ORD CC 10/23/73 Obligation Bonds•
AN ORDINANCE BY THE CITY COUNCIL OF THE CITY OF HUNTSVILLE,
TEXAS, AUTHORIZING THE ISSUANCE OF $52,500.00 "CITY OF HUNTSVILLE,
TEXAS, EQUIPMENT ACQUISITION CERTIFICATES Off' OBLIGATION ", DATED
OCTOBER 23, 1973, PRESCRIBING THE FORM OF CERTIFICATES AND THE
FORM OF ENDORSEMENTS 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 23rd day of October, 1973,
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 connection with Sanitary
Landfill Operations for its public purposes, at a cost not exceeding
$52,500.00; 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 in-
terest bearing Certificates of Obligation of the City in an amount
not to exceed $52,500.00 for such purposes upon terms approved by
the City Council, said Certificates are to bear interest at a rate not
to exceed five and one -half (5 -1/2 %) per cent per annum and to mature
not later than November 1, 1978; issued upon the full faith and
credit of the City and payable from ad valorem taxes; and
WHEREAS, official notice of the City Council's intentions
aforementioned was duly given and the notice requesting bids for
the purchase of such equipment and the publication thereof in the
City's official newspaper, The Huntsville Item, on the 27th of
September, 1973, and the 3rd day of October, 1973, the first said
date of publication being at least fourteen (14) days before the
date designated for opening of said bids and passage of the within
Ordinance; and
WHEREAS, it appears to the City Council that all prerequisites
to the valid authorization of the intended Certificates of Obligation
for their stated purposes has been accomplished in accordance with
the law, including the Certificate 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:
November 1, 1974
November 1, 1975
November 1, 1976
November 1, 1977
November 1, 1978
$5,250.00
$5,250.00
$5,250.00
$5,250.00
$5,250.00
THIS CERTIFICATE OF OBLIGATION represents one-half of
the issue authorized by the City Council for the purpose of acquiring
certain Sanitary Landfill Equipment for the City, all pursuant to
notice of intention duly issued and published in the time and manner
prescribed by law and in accordance with an Ordinance duly confirm-
ing the purchase of said equipment adopted and passed by the City
Council of the City of Huntsville on the 23rd day of October, 1973,
and duly recorded in the Minutes of said CitTCouncil.
- -
of Th City reserved the right to prepay all or any part
s Certificate at any time prior to the due date or maturity
thereof without •rem 11 •-•- 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 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
1st day of November, 1973.
MORRIS I. WALLER, Mayor
City of Huntsville, Texas
AT4T :
A.zz
GRACE TURNER, 'City Secretary
(Form of Certificate of Delivery and Assignment to
be typed on the back of Certificate of Obligation)
The City reserved 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 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 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 the Mayor and attested to by the City
Secretary, the date of this Certificate of Obligation being the
1st day of November, 1973.
MORRIS I. WALLER, Mayor
City of Huntsville, Texas
TURNER, City Sec e a
(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 was delivered to FOGLEEQUIPMENT COMP-
ANY, the original holder, on this date, to-wit: November 1, 1973,
and by it hereby transferred and assigned to the Huntsville National
Bank, Huntsville, Texas.
FOGLE EQUIPMENT COMPANY
BY:
-5-
• •
PASSED AND APPROVED, this the day of October,
A. D., 1973.
ATTE
GRA E TURNER, City Secretary
P'OVED AS TO FO
v
MORRIS I. WALLER, Mayor
City of Huntsville, Texas
MARTIN D. COLT EY, City Atto
APPROVED:
J. H. McALISTER, City Manager
(SEAL)