1968-005 ORDINANCE NO 68-5
ORDINANCE AUTHO~IZ,ING THE ISSUANCE 05 ELELTRIC REVFNUE BONDS
THE STATE 05 TEXAS
COUNTY OF DENTON
CITY OF DENTON
WHEREAS, the bonds hereinafter authorized were duly and
favorably voted, as required by the Constitution and laws of the
State of Texas, at an election held in said City on the 9th day of
December, 1967, and
WHFREAS, the bonds hereinafter authorized are to be issued
and delivered pursuant to Vernon's Articles 1111 through 1118, and
the Home Rule Charter of said City
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS
Section 1 That said City's bonds, to be designated the
"CITY OF DENTON ELECTRIC REVENUE BONDS, SERIES 1968," are hereby
authorized to be issued and delivered in the principal amount of
$1,000,000, FOR THE PURPOSE OF IMPROVING AND EXTENDING THE CITY'S
ELECTRIC LIGHT AND POWER SYSTEM°
Section 2 That said bonds shall be dated FEBRUARY 1,
1968, shall be in the denomination of $5,000 EACH, shall be numbered
consecutively from 1 THROUGH 200, and shall mature serially on
NOVEMBER 1 in each of the years, and in the amounts, respectively,
as set forth zn the following schedule
YEARS AMOUNTS YEARS ~MOUNTp.
1969 $50,000 1979 $50,000
1970 50,000 1980 50 000
1971 50,000 1981 50 000
1972 50,000 1982 50 000
1973 50,000 1983 50 000
1974 50,000 1984 50 000
1975 50,000 1985 50 000
1976 50,000 1986 50 000
1977 50,000 1987 50,000
1978 50,000 1988 50.000
Said bonds may be redeemed prior to their scheduled maturities, at
the option of said City, on the dates stated, and in the manner
provided, in the FORM OF BOND set forth in thls Ordinance
Section 3 That the bonds scheduled to mature during
the years, Cespectively, set forth below shall bear interest from
their dste, until maturity or redemption, at the following rates
per annum
maturities 1969 through 1974~ 5 007
maturities 1975 through 1976. 4 00%
maturities 1977 through 1978. 4 10%
maturities 1979 through 1980. 4 15%
maturities 1981 through 1983 4 25%
maturities 1984 through 1986. 4 35%
maturities 1987 through 1988 4 40%
-1-
Said interest shall be evidenced by interest coupons which shall
appertain to said bonds, and which shall be payable on the dates
stated zn the FORM OF BOND set forth ~n this Ordinance
Section 4 That said bonds and ~nterest coupons shall
be payable, shall have the characteristics, and shall be s~gned
and executed (and sa~d bonds shall be sealed), all as provided,
and in the manner indicated, in the FORM OF BOND set forth ~n th~s
Ordinance
Section 5 That the form of said bonds, ~nclud~ng the
form of Registration Certificate 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 ~nterest coupons
which shall appertain and be attached initially to each of sa~d
bonds, shall be, respectively, substantlally as follows
FORM OF BOND
NO $5,000
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF DENTON
CITY OF DENTON ELECTRIC REVENUE BOND
SERIES 1968
ON NOVEMBER 1, 19__, the CITY OF DENTON, in the County
of Denton, State of Texas, promises to pay to bearer the principal
amount of
FIVE THOUSAND DOLLARS
and to pay interest thereon, from the date hereof, at the rate of
% per annum, evidenced by interest coupons payable NOVEMBER 1,
'1968, and semi-annually thereafter on each MAY 1 and NOVEMBER 1
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 FIRST STATE BANK OF
DENTON, DENTON, TEXAS, or, at the option of the bearer, at the
FIRST NATIONAL BANK IN DALLAS, DALLAS, TEXAS, which places shall be
the paying agents for this Series of bonds
THIS BOND is one of a Series of bonds dated FEBRUARY 1,
1968, issued in the principal amount of $1,000,000, FOR THE PURPOSE
OF IMPROVING AND EXTENDING THE CI%Y'S ELEGTRIC LIGHT AND POWER
SYSTEM
ON NOVEMBER 1, 1978, OR ON ANY INTFREST PAYMENT DATE
THEREAFTER, any outstanding bonds of this Ser~es may be redeemed
prior to their scheduled maturities, at the option of sa~d C~ty,
IN WHOLE, OR IN PART, for the principal amount thereof and accrued
interest thereon to the date fixed for redemption At least thirty
-2-
days prior to the date fixed for any such redemptzon sazd Czty shall
cause a wrztten notzce of such redemptzon to be publzshed at least
once in a financzal publzcatzon publzshed zn the Czty of New York,
New York By the date fixed for any such redemptzon due prov~szon
shall be made wzth the paying agents for the payment of the przncz-
pal amount of the bonds whzch are to be so redeemed and accrued
interest thereon to the date fixed for redemptzon If such wrztten
notzce of redemptzon zs publzshed and ~f due provzszon for such pay-
ment is made, all as provzded above, the bonds which are to be so
redeemed thereby automatzcally shall be redeemed przor to their
scheduled maturitzes, and they shall not bear znterest after the
date fixed for redemption, and they shall not be regarded as bezng
outstandzng except for the purpose of bezng pazd by the payzng
agents wzth the funds so provided for such payment
IT IS HEREBY certzfzed, reczted, and covenanted that
this bond has been duly and valzdly zssued and delivered, that all
acts, conditzons, and thzngs requzred or proper to be performed,
ex~st, and be done precedent to or in the zssuance and delivery of
this bond have been performed, existed, and been done zn accordance
with law, and that the interest on and prznczpal of this bond, ~nd
the Series of whzch zt is a part, together wzth other outstandzng
electric revenue bonds of sazd Czty, are secured by and payabln
from a fzrst lzen on and pledge of the Net Revenues of the Czty's
Electric Lzght and Power System
SAID CITY has reserved the rzght, sub3ect to the
restrictions adopted by reference in the Ordznance authorzzzng
this Series of bonds, to ~ssue addztzonal parity revenue bonds
whzch also may be secured by and made payable from a fzrst lien
on and pledge of the Net Revenues of sazd Czty's Electrzc Light
and Power System
FURTHER, SAID CITY has reserved the rzght, sub3ect to
the restr~ctzons referred to zn the Ordznance authorizzng thzs
Series of bonds, to combine the operatzon of its Electrzc L~ght,
Waterworks, and Sanztary Sewer Systems, in whzch event thzs Serzes
of bonds and other revenue bonds of the Czty may be secured by and
made payable from a fzrst lien on and pledge of the Net Revenues
of said combzned Electric Lzght, Waterworks, and Sanztary Sewer
Systems
JTHE HOLDER HEREOF shall never have the rzght to demand
payment of this oblzgatzon out of any funds raised or to be razsed
by taxation
IN WITNESS WHEREOF, thzs bond and the znterest coupons
apperta~nzng hereto have been signed wzth the facszmzle szgnature
of the Mayor of said Czty and counterszgned wzth the facszmzle
signature of the Czty Secretary of sazd Czty, and the offjczal seal
of said City has been duly zmpressed, or placed zn facszmzle, on
this bond
XXXXXXXX XXXXXXXX
~lty Secretary, City of Dent~n Mayor, Clty of Denton
-3-
FORM OF REGISTRATION CFRTIFICA%E
COMPTROLLER'S REGISTRATION CERTIFICATE REGISTER NO
I hereby certify that this bond has been examzned, cert~-
fled as to validity, and approved by the Attorney General of the
State of Texas, and that this bond has been regzstered by the
Comptroller of Public Accounts of the State of Texas
Witness my signature and seal th~s
XXXXXXXX
Comptroller of Public Accounts of-the'-
State of Texas
FORM OF INTERESI COUPON
NO. $
ON 1, 19
THE CITY OF DENTON, in the County of Denton, State of Texas,
promises to pay to bearer the amount shown on th~s interest coupon,
in lawful money of the United States of America, w~thout exchange
or collection charges to the bearer, unless due provision has been
made for the redemption prior to maturity of the bond to which th~s
interest coupon appertains, upon presentation and surrender of this
interest coupon, at the FIRST STATE BANK OF DENTON, DEN£ON, TFXAS,
or, at the option of the bearer, at the FIRST NATIONAL BANK IN
DALLAS~ DALLAS, TEXAS, said amount being ~nterest due that day on
the bond, bearing the number hereinafter designated, of that ~ssue
of CITY OF DENTON ELECTRIC REVENUE BONDS, SERIES 1968, DATED
FEBRUARY 1, 1968 The holder hereof shall never have the right
to demand payment of this obligation out of any funds raised or to
be raised by taxation Bond No
XXXXXXXX
xxxxxxx5 .....
City Secretary Mayor
Section 6 That the term "Outstanding Bonds," as used
herein, shall mean the outstanding bonds of the following issues
of said City
Electric Revenue Bonds, Series 1954,
authorized by ordinance dated October 12, 1954,
Electric Revenue Bonds, Series 1955,
authorized by ordinance dated May 15, 1955,
Electric Revenue Bonds, Serzes B, 1955,
authorzzed by ordinance dated November 8, 1955,
Electric Revenue Bonds, Serzes 1961,
authorzzed by ordinance dated June 13, 1961,
Electric Revenue Bonds, Serzes 1965,
authorized by ord~nanca dated January 19, 1965
-4-
The Series 1968 Bonds authorized hereby are parity "Additional
Bonds" as defined and permitted zn Section 22 of the aforesaid
ordinance dated October 12, 1954, and Sections 11 through 29 of
said ordinance dated October 12, 1954, are adopted by refezence
and shall be applicable to said Ser~es 1968 Bonds for all pur-
poses, except to the extent hereinafter specifically modified and
supplemented The Series 1968 Bonds and the Outstanding Bonds are
and shall be equally and ratably secured by and payable from a
first lien on and pledge of the Net Revenues of said City's Electric
Light and Power System, and all of said obligations shall be on a
parity and of equal dignity zn all respects
Section 7 That, zn addition to all other amounts re-
quired by the ordinances, respectively, authorizing the issuance
of the Outstanding Bonds, there shall be deposited into the Inter-
est and Redemption Fund, created for the benefit of said Outstand-
ing Bonds and all Additional Bonds, the following
(a) such amounts, in equal monthly installments,
made on or before the 10th day of each month hereafter,
as will be sufficient to pay the interest scheduled to
come due on said Series 1968 Bonds on the next interest
payment date, and
(b) such amounts, in equal monthly installments,
made on or before the 10th day of each month, commenc-
ing November 10, 1968, as will be sufficient to pay the
next maturing principal of said Series 1968 Bonds
Section 8 That, in addition to all other amounts re-
quired by the ordinances, respectively, authorizing the issuance
of the Outstanding Bonds, there shall be deposited into the Reserve
Account zn the Interest and Redemption Fund, created for the bene-
fit of said Outstanding Bonds and all Additional Bonds, on or be-
fore the 10th day of each month hereafter, the sum of at least
$1,000 until the aggregate amount of $1,062,000 shall have been
accumulated in said Reserve Account Thereafter said aggregate
amount shall be maintained therein, for the benefit of the Out-
standing Bonds, the Series 1968 Bonds, and all Additional Bonds,
zn accordance with the procedures, as here~n modified and supple-
mented, set forth in the ordinances authorizing the Outstanding
Bonds
Section 9 That said bonds are and shall be special
oblzgations of said City, and the holder or holders thereof shall
never have the right to demand payment of said obligations out of
any funds raised or to be raised by taxation
Section 10 That the Mayor of said C~ty zs hereby
authorized to have control of said bonds and all necessary records
and proceedings pertaining to said bonds pending their delivery
and their ~nvestigatzon, examination, 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 regis-
tration of said bonds, said Comptroller of Public Accounts (or a
-5-
deputy designated in writzng to act for said Comptroller) shall
manually sign the Comptroller's Regzstrat~on Certzfzcate prznted
and endorsed on each of sazd bonds, and the seal of sazd Comptroller
shall be impressed, or placed in facszmzle, on each of sazd bonds
Section 11 That the proceeds of the Serzes 1968 Bonds
shall be used solely for making ~mprovements and extenszons of the
Czty's Electric Light and Power System whzch have been determzned
by the City Counczl to be necessary and economzcally feaszble
Section 12 That the City Council offzczally fznds,
determines, and declares that sazd bonds have been duly advertzsed
for sale as requzred by the Home Rule Charter of sazd Czty, that
sealed bzds have been received at a public sale of said bonds held
on January 23, 1968, that all of sazd bonds are hereby sold and
shall be delivered to a syndzcate managed or headed by Rowles,
Wznston & Co , Inc , being the best bidder at said publzc sale,
for the principal amount of said bonds, and accrued interest there-
on to the date of delzvery, plus a premzum of $ -0-
Sectzon 13 It zs further found and determined that
the Official Notzce of Sale for sazd bonds was duly published on
December 22, 1967, in the Bond Buyer, New York, New York, whzch zs
a national publicatzon regularly and primarily carrying financzal
news and municipal bond sale notices, and on December 21, 1967, zn
the "Denton Chronzcle", which has been designated as the officzal
newspaper of the City of Denton The form and substance of sazd
Offzczal Notzce of Sale, and the aforesazd publzcations thereof,
are hereby approved and ratzfied zn all respects by "he City Counczl
-6-
It Brooks Holt, hereby certify that I did not attend
the regular counczl meeting of the C~ty of Denton~ Texas~
but did appear at the municipal building after ~ts adDournment
on Se night of January 23, 1968~ and d~d w~tness the signature
of Mayor Zeke Mart~n on all certificates and papers ~nvolved
· n the ordinances passed at the sa~d meeting, ~nclud~ng the
general ~l~gat~on and eleutrzc revenue bond sale ordinances
~C~ty Secretary
Ci~ of Denton, Texas
ATTKS~
mc_ CALL PARKHURST ~ HORTON
M~LLARD PA~KHUR~T DALLAS TEXAS 75201 JOHN D M CALL Ili~9~ 19~2)
,,~ .... ,~.~ January 23, 1968
Honorable Mayor and Council of
the City of Denton,
Denton, Texas
Gentlemen CITY OF DENTON ELECTRIC REVENUE
BONDS, SERIES 1968, $1,000,000
In compliance with Sectzon 9 02 and Section
9 04 of the City Charter of the City of Denton, you are ad-
vised that the bzds for this issue of bonds have been tabu-
lated and that we find that the bid of ~ .
~/~_ ~, ~ . for the bond§ to bear
tnterest at'the rates therein specified and for which such
bzdder will pay par and accrued ~nterest to date of delivery
plus a premium of $ ~-~O~., is the lowest and best bzd re-
ceived, and we recommend that ~t be accepted
We further certify that we have examzned the
ordinance presently placed before the Mayor and Czty Council
for the purpose of authorizing the zssuance of sazd bonds,
and in our opinion the said proposed bond ordinance is legal,
and that the bonds to be issued thereunder will be valid and
bi,nding obligations of the City's Electrzc Light and Power
System
Respectfully,
McCALL, PARKHURST & HORTON
CERTIFILATE FOR
ORDINANCE AU~HORI?I_~NG~]~_~$__SUANCL OF ELFCTRIC REVENUE BOND~_
THE STA%~ OF TEXAS
COUN%Y OF DEN%ON
CITY OF DENTON
We, the underszgned offzcers of sazd Czty, hereby certzfy as
follows
1 The City Council of sa~d Czty convened zn
REGULAR MEETING ON THE 23RD DAY OF JANUARY, 1968,
at the Municipal Building, and the roll was called of tho duly con-
stltuted officers and members of sazd Czty Counczl, to-wit
Brooks Holt, Czty Secretary Zeke Martzn, Mayor
Warren Whltson, J~ J T Jones, Jr
L A Nelson Marvin Loveless
and all of sa~d persons were present, except the followzng
absentees ~oo7~ ./'~o~7'~ --'
thus constztuting a quorum Whereupon, among ~ther buszness, the
followxng was transacted at sazd Meetzng a written
ORDINANCF AUTHORIZING THE ISSUANCE OF ELECTRIC REVENUE BONDS
was duly introduced for the conszderatzon of sazd Czty Council and
read in full It was then duly moved and seconded that sazd Ordinance
be passed, and, after due d~scusszon, sazd motzon, carrying wzth xt
the passage of sazd Ordlnance, prevailed and carrzed by the follow-
ing vote
AYES All members of sazd Czty Counczl
shown present above voted "Aye"
NOES None
2 That a true, full, and correct copy of the aforesaid Or-
dinance passed at the Meeting descrzbed in the above and foregoing
paragraph i~ attached to and follows thzs Certzf~cate, that sazd
Ordinance has been duly recorded in sazd Czty Counczl's minutes of
said Meeting, that the above and foregozng paragraph ~s a true, full,
and correct excerpt from sazd Czty Council's mznutes of sa~d Meetzng
pertaining to the passage of sazd Ordinance, that the persons named
in the above and foregozng paragraph are the duly chosen, qualzfied,
and acting officers and members of sazd Czty Counczl as indzcated
therezn, and that each of the officers and members of sazd City
Council was duly and sufficzently notzfzed offzczally and personally,
in advance, of the time, place, and purpose of the aforesaid Meeting,
and that sazd Ordznance would be introduced and considered for passage
at said Meetzng, and each of sazd offzcers and members consented, in
advance, to the holding of said Meeting for such purpose, and that
said Meeting was open to the publzc as required by law
3 That the Mayor of said City has approved, and hereby approves,
the aforesazd Ordznance, that the Mayor and the Czty Secretary of sazd
City have duly szgned sazd Ordinance, and that the Mayor and the Czty
Secretary of sazd Czty hereby declare that their slgnzng of th~s Cer-
t~fcate shall constitute the szgnzng of the attached and following
copy of said Ordznance for all purposes
IGNED AND SF~LED the 23rd day of Januar¥.~x1968
~' City Secret-~y /z~ ~ Mayor.
(SEAL) ........................
We, the underszgned, being respectively the Czty Attorney and
the Bond Attorneys of the Czty of Denton, Texas, hereby certzfy that
we prepared and approved as to ]egalzty the attached and followzng
Ordinance przor to its passage as aforemazd
. Ctty ACtor~c¥'"
Bond Attorneyq
ORD1NAN CE NO 68-~
ORDINANCE AUTHORIZING THE ISSUANCE OF GENERA~ OBLIGATION BONDS
THE STATE OF TEXAS
COUNTY OF DENTON
CIIY OF DENTON ~
WHEREAS, $785,000 of the bonds hereinafter authorized were
duly and favorably voted, as required by the Constztutzon and laws
of the State of Texas, at an election held zn sazd City on the 17th
day of March, 1964, and
WHEREAS, out of the bonds voted at sa~d elect~on, the
following previously have been zssued and delivered
$665,000 out of a voted total of $1,450,000, for the
purpose of the improvement of the streets of
sazd Czty, represented by part of the General
Obligation Bonds, Serzes 1966, and the General
Obllgatzon Bonds, Serzes 1967, and
WHEREAS, the remazning $215,000 of bonds hereinafter
authorzzed were duly and favorably voted, as required by the Con-
stltutzon and laws of the State of Texas, at an elect~on held ~n
said Czty on the 9th day of December, 1967, and
WHEREAS, the bonds hereznafter authorzzed are to be zssued
and delivered pursuant to law, zncludlng Vernon's Artzcle 1175, and
the Home Rule Charter of sazd City
THE COUNCIL OF THE CITY OF DENTO~ HEREBY ORDAINS
Sectzon 1 That sazd Czty's bonds, to be deszgnated the
"CITY OF DENTON GENERAL OBLIGATION BONDS, SERIES 1968," are hereby
authorized to be issued and delzvered in the prznczpal amount of
$1,000,000 for the purpose of provzdzng $785,000 FOR THE IMPROVE-
MENT OF THE STREETS OF SAID CITY, AND $215,000 FOR CONSTRUCTING AND
IMPROVING STREETS IN SAID CITY, AND PROVIDING DRAINAGE IN CONNECTION
THEREWITH
Section 2 That said bonds shall be dated FEBRUARY 1,
1968, shall be in the denominatzon of $5,000 EACH, shall be number-
ed consecutively from 1 THROUGH 200, and shall mature serzally on
FEBRUARY i in each of the years, and zn the amounts, respectzvely,
as set forth in the following schedule
YEARS AMOUNTS YEARS AMOUNTS
1969 $25,000 1979 $50,000
1970 50,000 1980 50 000
1971 50 000 1981 50 000
1972 50 000 1982 50 000
1973 50,000 1983 50 000
1974 50~000 1984 50 000
1975 50 000 1985 50 000
1976 50 000 1986 50 000
1977 50 000 1987 50 000
1978 50 000 1988 75 000
-1-
Sectzon 3 That the bonds scheduled to nmture durzng the
years, respectzvely, set forth below shall bear znterest from thezr
date, untzl maturzty, at the following rates per annum
maturztzes 1969 through 1974, 5 00%
maturztzes 1975, 4-1/8%
maturzt~es 1976 through 1978, 4 00%
maturztzes 1979 through 1980, 4 10%
maturzt~es 1981 through 1982, 4 20%
maturzties 1983, 4-1/4%
maturities 1984 through 1988, 4 30%
Sazd interest shall be evzdenced by znterest coupons whzch shall
appertain to sazd bonds, and which shall be payable on the dates
stated in the FORM OF BOND set forth zn thzs Ordznance
Section 4 That said bonds and interest coupons shall be
payable, shall have the characterzstzcs, and shall be s~gned and ex-
ecuted (and sazd bonds shall be sealed), all as provided, and zn the
manner zndzcated, in the FORM OF BOND set forth ~n this Ordinance
Section 5 That the form of sazd bonds, zncluding the form
of Registration Certifzcate of the Comptroller of Publzc Accounts of
the State of Texas to be printed and endorsed on each of sa~d bonds,
and the form of the aforesazd interest coupons which shall appertain
and be attached znztially to each of sazd bonds, shall be, respect-
ively, substantially as follows
FORM OF BOND
NO $5,000
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF DENTON
CITY OF DENTON GENERAL OBLIGATION BOND
SERIES 1968
ON FEBRUARY 1, 19__, the CITY OF DENTON, zn the County of
Denton, State of Texas, promzses to pay to bearer the prznczpal
amount of
FIVE THOUSAND DOLLARS
and to pay interest thereon, from the date hereof, at the rate of
% per annum, evidenced by interest coupons payable FEBRUARY 1,
1969, and semi-annually thereafter on each AUGUST 1 and FEBRUARY 1
while this bond ~s outstanding The princzpal of thzs bond and the
interest coupon~ appertaznzng hereto shall be payable to bearer, zn
lawful money of the United States of Amezzca, wzthout exchange or
collectzon charges to the bearer, upon presentatzon and surrender
of th~s bond or proper znterest coupon, at THE FIRST NATIONAL CITY
BANK OF NEW YORK, NEW YORK, NEW YORK, or, at the optzon of the
bearer, at the FIRST NATIONAL BANK IN DALLAS, DALLAS, TFXAS, which
places shall be the paying agents for th~s Serzes of bonds
-2-
THIS BOND is one of a Series of bonds dated FEBRUARY 1,
1968, ~ssued ~n the princmpal amount of $1,000,000 for the purpose
of providing $785,000 FOR THE IMPROVEMENT OF THE STREETS OF SAID
CITY, AND $215,000 FOR CONSTRUCTING AND IMPROVING STREETS IN SAID
CITY, AND PROVIDING DRAINAGE IN CONNECTION THEREWIfH
IT IS HEREBY certified, reczted, and covenanted that this
bond has been duly and validly issued and delzvered, that all acts,
conditions, and thzngs requzred or proper to be performed, exist,
and be done precedent to or zn the issuance and delivery of th~s
bond have been performed, exzsted, and been done ~n accordance wzth
law, that thzs bond ~s a general oblzgatzon of sazd Czty, zssued on
the full fazth and credit thereof, and that annual ad valorem taxes
sufficient to provide for the payment of the znterest on and prznci-
pal of this bond, as such interest comes due and such prznczpal
matures, have been levzed and ordered to be lev~ed against all tax-
able property in sa~d C~ty, and have been pledged ~rrevocably for
such payment, withzn the limit prescribed by law
IN WITNESS WHEREOF, thzs bond and the interest coupons
appertazning hereto have been signed wzth the facsimile szgnature
of the Mayor of said Czty and counterszgned wzth the facszmile szgna-
ture of the Czty Secretary of sazd Czty, and the offzcial seal of
said City has been duly zmpressed, or placed in facslmzle, on thzs
bond
XXXXXXXX XXXXXXXX
City Secretary, C~ty of Denton Mayor, C~ty of Denton
FORM OF REGISI~ATION CERTIFICATE
COMPTHOLLER'S REGISTRATION CERTIFICATE REGISTER NOo
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 thls bond has been registered by the
Comptroller of Public Accounts of the State of Texas
Witness my signature and seal th~s
XXXXXXXX
Comptroller of Publzc Accounts of
the State of Texas
FORM OF INTEREST COUPON
NO $
ON 1, 19
THE CITY OF DENTON, in the County of Denton, State of Texas, promises
to pay to bearer the amount shown on this znterest coupon, zn lawful
money of the Unzted States of Amerzca, without exchange or collectzon
charges to the bearer, upon presentatlon and surrender of this zn-
terest coupon, at THE FIRST NATIONAL CITY BANK OF NEW YORK, NEW YORK,
-3-
NEW YORK, or, at the optzon of the bearer, at the FIRST NA£IONAL BANK
IN DALLAS, DALLAS, TEXAS, sazd amount bezng znterest due that day on
the bond, bearing the number hereznafter deszgnated, of that zssue of
CITY OF DENTON GENERAL OBLIGATION BONDS, SERIES 1968, DATED FEBRUARY
1, 1968 Bond No
xxxxxxxx xxxxxxxx
City Secretary Mayor
Sectzon 6 That a speczal fund or account, to be deszgnat-
ed the "City of Denton General Ob]~gatzon Bonds, Series 1968, Interest
and Sznklng Fund," is hereby created and shall be establzshed and
maintained by sazd City at an offzczal deposztory bank of sa~d Czty
Sazd Interest and S~nk~ng Fund shall be kept separate and apart from
all other funds and accounts of sazd Czty, and shall be used only
for paying the znterest on and prznczpal of sazd bonds Ail ad
valorem taxes levied and collected for and on account of said bonds
shall be deposzted, as collected, to the credzt of sa~d Interest and
Sinking Fund During each year whzle any of sazd bonds or znterest
coupons appertazning thereto are outstandzng and unpazd, the Czty
Coumcil of sazd City shall compute and ascertazn a rate and amount
of ad valorem tax which wzll be suffzczent to razse and produce the
money required to pay the znterest on sa~d bonds as such ~nterest
comes due,and to provzde and mazntazn a sinkzng fund adequate to pay
the principal of such bonds as such prznczpal matures (but never
less than 2% of the original prznczpal amount of said bonds as a
sinking fund each year), and sa~d tax shall be based on the latest
approved tax rolls of said Czty, wzth full allowance bezng made for
tax delinquencies and the cost of tax collection Said rate and
amount of ad valorem tax is hereby levzed, and zs hezeby ordered to
be levied, against all taxable property in said Czty for each year
whzle any of sazd bonds or znterest coupons appertazning thereto
are outstanding and unpazd, and sa~d tax shall be assessed and
collected each such year and deposzted to the credzt of the afore-
sazd Interest and Sznking Fund Said ad valorem taxes sufficzent
to provzde for the payment of the interest on and principal of sazd
bonds, as such znterest comes due and such princzpal matures, are
hereby pledged irrevocably for such payment, wzthzn the limzt pre~
scrzbed by law
Sectzon 7 That the Mayor of sazd Czty zs hereby au-
thorized to have control of said bonds and all necessary records
and proceedzngs pertaining to sazd bonds pendzng thezr delzvery
and their investzgatzon, examinatzon, and approval by the Attorney
General of the Smte of Texas, and thezr regzstratzon by the
Comptroller of Publzc Accounts of the State of Texas Upon regzs-
tration of sazd bonds, sazd Comptroller of Publzc Accounts (or a
deputy designated zn writing to act for sazd Comptroller) shall
manually sign the Comptroller's Registration Certzfzcate printed
and endorsed on each of said bonds, and the seal of sazd Comptroller
shall be zmpressed, or placed in facszmzle, on each of sazd bonds
Sectzon 8 That the Czty Counczl off~czally fznds,
determznes, and declares that sazd bonds have been duly advertzsed
for sale as required by the Home Rule Charter of sazd Czty, that
sealed bids have been received at a publzc sale of sazd bonds held
-4-
on January 23, 1968, that all of sazd bonds are hereby sold and
shall be delzvered to a syndzcate managed or headed by Republzc
Natzonal Bank of Dallas and Fort Worth Natzonal Bank, bezng the
best bzdder at said publzc sa]e, for the prznc~pal amount of sazd
bonds, and accrued interest thereon to the date of delzvery, plus
a premzum of $_-O-
Section 9 It zs further found and determzned that
the Official Notice of Sale for sazd bonds was duly published on
Dece~bez 22, 1967, in the Bond Buyer, New York, New York, whzch zs
a national publzcatzon regularly and primarzly carryzng fznancza]
news and munzczpal bond sale notzces, and on December 21, 1967, zn
the "Denton ChronAcle", whzch has been deszgnated as the official
newspaper of the Czty of Denton The form and substance of sazd
Offzczal Notice of Sale, and the aforesazd publzcat~ons thereof,
are hereby approved and ratzfzed zn all respects by the Czty Counczl
-5-
I, Brooks Holt, hereby certify that I did not attend
the regular council meeting of the City of Denton, Texas,
but did appear at the municipal building after ~ts adjournment
on the night of January 23, 1968, and did w~tness the signature
of Mayor Zeke Martin on all certificates and papers ~nvolved
in the ordinances passed at the sa~d meeting, ~ncludlng the
general obligation and electric revenue bond sale ordinances
~rooks Holt, City Secretary
Clty of Denton, Texas
ATTF~T~T
b z~ck Q.~ Barton, City Attorney
~/Clty of Denton, Texas
CERTI~ ICATE FOR
ORDINANCE AUTHO~I~I_~N~_,TH~,,,I~,~S, SUANCE OF GENERAL OBLICATION BONDS
THE STATE O~ TEXAS
COUNTY OF DENTON
CITY OF DENTON
We, the underszgned offzcers of sazd Czty, hereby certzfy as
follows
1 The City Counczl of sazd Czty convened zn
REGULAR MEETING ON THE 23RD DAY OF JANUARY, 1968,
at the Munzczpai Buzldzng, and the roll wa~ called of the duly con-
stltuted officezs and members of sazd Czty Counczl, to-wzt
Brooks Holt, Czty Secretary Zeke Martzn, Mayor
Warren Whztson, Jr J T Jones, Jr
L A Nelson Marvzn Loveless
and all of said persons vere present, except the followzng
absentees ~ ~,~ ~ ~ , ,
thus constztut~ng a quorum Whereupon, among other buszness, the
followzng was transacted at sa~d Meetzng a wrztten
ORDINANCE AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS
was duly introduced for the consideratzon of sazd Czty Counczl and
read in full It was then duly moved and seconded that sazd Ordinance
be passed, and, after due dzscusszon, sa~d motzon, carryzng wzth zt
the passage of said Ordinance, prevazled and carried by the follow-
ing vote
AYES. All members of said C~ty Counczl
shown present above voted "Aye"
NOES None
2 That a true, full, and correct copy of the aforesaid Or-
dinance passed at the Meeting described in the above and foregozng
paragraph ~s attached to and follows thzs Certificate, that sazd
Ordinance has been duly recorded zn said Czty Counczl's minutes of
said Meetzng, that the above and foregoing paragraph zs a true, full,
and correct excerpt from sazd Czty Counczl's m~nutesof saidMeenlng
pertainzng to the passage of said Ordznance, that the persons named
zn the above and foregoing paragraph are the duly chosen, qualifzed,
and acting offzcers and members of said Czty Counczl as ~ndicated
therein, and that each of the offzcers and members of sazd City
Council was duly and sufficiently notified offzczally and personally,
in advance, of the time, place, and purpose of the aforesaid Meeting,
and that said Ordznance would be zntroduced and considered for passage
at said Meeting, and each of sazd offzcers and members consented, zn
advance, to the holding of sazd Meetzng for such purpose, and that
said Meeting was open to the public as required by law
3 That the Mayor of said City has approved, and hereby approves,
the aforesazd Ordznance, that the Mayor and the Czty Secretary of sazd
City have duly signed sazd Ordznance, and that the Mayor and the Czty
Secretary of said City hereby declare that their slgnzng of thzs Cer-
tificate shall constitute the szgning of the attached and followzng
copy of said Ordznance for all purposes
~GNED AND SEALED the 23rd day of January, 1~68~__
~ C~ty. Secretary ''' /P'~7 -Mayor
(SEAL) ............................. ~ ......................
We, the underszgned, bezng respectively the Czty Attorney and
the Bond Attorneys of the Czty of Denton, Texas, hereby certzfy that
we prepared and approved as to legality the attached and followzng
Ordznance przor to its passage as a~~~ ~ . ~7/~z~~
-- ~ Czty Attorney /~
· ~ Bond Attorneys
M~_CALL PARKHURST ~ HORTON
.o~.~ · ~,~ 1968
~. ~ ~.~ January 23,
Honorable Mayor and Council of
the City of Denton,
Denton, Texas
Gentlemen CITY OF DENTON GENERAL OBLIGATION
BONDS, SERIES 1968~ $1~000,000
In compliance with Sectzon 9 02 and Section
9 04 of the City Charter of the City of Denton, you are ad-
vised that the bids for the captzoned issue of bonds have
been tabulated and that we find that the_bid of a syndzca~e .
managed or headed by~.~i~_~_~._-~.~
for the bonds to bear {nterest at the ~ates thereiH specz-
fled, with such bidder to pay par and accrued znterest to
date of delivery for said bonds, plus a premzum of $--~- ,
is the lowest and best bid received, and we recommend that
it be accepted
We further certify that we have examined the
ordinance presently placed before the Mayor and Council for
the purpose of authorizing the issuance of sazd bonds, and
in our opznion the said proposed bond ordznance is legal,
and the bonds to be issued thereunder will be valid and bznd-
zng obligations of the City payable from ad valorem taxes
within the limit prescribed by law
Respectfully,
McCALL, PARKHURST & HORTON