1992-022 ORDINANCE N0.92 -~-
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
THE STATE OF TEXAS
COUNTY OF DENTON
CITY OF DENTON
WHEREAS, the City Council of the City of Denton, Texas,
deems it necessary and advisable that the bonds hereinafter
described be authorized, issued, sold, and delivered
THE COUNCIL OF THE CITY OF DENTON ORDAINS
Section 1 That the City Secretary is directed to cause
the following notice to be published In the "Denton Record-
Chronicle", which is a newspaper published in, and having
general circulation in, the City of Denton, on the same day of
each of two consecutive weeks, with the date of the first
publication to be on or before February 17, 1992, being at
least fifteen (15 days) prior to the date upon which the city
Council intends to pass the Ordinance described in the
following notice
"NOTICE OF INTENTION
TO ISSUE CITY OF DENTON UTILITY
SYSTEM REVENUE BONDS, SERIES 1992
Notice is hereby given, in accordance with Article 2368a,
Vernon's Annotated Texas Civil Statutes, that the City Council
of the City of Denton, Texas, intends to pass, at a Regular
Meeting to be held commencing at 7 00 p m , on March 3, 1992,
at the Municipal Building (City Hall), an Ordinance authorizing
the issuance, sale, and delivery of an issue of bonds, to be
evidenced initially by a single fully registered bond payable
in installments, but convertible into definitive bonds in
multiples of $5,000, to be designated as "City of Denton
Utility System Revenue Bonds, Series 1992", in the maximum
principal amount of $4,500,000, to be secured by and payable
from a first lien on end pledge of the "Pledged Revenues",
which "Pledged Revenues" include initially the "Net Revenues"
of the "System", with said "System" initially consisting of the
City's entire existing combined waterworks, sanitary sewer, and
electric light and power system, all as will be defined and
provided in the aforesaid Ordinance Said bonds will bear
Interest from their date at maximum rates not to exceed fifteen
percentum per annum, will be scheduled to mature serially in
installments within a maximum of not to exceed thirty years
from their date, and will be subject to redemption prior to
maturity, and will have such other and further characteristics,
as will be provided in the aforesaid Ordinance Said bonds
will be authorized, issued, sold and delivered pursuant to
Articles 1111b, 1112, 1113, and 1114, Vernon's Annotated Texas
Civil Statutes, and other applicable laws, for the purpose of
obtaining money for Improvements and extensions of the afore-
said "System"
CITY OF DENTON, TEXAS"
Section 2 That the City Secretary ls directed to issue a
Notice of Sale of Bonds in substantially the following form
OFFICIAL NOTICE OF SALE
CITY OF DENTON, TEXAS
UTILITY SYSTEM REVENUE BONDS,
SERIES 1992
The City Council of the City of Denton, Denton
County, Texas, will receive sealed bids at the
Municipal Building (City Hall), 215 E McKlnney
Street, ~n the City of Denton until
7 00 p m , Tuesday, March 3, 1992
for the purchase of
$4.500.000 Utility System Revenue Bonds. Series
1992, to be dated March 1, 1992, and to mature
serially December 1 each year 1995 through 2014
Sealed bids, plainly marked "Bid for Bonds", should
be addressed to "Honorable Mayor and c~ty Council,
city of Denton, Texas", and must be submitted on
the "official Bid Form" to be made available by the
City Council prior the date of sale
Ail sealed bids will be publicly opened and tabu-
lated before the Council
Copies of the "Official Statement", "Notice of Sale",
and "official Bid Form" are being prepared and will
be mailed to prospective bidders on or about February
18, 1992, and will be furnished 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 rlght to reject any and all
bids and to walve any and all irregularities
By order of the city Council of the city of Denton,
Texas
JENNIFER K WALTERS
city Secretary
city of Denton, Texas
Said Notice shall be published once in The Bond Buyer, New
York, New York, which is a national publication regularly and
primarily carrying financial news and municipal bond sale
notices, and said Notice also shall be published once in the
"Denton Record-Chronicle", which has been designated as the
official newspaper of the City of Denton Said publications
shall be made at least thirty days prior to the day set for
receiving bids
CERTIFICATE FOR
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
THE STATE OF TEXAS
COUNTY OF DENTON
CITY OF DENTON
We, the undersigned officers of said City, hereby certify
as follows
i The city Council of said city convened in
REGULAR MEETING ON THE 21ST DAY OF JANUARY, 1992,
at the Municipal Buildlng (city Hall), and the roll was called
of the duly constituted officers and members of said city
Council, to-wit
Jennifer K Walters, City Secretary Bob Castleberry, Mayor
Mark Chew John Trent
Jane Hopkins Jim Alexander
Harold Perry Margaret Smith
and all of s~..p~rso.~_.w~e present, except the following
absentees ~_~4~_, ~_~J~2~M~9 ,
thus =onstit~yng a ~uor~m' Whereupon, among other business,
the followlng%/was transacted at said Meeting a written
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
was duly introduced for the consideration of said city Council
and duly read It was then duly moved and seconded that said
Ordinance be passed, and, after due discussion, said motion,
carrying with it the passage of said ordinance, prevailed and
carried by the following vote
AYES ~
NOES ~
ABSENTIONS ~
2 That a true, full, and correct copy of the aforesaid
Ordinance passed at the Meeting described in the above and
foregoing paragraph is attached to and follows this
Certificate, that said Ordinance has been duly recorded in said
City Council's minutes of said Meeting, that the above and
foregoing paragraph is a true, full, and correct excerpt from
said City Council's minutes of said Meeting pertaining to the
passage of said Ordinance, that the persons named ~n the above
and foregoing paragraph are the duly chosen, qualified, and
acting officers and members of said City Council as indicated
therein, and that each of the officers and members of said City
Council was duly and sufficiently notified officially and per-
sonally, in advance, of the time, place, and purpose of the
aforesaid Meeting, and that said Ordinance would be introduced
and considered for passage at said Meeting, and that sa~d
Meeting was open to the public, and public notice of the time,
place, and purpose of said meeting was given, all as required
by Vernon's Ann Tex civ St Article 6252-17
3 That the Mayor of said city has approved, and hereby
approves, the aforesaid Ordinance, that the Mayor and the City
Secretary of said City have duly signed said Ordinance, and
that the Mayor and the City Secretary of said C~ty hereby
declare that their signing of this Certificate shall constitute
the signing of the attached and following copy of said Ordi-
nance for all purposes
~~~DII~'~S~ALED as of the 21st~f~
(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 prior to its passage as
aforesaid
Bond Attorneys