the bank where the Lomax Bonds are payable, at least thirty (30) days prior to September 15, 1980, the date fixed for redemption, and to cause a copy of such notice to be published in the Texas Bond Reporter, which is hereby found and determined to be a recognized financial journal published in Texas, at least thirty (30) days prior to the date fixed for redemption; provided, however, the Mayor, City Clerk, and other officials of the City are hereby authorized to enter into an agreement with the holder or holders of all of the Lomax Bonds providing • for the redemption of the Lomax Bonds at such earlier date and on such other terms and conditions as they deem appro- priate. Section 12: That prior to or concurrently with the sale and delivery of the New Bonds, the City shall cause to be deposited to the State Treasurer of the State of Texas the sum of $2,000,000, plus the amount of interest which will accrue thereon calculated to the date fixed for redemp- tion or the agreed date of redemption, as the case may be, of the Lomax Bonds, and concurrently with such deposit shall pay or cause to be paid to the State Treasurer for his services and to reimburse him for his expenses a sum of money calculated in accordance with the provisions of Article 717k, V.A.T.C.S., as amended, and an additional amount of money sufficient to pay the charges of Bayshore National Bank, La Porte, Texas, as paying agent for the Lomax Bonds. The Mayor and City Clerk and other appropriate officers of • the City are hereby further authorized and directed to do any and all things necessary and/or convenient to effectuate the redemption of the Lomax Bonds and otherwise to carry out the spirit and intent of this Ordinance. -9- • Section 13: That this ordinance shall take effect and be in full force immediately upon and after its adoption. PASSED AND APPROVED on July 30, 1980. . ~^ Mayor, City of La Po te, Texas ATTEST:. ..,, C~ ~ ~ e ty of La Porte, Texas ~ ,,,,, ,, ~ , ~~ r ;[SEAL] ~. '% ~~ ~ ~ „ ~~~ ~~~~~1~ ~~ ~ ~ ~ ~~ ~ ~ ~ . APPROVED: 1~~~~~C City Attorney • -10- P. B. DOVER JR. ATTORNEY AT LAW P. O. BOX 87 DEER PARK. TEXAS 77536 PHONE 479-5253 AREA CODE 713 July 18, 1980 Mr. Knox Askins City Attorney City of La Porte P. O. BOX 1218 La Porte, Texas 77571 Dear Knox: As per our previous telephone conversation I enclose herewith an agreement extending the terms of the Lomax water contract up to January 1, 1981. If this contract meets with your approval would you please have same executed by your Mayor and City Secretary and return one copy to this office. - Very,. my s , P. 'B. Dover, Jr.~ PBD/kw Enc. • l ~~ THE STATE OF TEXAS § COUNTY OF HARRIS § C WHEREAS, on July 11, 1972 the City of Deer Park, Texas entered into a contract with the City of Lomax, Texas for the construction of a 12 inch water line and a 6 inch force main sewer line and for the City of Deer Park to sell. and deliver to the City of Lomax sewer and water service; and WHEREAS, in accordance with the terms of that contract the City of Deer Park, Texas did on January 23, 1979 elect to terminate the contract and did terminate the contract by giving written notice to the City of Lomax that- szzc,•3r~ervrc~ would be ~e~rminated effective July 30, 1980; and WHEREAS, thereafter the City of Lomax, Texas did legally consolidate with the City of La Porte, Texas and the City of Lomax ceased to function as a governmental entity; and WHEREAS, the City of La Porte, Texas is constructing capital improvements to furnish water and sewer service to the area which was formerly known as the City of Loma., Texas and requests that the City of Deer Park continue furnishing services until said capital improvements are completed. NOW, THEREFORE, in consideration of the mutual covenants and considerations herein specified between the City of La Porte, Texas and the City of Deer Park, Texas, it is agreed as follows: I. The City of Deer Park, Texas will furnish water and sewer to the area formerly known as the City of Lomax, Texas until January 1, 1981 all in accordance with the terms and conditions as set out in the original contract with the City of Lomax dated July 11, 1972. II. The City of La Porte, Texas agrees to abide by all the terms and conditions of the former contract dated July 11, 1972 and agrees to pay • the City of Deer Park on the same terms and conditions as set out in said contract. • r ,--~ ~, Dated this the ,~ day of -~1~~ 1980. :; ~ITY F DEER PARK, TEXAS Mayor ATTEST: City Secretary APPROVED: E City Attorney ATTEST: City Secretary APPROVED: C~(/~ torney r CITY OF LA PORTE, TEXAS .Mayor <_ ~. ..~. / /~2 ~ i~ TK:: ~TAT~ OF T~{AS COUNTY OF I~?RI:+ l ~:. TtiI3 CONTRACT i ; by and between the CZTY 0£~ DEFR PARK, TSXA~, a c-,uniciQal corporation, hereinafter called °ael t~::r", and the CITY OF LOMAX, T%XAS, also a municipal corporatism, :~ereinaPtec called "buyer", eae in consideration of the premises snd of the advanta,res accruing; to it, a;reeS as follows: 1. tlithin a reasonable tine after receipt by Seller in cash f:osrc Bu;jer of one-f iftll (1/~th} of the cast of constructing; and c;gaip?ing a 12" water line and a v" force-main sewer line from pallor's axfsttn,~t~r -8zr~~ewer fac~l.fiti~s, respectively, at "L" ~trti:at and Luella Avenue, to Seller's boundary at the inter- ~ection of "Lf' Street and Underwood Road, yeller will construct such lines. 2. Bu;~er agrees, at its own cost and expense, to construct its own water and sanitary sewer systems, which shall begin at it3 connection with Seller's said systems at "L" Street and Underwood Road. 3. Seller agrees to sei3 and deliver to Buyer at the connac-- tion with Buyer's slater line, and Buyer arees to purchase and tape at such point, water from Se13er's 12" main. 4. At such point of connection at "L" Street and Underwood Road, Seller will accept delivery of Buyer's sanitary sewage, not including indu3trial waste, up to the capacity of such line. ~. Buyer will take such steps as may be necessary to prevent any back-flow of water from, Buyer's systarz into Seller's system. i. Ssller will maintain and operate Buyer's water and sanitary systeMS in accordance with the current rules and regulations of the Texas Department of Health and of the Texas Mater ~?uality Board. 7. .Buyer shall bear alI cx?enses of connections aatween Buyer's and Seller's lines and of installation and riair~tenance of alI reasurinxs, cut-off valves, by-passes and other equipment required by such connections. :such measuring equipment shall be installed at ~ r or near the division 11ne between Buyer and :yeller, and shall have capacity to measure the quantity delivered within a 2j~ tolerance. Thc~ meter shall be read at resular monthly intervals, and both par- ties shall have access to the meters daily, if desired. If a r..eter does not function properly*, tha quantity delivered ah8I1 be estim~sted by the :seller on the basis of the best data available, after L,icin~; notice of intentions to make a test and an opportunit~;~ to be z~rescnt to the other party. ~3. All construction and repair aP water and sewer Sines within the corporate limits of Buyer shall be in strict accordance vuith the requirements established by ordinances of the Seller, the Texas Br- partnent of Health, and the Texas ~3ater ~~aality Board, and shall be • sub~eet to inspeeti~n by Seller's inspectors. Bu;a6r shall also adopt an ordinance regulating; industrial waste, ccntainln the sar:e teas and conditions a3 Seller's Ordinance No. 77u, adopted Januazry 12, lg'?1. 9. Huyer shall pay Seller for water finished through the`~afo~- said connection with Seller's line, the sar.~e rates per consumer pre- scribed by t1re current ordinance of Heller, and Buyer shall pay Se13- er for sanitary Sewer service at the same rates pzr consumer prescribed 'oy the current. ordinance or :Seller. Buyer shall be given at least 30 days notice of any inc:rea~e in rates. Psyzticnt fcr all charges shall be Made to Seller at its City Hall in the City of Deer Park, Texas, on or before the 20th deaf oi' the r:onth succeeding that in which the water was used and/or sanitary sewaE~e ~~as deliver- ed to Buyer at the point of connection. In the event. Buyer fails to tender paynent of an;~ amount, when due, interest at o~ per annum shall become due and if such failure continues for 4> days ., after notice in v~ritin~ t© ~3uyer of such default, Weller ma;~ sus- peY-itd delivery oi` wate~° and/or a~e~ptan~e cif sgnita_:y aewrai;a by the exercise of such ri~,ht;~th~.ch Shall be in addition to anJ other remed;~ available to Seiler. Bu;~er a~re~s to establish and ~rsintain .~ water and ssnitar•,~ n2wa~;Q rates sufficient to pay all of the afore- said charges and all other coats and expensev oi` operation and • r..sintenance of its cor~~bined water and sewer systems. -2- ~... `..y i~ 10. Seller does not atre4 to i'urnish B•a:~er, or any user ~rhornsoe~ver, with water servic4 or an;~ quantity or qualit;; of water whatsoever, except the sage quality furnished users from the same pipalind within :%el3er's boundaries, or to receive, dispose of, or attempt to dispose or any particular quantity or qualit;~ of sera:=,e~ except the same quality norznaily accepted from users within Sell- er's boundaries. 11. This Contract shall not take effect unless and until Buyer's voters authoriNe a Bond Issue, or Issues, to cover the cast cP construction of Boyar's orator and sanitary newer systems, and. its portion of Seller's sy3te;r~s, and until such Bends are approved, sold, and Seller's one-fifth (lfjth) of the ori~ainal cost is paid to it. -Jhen and if this Contract becomes ef'feetive, it shall continua until June 1, 1997, subject to terr~iination ~y either parts he~to upon twelve (I2) rconths prior notice in writing, and the other provisions :2ereof . 12. Buyer shall not perr.~3.t connection of either of its afore- said systems t6 any other water an or san3~ary sewer system, nor permit its sanitar^,~ sewer syatom to accept waste from any industrial process, nor shall it permit the sale of vlater from its system here- under for use in any industrial prowess, nor the sale of ~:ither service outside its corporate limits, without Seller's written con- sent ay duly enactQd ordinances. • 13. Seller shall rave tre right to perrr~it connection to those portions of said dater and 3e~wer lines within its city 13.mits. ll~. This contract :hall not be assignable, in whole or in part, by either party, without the prior written consent of the other. ?•~. ThQ failure of either party herete to irais t, in &n,3,f ono or more instances, ..upon performance of any of the terms, covenants or conditions oP this Contract, shall not be construed as a waiver or rralinquishrnent of the futu~ perfor~~enc@ of any sueh`~ term, cove- . Want or condition ':~~ the other party hereto, out the obligation of such other party with respect to such future performance shall con- tinue in full force and effect. -3- ~ ~ ~ C] IG. In the event either :yeller or Buyer is rendered unable, wholl t or in part, by force; ma~eure, to carry out any of its obli~,a- tions under this Contract, it is &~reed that on such part~~'s givin3 notice and i'u11 particulars of such force ma3eur~ in «ritinz; or by telegraph to thQ other party as soon as possible after the occurrence of the cause relied upon, then the ob11~-,ations of the party givin~~ such notice, to the ~axtent it is azi'ected b;~ force ra~eurs, shalX ire suspended during, the continuance of en;~ inability so caused, Such cause sha11 8s far as possible bs remedied Within a reasonable time. Tha terra "force r~~a~eure", as used hNrein, shall include, but not be lir:~ited to, actu of Cod, strikes, lockouts or other industrial dis- turbancea, acts of the public enemy, war, blocyades, insurz~ction3, • riots, epidemics, landslides, li,Y,htnin~, eartr.+quakes, fires, storms, floods, washouts, droughts, tornadoes, hurricanes, arrests and re- straints of governments and people, explosions, breakage or damage to machinery, pipelines or canals, and any other inabilities of either party, whether similar to those enumerated or otheralise, and not zrithin the eontro~. of the party clainins~ such inability, which b~, the exercise of due diligence and care such party could not have avoided. EaEC'UTFID It~t T~tTPLICATE O~GIAZnLS, this ~ ds;~ of ~c ' 172. aTTE T: - CITY OF DF.~ BARK, TEXAS ~ ) By • ~~ ~ /, • G f ' fc. ,ay0~ amity ~:ecretar,~ "sel3er" ~rr~~: czTY ©F Lomax, Trxa: /' . A n $~ t '~ ~,~? ~ (' ayor. Citi; :~vL•2 8z;a7 ' ~ . "Buyer" .. C~ _ ~z ~~ ,j ~ • G 7 ~/ / '~ 2u~`r't-`~ ~~~~ 'r r u~~