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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