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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)