1984-104ORDINANCE NO 84 -/Q~
ORDINANCE DIRECTING THE PUBLICATION OF NOTICE OF INTENTION
TO ISSUE CITY OF DENTON UTILITY SYSTEM REVENUE BONDS,
SERIES 1984-A, IN THE MAXIMUM PRINCIPAL AMOUNT OF
$20,000,000, 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 at least two weeks 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 1984-A, IN THE
MAXIMUM PRINCIPAL AMOUNT OF $20,000,000
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 at 7 00 PM, on September 25, 1984, 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 1984-A, in the maximum
principal amount of $20,000,000, to be secured by and payable
from a first lien on and 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
providing money for improvements and extensions of the afore-
said "System"
CITY OF DENTON, TEXAS"
Section 2 That the City Secretary is directed to issue a
Notice of Sale of Bonds in substantially the following form
OFFICIAL NOTICE OF SALE
CITY OF DENTON, TEXAS
$20,000,000
UTILITY SYSTEM REVENUE BONDS,
SERIES 1984-A
The City Council of the City of Denton, Denton
County, Texas, will receive sealed bids at the
municipal Building (City Hall), 215 E McKinney
Street, in the City of Denton until
7 00 p m , Tuesday, September 25, 1984
for the purchase of
$20,000,000 Uti lit S stem Revenue Bonds, Series
11M-A, to be ate Octo er , 1 84, an to mature
serially December 1 each year 1985 through 2009
Sealed bids, plainly marked "Bid for Bonds", should
be addressed to "Honorable Mayor and City 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
All 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
September 15, 1984, and will be furnished to any
prospective bidder upon request, by First Southwest
Company, 800 Mercantile Dallas Building, Dallas,
Texas 75201, Financial Advisors to the City
The City reserves the right to reject any and all
bids and to waive any and all irregularities
By order of the City Council of the City of Denton,
Texas
CHARLOTTE ALLEN
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