ORD 1984-02 - Certificate of ObligationORDINANCE NO. 84 -2
AN ORDINANCE APPROVING CLAIM AND DELIVERY OF
CERTIFICATES OF OBLIGATION; AND CONTAINING OTHER
PROVISIONS RELATED HERETO.
WHEREAS the City Council of the City of Huntsville, Texas (City), by
Ordinance No. 83 -28, found that it was advisable for the City to
purchase engineering computer software; 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 Holguin & Associates, Inc. in the
amount of $16,700.00 as the lowest and best bid for the purchase of
said engineering computer software; and
WHEREAS the City has accepted delivery of the engineering computer soft-
ware; and
WHEREAS the City has arranged for said certificates to be assigned to
Huntsville National 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:
Section
Section
Section
There is now due and owing to Holguin & Associates, Inc. the
sum of $16,700.00.
2: The Certificate of Obligation herein authorized to be delivered
shall bear interest at the rate of 9.25 per cent per annum from
date of initial delivery shown on the face of such certificates.
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
August 16, 1983.
4: The Mayor, City Secretary and other appropriate City officials
are hereby authorized and directed to deliver said 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, Texas, on this the 10th day of January, 1984.
William V. Nash, Mayor
ATTEST:
uth DeShaw, City Secretary
APPROVED AS TO FORM:
SL,,,,d,t,
Scott Bounds, City Attorney