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1981-008 ORDINANCE NO 81-0~ ORDINANCE CALLING A BOND ELECTION THE STATE OF TEXAS COUNTY OF DENTON CITY OF DENTON WHEREAS, ~t ls deemed necessary and advisable to call the election hereinafter ordered, and WHEREAS, it is hereby officially found and determined that a case of emergency or urgent public necessity exists which re- quires 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 the proposed bonds are required as soon as possible and without delay for necessary and urgently needed public improvements, and that sa~d meetang 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 THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS 1 That an election shall be held on FEBRUARY 28, 1981, an said City at the following designated pollang place THE COMMUNITY BUILDING IN THE CIVIC CENTER Said City shall constltute a single elect~on precinct for said election, and the following election officers are hereby appoint- ed to hold said election Presiding Judge Lee Knox Alternate Presiding Judge Robert E Mailer 2 That the Presiding Judge shall appoint not less than two quallfled election clerks to serve and assist in conducting said electlon, provided that if the Presadlng Judge actually serves as expected, the Alternate Presld~ng Judge shall be one of such clerks 3 That by approvxng and slgnlng thxs Ordmnance the Mayor of sald City offzclally confirms bls appointment of the aforesaid election offlcers to serve at said electzon, and by passzng thas Ordinance the governlng body of said City approves and concurs in the appozntment of the aforesaad election offacers 4 That all resident, qualified electors of the City shall be entltled to vote at said e!ectlon 5 That notice of said electaon shall be given by postlng a substantial copy of this Ordinance at the City Hall and at three other public places in said City, not le§s than 15 days prior to the date set for saad electzon, and a substantaal copy of this Ordinance also shall be publashed on the same day in each of two successive weeks an a newspaper of general clrculatxon published in said City, the date of the first publm- cation to be not less than 14 days prmor to the date set for sald electzon -1- 6 That at said election the following PROPOSITIONS shall be submitted an accordance with law PROPOSITION NO 1 Shall the City Council of the City of Denton be authorized to issue the bonds of said City, an one or more series or issues, an the aggregate principal amount of $4,700,000, with the bonds of each such series or issue, respectively, to mature serially with- an not to exceed forty years from their date, and to be sold at such prices and bear interest at such rates, not to exceed the maximum rates permitted by law, as shall be determined within the discretion of the City Council, for the purpose of the acquisition of proper- ty and making improvements for public purposes, to-wit rebuilding, repaying, or overlaying streets an said City, and shall said City Council be authorized to levy and cause to be assessed and collected annual ad valorem taxes in an amount sufficient to pay the annual 1nterest on said bonds and provide a sinking fund to pay said bonds at maturity? PROPOSITION NO 2 Shall the City Council of the City of Denton be authorized to issue the bonds of said City, an one or more series or issues, in the aggregate principal amount of $1,300,000, with the bonds of each such series or issue, respectively, to mature serially with- an not to exceed forty years from their date, and to be sold at such prices and bear interest at such rates, not to exceed the maximum rates permitted by law, as shall be determined within the discretion of the City Council, for the purpose of the acquisition of proper- ty and making improvements for public purposes, to-wit rebuilding street intersections 1n sa~d C~ty, and shall said City Council be authorized to levy and cause to be assessed and collected annual ad valorem taxes an an amount sufficient to pay the annual ~nterest on said bonds and provide a sinking fund to pay said bonds at maturity? PROPOSITION NO 3 Shall the C~ty Council of the City of Denton be authorized to issue the bonds of sa~d City, 1n one or more series or issues, in the aggregate principal amount of $850,000, with the bonds of each such series or issue, respectively, to mature serially with- in not to exceed forty years from their date, and to be sold at such prices and bear interest at such rates, not to exceed the maximum rates permitted by law, as shall be determined within the discretion of the City Council, for the purpose of the acquisition of proper- ty and making l~provements for public purposes, to-wit reroutlng Bell Avenue from ~ts present 1ntersect~on with Bell Place through the Texas Woman's University golf course to the present Intersection of Bell Avenue and University, and shall said City Councll be author- lzed to levy and cause to be assessed and collected annual ad valorem taxes in an amount sufflclent to pay the annual interest on said bonds and provide a sink- lng fund to paylsald bonds at maturity~ -2- PROPOSITION NO 4 Shall the City Counczl of the Clty of Denton be authormzed to ~ssue the bonds of sa~d C~ty, zn one or more serzes Or ~ssues, zn the aggregate prznczpal amount of $2,800,000, w~th the bonds of each such serzes or zssue, respectively, to mature serially with- in not to exceed forty years from their date, and to be sold at such prices and bear ~nterest at such rates, not to exceed the maximum rates permitted by law, as shall be determined wzth~n the dzscretzon of the Clty Councal, for the purpose of the acqums~tzon of proper- ty and making ~provements for publzc purposes, to-wit constructang a new overpass of the M~ssourz & Paczf~c railway tracks On McK~nney Street, and shall sa~d Czty Council be authorazed to levy and cause to be assessed and collected annual ad valorem taxes zn an amount sufficzent to pay the annual ~nterest on sazd bonds and provide a sinkzng fund to pay sa~d bonds at maturity~ 7 That the official ballots for sa~d elect~on shall be prepared zn accordance wmth the Texas Electzon Code so as to permit the electors to vote "FOR" or "AGAINST" the aforesazd PROPOSITIONS, wzth the ballots to contain such provisions, markzngs, and language as requzred by law, and with such PROPOSITIONS to be expressed substantially as follows PROPOSITION NO 1 FOR THE ISSUANCE OF $4,700,000 OF STREET REBUILDING, REPAVING, OR OVERLAYING BONDS AGAINST PROPOSITION NO 2 FOR THE ISSUANCE OF $1,300,000 OF STREET INTERSECTION REBUILDING BONDS AGAINST PROPOSITION NO 3 FOR THE ISSUANCE OF $850,000 OF BELL AVENUE REROUTING BONDS AGAINST PROPOSITION NO 4 FOR ) THE ISSUANCE OF $2,800,000 OF McKINNEY STREET OVERPASS BONDS AGAINST ) 8 That zt ~s hereby found and determlned that the prob- able perzod of usefulness of the proposed zmprovements covered by each of the aforesaid PROPOSITIONS zs 30 years 9 That Artacle 9, Sec 9 02 of the Cmty Charter contains the following provision and requires th~s elect~on ordinance to d~st~nctly specify -3- "(d) A determination of the net debt of the City after issuance of the bonds thereby authorized, together with a declaration that the bonds thereby authorized will be wlthln all debt and other limitations prescrib- ed by the Constitution and laws of the State of Texas" The determlnatlon is hereby made that the net debt of the C~ty after the issuance of the bonds herein proposed to be submitted will be not more than $~ ~ , and it is hereby declared that said general obllgat~on b6nds will be within all debt and other l~m~tat~ons prescribed by the Constitution and laws of the State of Texas -4- CERTIFICATE FOR ORDINANCE CALLING A BOND ELECTION THE STATE OF TEXAS COUNTY OF DENTON CITY OF DENTON We, the undersigned officers of said City, hereby certify as follows 1.The City Council of said City convened in REGULAR MEETING ON THE 20TH DAY OF JANUARY, 1981, at the Municipal Buildlng (City Hall), and the roll was called of the duly constituted officers and members of said City Council, to-wit Brooks Holt, City Secretary Richard O Stewart, Mayor Dr A Ray Stephens Roland Vela Richard H Tallaferro Dwight L Galley Charles Hopkins (Vacancy) and all of said persons were present, except the following absentees , thus constituting a quorum. Whereupon, among other business, the following was transacted at said Meeting a written ORDINANCE CALLING A BOND ELECTION was duly introduced for the consideration of said City Council and read in full. It was then duly moved and seconded that said Ordinance be passed, and, after due discussion, said mo- tion, carrying wlth it the passage of said Ordinance, prevail- ed and carried by the following vote AYESAil members of said City Council shown present above voted "Aye" NOESNone 2 That a true, full, and correct copy of the aforesaid Ordinance passed at the Meeting described in the above and fore- going paragraph is attached to and follows this Certificate, that said Ordinance has been duly recorded in said City Council's m~nutes of said Meeting, that the above and foregoing paragraph is a true, full, and correct excerpt from said C!ty Council's minutes Of said Meeting pertaining to the passage of said Ordi- nance, that the persons named in the above and foregoing para- graph are the duly chosen, qualified, and acting officers and members of said City Council as indicated therein, that each of the officers and members of said City Council was duly and suffi- ciently notified officially and personally, 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 each of said officers and members consented, in ad- vance, to the holding of said Meeting for such purpmse, and that said Meeting was open to the public, and public not.ce of the time, place, and purpose of said meeting was g~ven, all as re- quired by Vernon's Ann. Clv 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 tha~ the Mayor and the City Secretary of said City hereby de- clare that their signlng of this Certificate shall constitute the slgnlng of the attached and following copy of said Ordinance for all purposes SIGNED AND SEALED_the 20th day of January, 1~81 ~ C ty Sect tary -- -- ~-~ ~ayorV ~' ~EAL) ................ ~ ........ We, the undersigned, being respectively the City Attorney and the Bond Attorneys of the City of Denton, Texas, hereby cer- tify that we prepared and approved as to legality the attached and followlng Ordinance prior ~ its_passage as ~foresaid ' / Cit~ ~%Orne~ ' Bond~orneys