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RESO CC 11/09/1971 - Calling Bond Election w RESOLUTION CALLING BOND ELECTION; PROVIDING DETAILS RELATING TO SAID ELECTION AND CONTAINING OTHER PRO- VISIONS RELATING TO SAID ELECTION WHEREAS, at an election held on the 17th day of November, 1970, the City Council of the City of Huntsville, Texas, was authorized to issue $600, 000 bonds for the purr- pose of improving, enlarging, extending or repairing the City' s sanitary sewer system, said bonds to be payable from the net revenues derived from the operation of the City ' s waterworks and sanitary sewer system and to be on a parity with the outstanding bonds of said City payable from the net revenues derived from the operation of the waterworks and sanitary sewer system of the City; and WHEREAS, on the 12th day of January, 1971, the City Council authorized the issuance of $400, 000 of such bonds, leaving $200, 000 bonds to be issued, sold and delivered at a later date when needed to carry out the voted pur- poses; and WHEREAS, the City Council now desires to issue said remaining $200, 000 bonds for the voted purpose but is unable to issue such bonds on a parity with the outstanding revenue , bonds of said City because of certain covenants and condi- tions relating to the issuance of additional bonds con- tained in the ordinances authorizing the issuance of such outstanding bonds; and _ WHEREAS, the City Council deems it necessary and desir- able that an election be called and held within said City for the purpose of voting on the proposition of issuing $200,000 sanitary sewer system bonds, such bonds to be pay- able from the net revenues derived from the operation of the City 's waterworks and sanitary sewer system, but to be ,junior and subordinate in all respects to the outstanding bonds of said City payable from the net revenues derived from the operation of its waterworks and sanitary sewer system, all as hereinafter set forth;. Now, Therefore , BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF HUNTSVILLE, TEXAS: Section 1: That an election shall be held in and throughout the City of Huntsville, Texas, on the 4th day of December , 1971, which is not less than fifteen ( 15) nor more than thirty ( 30) days from the date of this resolution, at which election the following proposition shall be submitted to the duly qualified resident electors of .the City, to-wit: PROPOSITION SHALL THE CITY COUNCIL OF THE CITY OF HUNTSVILLE, TEXAS, BE AUTHORIZED TO ISSUE THE REVENUE BONDS OF SAID CITY IN THE MAXIMUM AMOUNT OF $200, 000, MATUR- ING SERIALLY IN SUCH INSTALLMENTS AS ARE FIXED BY SAID CITY COUNCIL OVER A PERIOD OR PERIODS NOT EX- CEEDING FORTY ( 40) YEARS FROM THEIR DATE OR DATES, BEARING INTEREST AT ANY RATE OR RATES, AND TO SELL SAID BONDS AT ANY PRICE OR PRICES, PROVIDED THAT THE NET EFFECTIVE INTEREST RATE, AS DEFINED BY ARTICLE 717k-2, VERNON'S TEXAS CIVIL STATUTES, AS AMENDED, ON ANY ISSUE OR SERIES, SHALL NOT EXCEED TEN PERCENT ( 10% ) PER ANNUM, ALL AS MAY BE DETER- MINED BY THE CITY COUNCIL OF SAID CITY FOR THE PURPOSE OF CONSTRUCTING PERMANENT IMPROVEMENTS, TO-WIT: IMPROVING, ENLARGING, EXTENDING OR RE- PAIRING THE CITY'S SANITARY SEWER SYSTEM; SAID BONDS TO BE ISSUED IN ACCORDANCE WITH, AND SECURED IN THE MANNER PROVIDED IN, ARTICLES 1111 TO 11180 BOTH INCLUSIVE, VERNON'S TEXAS CIVIL STATUTES , AS AMENDED; AND TO SECURE PAYMENT OF THE INTEREST ON SAID BONDS AS IT ACCRUES AND THE PRINCIPAL OF SAID BONDS AS IT MATURES BY PLEDGING THE NET REVENUES DERIVED FROM THE OPERATION OF SAID CITY 'S WATERWORKS AND SANITARY SEWER SYSTEM; EACH BOND TO BE CONDITIONED THAT THE HOLDER THEREOF SHALL NEVER HAVE THE RIGHT TO DEMAND PAYMENT OF SAID OBLIGATION OUT OF ANY FUNDS RAISED OR TO BE RAISED OUT OF TAXATION; AND THE LIEN OF SAID BONDS TO BE JUNIOR AND SUBORDINATE IN ALL RESPECTS TO N THE LIEN OF THE OUTSTANDING BONDS OF SAID CITY PAY- ABLE FROM THE NET REVENUES DERIVED FROM THE OPERA- TION OF SAID WATERWORKS AND SANITARY SEWER SYSTEM; PROVIDED, HOWEVER, THAT IF THIS PROPOSITION RE- CEIVES A MAJORITY OF THE VOTES CAST AT THE ELEC- TION TO BE HELD THEREON, •THE CITY COUNCIL SHALL NO LONGER BE AUTHORIZED TO ISSUE THE REMAINING $2000000 SANITARY SEWER SYSTEM REVENUE BONDS VOTED AT AN ELECTION HELD WITHIN SAID CITY ON NOVEM- BER 17, 1970? Section 2: That the entire City shall constitute one election precinct and said election shall be held at the City of Huntsville Fire Department Building, 1226 14th Street, within said City and the following named persons are appointed officers of said election, to-wit: Mrs . Bob Rikard Presiding Judge Mrs . Margie Ray Assistant Judge Section 3: That voting in said election shall be by the use of paper ballots which shall conform to the requirements of the election code of the 6tate of Texas and have printed thereon the following: PROPOSITION [ ] FOR ) ISSUANCE OF $200, 000 SANITARY [ ) AGAINST ) SEWER SYSTEM REVENUE BONDS The voter shall vote on each proposition by placing an 11V in the square beside the statement indicating the ' way he wishes to vote . Absentee voting shall be conducted by the Clerk for absentee voting, namely, Frank Robinson, Jr. , the Assistant City Secretary, and the place at which absentee voting shall be conducted is designated as the Office of the City Secre- tary in the City Hall in Huntsville, Texas, which is also the absentee voting clerk's mailing address to which ballot applications and ballots voted by mail may be sent . Said clerk shall keep said office open for at least eight (8) hours, that is from 8 : 00 o ' clock a.m. to 12:00 noon and from 1: 00 o'clock p.m. to 5 : 00 o 'clock p.m. on each day for absentee voting which is not a Saturday, a Sun- day or an official state holiday . Section 4: That the election shall be held and con- ducted and returns made to the City Council in accordance with the Election Code of the State of Texas . Section 5: That notice of said election shall be given, by posting a copy of a notice containing a substantial copy of this resolution at the City Business Office, at the City Hall, and at one other public place within said City, not , less than fourteen ( 14) days prior to the date upon which said election is to be held and by publica- tion of said notice on the same day in each of two con- secutive weeks in The Huntsville Item, the first of said publications to be made not less than fourteen (14) days prior to the date set for said election. It is hereby found and declared that The Huntsville Item is a newspaper published in the City of Huntsville, Texas, is of general circulation within said City, and is the official newspaper of said City . PASSED AND APPROVED this 9th day of November, 1971. /s/ W. Ben Blalock, Jr. Maftr, City of Huntsville , ATTEST: /s/ Weldon Coleman City Secretary, City of Huntsville, Texas I r 1 CERTIFICATE FOR RESOLUTION . THE STATE OF TEXAS § COUNTY OF WALKER § We, the undersigned officers of the City Council of the City of Huntsville, Texas, hereby certify as follows : 1. The City Council of the City of Huntsville, Texas, con- vened in Regular Session, open to the public, on the 9th day of Novemher , 1971, in the City Business Office, within said City, and the roll was called of the duly constituted officers and members of the City Council and the City Secretary, to-wit: W. Ben Blalock, Jr . Mayor Marion A. King Alderman and Mayor Pro-Tem John W. Amick Alderman Scott E. Johnson Alderman Paul W. Knox Alderman Thomas N. Mainer III Alderman Frank Murray Alderman Frank A. Vickers Alderman Morris I . Waller Alderman Weldon Coleman City Secretary and all of said persons were present, except the following ab- sentee(s ) : None , thus constituting a quorum. Whereupon, among other business, the following was transacted at said meeting : a written RESOLUTION CALLING BOND ELECTION; PROVIDING DETAILS RELATING TO SAID ELECTION AND CONTAING OTHER PRO- VISIONS RELATING TO SAID ELECTION was introduced for the consideration of said City Council and read in full . It was then duly moved and seconded that said Resolu- tion be adopted; and, after due discussion, said motion, carrying with it the adoption of said Resolution, prevailed and carried by the following vote: AYES : All members of said City Council present voted "Aye" . NOES : None. 2 . That a true, full and correct copy of the aforesaid Resolution adopted at the meeting described in the above and foregoing paragraph is attached to and follows this certifi- cate; and that said Resolution has been duly recorded in said . City Council 's minutes of said meeting; that the persons named in the above and foregoing paragraph are the duly chosen, quali- fied and acting officers and members of said City Council as indi- cated therein; that each of the officers and members of said Council was duly and sufficiently notified officially and personally, in advance, of the time, place and purpose of the aforesaid meet- ing, and that said Resolution would be introduced and considered for adoption at said meeting, and each of said officers and mem- bers consented, in advance, to the holding of said meeting for such purpose; that said meeting was open to the public as required by law; and that public notice of the time, place and subject of said meeting was given as required by Vernon 's Texas Civil Statutes, Article 6252-17, as amended . SIGNED AND SEALED the 9th day of November , 1971. City Secretary Mayor (/ (SEAL) NOTICE OF BOND ELECTION TO THE DULY QUALIFIED RESIDENT ELECTORS OF THE CITY OF HUNTSVILLE; TEXAS: Notice is hereby given that an election will be held In and throughout the City of Huntsville, Texas, on the 4th day of ppcemher 1971, pursuant to and in keeping with the following resolution adopted by the City Council of the City of Huntsville , Texas , to-wit: