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ORD 1983-40 - CO Equipment• • ORDINANCE NO. 83- 40 AN ORDINANCE AUTHORIZING PUBLICATION OF NOTICE TO BIDDERS AND TICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION FORA DUMP TRUCK, CAB CHASSIS AND BODY, AND MAKING VARIOUS PROVISIONS RELATED THERETO. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF HUNTSVILLE, TEXAS, that: Section 1: The City Secretary is hereby authorized and directed to cause to be published a notice to bidders and notice to issue Certificates of Obligation in substantially the following form: NOTICE TO BIDDERS AND NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION DUMP TRUCK - CAB CHASSIS AND BODY BID ND. 83- NOTICE IS HEREBY GIVEN that the City of Huntsville, Texas, is now accepting sealed bids for a dump truck - cab chassis and body. Bids will be received until 2 P.M., Wednesday, October 19, 1983, in the City of Huntsville Council Chambers, 1212 Avenue M. The City Council tentatively proposes to let a contract for such purpose and to authorize issuance of Certificates of Obligation, in accordance with the terms and provisions of this notice, at its October 25, 1983 meeting or at a subsequent meeting of the City Council in City Hall. Copies of specifications are on file and may be obtained or examined at the office of the Purchasing Department of the City at the City Service Center, 80 Highway 75 North. The City reserves the right to accept any bid deemed most advan- tageous, including alternates, to reject any or all bids, and to waive any informality. It is the intention of the City to pay all or any part of any contractual obligation to be incurred for such purchases by the issuance of Certificates of Obligation of the City pursuant to Texas Revised Civil Statutes Art. 2368a.1 and payable from City ad valorem taxes, in the maximum aggregate principal amount of $4,000.00, bearing interest at a rate not in excess of that prescribed by Texas Revised Civil Statutes Art. 717k-2, and maturing over a period of years not to exceed 20 years from the date thereof. /0 • • The successful bidder will be required to accept such Certificates of Obligation in payment of all or any part of the contract price. The City Council has made provisions for each contractor to sell and assign such Certificates of Obligation and each bidder is required to elect whether he will accept such Certificate in payment of all or a part of the contract price, or assign such certificates in accordance with such arrangements. Section 2: The notice set forth in Section 1 shall be published once a week for two (2) consecutive weeks in a paper that is of general circulation in the City of Huntsville and that has been duly designated as the official newspaper of the City. The date of first publication shall not be less than fourteen (14) days prior to the date set in said notice for the receipt of bids by Council. Section 3: For the reasons set forth in the notice of meeting posted as .the agenda on which this Ordinance was considered, a public emergency and imperative necessity exist for this Ordinance to be passed and take effect and be in full force and effect immediately after its passage. PASSED UNANIMOUSLY FIRST READING this 4:, day of PASSED SECOND READ this day of APPROVED this 27 day of , 1983. THE CITY OF HUNTSVILLE, TEXAS By , 1983. , 1983. • DeShaw, City Secret- y APPROVED AS TO FORM: s Scott Bounds, City Attorney William V. Nash, May r