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Home My WebLink About1960-18TINE STATE OF TEXAS COUNTY OF DENTON CiTY OF DENTON On this the 14 day of June , t96o, the C~ty Councml of the Cmty of Denton, Texas, convened ~n --regular r~e~ting at the regular meeting place, with the follow:ng members thereof resent to-wit Frank R. Barrow Mayor, W. F. Brooks~ Sr Thomas E. Noel Counctlmen, George F. Spuller G. E. Taylor W D. Buttrmll Secretary w~th the followmng absent none ,~ const, tut~ng a quorum~ at which t~me the following proceedings were had Councilman Noel presented for the con- sxderatmon of the City Councm] a resolut.~on and ~aovad that tt be adopted Tho motion was seconded by Councilman S~uller The esolutmon was read mn full by the Ctty Secretary. The motion carryzng w~th ~t the adoption of the esolution prevailed by the following ~ote AY~]S Councilmen Brooks, Noe~ Spu]ler, Taylor and Mayor Barrow. NOES None The Mayor announced that the resolutmon had been ado,ole8 flhe resolutmon as adopted ms as follows RESOLUTION BY THE CITY COUNCIL OF TKE CITY OF DENTON, TEXAS, E~ERCISING ITS OPTION TO REDFEM CER- TAIN BONDS~ AND PROVIDING FOR ~OTICE T~REOF. I/~]REAS, heretofore on the l°i day of Novembez, the City Commission of the CJty of Denton~ Texas, passed an ordinance ~ ng the issuance of $],225~000 O0 City of Denton~ Texas, Water and Sewer Revenue Bonds~ dated November 1~ ]946, bearing ~nte~o~t at the rates a~ fo~lows Bonds Nos 1 to 305, both ]nc], 2~ oer Bonds Nos. 306 to 1225 both 2 3~%~ per anm~m, vayable May 1, ]91~7~ and sem~-annua]ly thereafte~ on >lovember lot and st of each year, maturing serkally throughout the years 1947 to ]976, nclus~ve, wzth option of prior payment conta,ned ,~ sa~d ordinance and ~n a~d bonds at the following t%mes and p~ ~ces 1The said City reserves the r~ght to redeem Bonds Nos 491 to 1225, both ~nc]us~ve, (maturzno' on November 1st in each of the years 1962 to 1976, both ~nclus~ve) mn whole or in part~ on November t, 1961, or on any ~nteresi payment date thereafter~ at oar and accrued Interest and a premium of 2-3/4~ of the principal amo~.nt thereof, PROVIDED, further~ that if less than all of said bonds are redeemed on any of such redemption date% ~ame shal~ be redeemed ~n inverse numerical orde~ and PEOVI~DED~ further, that at least thirty day~ pr~or to any ~nterest payment date upon whmch any of sa~d bonds are to be redeemed, notice of redemption, smgned by the City Secretary speclfymng the serial numbers and amounts of bonds to be redeemed) shall be published once in a f~nanc~al ournal of general circulation published in the C~[ty of New York, Mew York, and shall have beeu f~led w~th the First National Bank in Dallas~ Dallas, Texas (the paying agent named ~n each of sa%d bonds)~ and saould any bond or bonds not be presented for redemption vurs,~ant to such notmce tee same shall cease to bear ~ntere~% from and after the date so fixed for redemption. WHERF~S, said bonds were d~ly approved by the Attorney General of the ~3tate of Texas, were registered by the Comptroller of f~,bl Accounts of the State of Texas and were sold and delivered ~n accordance ~tb aw, and WHEREA$~ the City has an option to redeem at a or.ce of ar and accrued interest plus a premum of 2-3/4~ all of the above desc~ ~bed bonds which are now outstanding, and WKEREAS~ ~t ~s considered and adjudged to be to the be~t uterest of the C~ty that said bonds of the above do~cr~bed ~ssueo wh,ca now outstandmng be called for redemption BE IT RESOLVED BY THE CITY COU)~CIY OF T~E CITY OF DE~TON~ TEXAS 1. That the outstanding bonds of the following desc ,bed ssue are hereby called for redemptmon at a prmce o£ par and acct,]ed ~n~e~est to November 1, 196t plus a premium of 2-3/4~/~, the date of redemption be_u~ fmxed as the 1st day of November, ]96] C~ty of Denton~ T~xas, ~ater ana~ Sewer Revenue Bond% dated November 1~ 1046, or~g~na!ly ~ssued ~n the amount of ~%1,225,000 00~ now outstanding ~n the amount of $735~000 00, ~ear~ng lntere~t at thc late of 2-3/%~ per annum~ payable November !, ]960, and semm-annua]]y thereafter on ~y 1st and November 1st of ~ach year, mat~ing serially throughout the y~ars ]o6~ to 1976, both mnc]us~ve ~n the denomination of ?~000.00 each~ numbered 49]/~25~ inclus~ve 2 F~ds wm]l be deposited '~t the 0ff~ce of tr~e State Treasury, Aust~n~ Texas~ to pay ~a~d Bonds~ the ~c~ued ~nferest taereon to November 1, ]961, and the spec~.fzed premiums, [~ bo a~plted and ased b~ the State Treas~er~ as requmred by law In the event sa~d bonds are not m~e ented for redempt~on~ they shall thereafter cease to bear ,nterest from apd afte~ the date so fixed for redemption 3 The City Secretary oF ]he C~ty of Denton, Te:~a~, hereby directed to g~ve notmce of intention to redeem sa~d bonds ~n the fo!]ow~n~ manner by notice zn writing [,o the Fl-st ~Iat]ona] Bank an D.%]]as~ Texas~ and mublzcatlon in The Bond Buyer~ Ilow York, New Yo~k, at least thirty days before the date fixed for redemvt]on. 4 The ~ffayor~ City Secretary and City Treasure~ are hereby d~:ected to do any and all things necessary or convenient to car~y o~t ~:e p~ov~slons of th~s resolution. OPTED A~ APPROVED th~ tho 1~ day of Jun~ Mayor~ C try of Den~on~ '~'exas C ~ ~Y Attorney STATE OF TEXAS COUNTY OF DENTON CITY OF DENTON I, the undersl~ned~ City Sec~o%~ry of the C~ty of T~xa% do hereby certify that the above and foroco ~ ~s a t~ue~ correct copy of a ~eso]utton adopted by the C~ty Co,mc 1 of samd C,ty (~.nd of the minutes perta[n~ thereto) on the 1~ day of June 1960, e~ercis~ng Its optmon to redeem certain bonds, ~h~ch resolution n the minutes of ~a~d City Counczl IlIT~SS ~ ~ and thc seal of s~i~d C~ty th~ tho 1~ day of Jt~ne , 1960~~~ T~xa~ NOTICE OF BONDS CALLED TIE STATE OF TEXAS COU~Yi~Y OF DENTON CZTY OF DEi~0N The City of Denton, Texa~,, has exercised ~ts o~t~an edeem the outstanding bonds of the follow~n~ de~c ,bed ~ss~e C~ty of Denton~ Texa% Uato~ and Bower R ven~e Bonds, dated November ], 1946, o~g~na]~/ ~ssued ~n the amount of $],225,000 00, now outstand,n[~ ~n the amount of 735,000.00, bearing ~ntere~t at the ],%te of o-3/4~ per ann~ra, ~ayable November ], 1960, and seum-ann,~a!ly there- after on ~Ry 1st and November l~t of eacq year, matu~mng serially throughout the yeazs 19~ to ]976, both ~nclus~ve mn the denomanation of $1,000 OO each numbe] ed 49] /1995 The City hereby g~ves notice n ~zr~t~ng of the exe~e,s~ of ~ts option, fixing the date of redemption ~love~.]ber ]~ 1961~ that Bonds shall be redeemed on said date at par and ~cc~ued ~nterest thereou to November 1~ 1961, plus the specified prem~mm~ at the First National n Dallas, Della% Texas, that thereafter sa~d bond~ shall not bea~ Given parsuant to a resolution adopted by the Czt o~,the Czty of Dent~n, Texas ~~ /~ THE THE AUTHORITY ON MUNICIPAL BONDS E O I T I 0 N S NEW YORK4 N Y June 30, 1960 Mr W. D. Buttrill City Secretary, Municipal Building Denton, Texas Dear Mr. Buttrill. We have your le~er of June ROth, and have, accordingly scheduled the N~tice of Bonds Called for the City of Denton, Texas, for pub- lication in THE DAILY BOND BUYER of July 6th The usual ccm~limentary insertion will be made in TRE WEEKLY BOIID BUYER.of July llth, and copies of both issues will be forwarded to your office as soon as published Our bill and three affidavits will Be sent to your office in due course. Thanking you for your order, and with very best wishes, we remain, Very truly yours, WSS:SN William S. ~hAn~s, ~.~ Vice President une 2~, 1960 t~o F~ank ~ed. enS, oh Y:~,rf3t flouthvef~t~ He~tile 3~n~ Buil~i~ Ball.a, With roforen~e to our oonve~sation ~n the City a~r's offiee followin~ the Co~eil meeti~J~e 1~, 19~ it wan ~ unders~andin~ that I would not need to~ comply with p~a~raph t~ee of the resolution ~t~l no~ified by you, or that you would t~o o~e of this matter, YouFs ve~ W, D, Butt~ill WDB/me AT A REGULAR MEETING OF TEE 0ITY COUNCIL 0F THE CITY 0F DENTON, TEXAS, HELD AT THE MlYNICIPAL BUILDING 0F ~AID CITY ON THE 28TH DAY 0~ ~BNE, A.D. 1960. RESOLUTION EREAS, Lone Star Gas Company has offered the City of Denton a contract for f~rntshing industrial natural gas ser- vice to the City of Dentonts electric power generating plants for a period of three (3) years; and WHEREAS, '~he proposed initial rate for saia inaustrial natural gas service is in accordance with Lone Star Gas Com- pany,s publishe~ Rate 4-E; I~EEREAS, the Publlc Utilities Board of the City of Denton has recommended the acceptance of the aforesai5 contract; and I~HEREAS, it appea~s to the City Council that the best interests of the City of Denton will be served by the accep- tance of the contract; now therefore BE IT RESOLYmD BY THE CITY COUNCIL OF THE CITY OF DENTON, TEXAS, Sha$I~.Mayo~ Frank Barrow be and he is hereby authorizes to execute on behalf of the City of Denton, Texas, a contract with Lone Stay Gas Company fQr the fmrnishing of an industrial natural gas suppl~ for the Cit~ of Denton's electric power generating plan~s for an initial contract term of three (3) years. PAS~ AND A~PR0¥ED this 28th day of June, A.D. 1960. Mayor City of Denton, Texas ATTEST: City of Denton, Texas