1998-024 ORDINANCE NO
AN ORDINANCE DIRECTING THE PUBLICATION OF NOTICE OF INTENTION
TO ISSUE CITY OF DENTON UTILITY SYSTEM REVENUE BONDS,
AND DIRECTING THE ISSUANCE AND PUBLICATION OF NOTICE OF
SALE OF SAID BONDS. AND PROVIDING FOR AN EFFECTIVE DATE
THE STATE OF TEXAS
COUNTY OF DENTON
CITY OF DENTON
WHEREAS, the City Counal of the City of Denton, Texas, deems it necessary and adwsable
that the bonds hereinafter described be authorized, issued, sold, and del,vered
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS
Sectton I That the Ctty Secretary is directed to cause the following notme to be pubhshed
m the "Denton Record-Chromcle", wluch is a newspaper pubhshed m, and hawng general ctrculatton
tn, the City of Denton, on the same day of each of two consecutive weeks, w~th the date of the first
pubhcatton to be on or before March 6, 1998, being at least fifteen (1 $ days) prior to the date upon
wluch the City Councd ,ntands to pass the Ordtnance dascnbed m the following notice
"NOTICE OF INTENTION
TO ISSUE CITY OF DENTON UTILITY
SYSTEM REVENUE BONDS, SERIES 1998A
Nottce ts hereby given, in accordance w,th law, that the City Council of the City &Denton,
Texas, mtands to pass, at a Regular Meeting to be held commenc,ng at 11 00 a m, on March 24,
1998, at the lVlumcipal Budd,ng (City Hall), an Ordinance authonz,ng the ,ssuance, sale, and delivery
of an issue of bonds, to be evidenced mt,ally by a smgle fully registered bond payable tn installments,
but converttble into defimtlve bonds tn multiples of $5,000, to be designated as "City of Denton
Utthty System Revenue Bonds, Series 1998A", m the mammum pnnc,pal amount of $7,175,000, to
be secured,by and payable fi.om a first hen on and pledge of the "Pledged Revenues", wtuch "Pledged
Revenues" include wat~ally the '2qet Revenues" of the "System", w~th sa~d "System" tmttally conststmg
of the Ctty's entire ex~stm8 combined waterworks, samtary sewer, and electric hsht and power
system, all ,as will be defined and prowded in the aforesaid Ordmanee Sa~d bonds will bear interest
fi.om tbeirldate at maximum rates not to exceed fifteen percantum per annum, wdl be scheduled to
mature se~ally in installments w~tlun a maximum of not to exceed tlurty years fi.om their date, and
will be subject to redempuon prior to maturity, and will have such other and fu~tber characteristics,
as will be prey,deal in the aforesaid Ordinance Smd bonds will be anthonzed, issued, sold and
dehvered ,pursuant to Arttcles llllb, 1112, 1113, and 1114, Vernon's Annotated Texas Civil
Statutes, and other apphcable laws, for the purpose of obta~mng money for improvements and
extenstons oftbe aforesaid "System"
CITY OF DENTON, TEXAS"
By Jenmfer K Walters
Ctty Secretary
Sea:lion II That the City Secretary is directed to issue a Notice of Sale of Bonds in
substantially the follovang form
OFFICIAL NOTICE OF SALE
CITY OF DENTON, TEXAS
$7,175,000
UTILITY SYSTEM REVENUE BONDS,
SERIES 1998A
The City Council of the City of Denton, Denton County, Texas, vall receive sealed bids at the
Mumclpal Building (City Hall), 215 E McI~nney Street, in the City of Denton until
11 00 a m, C D T, March 24, 1998
for the purchase of
$-7,175,000 Utdl _ty System Revenue Bonds. Series 1998A, to be dated April 1, 1998, and to mature
serially on December 1 of each year 1998 through 2017
Sealed bids, plainly marked "Bid for Bonds", should be addressed to "Honorable Mayor and City
Council, City of Denton, Texas", and must be subnutted on the "Official Bid Form" to be made
available by the City Council prior the date of sale
All sealed bids vail be publicly opened and tabulated before the Council
Copies of the "Officml Statement", "Notice of Sale", and "Official Bid Form" are being prepared and
will be mailed to prospective bidders on or about March 10, 1998, and will be furmshed to any
prospective bidder upon request, by First Southwest Company, 500 First City Center, 1700 Pacific
Avenue, Dallas, Texas 75201, Financial Advisors to the City
The City reserves the nght to re,~ect any and all bids and to wmve any and all irregularities
By order of the City Council of the City of Denton, Texas
JENNIFER K WALTERS
City SecretaD'
City of Denton, Texas
Seetson III That smd Notace shall be pubhshed once m The Bond Buyer, New York, New
York, wtueh ~s a national pubhcat~on regularly and primarily carrying financial news and mume~pal
bond sale notices, and smd Not~ce also shall be pubhshed once in the "Denton Reeord-Chromele",
wbaeh has been designated as the official newspaper of the City of Denton Smd pubhcat~ons shall
be made at least tlurty days prior to the day set for receiwng b~ds
Section IV That ttus Ordinance shall become effective ~mmedlately upon ~ts passage and
approval
PASSED AND APPROVED tlus the 3rd day of February, 1998
Jack ~ll~, Mayor
ATTEST
APPROVED AS TO LEGAL FORM
Herbert L Prouty, City Attorney
CERTIFICATE FOK AN ORDINANCE
DIRECTING THE PUBLICATION OF NOTICE OF INTENTION TO ISSUE
CITY OF DENTON UTILITY SYSTEM REVENUE BONDS, AND DIRECTING THE
ISSUANCE AND PUBLICATION OF NOTICE OF SALE OF SAID BONDS,
AND PROVIDING FOR AN EFFECTIVE DATE
THE STATE OF TEXAS
COUNTY OF DENTON
CITY OF DENTON
We, the undersigned officers of smd C~ty, hereby certify as follows
1 The C~ty Council of smd C~ty convened m REGULAR MEETING ON THE 3RD DAY
OF FEBRUARY, 1998, at the Mumctpal Bmldmg (C~ty Hall), and the roll was called of the duly
c_onst~tuted officers and members of smd C~ty Council, to-vat
Jenmfer K Walters, Jack M~ller, Mayor
City Secretary Sandy Knstoferson
Eulme Brock, Mayor Pro Tern Rom Beasley
IV~ke Cochran Nell Durrance
Carl G Young, Sr
and all of smd persons were present, except the follovang absentees ~ ,
thus constituting a quorum Whereupon, among other business, the follovang was transacted at smd
MeeUng a written
AN ORDINANCE DIRECTING THE PUBLICATION OF NOTICE OF INTENTION TO
ISSUE CITY OF DENTON UTILITY SYSTEM REVENUE BONDS, AND DIRECTING THE
ISSUANCE AND PUBLICATION OF NOTICE OF SALE OF SAID BONDS, AND
PROVIDING FOR AN EFFECTIVE DATE
was duly introduced for the conslderet~on of smd C~ty Council and duly read It was then duly moved
and seconded that smd Ordmanea be passed, and, after due &scuss~on, smd motion, cany~ng vath ~t
the passage of smd Ordinance, prevmled and carried by the follovang vote
AYES
NOES
ABSENTIONS
2 That a true, full, and correct copy of the aforesmd Ordinance passed at the Meeting
described m the above and foregoing paragraph is attached to and follows this Certificate, that smd
Ordinance has been duly recorded m smd City Council's rmnutes of said Meeting, that the above and
foregoing paragraph is a true, full, and correct excerpt from stud City Council's nunutes of smd
Meeting pertaining to the passage of said Ordinance, that the persons named in the above and fore-
going paragraph are the duly chosen, qualified, and acting officers and members of smd City Council
as indicated therein, and that each of the officers and members of stud City Council was duly and
sufficiently notified officially and personally, in advance, of the time, place, and purpose of the
aforesaid Meeting, and that smd Ordinance would be introduced and considered for passage at said
Meeting, 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, Texas Governmental Code
3 That the Mayor of said City has approved, and hereby approves, the aforesaid Ordinance,
that the Mayor and the City Secretary of smd City have duly signed smd Ordinance, and that the
Mayor and the City Secretary of smd City hereby declare that their sigmng of this Certificate shall
constitute the sigmng of the attached and following copy of said Ordinance for all purposes
SIGNED AND SEALED as of the 3rd day of Febc~..~998
(SEAL)
We, the undersigned, being respectively the City Attorney and the Bond Attorneys of the City
of Denton, Texas, hereby certify that we prepared and approved as to legality the attached and
following Ordinance pnor to its passage as aforesmd
City At~orn'ey ,~/
Bond Attorneys