1967-043 ORDINANCE NO 67-~
ORDINANCE CALLING AN ELECTION
THE STATE OF TEXAS
COUNTY OF DENTON
CITY OF DENTON .
WHEREAS, the City Council of sazd City deems it advzsable
to issue the bonds of sazd City for the purposes hereznafter staged,
and
WHEREAS, the probable perzod of usefulness of the proposed
improvements covered by each of the PROPOSITIONS hereznafter set
forth zs 30 years
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS
1. That an election shall be held zn sazd Czty on the
9th day of December, 1967, at the Communzty Buzldang
zn the Czvac Center. Said City shall constztute a szngle Electaon
Precinct for said election, and the followzng electaon offzcers
are hereby appointed to hold said electzon at the aforesazd Pollzng
Place:
Jewell Smith, Presiding Judge, and
Dan Dudley, Alternate Presadzng Judge
Th~ePrssidzng Judge shall appoant not less than two nor
more than~ualzfaed electzon clerks to serve and asszst an
conductzng said election, provided that if the Presadang Judge
named above actually serves at saad electaon as expected, then the
Alternate Presiding Judge shall be one of such clerks
By approving and signing thas Ordanance the Mayor of sazd
City officially confzrms hzs appointment of the aforesazd electzon
offzcers to serve at said electzon, and by passing thas Ordznance
the Czty Council of sazd CAty approves and concurs zn the appoznt-
ment of the aforesaid electaon offzcers
2. That at said electzon the followzng PROPOSITIONS shall
be submitted in accordance with law
PROPOSITION NO 1
Shall the Czty Counczl of saad Czty be authorzzed
ito issue the bonds of sazd City, an one or more serzes
or assues, zn the aggregate prlnczpal amount of $15,000,000,
with the bonds of each such seraes or assue, respectzvely,
,to mature serially wathzn not to exceed 40 years from
thear date, and to bear interest at rates not to exceed
6% per annum, for the purpose of amprovzng and extendang
.the Caty's E]ectrzc Light and Power System, wzth saad
bonds to be secured by and payable from a lzen on and
pledge of the Net Revenues of said C~ty's Electric Laght
and Power System?
PROPOSITION NO 2
Shall the City Council of said City be authorized
to issue the bonds of said Clty~ in one or more series
or issues, in the aggregate principal amount of
$2~500~000, with the bonds of each such series or
lssue~ respectlvely~ to mature serially within not
to exceed 40 years from their date, and to bear interest
at rates not to exceed 6% per annum, for the purpose
of constructing and improving streets in said City, and
providing drainage in connection therewith, 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 interest on said
bonds and provide a s~nklng fund to pay said bonds at
maturity?
3. That the official ballots for said election
shall be prepared in accordance with the Texas Election Code
so as to permit the electors to vote "FOR" or "AGAINST" the
aforesaid PROPOSITIONS~ which shall be set forth in substant-
ially the following form:
PROPOSITION NO, 1
FOR )
) THE ISSUANCE OF ELECTRIC LIGHT AND
) POWER SYSTEM REVENUE BONDS
AGAINST )
PROPOSITION NO~ 2
FOR )
) THE ISSUANCE OF STREET AND DRAINAGE
) GENERAL OBLIGATION BONDS
AGAINST )
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4. That only reszdent, qualzfzed electors who own taxable
property in said Czty and who have duly rendered the same for tax-
ation shall be entitled to vote at sazd electzon
5 That notice of sazd electzon shall be gzven by postzng
a substantial copy of thzs Ordznance at the Munzczpal Buzldzng (Czty
Hall) and at two other places in sazd Czty, not less than 15 days
prior to the date set for said election, and a substantial copy of
thzs Ordznance also shall be publzshed on the same day zn each of
two successive weeks zn a newspaper of general czrculatzon publzsh-
ed ~n sazd Czty, the date of the fzrst publzcatzon to be not less
than 14 d~ys przor to the date set for sazd electzon
6. Artzcle 9, Sec 9 02 of the Czty Charter contazns the
following provision and requires this electzon ordznance to dzs-
t~nctly speczfy.
"(6) a determznatzon of the net debt of the Czty
after issuance of the bonds thereby authorzzed, to-
gether with a declaratzon that the bonds thereby
authorized wzll be wzthln all debt and other lzmz-
rations prescribed by the Constztut~on and laws of
the State of Texas."
Artzcle 9, Sec 9 01 (b) provides that "In no event shall revenue
bonds be considered an indebtedness of the Czty" Therefore no
such determination is required to include the revenue bonds herezn-
above submitted As to the general ob]zgatzon bonds herezn proposed
to be submitted the determination ~s hereby made that the net debt
of the City after the issuance of said bonds wzll be not more than
$6,907,500, and it is hereby declared that sazd general oblzgatzon
bonds will be withzn all debt and other limitatzons prescribed by
the Constitution and laws of the State of Texas.
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CERIIFICAiE FOR
OI~INANCE CALIINC AN ELECIION
TH~ STARE OF TEXAS
COUNTY O~ DEN%ON
CI£Y OF DENTON
We, the undersigned officers of said City, hezeby certify as
follows
1 f~he~Clty Council of sal~y convened in
/f~Z~.~__ MEE%ING ON £HE //_~Z~ DAY OF NOVE~mFR, 196/,
at the Mum-iclpai Building, and the roll was called of the duly con-
stituted officers and members of said C~ty Council, to-wit
Brooks Holt, City Secretary Zeke Martin, Mayor
Warren Whltson, Jr J % Jones, Jr
L A Nelson Marvin iovel~ss
arid all of said persons wer~ present, except the following
absentees ..... ~/~__~_--
thus constituting a quorum Whereupon, among other business, the
following was transacted at said Meeting a written
ORDINANCE CALLING AN 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 motion, carrying with it
the passage of said Ordinance, prevailed and cazrled by the follow~
lng vote
AYES All members of said City Council
shown present above voted "Aye"
NOES None
2. That a true, full, and correct copy of the aforeoa]d Or-
dinance passed at the Meeting described in the above and foregoing
paragraph is attached to and follows this Certificate, that sa~d
Ordinance has been duly recorded zn said City Council's minutes of
said Meeting, that the above and foregoing paragraph is a true, full,
and correct excerpt from said City Council's minutes of said Meeting
pertaining to the passage of said Ordinance, that the persons named
in the above and foregoing paragraph are the duly chosen, qualified,
and acting officers and members of said City Council as indicated
therein, and that each of the officers and members of said City
Council was duly and sufficiently 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
advance, to the holding of said Meeting 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 aforesaid Ordinance, that the Mayor and the City Secretary of said
City have duly signed said O~dlnance, and that the Mayor and the City
Secretary of said City hereby declare that their signing of this Car-
tlflcate shall constitute the s~gnlng of the attached and following
copy of said Ordinance for all puzposes
~~ALED the~day o~~1~67
~ C~ty Secretary / ) Mayor
(SEAL) ........................... ~ .......................
We, the undersigned, being respectively the City Attorney amd
the Bond Attorneys of the C~ty of Denton, Texas, hereby certify that
we prepared and approved as to legality the attached and ~ollowlng
Ordinance prior to its passage as afor~ld
City Attorne~
Bond ~ttorneys