HomeMy WebLinkAbout1996-010ORDINANCE NO "DIG
AN ORDINANCE CALLING A BOND ELECTION FOR FEBRUARY 24, 1996,
DESIGNATING POLLING PLACES, APPOINTING ELECTION OFFICIALS, SETTING
FORTH THE PROPOSITIONS TO BE SUBMITTED IN THE FORM TO BE SUBMITTED
ON THE OFFICIAL BALLOT, DETERMINING THE BONDS WILL BE WITHIN ALL
LEGAL DEBT LIMITATIONS, AND PROVIDING FOR AN EFFECTIVE DATE
WHEREAS, this City Council deems it advisable to call the election hereinafter
ordered, and
WHEREAS, it is hereby officially found and determined that holding the
hereinafter called election on a date other than a uniform election date established by
Section 41 001(a), Texas Election Code, is in the public interest, and that said meeting
was open to the public, and public notice of the time, place and purpose of said meeting
was given, all as required by Chapter 551, Government Code
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS
1 That an election shall be held between the hours of 7 00 A M and 7 00
P M on February 24, 1996, in said City, at the following designated polling places
a Voters residing in District No 1 shall vote at
Martin Luther King, Jr Recreation Center
1300 Wilson Street
Denton, Texas
b Voters residing in District No 2 shall vote at
Fire Station No 4
2110 Sherman Drive
Denton, Texas
c Voters residing in District No 3 shall vote at
North Lakes Recreation Center
2001 West Windsor Drive
Denton, Texas
d Voters residing in District No 4 shall vote at
Dema Recreation Center
1001 Parvin
Denton, Texas
2 That the following election officers are hereby appointed to hold said
election
a For the Central Counting Station George Hopkins, Presiding
Judge, Tim Hodges, Manager, and Randie Smith, Tabulation
Supervisor
b For District No 1 Varma Sims, Presiding Judge and Mireastiss
Woodson, Alternate Judge
c For District No 2 Dons Chipman, Presiding Judge and Mary
Mecay, Alternate Judge
d For District No 3 George Spuller, Presiding Judge and Jack Weir,
Alternate Judge
e . For District No 4 Ralph Pyke, Presiding Judge and Barbara Pyke,
Alternate Judge
3 That each Presiding Judge shall appoint not less than two qualified election
es.a Apetinn nmvidina that if the Presiding Judge
7 That all resident, qualified electors of said City shall be entitled to vote at
said election
8 That notice of such election shall be given by posting a substantial copy of
this Ordinance at four public places in said City, one of which shall be at the City Hall
door, not less than 15 days prior to the date set for said election, and a substantial copy of
this Ordinance also shall be published on the same day in each of two successive weeks in
a newspaper of general circulation published in said City, the date of the first publication
to be not more than 30 days nor less than 14 days prior to the date set for said election
9 That at said election the following PROPOSITIONS shall be submitted in
accordance with law
PROPOSITION NO 1
Shall the City Council of the City of Denton be authorized to issue the
bonds of said City, in one or more series or issues, in the aggregate
principal amount of $11,112,000, with the bonds of each such series or
issue, respectively, to mature serially within not to exceed thirty years from
their date, and to be sold at such prices and bear interest at such rates, not
to exceed the maximum rates permitted by law at the respective times of
issuance, as shall be determined within the discretion of the City Council,
for the purpose of the acquisition of property and making improvements
for public purposes in said City, to -wit street and traffic control
improvements, and shall said City Council be authorized to levy and cause
to be assessed and collected annual ad valorem taxes in an amount
sufficient to pay the annual interest on said bonds and provide a sinking
fund to pay said bonds at maturity?
PROPOSITION NO 2
Shall the City Council of the City of Denton be authorized to issue the
bonds of said City, in one or more series or issues, in the aggregate
principal amount of $7,238,000, with the bonds of each such series or
issue, respectively, to mature serially within not to exceed thirty years from
their date, and to be sold at such prices and bear interest at such rates, not
to exceed the maximum rates permitted by law at the respective times of
issuance, as shall be determined within the discretion of the City Council,
for the purpose of the acquisition of property and making improvements
for public purposes in said City, to -wit drainage improvements, and shall
said City Council be authorized to levy and cause to be assessed and
collected annual ad valorem taxes in an amount sufficient to pay the annual
interest on said bonds and provide a sinking fundto pay said bonds at
maturity?
PROPOSMON NO 3
Shall the City Council of the City of Denton be authorized to issue the
bonds of said City, in one or more series or issues, in the aggregate
principal amount of $7,650,000, with the bonds of each such series or
issue, respectively, to mature serially within not to exceed thirty years from
their date, and to be sold at such prices and bear interest at such rates, not
to exceed the maximum rates permitted by law at the respective times of
issuance, as shall be determined within the discretion of the City Council,
for the purpose of the acquisition of property and making improvements
for public purposes in stud City, to -wit park improvements, including
downtown beautification, athletic fields and recreation centers
improvements and additions, and shall said City Council be authorized to
levy and cause to be assessed and collected annual ad valorem taxes in an
amount sufficient to pay the annual interest on said bonds and provide a
sinking fund to pay said bonds at maturity?
10 That the official ballots for said election shall be prepared in accordance
with the Texas Election Code so as to permit the electors to vote "FOR or "AGAINST"
the aforesaid PROPOSITIONS, with the ballots to contain such provisions, markings, and
language as required by law, and with each such PROPOSITION to be expressed
substantially as follows
PROPOSITION NO 1
FOR )
THE ISSUANCE OF $11,112,000 OF STREET AND TRAFFIC
CONTROL HROVEMENT BONDS
AGAINST
FOR
AGAINST
PROPOSITION NO 2
THE ISSUANCE OF $7,238,000 OF DRAINAGE
IWROVEMENT BONDS
PROPOSITION NO 3
FOR )
THE ISSUANCE OF $7,650,000 OF PARK IMPROVEMENT
BONDS
AGAINST
11 That it :s hereby found and determined that the probable period of
usefulness of the propose improvements covered by the aforesaid PROPOSITIONS is 25
years
12 That Article 9, Sec 902 of the City Charter contains the followmg
provision and requires this election ordinance to distinctly specify
"(d) A determination of the net debt of the City after
issuance of the bonds thereby authorized, together with a
declaration that the bonds thereby authorized will be within
all debt and other limitations prescribed by the Constitution and
laws of the State of Texas"
The determination is hereby made that the net debt of the City after the issuance of
the bonds herein proposed to be submitted will be not more than $63,566,730 and it is
hereby declared that said general obligation bonds will be within all debt and other
limitations prescribed by the Constitution and laws of the State of Texas
13 That in all respects said election shall be conducted in accordance with the
Texas Election Code
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PASSED AND APPROVED this the----- --
d
ATTEST
JENNIFER WALTERS, CITY SECRETARY
BY:
APP ED A TO LEGAL FORM.
HER RT L. PROUTY, CITY ATTORNEY
BY: 6 ��U �L�✓7