1964-029 ORDINANCE NO. 64-~AUTHORIZING THE ISSUANCE OF TAX BONDS
THE STATE OF TEXAS
GOUNTY OF DENTON
CITY OF DENTON
WHEREAS, the bonds herein authorized were duly and
favorably voted, as required by the Constitution and laws of the
State of Texas, at elections held in said City on the 30th day
of January, 1960, and March 17, 1964, and
WHEREAS, out of the bonds voted at the election held
on January 30, 1960, the following previously have been issued
and delivered.
$1,565,000 out of a voted total of $2,400,000, for
the purpose of lmprovzng the streets and
constructing necessary permanent drainage
facilities, represented by the bonds of
Series 1960, Series 1962, and part of the
General Obligatzon Bonds, Series 1963,
$ 35,000 out of a voted total of $85,000, for the
purpose of constructing and permanently
equippzng fire stations wzthln sazd City,
represented by part of the General Obli-
gation Bonds, Series 1963, and
WHEREAS, the bonds hereznafter authorized are to be
issued and delivered pursuant to the Charter of said City and
Yernon's Articles 823, 1175, 46d-9, and 6081e, respectively
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS
PERTAINING TO THE GENERAL OBLIGATION BONDS
Section 1 That sazd City's coupon bonds to be
designated the "City of Denton General Oblzgatzon Bonds, Series
1964", are hereby authorized to be zssued and delivered in accor-
dance with the Constitution and laws of the State of Texas ~n the
principal amount of $800,000 ~or the purpose of providing
$600,000 for improving the streets and constructing necessary
permanent drainage facilities, $50,000 for constructing and per-
manently equipping fire stations within sazd Czty, $100,000 for
enlarging and repairing the Czty's Public Library, and $50,000
for improving the City's Airport
Section 2. That said bonds shall be dated July 15,
1964, shall be numbered consecutively from 1 through 160, shall
b~ in the denomination of $5,000 each, and shall mature and be-
come due and payable serially on July 15 zn each of the years,
and in the amounts, respectively, as set forth in the following
schedule.
yEARS. AMOUNTS YEARS AMOUNTS..
1965 $10 000 1974 $65.000
1966 10.000 1975 65 000
1967 10.000 1976 65 000
1968 20 000 1977 65 000
1969 20000 1978 65 000
1970 25 000 1979 60 000
1971 25 000 1980 55.000
1972 65 000 1981 55,000
1973 65000 1982 55,000
Section 3. That the form of said bonds, including the
form of Registration Certificate of the Comptroller of Public
Accounts of the State of Texas to be printed and endorsed on each
bond, and the form of the interest coupons to be attached to said
bonds, shall be, respectively, 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 1964
On July 15, 19 , the City of Denton, in the County of
Denton, State of Texas, promises to pay to bearer the principal
amount of
FIVE THOUSAND DOLLAKS
and to pay interest thereon, from the date hereof, at the rate of
% per annum, evidenced by interest coupons payable January
15~ 1'965, and semi-annually thereafter on each July 15 and January
15 while this bond is outstanding The principal of this bond and
the interest coupons attached 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 sur-
render of this bond or proper interest coupon, at The First
National City Bank of New York, New York, New York, 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 coupon bonds dated
July 15, 1964, issued in the prznclpal amount of $800,000 for
tke purpose of providing $600,000 for improving the streets and
constructing necessary permanent drainage facilities, $50,000
for constructing and permanently equipping fire stations within
said City, $100,000 for enlarging and repairing the City's Public
Library, and $50,000 for improving the City's Airport
It is hereby certified and recited that this bond has
been duly and validly voted, authorized, issued, and delivered
in accordance with the Constitution and laws of the State of
Texas, including, as to the Airport bonds, Vernon's Article 46d-9,
that this bond is a general obligation of said City, Issued on
the full faith and credit thereof, and that the ad valorem taxes,
upon all taxable property in said City, necessary to pay the in-
terest on and principal of this bond, as such interest comes due,
a~d such principal ma~ures, have been pledged irrevocably for
such purpose, within the limit prescribed by law
In witness whereof, this bond and the znterest coupons
attached hereto have been signed by the imprznted or lzthographed
faqstmile signature of the Mayor of said City and countersigned
by the imprinted or lithographed facsimzle signature of the Czty
Secretary of said City, and the officzal seal of said City has
been duly impressed, or printed, or lzthographed on thzs bond.
City'"Secretary, City of Dento~ Mayor, Czty of Denton
(FORM OF REGISTRATION CERTIFICATE)
COMPTROLLER'S REGISTRATION CERTIFICATE REGISTER NO
I hereby certify that thzs bond has been examzned, cer-
tified as to validity, and approved by the Attorney General of
the State of Texas, and that this bond has been registered by
the Comptroller of Public Accounts of the State of Texas.
Witness my signature and seal this
Comptroller of Publzc Accounts of thJ
State of Texas
(FORM OF INTEREST COUPON)
NO. ....
On 15, 19 , the City of De~ton, in the
County of Denton, State"of Texas, promzses to pay to bearer, the
amount of Dollars, zn lawful money of the
United States of America, without exchange or collectzon charges
to the bearer, upon presentatzon and mrrender of thzs znterest
coupon, at The First Natzonal City Bank of New York, New York,New
York, or,aC the optzon of the bearer, at the FzrsC National Bank in
Dallas, Dallas, Texas, sazd amount being interest due that day
on the bond, bearing the number hereznafter deszgnated, of that
issue of City of Denton General Obligation Bonds, Serzes 1964,
dated July 15, 1964. Bond No
City Secretary Mayor
PERTAINING TO THE PARK IMPROVEMENT BONDS.
Section 4 That sazd Czty's coupon bonds to be
designated the "City of Denton Park Improvement Bonds, Series
11964", are hereby authorized to be ~ssued and delivered zn
accordance with the Constztutzon and laws of the State of Texas
in the principal amount of $200,000 for the purpose of purchas-
ing and improving land for park purposes
Section 5 That sazd bonds shall be dated July 15,
1964, shall be numbered consecutively from 1 through 40, shall
be in the denomination of $5,000 each, and shall mature and be-
come due and payable serially on July 15 zn each of the years,
and in the amounts, respectively, as set forth in the following
schedule
YEARS AMOUNTS YEARS AMOUN.T~
1965 $10,000 1974 $10,000
1966 10,000 1975 10,000
1967 10,000 1976 10,000
1968 10,000 1977 10,000
1969 10,000 1978 10,000
1970 10,000 1979 15,000
1971 10,000 1980 15,000
1972 10,000 1981 15,000
1973 10,000 1982 15,000
Section 6. That the form of said bonds, zncluding the
fo~m of Registration Certifzcate of the Comptroller of Public
Accounts of the State of Texas to be printed and endorsed on each
bond, and the form of the interest coupons to be attached to said
bonds, shall be, respectively, substantially as follows.
' (FO M OF BOND)
NO, $5,000
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF DENTON
CITY OF DENTON PARK IMPROVEMENT BOND
SERIES 1964
On July 15, 19__, the C~ty of Denton, zn 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 znterest coupons payable January
1-~, 1965, and semi-annually thereafter on each July 15 and January
15 while this bond zs outstandzng The prznc~pal of th~s bond and
the interest coupons attached hereto shall be payable to bearer,
in lawful money of the Unzted States of Amerzca, without exchange
or collection charges to the bearer, upon presentation and sur-
render of this bond or proper znterest coupon, at The First
National City Bank of New York, New York, New York, or, at the
option of the bearer, at the Fzrst National Bank in Dallas, Dallas,
Texas, which places shall be the payzng agents for this Serzes of
bonds
This bond is one of a Serzes of coupon bonds dated
July 15, 1964, issued in the principal amount of $200,000 for
the purpose of purchasing and zmprovzng land for park purposes
It zs hereby certified and reczted that thzs bond has
been duly and validly voted, authorzzed, zssued, and delivered
in accordance with the Constitutzon and laws of the State of Texas,
that this bond is a general oblzgatzon of sazd Czty, zssued on
the full faith and credit thereof, and that the ad valorem taxes,
upon all taxable property in said/Czty, necessary to pay the in-
terest on and principal of this bond, as such znterest comes due,
and such principal matures, have been pledged irrevocably for
such purpose, within the limit prescribed by law
In witness whereof, this bond and the interest coupons
at~ached hereto have been signed by the imprinted or lithographed
facsimile signature of the Mayor of said City and countersigned
by the imprinted or lithographed facsimile signature of the City
Secretary of said City, and the offzcial seal of said City has
been duly impressed, or printed, or lithographed on this bond
City Secretary, City of Dent'o~' Mayor, City of Denton
(FORM OF REGISTRATION CERTIFICATE)
COMPTROLLER'S REGISTRATION CERTIFICATE REGISTER NO.
I hereby certify that th~s bond has been examzned, cer-
tified as to validity, and approved by the Attorney General of
the State of Texas, and that this bond has been registered by
the Comptroller of Public Accounts of the State of Texas.
Witness my signatur~ and seal this
Comptroller of Publzc Accounts of the
State of Texas
(FORM OF INTEREST COUPON)
NO. $
On 15, 19 , the City of Denton, in the
County of Denton, State of Texas, promises to pay to bearer, the
amount of Dollars, in lawful money of the
United States of America, without exchange or collection charges
to the bearer, upon presentation and surrender of this interest
coupon, at The First National City Bank of New York, New York,New
York, or,at the option of the bearer,at the First Natxonal Bank in
Dallas, Dallas, Texas, said amount bezng interest due that day
on the bond, bearing the number hereznafter designated, of that
issue of City of Denton Park Improvement Bonds, Series 1964,
dated July 15, 1964. Bond No. ·
' City Secretary Mayor
PERTAINING TO BOTH SERIES OF BONDS
Section 7. That said bonds shall bear interest from
their date, until maturity, at the following rates.
all bonds scheduled to mature durzng the years
1965 through 1969 ....... 5% per annum,
all bonds scheduled to mature during the years
1970 through 1975 ....... 3% per annum,
all bonds scheduled to mature during the years
1976 through 1978 ....... 3 10 % per annum,
all bonds scheduled to mature during the years
1979 and 1980 ........... 3 15 % per annum,
all bonds scheduled to mature during the years
1981 and 1982 ........... 3 20 % per annum,
with said interest to be evidenced by interest coupons payable on
January 15, 1965, and semi-annually thereafter on each July 15
and January 15
Section 8. That the principal of and interest on said
bonds shall be payable to bearer, in lawful money of the United
S~aCes of America, w~thout exchange or collec~ton~charges to the
bearer, upon presentation and surrender of proper bond or interest
coupon, at The First National City Bank of New York, New York,New
York, or, at the option of the bearer, at the First National Bank
in Dallas, Dallas, Texas, whmch places shall be the paying agents
for said bonds.
Section 9o That each of said bonds and interest
coupons shall be signed by the imprinted or llthographed fac-
simile signature of the Mayor of said City and countersigned by
the imprinted or lithographed facsimile signature of the City
Secretary of said City, and the offmcmal seal of said City shall
be impressed, or printed, or llthographed on each of said bonds.
Section 10. That the following special funds or
accounts are hereby created and shall be established and mamntamn-
ed by said City at its official depository bank, to be designated
"Gity of Denton General Oblmgatmon Bonds, Series
1964, Interest and Sinking Fund", and
"City of Denton Park Improvement Bonds, Series 1964,
Interest and Sinking Fund"°
Said Interest and Smnktng Funds, respectively, shall be kept
separate and apart from each other and from all other funds and
accounts of said City, and shall be used only for paying the in-
terest on and principal of each of samd Series of ~onds, respect-
ively. All taxes~evled and collected for and on account of each
of said Series of bonds, respectmvely, shall be deposited, as
collected, to the credit of the applicable one of the aforesaid
Interest and Sinking Funds During each year while any of said
bonds or interest coupons appertaining thereto are outstanding
and unpaid, the City Councml of said Cmty shall compute and
ascertain the rate and amount of ad valorem tax, based on the
latest approved tax rolls of said City, with full allowances be-
mng made for tax delinquencies and costs of tax collections, whmch
will be sufficient to raise and produce the money requmred to pay
the interest on each of said Series of bonds as such interest
comes due, and to provide a sinking fund to pay the principal of
each of said Series of bonds as such principal matures, but never
less than 2% of the origmnal prmncmpal amount of each of samd
Series of said bonds as a sinking fund each year Said rate and
amount of ad valorem tax is hereby ordered to be levied and ms
hereby levied agamnst all taxable property mn said City for each
year while any of said bonds or interest coupons appertainmng
thereto are outstanding and unpaid, and said ad valorem tax shall
be assessed and collected each such year and deposmted ~o the
credit of the applicable one of the aforesaid Interest and Slnkmng
Funds. Said ad valorem taxes necessary to pay the interest on
and principal of each of said series of bonds, as such interest
comes due, and such principal matures, are hereby pledged irre-
vocably for such purpose, within the limits prescribed by law.
Section 11o That the Mayor of sazd Czty is hereby
authorized to have control of said bonds and all necessary records
and proceedings pertaining to said bonds pending their delivery
and their investigation, examination, and approval by the Attorney
General of the State of Texas, and their registratzon by the
Comptroller of Public Accounts of the State of Texas. Upon regzs-
tration of said bonds, said Comptroller of Public Accounts (or
a deputy designated tn writing to act for said Comptroller) shall
manually sign the Gomptroller's Kegistration Certificate prescrib-
ed'herein to be printed and endorsed on each bond, and the seal
of isaid Comptroller shall be impressed, or printed, or lithograph-
ed on each of said bonds.
Section 12. That said bonds are hereby sold, in accor-
dance with law, and shall be delivered, to a syndicate managed
by Rowles, Winston & Co., Inc., Houston, Texas, for the przncipal
amount thereof and accrued interest to the date of delivery., plus
a premium of $37.78 o
GENERAL CERTIFICATE
THE STATE OF TEXAS '
COUNTY OF DENTON .
GITY OF DENTON .
We, the undersigned, hereby officially certify that we
are the Mayor and City Secretary, respectively, of said City, and
we further certify as follows
1o That said City is a duly incorporated Hom~ Rule City,
having more than 5000 inhabitants, operating and existing under
the Constitution and laws of the State of Texas and the duly
adopted Home Rule Charter of said City, which Charter has not
been changed or amended since the passage of the ordinance
authorizing the issuance of the most recently dated, issued, and
outstanding bonds of said City shown on "Exhibit A," which
attached hereto°
2. That no litigation of any nature has ever been
filed pertaining to, affecting, or contesting (a) the election
which authorized the proposed City of Denton General Obll§atlon
Bonds, Series 1964, dated July 15, 1964, in the principal amount
of $800,000, and City of Denton Park Improvement Bonds, Series
1964, dated July 15, 1964, in the principal amount of $200,000
(b) the issuance, delivery, payment, security, or validity of
said proposed bonds, (c) the title of the present members and
officers of the Gity Council of said City to their respective
offices, or (d) the validity of the corporate existence, the
current Tax Rolls, or the Charter of said City, and that no
gation is pending pertaining to, affecting, or contesting the
boundaries of said City.
3. That attached hereto, and marked "Exhibit A", which
shall be a part hereof for all purposes, is a true, full, and
correct schedule and statement of the aforesaid proposed bonds,
and of the total presently outstanding bond, warrant and other
indebtedness of said City
4. That the currently effective ad valorem Tax Rolls
of said City are those for the year 1963, being the most recently
approve4 Tax Rolls of said City, that the City Council of said
City has caused the taxable property in said City to be assessed
as required by law, that the Board of Equalization of said City
has equalized and approved the valuation of taxable property
said City for said year, that the Tax Assessor of said City has
duly verified the aforesaid Tax Rolls, and said Board of Equali-
zation has finally approved the same, that the valuation of tax-
able property in said City for said year, according to the afore-
sa~d Tax Rolls, as delivered to the City Secretary of said City,
and finally approved and recorded by the City Council of said
City is $43,336,240.
SIGNED AND SEALED this the 9th day of June, 1964
City Secretary Mayor
(S L)
"EXHIBIT A"
General Obligatmon Bonds, Series 1964, dated 7/15/64, to be out-
standing in the principal amount of $800,000, bearzng mnterest,
and maturing as set forth mn the Ordinance authorzzing samd bonds.
Park Improvement Bonds, Series 1964, dated 7/15/64, to be out-
standing in the princmpal amount of $200,000, bearing interest,
and maturing as set forth mn the Ordznance authorlzzng said bonds.
Bridge Construction Bonds, Series 1927, dated 1/1/27, now out-
standing in the principal amount of $3,000, bearing mnterest,
and maturing in the amounts on January 1 of the years, as follows
5%. 1M-65/67.
City Hall Bonds, Series 1927, dated 1/1/27, now outstandzng zn
the principal amount of $8,000, bearmng mnterest, and maturmng
in the amounts on January 1 of the years, as follows
5% 2M-65, 3M'66/67
Fire Station Improvement Bonds, Series 1929, dated 7/1/29, now
outstanding in the principal amount of $7,000, bearing mnterest,
and maturing in the amounts on July 1 of the years, as follows
5% 1M-64/68, 2M-69o
Park Purchase and Improvement Bonds, Serzes 2, dated 7/1/29, now
outstanding in the principal amount of $6,000, bearing interest,
and maturing in the amounts on July 1 of the years, as follows
5% 1M-64/69.
Street Improvement Bonds, Series 1929, dated 7/1/29, now out-
standing in the principal amount of $12,000, bearmng znterest,
and maturing in the amounts on July 1 of the years, as follows
5% 2M-64/69.
Airport Purchase and Constructmon Bonds, Series 1942, dated
1/15/42, now outstanding zn the princmpal amount of $10,000, bear-
ing interest, and maturing mn the amounts on Aprzl 15 of the years,
as follows
2%% 5M-65/66
Street Improvement Bonds, Serzes 1946, dated 11/1/46, now out-
standing in the principal amount of $62,000, bearing mnterest, and
maturing in the amounts on May 1 of the years, as follows
2~% 31M-65/66
Fire Equipment Bonds, Sermes 1946, dated 11/1/46, now outstandmng
in the principal amount of $6,000, bearmng mnterest, and maturmng
in the amounts on May 1 of the years, as follows
Park Improvement Bonds, Series 1946, dated 11/1/46, now outstand-
and
lngI in the principal amount of $3,000, bearing interest,
maturing in the amounts on May 1 of the years, as follows
2%% 1M-65, 2M-66
Library Building Bonds, Series 1947, dated 11/1/47, now outstand-
ing in the principal amount of $50,000, bearing Interest, and
maturing in the amounts on May 1 of the years, as follows
, 2%% 25M-68/69.
Street Improvement Bonds, Serzes 1948, dated 3/1/48, now outstand-
Ing in the principal amount of $150,000, bearing interest, and
maturing in the amounts on March 1 of the years, as follows
3%%: 25M-68/69, 50M-70/71.
Hospital Bonds, Serzes 1948, dated 3/1/48, now outstanding in the
principal amount of $51,000, bearzng interest, and maturing zn
the amounts on March 1 of the years, as follows
3% 3M-65/66,
-3%% 45M-67
Improvement Warrants, Series 1955, dated 11/1/55, now outstandzng
in the principal amount of $4,000, bearing znterest, and maturing
in the amounts on March 1 of the years, as follows
3%. 4M-65
General Obligation Bonds, Serzes 1960, dated 7/15/60, now out-
s~anding in the principal amount of $540,000, beazzng znterest,
and maturing in the amounts on July 15 of the years, as follows,
5%. 20M-64/65, 25M-66,
3%% 25M-67/72,
3-3/4%. 25M-73/78,
3.85% 25M-79/85
Street Improvement Bonds, Series 1962, dated 3/15/62, now out-
s~andtng in the principal amount of $460,000, bearzng interest,
and maturing in the amounts on March 15 of the years, as follows
3-1/8% 20M-65/69,
2-3/4% 20M-70/74,
3% 20M-75/78,
3-1/8% 20M-79/83,
3°20%. 20M-84/87o
General Obligatzon Bonds, Serzes 1963, dated 3/15/63, now out-
standing in the principal amount of $480,000, bearzng znterest,
and maturing zn the amounts on March 15 of the years, as follows°
2~% 20M-65/71,
3% 20M-72/80,
3.20% 2014-81/86,
3.25%. 20M-87/88.
CERTIFICATE FOR TAX BOND ORDINANC~
TH~ STATE OF TEXAS
COUNTY OF DENTON ·
CITY OF DENTON
We, the undersigned, Mayor and City Secretary, respect-
ively, of said City, hereby certify as follows
1 That the attached and following is a true, full,
and correct copy of an Ordinance Authorizing the Issuance of Tax
Bonds duly passed by the City Council of said City at a Regular
Meeting held at the regular meeting place on the 9th day of June,
1964, which Ordinance has been duly recorded zn the minutes of
said City Council
2. That the following are the members and officers of
said City Council
Warren Whitson, Jr Mayor
Tom W Laney Allen Self Councilmen,
Ray E Lagleder H R Pemberton
Brooks Holt City Secretary
and all said persons were present at the time of passage of said
Ordinance except the following absentees ~
3 That said Ordinance was introduced for the con-
sideration of said City Council by its presidxng officer and
read in full, and upon motion duly made and seconded, said Or-
dinance was passed by the following vote
AYES Ail Councilmen present voted "Aye"
NOES None
4 That each of the members and officers of sazd City
Council was duly and sufficiently notified officially and per-
sonally, in advance, of the time, place, and purpose of the
aforesaid Meeting, and that sazd Ordinance would be introduced
and considered for passage atsaid Meeting, and each of said
members and officers consented, in advance, to the holding of
said Meeting for such purpose
5 That the Mayor of said City has approved, and
hereby approves, said Ordinance, that the Mayor and the City
Secretary of said City have duly signed sazd Ordinance, and that
said Mayor and City Secretary hereby declare that their signing
of this Certificate shall constitute the signing of the attached
and following copy of said Ordinance for all purposes
ff~ SIGNED AND SEALED this the 9th day of June, 1964
~/' City Secretary Mayor
(SEAL) ..............................................
I, the undersigned, City Attorney of the Czty of
Denton, Texas, hereby certify that I approved as to legality
the attached and following Ordinance pri~r to its passage as
City Attorney