ORD CC 06/25/74 - Obligation Bonds•e
Ordinance 74 -12
AN ORDINANCE BY THE CITY COUNCIL OF THE CITY OF
HUNTSVILLE, TEXAS, AMENDING ORDINANCE NO. 74 -10,
HERETOFORE PASSED BY THE CITY COUNCIL OF THE CITY
OF HUNTSVILLE, TEXAS, AUTHORIZING THE ISSUANCE OF
A SERIES OF TWO "CITY OF HUNTSVILLE, TEXAS, EQUIP-
MENT ACQUISITION CERTIFICATES OF OBLIGATION ", DATED
MAY 15, 1974, IN THE AMOUNTS OF $15,854.00 AND
$9,360.00, RESPECTIVELY, PRESCRIBING THE FORM OF
CERTIFICATES AND THE FORM OF ENDORSEMENT TO APPEAR
THEREON AND CONTAINING THE OTHER PROVISIONS AS THERE-
IN SET FORTH, SUCH AMENDMENT TO BE TO SECTION 2 OF
SAID ORDINANCE BY CHANGING THE FORM OF THE CERTIFI-
CATE OF OBLIGATION IN THE AMOUNT OF $15,854.00 BY
DELETING FROM SUCH FORM THE REQUIREMENT OF AN EN-
DORSEMENT BY MOTOROLA COMMUNICATIONS AND ELECTRONICS,
INC. AND OTHERWISE CONFIRMING SAID ORDINANCE AS
ORIGINALLY PASSED.
WHEREAS, by Ordinance duly passed by the City Council
of the City of Huntsville, Texas, on May 28, 1974, No. 74 -10,
the City Council of said City authorized the issuance of certain
Certificates of Obligation for the acquisition of equipment for
the City of Huntsville, Texas, one of which Certificates in the
amount of $15,854.00 was for the purpose of acquiring miscellaneous
radio equipment purchased from Motorola Communications and Electronics,
Inc. through membership of the City of Huntsville, Texas, in the
Houston - Galveston Area Council, all as properly authorized by agree-
ment between member cities of the Houston - Galveston Area Council
and the City Council of the City of Huntsville, Texas, with said
Ordinance providing for endorsement by Motorola Communications and
Electronics, Inc. of said Certificate of Obligation upon receipt of
the funds represented thereby. Subsequent to the passage of said
Ordinance, it was determined that the Houston - Galveston Area Council
had paid the said sum of $15,854.00 in behalf of the City of Hunts-
ville direct to Motorola Communications and Electronics, Inc. and
that by virtue thereof, such Certificate of Deposit need not be de-
livered to Motorola Communications and Electronics, Inc., but should
in all things be issued direct to the purchaser of same in order
for the said City to acquire such funds to reimburse the Houston -
Galveston Area Council for the purchase of such miscellaneous radio
equipment, which action requires the amendment of Ordinance No. 74 -10
to eliminate the form endorsement of Motorola Communications and
Electronics, Inc.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF HUNTSVILLE, TEXAS, THAT ORDINANCE NO. 74 -10, HERETOFORE
PASSED BY THE SAID CITY COUNCIL OF THE CITY OF HUNTSVILLE, TEXAS,
AUTHORIZING THE ISSUANCE OF A SERIES OF TWO "CITY OF HUNTSVILLE,
TEXAS, EQUIPMENT ACQUISITION CERTIFICATES OF OBLIGATION ", PRESCRIB-
ING THE FORM THEREOF AND ENDORSEMENT THEREOF, AND CONTAINING THE
OTHER PROVISIONS AS THEREIN CONTAINED, IS HEREBY AMENDED IN
SECTION 2 THEREOF AS FOLLOWS:
Section 2: That said Certificates shall be dated May 15, 1974,
and shall mature and be payable in installments (Subject to the City's
option of prior payment), shall be in the denominations, and shall
bear interest as set forth in the following forms, to-wit:
Dated $15,854.00
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF WALKER
CITY OF HUNTSVILLE, TEXAS, EQUIPMENT ACQUISITION CERTIFICATE
OF OBLIGATION
The City of Huntsville, a municipal corporation of the State
of Texas, acknowledges itself indebted to and FOR VALUE RECEIVED hereby
promises to pay to bearer in installments as below indicated the total
sum of
FIFTEEN THOUSAND EIGHT HUNDRED AND FIFTY-FOUR DOLLARS
($15,854.00), in lawful money of the United States of America, with
interest thereon from date until paid at the rate of Six (6%) per cent
per annum, payable on May 15, 1975, and annually thereafter on May 15th
of each year.
BOTH PRINCIPAL AND INTEREST on this Certificate of Obligation
are hereby made payable at the First National Bank, Huntsville, Texas,
without exchange or collection charges to the owner or holder, the prin-
cipal to be paid upon presentation of this Certificate for principal pay-
ment endorsement, and the interest to be paid upon presentation hereof
for interest payment endorsement by said bank on the reverse side hereof.
The principal of this Certificate of Obligation is payable
in annual installments, as follows:
May 15, 1975 $5,284.66
May 15, 1976 $5,284.66
May 15, 1977 $5,284.68
THIS CERTIFICATE OF OBLIGATION represents one of a series
of two Certificates of Obligation of the issue authorized by the City
Council for the purpose of acquiring Miscellaneous Radio Equipment
for City use, all pursuant to notice of intention duly issued and pub-
lished in the time and manner prescribed by law and in accordance with
c;)
an Ordinance duly confirming the purchase of said equipment adopted
and passed by the City Council of the City of Huntsville on the
14th day of May, 1974, and duly recorded in the Minutes of said City
Council.
The City reserves the right to prepay all or any part of
this Certificate at any time prior to the due date or maturity thereof
without premium or penalty of any kind.
It is hereby certified and recited that all acts, conditions
and things required to be done precedent to and in the issuance of this
Certificate of Obligation, and of the series of which it is a part, to
render the same lawful and valid have been properly done, have happened
and have been performed in regular and due time, form and manner as re-
quired by law; that due and proper provision has been made for the levy
of a direct and continuing annual ad valorem tax against all taxable
property within the said City sufficient to pay the interest on this
Certificate of Obligation as due and to provide for the payment of each
installment of principal as same matures; that the City has received
full value and consideration for this Certificate of Obligation and
that the total indebtedness of the City of Huntsville, including this
Certificate of Obligation, does not exceed any constitutional or
statutory limitation.
IN TESTIMONY WHEREOF, the City Council has caused the seal
of said City to be impressed hereon and this Certificate of Obligation
to be signed by the Mayor and attested to by the City Secretary, the
date of this Certificate of Obligation being the day of
1974.
MORRIS I. WALLER, Mayor
ATTEST:
RUTH DeSHAW, City Secretary
(Form of Certificate of Delivery and Assignment to be typed on the
back of Certificate of Obligation)
FULL CONSIDERATION therefor being hereby acknowledged,
this Certificate of Obligation is initially delivered to
, the original holder, on
this date, to-wit: 1974.
Date
CITY OF HUNTSVILLE, TEXAS
BY
MORRIS I. WALLER, Mayor
BE IT FURTHER ORDAINED, that said Ordinance 74-10 is
amended only as provided above and the remainder of said Ordinance
including the remainder of Section 2 thereof as originally passed,
shall remain in full force and effect as originally passed.
BE IT FURTHER ORDAINED, that this amendatory Ordinance
shall become effective immediately upon passage.
1974.
PASSED BY UNANIMOUS VOTE on this the 25th day of June,
(711°PROVED AS TO ORM:
MARTIN D. COLLEY, City
Attorney
MORRIS I. WALLER, Mayor