ORD CC 07/24/79 - Obligation BondsORDINANCE NO. 79-10
AN ORDINANCE BY THE CITY COUNCIL OF THE CITY OF HUNTSVILLE, TEXAS,
AUTHORIZING THE ISSUANCE OF A SERIES OF FIVE (5) "CITY OF HUNTSVILLE,
TEXAS, EQUIPMENT ACQUISITION CERTIFICATES OF OBLIGATION ", DATED
IN THE AMOUNTS OF $ 2,998.00, $ 10,167.00,
$ 31,081.00, $ 18,649.00 and $ 8,637.00 RESPECTIVELY, PRESCRIBING THE
FORM OF A CERTIFICATE AND THE FORM OF ENDORSEMENT TO APPEAR THEREON:
LEVYING A CONTINUING DIRECT ANNUAL AD VALOREM TAX ON ALL TAXABLE
PROPERTY WITHIN THE LIMITS OF THE SAID CITY TO PAY THE INTEREST THEREON
AND TO CREATE A SINKING FUND FOR REDEMPTION THEREOF, AND PROVIDING FOR
THE ASSESSMENT AND COLLECTION OF SUCH TAXES: AND ENACTING PROVISIONS
INCIDENT AND RELATING TO THE PURPOSE AND SUBJECT OF THIS ORDINANCE.
WHEREAS, heretofore on the day of 1979, the
City Council of the City of Huntsville, Texas, by Ordinance duly adopted
and entered of record officially ascertained, determined and confirmed
its prior determination that it is necessary and in the best interest
of the City and its inhabitants that the City acquire certain equipment
to be used in the connection with the City of Huntsville at a cost to
the City in the amount of accepted bids for each item of said equipment;
and,
WHEREAS, in said Ordinance the City Council found that all notices
required by law have been issued and all things requisite done in order
to adopt an ordinance authorizing the issuance of a series of five (5)
interest bearing certificates of obligations of the City, amounts not
to exceed $ 2,998.00, $ 10,167.00, $ 31,081.00, $ 18,649.00 and $ 8,637.00,
respectively, for such purposes upon terms approved by the City Council,
said Certificates are to bear interest'at a rate of interest not to exceed
6.26 %, 6.26 %, 6.45 %, 6.45 %, and 6.45% per annum and to mature not later
than , and
respectively, and to be issued upon the full faith and credit of the City
and payable from ad valorem taxes;
WHEREAS, official notice of the City Council's intentions afore-
mentioned was duly given and the notices requesting for the purchase of
such equipment and the publication thereof in the City's official news-
paper, The Huntsville Item, was made on and
the notice for intention to issue said Certi-
ficates of Obligation was likewise published in said paper on
and all of which publications were within the time
and manner as required by law; and,
WHEREAS, it appears to the City Council that all prerequisites
to the valid authorization of the intended Certificates of Obligation
for its stated purposes, has been accomplished in accordance with law,
including the Certificates of Obligation Act of 1971, and that this
Council may therefore proceed with the Ordinance authorizing the
issuance of said Certificates of Obligation;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF HUNTSVILLE, TEXAS:
Section 1. That a series of five (5) interest bearing Certificates
of Obligation of the City of Huntsville to be known and designated as
"City of Huntsville, Texas, Equipment Acquisition Certificate of Obligation"
in the principal sums of $ 2,998.00, $ 10,167.00, $ 31,081.00, $ 18,649.00
and $ 8,637.00, respectively, shall be, and the same are hereby, authorized
to be issued and the same are hereby issued, to-wit: the acquisition of
a dump truck body, 1979 Ford F615C chassis and cab, 5 mobile radios, 4
portable radios, repeater base station and 35 dash mounted mobile units
(25 watt Maxar) for the use by the City of Huntsville, and the Mayor and
City Secretary shall have joint control of such Certificates for the purpose
of delivering same to the owners in accordance with this Ordinance and they
shall see to the proper completion thereof in accordance herewith.
Section 2. That said Certificates shall be dated
and shall bear interest as hereinafter set forth, shall be registered as
hereinafter set forth, and shall each be in the following basic form,
to-wit:
Dated:
ISSUED:
Amount $ 2,998.00
Register No.
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, acknowledge itself indebted to and FOR VALUE RECEIVED hereby
promises to pay to the registered owner hereof in installments and on
the dates as below indicated the total sum of
TWO THOUSAND NINE HUNDRED NINETY EIGHT DOLLARS AND NO/100
($2,998.00), in lawful money of the United States of America, with
interest thereon from date of issue until paid at the rate of 6.26
per cent per annum, payable on and annually thereafter
on the day of of each and every year as here-
inafter provided until such aggregate sum is fully paid.
BOTH PRINCIPAL AND INTEREST on this Certificate of Obligation are
hereby made payable in Huntsville, Walker County, Texas, without ex-
change or collection charges to the registered owner hereof, with such
payments to be due on the dates and in the amounts as follows:
DATE
PRINCIPAL
$999.33
$999.33
$999.34
INTEREST
This Certificate of Obligation is one of a series of five (5) Certificates
of Obligation of the issue authorized by the City Council of the City of
Huntsville for the purpose of acquiring equipment, and in accordance with
an Ordinance duly confirming the purchase of such equipment adopted and
passed by the City Council of the City of Huntsville on the day of
, 1979, and duly recorded in the minutes of the
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 with-
out premium or penalty of any kind.
It is hereby certified and recited that all acts, conditions and
thing 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
required 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
1979.
ATTEST:
RUTH DeSHAW, CITY SECRETARY
0 RIS 1. WAL E , MAO
FULL CONSIDERATION therefor being hereby acknowledged, this
Certificate of Obligation was delivered to
the original holder, on this date, to-wit:
and by it hereby transferred and assigned to
Dated:
Amount $ 10,167.00
Register No.
ISSUED: 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, acknowledge§ itself indebted to and FOR VALUE RECEIVED hereby
promises to pay to the registered owner hereof in installments and on
the dates as below indicated the total sum of
TEN THOUSAND ONE HUNDRED SIXTY SEVEN DOLLARS AND NO/100
($10,167.00), in lawful money of the United States of America, with
interest thereon from date of issue until paid at the rate of 6.26 per cent
per annum, payable on and annually thereafter on the
day of of each and every year as hereinafter provided until
such aggregate sum is fully paid.
BOTH PRINCIPAL AND INTEREST on this Certificate of Obligation
are hereby made payable in Huntsville, Walker County, Texas, without
exchange or collection charges to the registered owner hereof, with
such payments to be due on the dates and in the amounts as follows:
DATE
PRINCIPAL
$3,389.00
$3,389.00
$3,389.00
INTEREST
This Certificate of Obligation is one of a series of five (5)
Certificates of Obligation of the issue authorized by the City Council
of the City of Huntsville for the purpose of acquiring equipment, and
in accordance with an Ordinance duly confirming the purchase of such
equipment adopted and passed by the City Council of the City of Huntsville
on the day of , 1979, and duly recorded in the
minutes of the 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 with-
out 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
required 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 1979.
ATTEST:
RUTH DeSHAW, CITY SECRETARY
MORRIS I. WALLER, MAYOR
FULL CONSIDERATION therefor being hereby acknowledged, this
Certificate of Obligation was delivered to
the original holder, on this date, to -wit:
and by it hereby transferred and assigned to
Dated:
Amount $ 31,081.00
Register No.
ISSUED: 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 the registered owner hereof in installments and on
the dates as below indicated the total sum of
THIRTY ONE THOUSAND EIGHTY ONE DOLLARS AND NO /100
($31,081.00), in lawful money of the United States of America, with
interest thereon from date of issue until paid at the rate of 6.45
per cent per annum, payable on and annually thereafter
on the day of of each and every year as here-
inafter provided until such aggregate sum if fully paid.
BOTH PRINCIPAL AND INTEREST on this Certificate of Obligation
are hereby made payable in Huntsville, Walker County, Texas, without
exchange or collection charges to the registered owner hereof, with
such payments to be due on the dates and in the amounts as follows:
DATE
PRINCIPAL
$7,770.25
$7,770.25
$7,770.25
$7,770.25
INTEREST
This Certificate of Obligation is one of a series of five (5)
Certificates of Obligation of the issue authorized by the City Council
of the City of Huntsville for the purpose of acquiring equipment, and
in accordance with an Ordinance duly confirming the purchase of such
equipment adopted and passed by the City Council of the City of Huntsville
on the day of , 1979, and duly recorded in the minutes
of the 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 with-
out 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
required 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 , 1979.
ATTEST:
RUTH DeSHAW, CITY SECRETARY
ORRIS 1. WALLER, MAYOR
FULL CONSIDERATION therefor being hereby acknowledged, this
Certificate of Obligation was delivered to
the original holder, on this date, to-wit:
and by it hereby transferred and assigned to
Dated:
ISSUED:
Amount $ 18,649.00
Register No.
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 the registered owner hereof in installments and on
the dates as below indicated the total sum of
EIGHTEEN THOUSAND SIX HUNDRED FORTY NINE DOLLARS AND NO /100
($18,649.00), in lawful money of the United States of America, with
interest thereon from date of issue until paid at the rate of 6.45
per cent per annum, payable on and annually there-
after on the day of of each and every year as
hereinafter provided until such aggregate sum is fully paid.
BOTH PRINCIPAL AND INTEREST on this Certificate of Obligation
are hereby made payable in Huntsville, Walker County, Texas, without
exchange or collection charges to the registered owner hereof, with
such payments to be due on the dates and in the amounts as follows:
DATE
PRINCIPAL
$4,662.25
$4,662.25
$4,662.25
$4,662.25
INTEREST
This Certificate of Obligation is one of a series of five (5)
Certificates of Obligation of the issue authorized by the City Council
of the City of Huntsville for the purpose of acquiring equipment, and
in accordance with an Ordinance duly confirming the purchase of such
equipment adopted and passed by the City Council of the City of Huntsville
on the day of , 1979, and duly recorded in the
minutes of the 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 with-
out 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
required 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
1979.
ATTEST:
RUTH DeSHAW, CITY SECRETARY
MORRIS I. WALLER, MAYOR
FULL CONSIDERATION therefor being hereby acknowledged, this
Certificate of Obligation was delivered to
the original holder, on this date, to-wit:
and by it hereby transferred and assigned to
Dated:
ISSUED:
Amount $ 8,637.00
Register No.
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, acknowledged itself indebted to and FOR VALUE RECEIVED hereby
promises to pay to the registered owner hereof in installments and on
the dates as below indicated the total sum of
EIGHT THOUSAND SIX HUNDRED THIRTY SEVEN DOLLARS AND NO/100
($8,637.00), in lawful money of the United States of America, with
interest thereon from date of issue until paid at the rate of 6.45
per cent per annum, payable on and annually there-
after on the day of of each and every year
as hereinafter provided until such aggregate sum is fully paid.
BOTH PRINCIPAL AND INTEREST on this Certificate of Obligation
are hereby made payable in Huntsville, Walker County, Texas, without
exchange or collection charges to the registered owner hereof, with
such payments to be due on the dates and in the amounts as follows:
DATE
PRINCIPAL
$2,159.25
$2,159.25
$2,159.25
$2,159.25
INTEREST
This Certificate of Obligation is one of a series of five (5)
Certificates of Obligation of the issue authorized by the City Council
of the City of Huntsville for the purpose of acquiring equipment, and
in accordance with an Ordinance duly confirming the purchase of such
equipment adopted and passed by the City Council of the City of Huntsville
on the day of , 1979, and duly recorded in
the minutes of the 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 with-
out 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
required 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
1979.
MORRIS I. WALLER, MAYOR
ATTEST:
RUTH DeSHAW, CITY SECRETARY
FULL CONSIDERATION therefor being hereby acknowledged, this
Certificate of Obligation was delivered to
the original holder, on this date, to-wit:
and by it hereby transferred and assigned to
Section 3. While said Certificate of Obligation or installment,
thereof are outstanding and unpaid, there shall be annually levied,
assessed and collected in due time, form and manner a tax upon all of
the taxable property in said City sufficient to pay the current interest
thereon and to create a sinking fund sufficient to pay each installment
of principal as the same becomes due, or a sinking fund of 2%, whichever
is greater; and in order to pay the interest on said Certificate of
Obligation for the first year and to create a sinking fund with which
to pay the principal as the same becomes due, or a sinking fund of 2%
whichever is greater, there is hereby levied a sufficient tax on each
ONE HUNDRED DOLLARS valuation of taxable property in said City for the
current year and the same shall be assessed and collected and applied
to the purposes names; and while said Certificate of Obligation is
outstanding and unpaid, a tax each year at a rate from year to year as
will be ample and sufficient to provide funds to pay the then current
interest on said Certificates of Obligation and to provide the necessary
sinking fund, full allowance being made for delinquencies and costs of
collection, shall be and is hereby levied for each year, respectively,
and said tax shall each year be assessed and collected and applied to
the payment of the principal of and interest on said Certificate of
Obligation, to be kept separate and apart from all other funds of the
City. The City Council hereby declares and covenants that it will
provide and levy a tax legally and fully sufficient for such Certificates
of Obligation, it having been determined that the existing and available
taxing authority of the City for such purposes is adequate to permit
a legally sufficient tax in consideration of all other outstanding
obligations.
Section 4. The Mayor and City Secretary are hereby empowered
and directed to proceed with the delivery of said Certificate of
Obligation and the closing of said acquisition at the earliest practicable
date and are authorized to complete the same in accordance with the
terms hereof and to do all things necessary or prerequisite thereto.
Section 5. The interest rate for each of the Certificates of
Obligation hereinabove authorized shall be as follows:
Certificate Register No. $ 2,998.00
Certificate Register No. $ 10,167.00
Certificate Register No. $ 31,081.00
Certificate Register No. $ 18,649.00
Certificate Register No. $ 8,637.00
At the time said Certificates of Obligation are issued such Certificates
shall be registered and recorded by such register number on the books
of said City to the Registered owner thereof.
Section 6. That the public importance of this measure and the
fact that it is to the best interest of the City to acquire the
equipment herein contemplated at the earliest possible date, for the
immediate preservation of the public peace, property, health and safety
of the City and its citizens, creates an emergency and an imperative
public necessity, and this ordinance shall take effect and be in force
from and after its passage and approval, and it is so ordained.
Section 7. Notwithstanding any other provisions in the within
Ordinance to the contrary as to the authorized issuing date for such
Certificate of Obligation, such Certificate shall be dated and bear
interest from date of delivery and execution by the Mayor and City Sec-
retary.
PASSED AND APPROVED on first reading by unanimous vote of he
City Coci1 of the City of Huntsville, Texas, on this the ,2
, 1979.
H DeSHAW, CITY SECRETARY
APPROVED S TO FORM:
4../'k 41-1
JACK IANEY
CITY ATTORNEY
MORRIS I. WALLER, MAYOR
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