1996-067 0RDINANCEN0 96- ~"~
AN ORDINANCE DIRECTING TI~ 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 Councd of the City of Denton, Texas, deems ~t necessary and adwsable
that the bonds here~nat~er described be authorized, ~ssued, sold, and dehvered
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS
Section I That the C~ty Secretary ~s d~rected to cause the following not,ce to be pubhshed
m the "Denton Record-Chromcle", which ~s a newspaper pubhshed m, and having general c~rculat~nn
m, the C~ty of Denton, on the same day of each of two consecutive weeks, w~th the date of the first
pubhcauon to be on or before April 22, 1996, bern8 at least fit~een (15 days) prior to the date upon
which the C~ty Councd intends to pass the Ordinance described m the following not,ce
"NOTICE OF INTENTION
TO ISSUE CITY OF DENTON UTILITY
SYSTEM REVENUE BONDS, SERIES 1996A
Not,ce ~s hereby g~ven, m accordance w~th law, that the C~ty Council of the C~ty of Denton,
Texas, intends to pass, at a Regular Meeting to be held commencing at 7 00 p m, on May 7, 1996,
at the Mumc~pal Budding (C~ty Hall), an Ordinance authorizing the ~ssuance, sale, and dehvery of an
~ssue of bonds, to be evtdenced tint,ally by a single fully regtstered bond payable m installments, but
convertible ~nto defimt~ve bonds m multiples of $5,000, to be destgnated as "C~ty of Denton Utd~ty
System Revenue Bonds, Series 1996A", m the maximum pnnc~pal amount of $2,750,000, to be
secured by and payable from a first hen on and pledge of the "Pledged Revenues", which "Pledged
Revenues" include uut~ally the "Net Revenues" of the "System", w~th smd "System" ~mt~ally consisting
of the C~ty's entire eyastmg combined waterworks, sanitary sewer, and electric hght and power
system, all as ~ be defined and provided in the aforesaid Ordinance Sa~d bonds will bear interest
from their date at mayamum rates not to exceed fil~een percentum per annum, w~ll be scheduled to
mature serially ~n installments w~thln a maximum of not to exceed thirty years from their date, and
w~ll be subJeCt to redemption prior to maturity, and wdl have such other and further characteristics,
as w~ll be prowded m the aforesaid Ordinance Smd bonds wdl be authorized, ~ssued, sold and
dehvered pursuant to Articles llllb, 1112, 1113, and 1114, Vernon's Annotated Texas C~wl
Statutes, and other apphcable laws, for the purpose of obtaining money for ~mprovements and
extensions of the aforesaid "System"
CITY OF DENTON, TEXAS"
Sectton II That the C~ty Secretary ~s d~rected to ~ssue a Not~ce of Sale of Bonds ~n
substantially the following form
OFFICIAL NOTICE OF SALE
CITY OF DENTON, TEXAS
$2,750,000
UTILITY SYSTEM REVENUE BONDS,
SERIES 1996A
The C~ty Council of the C~ty of Denton, Denton County, Texas, will receive sealed b~ds at the
Mumclpal Braiding (C~ty Hall), 215 E McKmney Street, m the C~ty of Denton untd
7 00 p m, C D T, Tuesday, May 7, 1996
for the pumhase of
$2,750,000 Utility System Revenue Bonds. Series 1996A. to be dated May 1, 1996, and to mature
serially December 1 each year 1997 through 2016
Sealed bids, plainly marked "B~d for Bonds", should be addressed to "Honorable Mayor and C~ty
Council, C~ty of Denton, Texas", and must be submitted on the "Official B~d Form" to be made
available by the City Council prior the date of sale
All sealed bids will be publicly opened and tabulated before the Council
Copies of the "Official Statement", "Not~ce of Sale", and "Official Btd Form" are being prepared and
will be marled to prospective b~dders on or about April 23, 1996, and will be furmshed to any
prospective b~dder upon request, by F~rst Southwest Company, 500 F~rst C~ty Center, 1700 Pacific
Avenue, Dallas, Texas 75201, Financial Advisors to the Cay
The C~ty reserves the right to reject any and all b~ds and to wmve any and all ~rregulanues
By order of the C~ty Council of the C~ty of Denton, Texas
JENNIFER K WALTERS
C~ty Secretary
C~ty of Denton, Texas
Section III That sa~d Notice shall be pubhshed once m The Bond Buyer, New York, New
York, wluch is a national publication regularly and primarily carrying financial news and mumcipal
bond sale notices, and smd Notice also shall be published once in the "Denton Record-Chromcle",
wtuch has been designated as the official newspaper of the City of Denton Said publications shall
be made at least tturty days prior to the day set for recelwng bids
Section IV That flus Ordinance shall become effective immediately upon its passage and
approval
PASSED AND APPROVED tbas the 19th day of March, 1996
ATTEST Bob Castleberry, Mayor / ~
/
Jennifer Walters, City Secretary
APPROVED AS TO LEGAL FORM
Herbert L Prouty, City Attorney
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