ORD 1993-12 - Claim and Delivery Of C.O. - Backhoe 04-06-1993ORDINANCE NO. 93-12
AN ORDINANCE APPROVING CLAIM AND DELIVERY OF
CERTIFICATES OF OBLIGATION FOR A 1993 DIESEL POWERED
BACKHOE; AND CONTAINING OTHER PROVISIONS RELATED
HERETO.
WHEREAS the City Council of the City of Huntsville, Texas (City), by Ordinance No.
92-25, found that it was advisable for the City to purchase a 1993 diesel
powered backhoe and that Certificates of Obligation be issued by the City for
all or any part of the cost of same; and
WHEREAS
WHEREAS
WHEREAS
the notice for the action to issue Certificates of Obligation was published at
the times and in the manner required by law; and
the City awarded a contract to Mustang Tractor and Equipment in the amount
of $27,971 as the lowest and best bid for the purchase of the 1993 diesel
powered backhoe; and
the City Council wishes to authorize payment thereof and delivery of a
Certificate of Obligation.
THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
HUNTSVILLE, TEXAS, that:
SECTION 1:
SECTION 2:
There is now due and owing to Mustang Tractor and Equipment the sum of
$27,971.
The Certificate of Obligation herein authorized to be delivered shall bear
interest at the rate of 4.98% per annum from date of initial delivery shown on
the face of such certificate.
SECTION 3: There shall be executed and delivered to Mustang Tractor and Equipment a
City of Huntsville, Texas, Equipment Acquisition Certificate of Obligation,
dated April 7, 1993.
SECTION 4: The Mayor, City Secretary and other appropriate City officials are hereby
authorized and directed to deliver the Certificate and to do any and all things
necessary or convenient to carry out the terms of this ordinance.
INTRODUCED, READ AND PASSED by the unanimous vote of the City Council of the
City of Huntsville, on this the 6th day of April, 1993.
CITY OF HUNTSVILLE, TEXAS
W. H. Hodges, Mayor
ATTEST:
Danna Welter, City Secretary
APP OVED AS TO FORM:
Scott Bou ds, City Attorney
Dated: January 12, 1993 Amount: $27,971
Issued: April 7, 1993
Register No. 93-01
UNITED STATES OF AMERICA
COUNTY OF WALKER
STATE OF TEXAS
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
Twenty Seven Thousand Nine Hundred Seventy-One And No/100 Dollars
($27,971) in lawful money of the United States of America, with interest thereon from date
of issue until paid at the rate of 4.98 per cent per annum, payable on April 7, 1994, and
annually thereafter on the 7th day of April of each and every year as hereinafter provided
until such 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 INTEREST TOTAL
1994 $ 6,992.75 $ 1,392.96 $ 8,385.71
1995 6,992.75 1,044.72 8,037.47
1996 6,992.75 696.48 7,689.23
1997 6,992.75 348.24 7,340.99
$27,971.00 $ 3,482.39 31,453.39
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, 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.
CITY OF HUNTSVILLE
CERTIFICATE OF OBLIGATION BIDS
FOR BACKHOE
OPENED 4 -1 -93
.......................
..........................
BIDDER
INTEREST
..............................
TERMS/PAY OFF
Donnie Wells
4.98%
Teleflex (Robert Gross)
5.4%
G E Capital Public Finance
5.55%
Stephen Davis
6.12%
C. M. Brown
6.24%
Banc One Leasing Corp.
6.49%
T. W. Keeland
6.5%
Assoc. Commercial Corp.
(Ed Pletzke Assoc.)
6.78%
$300 underwriting fee
Comelco Commercial Equip Leas.
7.25%
$50 underwriting fee
First National, Huntsville
(John Sanders)
7.50%
Koch Financial Corp.
No Bid