ORD 1994-22 - Claim - Delivery CO - 60 inch Flail Mower 08-09-1994ORDINANCE NO. 94 -22
AN ORDINANCE APPROVING CLAIM AND DELIVERY OF A
CERTIFICATE OF OBLIGATION FOR A ONE (1) NEW AND UNUSED
60" FLAIL MOWER; AND CONTAINING OTHER PROVISIONS
RELATED HERETO.
WHEREAS the City of Huntsville, Texas (City) found that it was advisable for the City to
purchase one (1) 60" flail mower 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 Watson Distribution (Houston) in the amount of
$11,480 as the lowest and best bid for the purchase of the flail mower; 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 Watson Distribution (Houston) in the sum of
$11,480.
The Certificate of Obligation herein authorized to be delivered shall bear interest
at the rate of 5.49 % per annum from date of initial delivery shown on the face
of such certificate.
SECTION 3: There shall be executed and delivered to Watson Distribution (Houston) a City
of Huntsville, Texas, Equipment Acquisition Certificate of Obligation, dated
August 10, 1994.
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 9th day of August, 1994.
CITY OF HUNTSVILLE, TEXAS
W. H. Hodges, May
ATTEST:
Danna Welter, City Secretary
APPROVED:
../ • *. /
S ott Boun rs, City Attorney
Dated: July 26, 1994 Amount: $11,480
Issued: August 10, 1994 Register No. 94 -05
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
Eleven Thousand Four Hundred Eighty And No/ 100 Dollars
($11,480) in lawful money of the United States of America, with interest thereon from date of
issue until paid at the rate of 5.49% per cent per annum, payable on August 10, 1995, and
annually thereafter on the 10th day of August 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
1995 $ 2,870.00 $ 630.25 $ 3,500.25
1996 2,870.00 472.69 3,342.69
1997 2,870.00 315.13 3,185.13
1998 2,870.00 157.56 3,027.56
TOTAL $ 11,480.00 $ 1,575.63 $ 13,055.63
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 the City's 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 10th day of August,
1994.
DATE OF INITIAL DELIVERY OF THIS CERTIFICATE: /- 6/1
ATTEST:
anna Welter, City Secretary
ASSIGNMENT AND TRANSFER
Full consideration therefor being hereby acknowledged, this Certificate of Obligation was
delivered to Watson Distribution (Houston), the original holder, on this the I to day of
1994, and by it hereby assigned and transferred to C. M.
Brown.
WATSON DISTRIBUTION
(HOUSTON)
CERTIFICATE OF REGISTRATION
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 of
Registered Holder
C. M. Brown
Signature
Date of Finance Director
Registration (Registrar)