ORD 1992-03 - Approving COD of Certificates of Obligation For 8 Yard Diesel Dump Truck 03-31-1992ORDINANCE NO. 92 -3
AN ORDINANCE APPROVING CLAIM AND DELIVERY OF
CERTIFICATES OF OBLIGATION; AND CONTAINING OTHER
PROVISIONS RELATED HERETO.
WHEREAS
WHEREAS
WHEREAS
the City Council of the City of Huntsville, Texas (City), by Ordinance No. 91-
30, found that it was advisable for the City to purchase an 8 yard diesel
powered dump truck and that Certificates of Obligation be issued by the City
for all or any part of the cost of same; and
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 Barrett Motor Co. in the amount of $34,598.00
as the lowest and best bid for the purchase of the 8 yard diesel powered dump
truck; and
WHEREAS 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: There is now due and owing to Barrett Motor Co. the sum of $34,598.00.
SECTION 2: The Certificate of Obligation herein authorized to be delivered shall bear
interest at the rate of 6.69% per annum from date of initial delivery shown on
the face of such certificate.
SECTION 3: There shall be executed and delivered to Barrett Motor Co. a City of
Huntsville, Texas, Equipment Acquisition Certificate of Obligation, dated
March 31, 1992.
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 31st day of March, 1992.
CITYkVOFF HUNTSSVVII,LE, TEXAS
W. H. Hodges, Mayor
APPROVED AS TO FORM:
Scott Bounds, City Attorney
Dated: December 10, 1991
Issued: March 31, 1992
Amount: $34,598.00
Register No. 92 -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
Thirty Four Thousand Five Hundred Ninety-Eight and No /100 Dollars
($34,598.00) in lawful money of the United States of America, with interest thereon from
date of issue until paid at the rate of 6.69 per cent per annum, payable on March 31, 1993,
and annually thereafter on the 31 day of March 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
TOTAL
3 -31 -93 $ 8,649.50 $ 2,314.61 $ 10,964.11
3 -31 -94 8,649.50 1,735.95 10,385.45
3 -31 -95 8,649.50 1,157.30 9,806.80
3 -31 -96 8,649.50 578.65 9,228.15
$ 34,598.00 $ 5,786.52 $ 40,384.52
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.
This Certificate shall be registered as to principal and interest in the owner's name upon
books of the City to be kept for that purpose at the office of the Finance Director of the
City, the registrar, such registration to be noted hereon. After such registration, no transfer
of this Certificate shall be valid unless made on said books at the request of the registered
owner hereof, or his duly authorized agent, and similarly noted hereon.
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 31st day of
March, 1992.
DATE OF INITIAL DELIVERY OF THIS CERTIFICATE:
. H. Hodges, Mayor
ASSIGNMENT AND TRANSFER
Full consideration therefor being hereby acknowledged, this Certificate of Obligation was
delivered to Barrett Motor Co., the original holder, on this date, to -wit: March 31, 1992, and
by it hereby assigned and transferred to Donnie Wells.
BARRETT MOTOR CO.
CERTIFICATE OF REGIS ION
/;
IT IS HEREBY CERTIFIED that I have this day registered this Certificate as to
principal in the name of the holder as indicated in the registration blank below, on the
books kept by me for such purpose. The principal of and interest on this Certificate shall
be payable only to the registered holder named in the below registration blanks.
Name and Signature of
Registered Holder
Donnie Wells
Date of Name and Signature of
Registration Finance Director
(Registrar)
3 -31 -92 Patricia Allen
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