1960-004THE STATE OF TEXAS
COUNTY OF DENTON
CItY OF DENTON
On this the | ~ day of February, 1960, the City Council
of the City of Denton, Texas, convened in ~,o~A~ m~eting, at the
regular meeting place, with the following members present, to-wit
Frank R Barrow, Mayor,
Raymond Pitts,
Thomas E Noel,
G Emery Taylor,
Dr Walter Miller, Councilmen,
Geo F Spuller,
W D Buttrill, City Secretary,
and with the following absent ~;-.~ ~.~X~ ~ ~-~.~'- ~n~¢S~ ~A .... ,
constituting a quorum, at which time the following proceedmngs were had
Councilman ~ou_- introduced an ordinance
and made a motion that it be passed The mormon was seconded by Councilman
The motion carrying wmth mt the passage of the ordinance
prevailed by the following vote
AYES Councilmen Pitts, Noel, Taylor, Miller,-~
~puller ~.~d ~ and Mayor Barrow
NOES None
The ordinance as passed ms as follows ORDINANCE NO ~
BY THE CITY COUNCIL OF THE CITY OF DENTON~
TEXAS, CANVASSING RETURNS AND DECLARING
RESULT~ OF AN ELECTION ON THE QUESTION OF
THE ISSUANCE OF $2,400,000 00 STREET IM-
PROVEMENT BONDS, $85,000 00 F~2~E STATION
BOND~, $1,600,000 O0 WATERWORKS IMPROVEMEI~
AND EXTENSION REVENUE BONDS, $2,600,000 00
SE~ IMPROVE~NT AND EXTE~SION REVENUE BONDS
AND $5,200,000 O0 ELECTRIC LIGHT AND POWER
SYSTEM IMPROVEMENT AND EXTERBION REVENUE
BONDS
WHEREAS, heretofore on the 7th day of January, 1960, the
Cmty Council of the City of Denton, Texas, passed an ordinance calling an
election to be held in said City on the ~Oth day of January, 1960, on the
following propositions
PROPOSITION NO 1
"Shall the City Councml of the City of Denton,
Texas, be authorized to mssue the bonds of said Cmty in
the sum of $2,400,000 00, maturmng serially mn such in-
stallments as may be fixed by the City Council, the maxi-
mum maturity being not more than Forty (40) years from
their date, bearing mnterest at a rate not to exceed 5~
per annum, and to levy a tax sufficient to pay interest
as it accrues and prmncipal as mt matures on said issue
of bonds, for the purpose of improving the streets and
constructing necessary permanent drainage facilmtmes, as
authorized by the Constitution and laws of the State of
Texas
Thmrty years is estimated as the probable permod
of usefulness of such improvements"
PROPOS i~ION NO 2
"Shall the City Councml of the City of Denton,
Texas, be authorized to issue the bonds of samd Cmty mn
the sum of $85,000 00, maturing serially mn such install-
ments as may be fixed by the City Council, the maximum
maturity being not more than Forty (40) years from their
date, bearing interest at a rate not to exceed 5~ per annum,
and to levy a tax sufficient to pay interest as mt accrues
and principal as mt matures on samd issue of bonds, for
the purpose of constructmng and permanently equippmng fire
stations within said City, as authormzed by the Constitution
and laws of the State of Texas
Thmrty years is estmmated as the probable period
of usefulness of such improvements"
PROPOSITION NO 3
"Shall the City Council of the Cmty of Denton,
Texas, be authorized to issue the bonds of said City in
the amount of $1,600,000 00, maturing serially in such
installments as may be fmxed by the City Council, the
maximum maturity being not more than Forty (40) years
from their date, bearing interest at a rate not to exceed
5~ per annum, for the purpose of improvmng and extendmng
the City's Waterworks System, to be issued in accordance
with and secured in the manner provided mn Articles 1111-
1118, both inclusive, of the Revised Civil Statutes of
Texas, 1925, as amended, each bond to be conditioned that
the holder thereof shall never have the right to demand
payment of said obligations out of funds raised or to be
raised by taxation, secured by a pledge of the net revenues
from the operation of the City's Waterworks and Sewer System
Thirty years is estimated as the probable period
of usefulness of such improvements '
PROP0~ITION NO 4
"Shall the City Council of the Cmty of Denton,
Texas, be authorized to issue the bonds of said City in
the amount of $2~600,000 00, maturing serially in such in-
stallments as may be fixed by the City Council, the maxi-
mum maturity being not more than Forty (40) years from
their date, bearing interest at a rate not to exceed 5~
per annum, for the purpose of improving and extending the
City's Sewer System, to be mssued in accordance with and
secured in the manner provided in Articles llll-lllS, both
inclusive, of the Revised Cmvil Statutes of Texas, 1925,
as amended, each bond to be conditioned that the holder
thereof shall never have the rmght to demand payment of
said obligations out of funds raised or to be raised by
taxation~ secured by a pledge of the net revenues from the
operation of the City's Waterworks and Sewer oystem
Thirty years is estimated as the probable period
of usefulness of such improvements"
PROPOSITION NO 5
"Shall the City Council of the City of Denton,
Texas, be authorized to issue the bonds of said City mn
the amount of $5,200,000 00, maturing serially in such in-
stallments as may be fixed by the City Councml, the maxi-
mum maturity being not more than Forty (40) years from
their date, bearing interest at a rate not to exceed 5~
per annum, for the purpose of improving and extending the
City's Electric Light and Power System, to be issued in
accordance with and secured mn the manner provided in
Articles llll-lll8, both inclusive, of the Revised Civml
Statutes of Texas, 1925~ as amended, each bond to be con-
ditioned that the holder thereof shall never have the right
to demand payment of said oblmgations out of funds raised
or to be raised by taxation, secured by a pledge of the
net revenues from the operation of the City's Electric Light
and Power System
Thirty years ms estimated as the probable permod
of usefulness of such improvements"
, and
WHEREAS, said election was duly held at the time and place
specified after due notice as required by law had been gmven by posting and
publication, and
WHEREAS, there were cast at samd election the following
votes
PROPOSITION NO 1
"FOR THE ISSUANCE OF STREET IMPROVEMENT BONDS" /.2/! Votes
"AGAINST THE ISSUANCE OF STREET IMPROVEMENT
BONDS" ~7~ Votes
PROPOSITION NO 2
"FOR THE ISSUANCE OF FIRE STATION BONDS" /%~? Votes,
"~GAINST THE ISSUANCE OF FIRE STATION BONDS" ~Votes
PROPOSITION NO 3
"FOR THE ISSUANCE OF WATERWORKS IMPROVEMEh~
AND EXTEI~ION REVENUE BONDS" //.~ Votes,
"AGAINST THE ISSUANCE OF WATERWORKS IMPROVE- ~_~/.. Votes
MEET AND EXTE~S ION REVENUE BONDS"
PROPOSITION NO 4
"FOR THE ISSUANCE OF SEWER IMPROVEMENT AND
EXTENSION REVENUE BONDS"
"AGAIkBT THE ISSUANCE OF SEWER IMPROVEMENT
AND EXTEI~ION REVENUE BONDS" C;,,,, Votes
PROPCS ITION NO
"FOR THE ISSUANCE OF ELECTRIC LIGHT AND POWER
SYS~Fa REVENUE ~ONDS " // f.~ Votes,
"AGAINST THE ISSUANCE OF ELECTRIC LIGHT AND
POWER SYSTEM REVENUE BONDS" ~. Votes,
as is reflected in the election returns heretofore filed with the City
Secretary, and
WHEREAS, only qualified taxpaying voters owning taxable
property in said City and who had duly rendered their property for taxation
were allowed to vote,
TEE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS
i That said election was duly called, that notice was
given in accordance with law and in accordance with the ordinance calling
the election, that the election was held in accordance with law, that the
returns of said election have been made by the proper officers, that a
majority of the qumlified voters who own taxable property in said City and
who have duly rendered the same for taxation voting at aaid election have
voted in favor of the issuance of said bonds
2 That the City Council ~s in all things authorized
to issue said bonds and to do any and all things necessary or convenzent
in connection therewith
PASSED AND APPROVED this the /~ day of February,
MayO~, City of Denton, Texa
A i~t~y~STe~cre t ar y~ ~~t o n,- - Texas
THE STATE OF TEXAS
COU~W~Y OF DEI~TON
CITY OF DENTON
I, the undersigned, City Secretary of the City of Denton,
Texas, do hereby certify that the above and foregoing ms a true, full and
correct copy of an ordinance passed by the City Councml of the City of Denton,
Texas, (and of the minutes pertaining thereto) on the / ~ day of February,
1960, canvassing returns and declaring results of an election on the question
of the issuance of $2,400,000 O0 Street Improvement Bonds, $85,000 O0 Fire
Station Bonds, $1,600,000 O0 Waterworks Improvement and Extension Revenue
Bonds, $2,600,000 O0 Sewer Improvement and Extension Revenue Bonds and
$5,200,000 O0 Electrmc Light and Power System Improvement and Extension
Revenue Bonds, which ordinance is of record in the minutes of said City
Council
EXECUTED UNDER MY HAND and seal of said City this the
~ ~..1' day of February, 1960
City 'Secretary, City of Denton, Texas
(SEAL)