1983-032 ORDINANCE NO 83-~
ORDINANCE AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS
THE STATE OF TEXAS
COUNTY OF DENTON
CITY OF DENTON
WHEREAS, the bonds hereinafter authorized were lawfully
and favorably voted at an election duly held in said City on
DECEMBER 11, 1982, and
WHEREAS, at is necessary and advisable to authorize,
issue, and deliver said bonds, and
WHEREAS, the bonds hereinafter authorized and designated
were voted and are to be issued, sold, and delivered pursuant
to Vernon's Ann Tex Civ St Articles 823 and 1175, and the
City's Home Rule Charter.
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS
Section I That the City's negotiable, serial, coupon
bonds are hereby authorized to be issued, sold, and delivered
an the aggregate principal amount of $4,742,000, for the
purpose of the acquisition of property and making improvements
for public purposes in said City, to-wit providing $3,282,000
FOR DRAINAGE IMPROVEMENTS, providing $900,000 FOR RIGHT OF WAY
ACQUISITION AND RECONSTRUCTION OF UNIVERSITY DRIVE, providing
$450,000 FOR TEE CONSTRUCTION OF A NEW FIRE SUBSTATION, and
providing $110,000 FOR ADDITIONAL TRAFFIC CONTROL SIGNALS
Section 2 That said bonds shall be designated as the
"CITY OF DENTON GENERAL OBLIGATION BONDS, SERIES 1983"
Section 3 That said bonds shall be dated MARCH 15, 1983,
shall be an the denomination of $5,000 each, shall be numbered
consecutively from one upward, and shall mature serially on the
maturity date, an each of the years, and in the amounts,
respectively, as set forth in the following schedule
MATURITY DATE MARCH 15
YEARS AMOUNTS yEARS AMOUNTS
1984 $217,000 1994 $250,000
1985 225,000 1995 250,000
1986 225,000 1996 250,000
1987 225,000 1997 250,000
1988 225,000 1998 250,000
1989 225,000 1999 250,000
1990 225,000 2000 250,000
1991 225,000 2001 250,000
1992 225,000 2002 250,000
1993 225,000 2003 250,000
Section 4 That the bonds scheduled to mature during the
years, respectively, set forth below shall bear interest at the
following rates per annum
maturities 1984 {o ~o % maturities 1994, ~o%
maturities 1985 /~ oo% maturities 1995,
maturities 1986 /~ oo,% maturities 1996 ~%
maturities 1987 faro% maturities 1997 g o~ %
maturities 1988 f~ 0o% maturities 1998 ~ /~%
maturities 1989 w~.% maturities 1999
maturities 1990 77~ maturities 2000
maturities 1991 ~oe % maturities 2001 q~-%
maturities 1992 ~% maturities 2002 ~'%
maturities 1993 ~ % maturities 2003
Said interest shall be evidenced by 1nterest coupons which
shall appertain to said bonds, and which shall be payable ~n
the manner provided and on the dates stated ~n the FOPS4 OF BOND
set forth in this Ordinance
Section 5 That said bonds and interest coupons shall be
~ssued, shall be payable, may be redeemed prior to their
scheduled maturities, shall have the characteristics, and shall
be signed and executed (and said bonds shall be sealed), all as
provided, and in the manner indicated, in the FORM OF BOND set
forth in this Ordinance
Section 6 That the form of said bonds, ~ncluding the
form of Registration Cert~ficate of the Comptroller of Public
Accounts of the State of Texas to be printed and endorsed on
each of said bonds, and the form of the aforesaid interest
coupons which shall appertain and be attached lnltlally to each
of said bonds, shall be, respectively, substantially as fol-
lows
FORM OF BOND
NO $5,000
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF DENTON
CITY OF DENTON
GENERAL OBLIGATION BOND
SERIES 1983
ON MARCH 15, , THE CITY OF DENTON, in Denton County,
Texas, hereby proml~ to pay to bearer hereof the prlncipal
amount of
FIVE THOUSAND DOLLARS
and to pay interest thereon, from date hereof, at the rate of
% per annum, evidenced by interest coupons payable MARCH
· ~-~984, and semiannually thereafter while this bond is
outstanding
THE PRINCIPAL of this bond and the interest coupons
appertaining hereto shall be payable to bearer, in lawful money
of the United States of America, without exchange or collection
charges to the bearer, upon presentation and surrender of this
bond or proper interest coupon, at the following, which shall
constitute and be defined as the "Paying Agent", for th~s
Series of bonds
TEXAS AMERICAN BANK FORT WORTH, N A , FORT WORTH TEXAS,
OR, AT THE OPTION OF THE BEARER, AT
FIRST STATE BANK OF DENTON, DENTON, TEXAS
THIS BOND ls one of a Serles dated as of MARCH 15, 1983,
authorized, issued, and delivered in the principal amount of
$4,742,000 for the purpose of the acquisition of property and
making improvements for publlc purposes ~n said City, to-wit
providing $3,282,000 FOR DRAINAGE IMPROVEMENTS, providing
$900,000 FOR RIGHT OF WAY ACQUISITION AND RECONSTRUCTION OF
UNIVERSITY DRIVE, providing $450,000 FOR THE CONSTRUCTION OF A
NEW FIRE SUBSTATION, and providlng $110,000 FOR ADDITIONAL
TRAFFIC CONTROL SIGNALS
ON MARCH 15, 1993,
or on any interest payment date thereafter, any outstanding
bonds of this Series may be redeemed prior to their scheduled
maturltles, at the option of said City, in whole, or ~n part,
for the principal amount thereof and accrued interest thereon
to the date fixed for redemptlon At least thirty days prior
2
to the date fixed for any such redemption said City shall cause
a written notice of such redemption to be published at least
once in a financial publication published in the City of New
York, New York By the date fixed for any such redemption due
provision shall be made with the "Paying Agent" for the payment
of the principal amount of the bonds which are to be so re-
deemed and accrued interest thereon to the date fixed for
redemption If such written notice of redemption is published
and if due provision for such payment ~s made, all as provided
above, the bonds which are to be so redeemed thereby automati-
cally shall be redeemed prior to their scheduled maturities,
and they shall not bear interest after the date f~xed for
redemption, and they shall not be regarded as being outstanding
except for the right of the bearer to receive the redemption
price from the "Paying Agent" out of the funds provided for
such payment
IT IS HEREBY certified, recited, and covenanted that this
bond has been duly and validly voted, authorized, issued, and
delivered; that all acts, conditions, and things required or
proper to be performed, exist, and be done precedent to or in
the voting, authorization, issuance, and delivery of this bond
have been performed, existed, and been done in accordance with
law, that this bond is a general obligation of said City,
issued on the full faith and credit thereof, and that annual ad
valorem taxes sufficient to provzde for the payment of the
· nterest on and principal of this bond, as such interest comes
due and such principal matures, have been levied and ordered to
be levied against all taxable property in said City, and have
been pledged irrevocably for such payment, within the limit
prescribed by law
IN WITNESS WHEREOF, this bond and the interest coupons
appertaining hereto have been signed with the facslmile signa-
ture of the Mayor of said City and countersigned with the
facsimile signature of the City Secretary of said City, and the
official seal of said City has been duly impressed, or placed
in facsimile, on this bond
xxxxxxxx xxxxxxxx
City Secretary, City of Denton Mayor, City of Denton
FORM OF REGISTRATION CERTIFICATE
COMPTROLLER' REGISTRATION CERTIFICATE REGISTER NO
I hereby certify that this bond has been examined, cert~-
fled as to validity, and approved by the Attorney General of
the State of Texas, and that this bond has been registered by
the Comptroller of Public Accounts of the State of Texas
Witness my signature and seal this
XXXXXXXX
Comptroller of Public Accounts
of the State of Texas
FORM OF INTEREST COUPON
NO
ON 15, ,
THE CITY OF DENTON, in Denton County, Texas, promlses to
pay to bearer the amount shown on this interest coupon,
lawful money of the United States of America, without exchange
or collection charges to the bearer, unless due provision has
been made for the redemption prior to scheduled maturity of the
bond to which this interest coupon appertains, upon presenta-
tion and surrender of this interest coupon, at
3
TEXAS AMERICAN BANK FORT WORTH, N A , FORT WORTH, TEXAS,
OR, AT THE OPTION OF THE BEARER, AT
FIRST STATE BANK OF DENTON, DENTON, TEXAS,
sald, amount being interest coming due that day on the bond,
bearing the number hereinafter designated, of that ~ssue of
CITY OF DENTON GENERAL OBLIGATION BONDS, SERIES 1983, DATED
MARCH 15, 1983 Bond No.
xxxxxxxx xxxxxxxx
City Secret&fy Mayor
Section 7. That a special "Interest and S~nk~ng Fund" ~s
hereby created solely for the benefit of said bonds, and said
Interest and S~nking Fund shall be established and maintained
by said City at an official depository bank of said City Sa~d
Interest and Sinking Fund shall be kept separate and apart from
all other funds and accounts of said C~ty, and shall be used
only for paying the interest on and principal of said bonds
All ad valorem taxes levied and collected for and on account of
said bonds shall be deposited, as collected, to the credit of
said Interest and Sinking Fund During each year while any of
said bonds or interest coupons appertaln~ng thereto are out-
standing and unpaid, the governing body of said City shall
compute and ascertain a rate and amount of ad valorem tax which
will be sufficient to raise and produce the money required to
pay the interest on said bonds as such interest comes due, and
to provide and maintain a sinking fund adequate to pay the
principal of such bonds as such principal matures (but never
less than 2% of the original principal amount of said bonds as
a sinking fund each year), and said tax shall be based on the
latest approved tax rolls of said City, w~th full allowance
being made for tax delinquencies and the cost of tax collec-
tion Said rate and amount of ad valorem tax ~s hereby lev~ed,
and ~s hereby ordered to be lev~ed, against all taxable proper-
ty in said City for each year while any of said bonds or
lnterest coupons appertaining thereto are outstanding and
unpaid; and said tax shall be assessed and collected each such
year and deposited to the credlt of the aforesaid Interest and
S~nking Fund Said ad valorem taxes sufflc~ent to provide for
the payment of the interest on and principal of said bonds, as
such interest comes due and such principal matures, are hereby
pledged irrevocably for such payment, within the limit pre-
scribed by law
Section 8. That the Mayor of said City is hereby author-
ized to have control of said bonds and all necessary records
and proceedings pertaining to sa~d bonds pending their delivery
and their investigation, examlnat~on, and approval by the
Attorney General of the State of Texas, and their registration
by the Comptroller of Public Accounts of the State of Texas
Upon registration of said bonds, sa~d Comptroller of Public
Accounts (or a deputy designated in writing to act for said
Comptroller) shall manually sign the Comptroller's Registration
Certificate printed and endorsed on each of said bonds, and the
seal of said Comptroller shall be ~mpressed, or placed in
facsimile, on each of sa~d bonds
Section 9 That the City covenants to and with the
purchasers of the bonds that ~t w~ll make no use of the
proceeds of the bonds at any time throughout the term of th~s
· ssue of bonds which, if such use had been reasonably expected
on the date of delivery of the bonds to and payment for the
bonds by the purchasers, would have caused the bonds to be
arbltrage bonds within the meaning of Section 103(c) of the
Internal Revenue Code of 1954, as amended, or any regulations
or rulings pertaining thereto; and by this covenant the City is
obligated to comply with the requirements of the aforesaid
Section 103(c) and all applicable and pertinent Department of
the Treasury regulations relating to arbitrage bonds The C~ty
further covenants that the proceeds of the bonds w~ll not
4
otherwise be used directly or indirectly so as to cause all or
any part of the bonds to be or become arbitrage bonds within
the meaning of the aforesaid Section 103(c), or any regulations
or rulings pertaining thereto
Section 10 That it is hereby officially found and
determined that a case of emergency or urgent public neces-
sity exists which requires the holding of the meeting at which
this Ordinance is passed, such emergency or urgent public
necessity being that the proceeds from the sale of said bonds
are required as soon as possible and without delay for neces-
sary and urgently needed public improvements, 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 Vernon's Ann Clv St Article 6252-17
Section 11. That said bonds are hereby sold and shall be
delivered to ~W~F~ ~.~ ,
for cash for the par value thereof and accrued interest thereon
to date of delivery, plus a premium of $ ~o~ It is hereby
off~cially found, determined, and declare--a-~sald bonds have
been sold at public sale to the bidder offering the lowest
interest cost, after receiving sealed bids pursuant to an
Official Notice of Sale and Official Statement dated March 4,
1983, prepared and distributed in connection with the sale of
said bonds. Said Official Notice of Sale and Official State-
ment, and any addenda, supplement, or amendment thereto have
been and are hereby approved by the City Council, and their use
in the reofferlng of the bonds by the purchasers is hereby
approved. It is further officially found, determined, and
declared that the statements and representations contained in
said Official Notice of Sale and Official Statement are true
and correct in all material respects, to the best knowledge and
belief of the City Council
5
C=~a'IFICATE FOR
O~DINANC~ AUTHOBIZING THE ISSUANCE OF G~NERAL OmT~!GATICN BONDS
~E STATE OF
We, the undersigned offioere o~ said C~.ty, hereby certify as follows
1The City Council of said City convened ~n
SPECIAL ~.:.:L'~NG (1~ THE 22~ DAY OF MARCH, 1983,
at the M~/%iclpal Build/ng (City Hall), and the roll was called of the duly
constlt~ted officers and m~bers of said City Councll, t~-Wlt
Charlotte Allen, City Secree-~y Richard 0 Stewart, Mayor
Mark R. Chew Dr A Pay Stephens, Maypr Pro Ten
Jack Barton Jun Riddlespe~-ger
Charles Hopk/ns Joe G. Alford
and all of sald persons were present, e~cept the following absentees
, thus constituting a quoman.
Whereupon, ~Dng other b~siness, the following was transacted at said Meeting
a written
O~DINANCE ~ZING T~E ISSUANCE OF G~PAL OBLIGATIC~ BONDS
was duly introd//ced for the co~sideratic~ of said City Council and duly read
It was then duly ra~ved and seconded that said Ordinance be passed, and, after
due dis~/ssicn, said n~tion, carrying with at the passage of said Ordinance,
prevalled and carried by the following vote
AYESAil members of said City Council
shown present above voted "Aye"
2. That a true, f~ll, and correct copy of the aforesaid Ordinance passed
at the Meet/rig described in the above and foregoing paragraph is attached to
and follows this Certificate, that
said C~ty Council's m/~/tes of said Meeting, that the above and foregoing
paragraph is a true, f~ll, and correct excerpt frc~ said C~ty Council's
minutes of said Meeting pere-~ning to the passage of said Ordinance, that the
persons named in the above and foregoing paragraph are the duly chosen,
qualified, and actir~ officers and ~-bers of said City Council as indicated
therein; that each of the officers and members of sa~d City Council was duly
and sufflclently notified officially and personally, in advance, of the t/me,
place, and purpose of the aforesaid Meeting, and that said Ordinance would be
introduced anxi consldered for passag~ at said ~L=eting, and that said Meet_u~
was open to the public, and public notice of the time, place, aD~ purpose of
said meet/rig was given, all as required by Vernon's Ann Civ St Article
6252-17
3 That the Mayor of said City bas approved, and hereby approves, the
aforesaid Ordinance, that the Mayor and the City Secretary of said City have
duly signed said Ord/nance; and that th~ Mayor and the C~ty Secretary of said
City hereby ~.],ve that their signmag of this Certificate shall constitute
the slgnlng of the attached and following copy of said Ordinance for all
purposes
SI~D A~ SE~?.~n the 22nd day of March, 1983.
I~-~ .............................
We, the undersigned, being respectively the C~ty Attorney and the Bond
Attorn~s of the City of Denton, Texas, hereby certlfy that we prepared and
approved as to legallty the attached and following Ordinance prior to lts
Bond Attornoys '
CERTIFICATE OF SECRETARY
THE STATE OF TEXAS §
COUNTY OF DENTON §
I,, the undersigned, City Secretary of the City of
Denton, Texas, DO HEREBY CERTIFY that according to the
records of the City of Denton, of which I am custodian,
that
1 The attached Resolution is a true and correct copy
of a resolution adopted by the governing body of
the City of Denton at a regular meeting on the
15th day of March, 1983
2 At such meeting
(a) a quorum of governing body was, present on
said date of adoption, in that ~9 members
of said governing body were in attendance at
such meeting when the question of the
adoption of the resolution was called for and
placed to a vote, and
(b) ~ members of said governing body voted
for the adoption of such resolution and (3
members of sa~d governing body voted against
its adoption and d) members abstained from
voting, and
(c) the said Resolution was adopted only after a
motion was made that the same be adopted and
the seconding of such motion, and
3 Prior to such meeting
( a ) notice of the time, pl ace, subject and
purpose of the meeting has been duly given in
the time, form and manner required by the
provisions of Section 3A, Article 6252-17,
VATC S
(b) actual not~ce of the time, place, subject and
purpose of the meeting had been given to each
member of the governing body of the City, and
4 The officers and members of the governing body of
the City of Denton of the time of the passage of
such resolution were
RICHARD O STEWART MAYOR
MARK CHEW §
JACK BARTON §
CHARLES HOPKINS § COUNCILMEMBERS
DR RAY STEPHENS §
JIM RIDDLESPENGER §
JOE ALFORD §
TO CERTIFY WHICH, witness my official signature and the
Seal of the City of Denton, this the ~$~day of March,
1983
CHARLOTTE ALLEN, cit~- Secretary
CITY OF DENTON, TEXAS
[ SEAL ]
LAW OFF(CES
M(;CALL, PARKHURST ~, HORTON
March 22, 1983
Honorable Mayor and Council of
the City of Denton
Denton, Texas
Gentlemen
City of Denton General Obligation
Bonds, Series 1983, $4,742,000
In compliance with Section 9 02 and Section 9 04 of the
City Charter of the C~ty of Denton, you are advised that the
bids for the captioned ~ssue of bonds have been tabulated and
that we find that the bid of a syndicate managed or headed by
the following
with the bonds to bear interest at the rates therein specified,
with such b~dder to pay par and accrued ~nterest to date of
delivery for said bonds, plus a premium of $ -o- , is the
lowest and best bid received, and we recommend that ~t be
accepted
We further certify that we have examined the ordlnance
presently placed before the Mayor and Council for the purpose
of authorizing the issuance of said bonds, and, in our oplnlon,
the said proposed bond ordlnance is legal, and the bonds to be
issued thereunder will be general obligations of the City
payable from ad valorem taxes levied against all taxable
property in the City, and pledged ~rrevocably for such payment,
w~thln the limit prescribed by law
Respectfullv,
McCALL, PARKHURST & HORTON
Thomas K Spurgeon
OFFICIAL BID FORM
Honorable Mayor and City Council March 22 1983
Clty of Denton
Denton, Texas
Gentlemen
Reference is made to your Official Statement and Notice of Sale and Biddln9 Instructions dated
March 4, 1983 of $4,742 000 CITY OF DENT0N TEXAS GENERAL OBLIGATION DONDS SERIES 1983 both
of which constitute a part hereof
For your legally issued Bonds as described in said Notlce of Sale and Bidding Instructions and
Official Statement, we will pay you par and~ccrued interest from date of issue to date of
dehvery to us plus a cash premium of $ ~C~ -- for Bonds maturing and bearing interest
as follows
Interest Interest Interest
Maturity Rate Maturity Rate Maturity Rate
3 15 1984 /~% 3-15-199I ~% 3-15 1997
Our calculation (which ]s not a part of this bid) of the interest cost from the above is
Total Interest Cost $~ ~OCf~ g~
Less Premium ~ 0
We are having the Bonds insured by
C~h~ ~ Check of the ~pub~lcB~ Dallas Bank Dallas, Texas
in the amount of $94,840 O0 which represents our Good Faith Deposit (ts attached hereto~ or
~~4{~S~-)~-~ ~p~--t;~-~ and ts submitted in
accordance with the terms as set forth in the Official Statement and Not~ce of Sale and Blddi.g
Instructions
We agree to accept delivery of and make pa~ent for the Bonds at ~~8~_
Austin Texas not later than 10 ~ ~ CST on April 26 1983 or thereafter on the date the
Bonds are tendered for delivery pursuant to the terms set forth ~n the Notice of Sale and
Bidding Instructions
Respectful)y submitted,
RepublicBank Dalla~ N A
ACCEPTANCE CL~lie F Parrtsh, Vice President
The above and foregoing bid is hereby tn all things accepted by the Clt~of Denton T~as this~
the 22nd d~ of.arch, 1983 ~/ In.A~
Return of Good Faith Deposit is hereby acknowledged
By
OFFICIAL BID FORM
Honorable Mayor and City Council March 22 1983
Clty of Denton
Denton Texas
Gentlemen
Reference is made to your Official Statement and Notice of Sale and Bidding Instructions dated
March 4~ 1983 of $4 742 000 CITY OF DENTON TEXAS GENERAL OBLIGATION BONDS SERIES 1983 both
of which constitute a part hereof
For your legally issued Bonds as described in said Notice of Sale and B~ddlng Instructions and
Official Statement we will pay you par and accrued ~nterest from date of issue to date of
delivery to us plus a cash premium of $ =0- for Bonds maturing and bearing interest
as follows
Interest Interest Interest
Maturity Rate Maturity Rate Maturity Rate
3 15 1984 10o50% 3-15 1991 8.00 % 3 15 1997 9.00 %
3 15 1985 ]0.~0~ 3-15-1992 R.?~ % 3 15-1998 9,~ %
3-15-1986 10_~% 3-15-1993 ~_~ % 3 15 1999 9_~0 %
3 15 1987 10 50% 3-15-1994 8 50 % 3 15-2ooo 9 35
3-15 1988 10 50% 3 15-1995 8.70 ~ 3-15 2001 9.40
3 15 1989 10 50% 3-15 1996 8 85 % 3 15 2002 9 O0
3 15 1990 7 75 % 3 15 2oo3 9,00
Our calculation (which is not a part of this bid) of the interest cost from the above
Total Interest Cost $ 4,625.647 50
Less Premium -O-
NET INTEREST COST $ 4,625,647 50
EFFECTIVE INTEREST RATE 9.049137
We are having the Bonds ~nsured by
Check of the _F~f_N~lonal Bank Austmn~ Tx
~n the amount of $94 840 O0 which represents our ~oo~'Faith Deposit (~W~b~(~)~Z~I~J~ or
(has been made available to you prior to the opening of th~s bid) ~U-)~-s~mitted ~n
accordance with the terms as set forth in the Official Statement and Notice of Sale and Bidding
Instructions
We agree to accept delivery of and make payment for the Gonds at ~z~st Czt¥ ~at Bank
Austi% Texas not later than 10 O0 AM, CST on April 26 1983 or thereafter on the date the
Bonds are tendered for delivery pursuant to the terms set forth m the Notice of Sale and
B~dding Instructions
Respectfully submitted
By ~.~/~/ Authorlze~ Representat~-~ve
Walter Schleyer
ACCEPTANCE CLAUSE
The above and foregoing bid ~s hereby in ail things accepted by the City of Denton Texas this
the 22nd day of March 1983
Mayor
ATTEST
City Secretary
Return of Good Faith Deposit ~s hereby acknowledged
By
$4,742,000 CITY OF DglfTO;, TEXAS
General OblLsstio~ Bonds, Series 1983
Seller Tuesday, 14arch 22, 1983
Texan Au~r~can Sank, Fort ~orch
8h~ro~/~r~n ~reoo ~nc
K~er, Peabo~ ~ Co , I~o~ora~ed
G;eer ~rohnd Food~k S~pherd,
Wes~cap Secur~es Co~p
~N ASSOCIATION
~;rill ~h ~te ~eld ~p~al ~rkets Grip, Jt
~pler, G~F~n & ~e~, ~nc
OFFICIAL BID FORM
~onorable Mayor and City Council March 22 1983
C~ty of Denton
Denton Texas
Gentlemen
Reference is made to your Official Statement and Notice of Sale and Bidding Instructions dated
March 4 1983 of $4,742 000 CITY OF DENTON TEXAS GENERAL OBLIGATION BONDS SERIES 1983 both
of which constitute a part hereof
For your legally issued Bonds as described in said Notice of Sale and Bidding Instructions and
Official Statement we will p~ you par a~d accrued interest from date of issue to date of
delivery to us plus a cash premium of $ -U.- for Bonds maturing and beanng interest
as follows
Interest Interest Interest
Maturity Rate Maturity Rate Maturity Rate
3 15 1984 10 50% 3-15-199I 8.00 % 3-15 1997
3 15 1985 10 50% 3-15 1992 ~_~__% 3 15 1998
3 15-1986 10 50% 3 15-1993 8.40 % 3 15-1999
3 15 1987 10 50% 3 1B-lgg4 8 60 % 3-15-2000 9.25
3 15 1988 10 50% 3-15 1995 8.80 % 3 15 2001
3-15-1989 7 50 % 3-15-1996 g.Oh % 3 15-2002 9.95 %
3 15 1990 7 70 % 3 15 2003 ~,2~5__%
Our calculation (which is not a part of this bid) of the interest cost from the above is
Total Interest Cost $ 4:612:
Less Premium -0
NET INTEREST COST $ 4,612,860.Q0 _
EFFECTIVE INTEREST RATE 9 024121
We are having the Bonds insured by
Cashiers Check of the F~rst City National Bank Austln
in the amount of $94 840 O0 whlch represents our Good Faith Deposit ~4~',~:~49 or
(has been made available to you prior to the opening of this bid) and
accordance with the terms as set forth in the Offictal Statement and Notice of Sale and Bidding
Instructions
We agree to accept delivery of and make payment for the Bonds at Fzrst Clt¥ NatlBank
Austin Texas not later than 10 O0 AM CST on April 26 1983 or thereafter on the date the
Bonds are tendered for de]ivery pursuant to the terms set forth in the Notice of Sa]e and
Bidding Instructions
Respectfully submtted
see attached
ACCEPTANCE CLAUSE
Return of Good Faith Deposit is hereby acknowledged
By
$4,742,000 CITY OF DENTON, TEXAS GENERAL OBLIGATION BONDS, SERIES 1983
Respectfully submitted,
C&C Southwest
First City Natlonal Bank Houston
A G Becker
BancTexas Dallas
Capital Bank Houston
E F Hutton
First Southwest Company
Rotan Mosle
OFFICIAL BID FORM
Honorabl~ Mayor and C~ty Council March 22 1983
City of Denton
Denton Texas
Gentlemen
Reference is made to your Official Statement and Notice of Sale and Bidding Instructmns dated
March 4 1983 of $4 742 000 CITY OF DENT0N TEXAS GENERAL OBLIGATION BONDS SERIES 1983 both
of which constitute a part hereof
For your legally lssued Bonds as described in sa~d Notice of Sale and B~ddlng Instructions and
Official Statement we will pay you par ~a~ ued ~nterest from date of issue to date of
delivery to us plus a cash premium of $ £&/ a~r for Bonds maturing and bearing interest
as follows
Interest Interest Interest
Maturlty Rate Maturity Rate Maturity Rate
3 15 1984 8 50 % 3-15 1991 8 O0 % 3 15 1997 9 30
3-15-1985 8 50 % 3-15-1992 8 25 % 3-15 1998 9 40
3-15 1986 8 50% 3 15-1993 8 50% 3-15 1999 9 50%
3 15 1987 8 50% 3 15-1994 8 75% 3-15-2000 9 50%
3 15 1988 8.50% 3-15-1995 9 00% 3 15 2OOl 9 60%
3 15 1989 ~.50% 3 15 1996 ~,10% 3 15 2002 9 60%
3 15 1990 8. ?5% 3 15-2003 9 60%
Our calculation (which is not a part of this bid) of the interest cost from the above is
Total Interest Cost $ 4,669,320 O0
Less Premium 117 50
NET INTEREST COST $ 4,669,202 50
EFFECTIVE INTEREST RATE 9 1343
We are having the Bonds ~nsured by
ca~h~e~$ Check of the ~t State Bank De~to~
in the amount ~40 O0 which represents our Good Faith Deposit (is attached heretol or
(has been made available to you prior to the opening of this b~d) and ~s submitted ~n
accordance with the terms as set forth in the Official Statement and Not~ce of Sale and B~dd}ng
Instructions
We agree to accept delivery of and make paj~nent for the Bonds at to be de~±~n~te~ank
Austin Texas not later than 10 O0 AM CST on April 26 1983 or thereafter on the date the
Bonds are tendered for delivery pursuant to the terms set forth in the Notice of Sale and
Bidding Instructions
Respectfully submtted
s^ o.o.
~ ,~u~horJJed Representative
/ J~'mes McCullough, Vice President
ACCE~ANC8 C/AUSE Municipal Bond Department
The above and foregoing b~d is hereby in a~ngs accepted by the City of Denton Texas this
the 22nd day of March 1983
Mayor
ATTEST
City Secretary
Return of Good Faith Deposit is hereby acknowledged
By
OFFICIAL-BID FORM
Honorable Mayor and City Council March 22 1983
City of Denton
Denton, Texas
Gentlemen
Reference is made to your Official Statement and Notice of Sale and Bidding Instructions dated
March 4, 1983 of $4 742 000 CITY OF DENTON TEXAS GENERAL OBLIGATION BONDS SERIES 1983 both
of which constitute a part hereof
For your legally issued Bonds as described in said Notice of Sale and Bidding Instructions and
Official Statement, we will p~ you par~ap$l ~c6rued interest from date of issue to date of
delivery to us plus a cash premium of $ .L/ for Bonds maturing and bearing interest
as follows
Interest Interest Interest
Maturity Rate Maturity Rate Maturlt~ Rate
3-15 1984 10 70% 3-15-1991 8 00% 3 15 1997 9 00 %
3 15-1985 10 70% 3 15-1992 8 15% 3 15 1998 9 10 %
3-15 1986 10 70% 3 15-1993 8 30% 3 15-1999 9 20
3 15 1987 10.70% 3-15 1994 8 50% B 15 200O 9 30
3-15 1988 ]0.~5% 3-15-1995 8 70 % 3 15-2001 9 40
3 15 1989 7 70% 3-I5 1996 8 85% 3-15 2002 9 40
3-15-1990 7.70% 3 15-2003 9 40
Our calculation (which is not a part of this bid) of the interest cost from the above is
Total Interest Cost $ 4,620,969 O0
Less Premium 17 90
NET INTEREST COST $ 4,620,951 10
EFFECTIVE INTEREST RATE 9 0399
We are having the Bonds insured by
Cashier's Check of the InterFirst Bank Bank Dallas, N~A,
in the amount of $94 840 00 which re~resents our Good Faith Depos]t (is attached hereto}~r
(hy~X~K~X~K~{~Y~XY~{~X~X~X~)~]gX)~X~X and 1s submitted in
accordance with the terms as set forth in the Official Statement and Not]ce of Sale and Bidding
Instructions
We agree to accept delivery of and make payment for the Bonds at City Nat ional~ank
Austin, Texas, not later than 10 O0 AM CST on April 26 1983 or thereafter on the date the
Bonds are tendered for dehvery pursuant to the terms set forth m the Notice of Sale and
Bidding Instructions
Respectfully submitted
InterFirst Bank Dallas~ N,A Bank of Oklahoma:
Texas Commerce Bank, N,A, //~,~. z/~.,.~
Dean Witter Reynolds By '~/ ~utbd~tz~'8 Reorese~tatf~'
gchnelder, Bernet & Hlckman Mary ^n~K~r~y, a~s~ Vice President
ACCEPTANCE CLAUSE
The above and foregoing bid is hereby in all things accepted by the City of Denton Texas this
the 22nd day of March 1983
Mayor
ATTEST
City Secretary
Return of Good Faith Deposit ~s hereby acknowledged
By
Prepared By First Southwest Company, 800 Mercantile Dallas Building, Dallas, Texas 7~201
' TABULATION OF BIDS
RECEIVED AT SALE OF
$4,742,000
CITY OF DENTON, TEXAS
GENERAL OBLIGATION BONDS, SERIES 1983
Selling Tuesday, March 22, 1983, at 7 O0 PM, CST
moss Ess
ACCOUNT MANAGER ,NTEREST COST PREb4iUM ,NTEREST COST iNTEREST RATE