1972-014 ORDINANCE NO 72 - /~
WHEREAS, pursuant to the City Charter of the City
of Denton, and the Not~ce of Sale dated Apral 4, 1972, the
C~ty has on th~s date received and tabulated bads for the sale
of the C~ty of Denton Electric Revenue Bonds, Seraes 1972, ~n
the pranc~pal amount of $6,0Q0,000, and
WHEREAS, as as requared by the C~ty Charter of the
C~ty of Denton, sald b~ds have baen duly tabulated, and
WHEREAS, McCall, Parkhurst & Horton, of Dallas, Texas,
bond attorneys for the Caty of Denton, have found that the bad
hereinafter accepted ~s the lowest and best b~d receaved, and
WHEREAS, sa~d bond attorneys have approved the legality
of such proposal, and have recommended that at be accepted
THEREFORE THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS
Section 1 That the b~d for the above descrabed bonds
by a syndicate managed or headed by ~I/F~.
, wath the bonds to bear ~n-
terest at the rates specaf~ed an saad bid, and w~th the b~dder
to pay par and accrued ~nterest to date of delivery for said
bonds, plus a premium of $ ~ ~, as hereby accepted
Section 2 That the Mayor and Caty Secretary are
hereby authorazed and d~rected to execute any and all ~nstruments,
and to take such actaon as as necessary, in order to consummate
the ~ssuance, sale, and delavery of the aforesaad bonds an accor-
dance w~th the Notace of Sale dated April 4, 1972, and the bad
here~n accepted
PASSED and APPROVED th~s the 25th day of April, 1972
BILL NEU, MAYOR
CITY OF DENTON, TEXAS
ATTEST
BROOKS HOLT, CITY SECRETARY
CITY OF DENTON, TEXAS
APPROVED_AS__TO LEGAL FORM
CITY OF DEN~DN, TEXAS
OFFICIAL BID FORM
Aprli 25 1972
Honorable Mayor and City Council
City of Denton
Denton Texas
Gentlemen
Reference AS made to your Official Notice of Sale and OfficAai Statement dated Aprli 4
1972 of $6 000 000 CITY OF DENTON TEXAS ELECTRIC REVENUE BONDS SERIES 1972 both of which
constitute a part hereof For your legally issued bonds being issued for the purpose of Im-
proving and extending the City s Electric Light and Power System all as described in said
Notice we wlll pay you par and accrued interest from May 1 1972 to date of delivery to us
plus a cash premium of $ 429.63 for bonds maturing and bearing interest as follows
Interest Interest
Amount Matur~t~ Rate Amount Maturlt~ Rate
$240 000 11-1-73 6~0 % $240 000 11-1-86
240 000 11-1-74 __~_~0__% 240 000 11-1-87 5
240,000 11-1-75 ~. 0 % 240 000 11-1-88 --~--~-~%
240 000 11-1-77 240 000 11-1-90
240 000 11-1-78 ~i 240 000 11-1-91 5~25
240 000 11-1-79 240 000 11-1-92
240 000 11-1-80 . 240 000 11-1-93
240 000 11-1-81 240 000 11-1-94
240 000 11-1-82 ---6~0--~ 240 000 11-1-95
240 000 11-1-83 ~.~ 240 000 11-1-96
240 000 11-1-84 ~ 240 000 11-1-97
240 000 11-1-85
Our calculatkon of the net Interest cost and effective interest rate which ~s~formatAve
only and not a part of the above b~d, zs as follows
Gross Interest cost $ 4,039~t,..560 O0
\ 429 63
Less Premium
NET INTEREST COST $ 4,039,130 37
4 9865
EFFECTIVE INTEREST RATF
~st National City Bank
Attached hereto is Cashier s Che~k of the
in the amount of $120 000 O0 which represents our Good Faith
Deposit and which 2s submitted in accordance with the terms as set forth an the Official
Not~ce of Sale and Official Statement
Respectfully submitted
A G Becket & Co , Inc
By _ . Authorized Repr~s/tatlve
ACCEPTANCE CLAUSE
The above and foregoing bid As hereby in all things accepted by the City of Denton Texas
A TTEST~~ ~~ Mayor C3ty of Denton Texas
Cl~S~cretary City of Denton, Texas
Return of Good Falth Deposit is hereby acknowledged