ORD 1983-24 - CO Rolloff TruckORDINANCE NO. 83 -24
AN ORDINANCE APPROVING CLAIM AND DELIVERY OF
CERTIFICATES OF OBLIGATION; AND CONI'AINING OTHER
PRO'VISIONS RELATED HERETO.
WHEREAS the City Council of the City of Huntsville, Texas (City), by
Ordinance No. 82 -37, found that it was advisable for the City to
purchase a roll -off truck; and that Certificates of Obligation be
issued by the City for all or any part of the cost of same; and
WHEREAS the notice for said action was published at the times and in the
manner required by law; and
WHEREAS the City awarded a contract to Davis Truck & Equipment Co. in the
amount of $53,860.00 as the lowest and best bid for the purchase of a
roll -off truck; and
WHEREAS Davis Truck & Equipment Co. assigned a portion of their contract to
South Loop Ford Truck Sales; and
WHEREAS the City has accepted delivery of the roll -off truck; and
WHEREAS the City has arranged for said certificates to be assigned to
American Bank upon delivery; and
WHEREAS the 1982 Federal Tax Equity and Fiscal Responsibility Act now
requires that bonds be issued in registered forms as of July 1, 1983;
THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF HUNTSVILLE,
TEXAS, that:
Section 1: There is now due and oWing to Davis Truck & Equipment Co. the
sum of $13,755.00 and to South Loop Ford Truck Sales the sum of
$40,105.00.
Section 2: The Certificates of Obligation herein authorized to be delivered
shall bear interest at the rate of 9.35 per cent per annum from
date of initial delivery shown on the face of such certificates.
Section 3: There shall be executed and delivered to said contractors
certificates of the City of Huntsville Equipment Acquisition
Certificates of Obligation, in registered form, and dated
November 16, 1982.
Section 4: The Mayor, City Secretary and other appropriate City officials
are hereby authorized and directed to deliver said Certificates
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, Texas, on this the 12th day of July, 1983.
William V. Nash, Mayor
ATTEST:
DeShaw, City Secretary
APPROVED AS '10 FORM:
s
Scott Bounds, City Attorney