1964-028 ORDINANCE NO. 64-28 AUTHORIZING THE ISSUANCE OF REVENUE BONDS
THE' STATE OF TEXAS
COUNTY OF DENTON
CITY OF DENTON
WHEREAS, the bonds hereznafter authorized were duly
and favorably voted, as required by the Constitution and laws of
the Sta~e of Texas, at an election held in said City on the 30th
day of January, 1960, and
WHEREAS, out of the bonds voted at said election, the
following previously have been issued and delivered
$1,235,000 out of a voted total of $2,600,000, for
the purpose of zmproving and extending
the City's Sewer System, represented by
part of the bonds of Series 1960 and
Series 1962, and
WHEREAS, the bonds hereinafter authorized are to be
issued and delivered pursuant to Vernon's Articles ~1111 through
1118, and said City's Home Rule Charter
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS
Section 1. That said Czty's coupon bonds to be
designated the "City of Denton Water and Sewer System Revenue
Bonds, Series 1964," are hereby authorzzed to be zssued and de-
livered in accordance wzth the Constztution and laws of the State
or,Texas in the principal amount of $250,000 for the purpose of
improving and extending the City's Sewer System
Section 2. That said bonds shall be dated July 15,
1964, shall be numbered consecutively from 1 through 50, 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, respectzvely, as set forth in the following
schedule.
YEARS. AMOUNTS YEAR~ AMOUNTS
1965 $15,000 1975 $10,000
1966 15,000 1976 10,000
1967 15,000 1977 10,000
1968 15,000 1978 10,000
1969 15,000 1979 10,000
1970 15,000 1980 10,000
1971 15,000 1981 10,000
, 1972 15,000 1982 10,000
1973 15,000 1983 10,000
1974 15,000 1984 10,000
Section 3 That said bonds shall bear znterest from
their date, until maturity, at the following rates
all bonds scheduled to mature during the years
1965 through 1967 ....... 5% per annum,
all bonds scheduled to mature durzng the years
1968 through 1974 ....... 3% per annum,
all bonds scheduled to mature during the years
1975 through 1979 ....... 3-1/4% per annum,
all bonds scheduled to mature during the years
1980 through 1982 ....... 3.35 % per annum,
all bonds scheduled to mature during the years
1983 and 1984 ........... 3 40 % 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 4. That the principal of and interest on said
bonds shall be payable to bearer, in lawful money of the Unzted
States of America, without exchange or collection charges to the
bearer, upon presentation and surrender of proper bond or inter-
est coupon, at The First National Czty Bank of New York, New
York, New York, or, at the option of the bearer, at the First
National Bank zn Dallas, Dallas, Texas, which places shall be
the paying agents for said bonds.
Section 5. That each of said bonds and interest cou-
pons shall be szgned by the imprlnted or lithographed facsimile
signature of the Mayor of said City and countersigned by the
imprinted or lithographed facs~mlle signature of the City Secre-
tary of said City, and the offzcial seal of said City shall be
impressed, or printed, or lithographed on each of said bonds.
Section 6. That the form of sazd bonds, including the
form of Registration Certzficate of the Comptroller of Publzc
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)
NOo $5,000
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTY OF DENTON
CITY OF DENTON WATER AND SEWER SYSTEM REVENUE 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 DOLLARS
and to pay interest thereon, from the date hereof, at the rate of
% per annum, evidenced by interest coupons payable January
15, 1965, 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~ wzthout
exchange or collection charges to the bearer, upon presentation
and surrender 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.
Thzs bond is one of a Serzes of coupon bonds dated
July 15, 1964, zssued zn the przncipal amount of $250,000 for the
purpose of improving and extendzng the City's Sewer System
It zs hereby certzfzed and reczted that thzs bond has
been duly and valzdly voted, authorized, zssued, and delzvered
zn accordance with the Constitution and laws of the State of
Texas, and that the interest on and prznczpal of th~s bond, and
the Serzes of whzch it zs a part, together with other outstand-
zng water and sewer system revenue bonds of sazd Czty, are secur-
ed by and payable from a fzrst lzen on and pledge of the Net
Revenues of sazd Czty's Water and Sewer System.
Said Czty has reserved the rzght, suboect to the
restrictions stated, or adopted by reference, zn the Ordinance
authorizing thzs Series of bonds, to issue additzonal parity
revenue bonds which also may be secured by and made payable from
a f~rst lien on and pledge of the Net Revenues of sazd C~ty's
Water and Sewer System
The holder hereof shall never have the rmght to demand
payment of thzs obligatzon out of any funds razsed or to be
raised by taxation
In witness whereof, this bond and the mnterest coupons
a~tached hereto have been szgned by the mmprznted or lithograph-
ed facstmzle signature of the Mayor of said Czty and counterszgn-
ed by the imprinted or llthographed facsimile szgnature of the
City Secretary of sald City, and the offzclal seal of said Czty
has been duly impressed, or printed, or llthographed on th~s
bond°
City Secretary, C~ty of Denton Mayor, Czty of Denton
(FORM OF REGISTRATION CERTIFICATE)
COMPTROLLER'S REGISTRATION CERTIFICATE REGISTER NOo
I hereby certzfy that thzs bond has been examzned,
certifzed as to valzdity, and approved by theAttorney General
of the State of Texas, and that thzs bond has been registered
by the Comptroller of Publzc Accounts of the State of Texas
Witness my szgnature and seal th~s
Comptroller of Publzc Accounts of
the State of Texas
(FORM OF INTEREST COUPON)
NO. $
On 15, 19__, the Czty of Denton, zn the
County of Denton, State of Texas, promzses to pay to bearer,
the amount of Dollars, in lawful
money of the United States of Amerzca, wzthout exchange or
collection charges to the bearer, upon presentatzon and surrender
of thzs znterest coupon, at The Fzrst Natzonal Czty Bank of New
York, New York, New York, or, at the optzon of the bearer, at the
Fzrst National Bank zn Dallas, Dallas, Texas, sazd amount bezng
interest due that day on the bond, bearzng the number hereinafter
designated, of that issue of Czty of Denton Water and Sewer System
Revenue Bonds, serzes 1964, dated July 15, 1964 The holder here-
of shall never have the rzght to demand payment of this oblzgatzon
out of any funds raised or to be raised by taxation Bond No
City Secretary Mayor
Sectzon 7 That the term "Outstandzng Bonds," as used
herein, shall mean the outstanding bonds of the followzng issues
of said City
Water and Sewer System Revenue Bonds, Series 1960,
authorzzed by ordznance dated July 12, 1960,
Water and Sewer System Revenue Bonds, Serzes 1962,
authorized by ordznance dated March 27, 1962
~ The Ser~es 1964 Bonds authorzzed hereby are parzty "Addztzonal
!Bonds" as defined and permztted zn the aforesazd ordinance dated
~ July 12, 1960, and Sectzons 9 through 25 of sazd ordinance are
adopted by reference and shall be applzcable to sazd Serzes 1964
. Bonds for all purposes, except to the extent hereznafter speczfz-
cally modified and supplemented The Serzes 1964 Bonds and the
Outstandzng Bonds are and shall be secured by and payable from a
first lien on and pledge of the Net Revenues of sazd Czty's Water
and Sewer System, and all of sazd oblzgatzons shall be on a parzty
~ and of equal d~gnzty in all respects
Sectzon 8 That, in addztzon to all other amounts re-
~quired by the ordznances, respectzvely, authorzzzng the Oustand-
zng Bonds, there shall be deposzted znto the Interest and Sznkzng
~Fund, created for the benefzt of sazd Outstandzng Bonds and all
Additional Bonds, the following
(a) such amounts, in equal monthly znstallments,
made on or before the last day of each month hereafter,
as will be sufficzent to pay the znterest scheduled to
come due on said Serzes 1964 Bonds on the next znterest
payment date, and
(b) such amounts, zn equal monthly znstallments,
made on or before the last day of each month hereafter,
as will be suffzczent to pay the next maturzng prznczpal
of sazd Series 1964 Bonds
Sectzon 9 That, zn addztzon to all other amounts re-
quired by the ordznances, respectzvely, authorzzzng the Outstand-
zng Bonds, there shall be deposzted znto the Reserve Fund, creat-
ed for the benefit of said Outstandzng Bonds and all Addztzonal
Bonds, on or before the last day of each month hereafter, the sum
of at least $150 until the aggregate amount of $178,600 shall have
been accumulated in said Reserve Fund. Thereafter sazd aggregate
amount shall be maintained therein, for the benefit of the Out-
standing Bonds, the Series 1964 Bonds, and all Additional Bonds~
in~accordance with the procedures, as herein modified and supple-
mented, set forth in the ordinances authorzzing the Outstandlng
Bonds.
Section 10. That said bonds are and shall be special
obligations of said City, and the holder or holders thereof shall
never have the right to demand payment of said obligatzons out of
any funds raised or ~o be raised by taxation
Section 11. 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 pendzng their delivery
and their investigation, examination, and approval by the Attorney
General of the State of Texas, and thezr registration by the
Comptroller of Public Accounts of the State of Texas. Upon regzs-
tratton of said bonds, said Comptroller of Publzc Accounts (or a
deputy designated in writing to act for said Comptroller) shall
manually sign the Comptroller's Registratzon Certificate prescrib-
ed ~erein to be printed and endorsed on each bond, and the seal
of said Comptroller shall be impressed, or printed, or lithograph-
ed on each of said bonds.
Section 12. That sazd bonds are hereby sold, in accor-
dance with law~ to Rotan, Mosle & Co , Houston, Texas~ for the
principal amount thereof and accrued interest to the date of
delivery~
GENERAL CERTIFICATE
THE STATE OF TEXAS
COUNTY OF DENTON
CITY OF DENTON
We, the undersigned, hereby offzczally certzfy that we
are the Mayor and City Secretary, respectzvely, of said Czty, and
we further certzfy as follows
1. That said City zs a duly zncorporated Home Rule
City, having more than 5000 znhabztants, operatzng and exzstzng
under the Constitution and laws of the State of Texas and the
duly adopted Home Rule Charter of sazd Czty, whzch Charter has
not been changed or amended sznce the passage of the ordinance
authorzzing the most recently zssued Serzes of outstandzng bonds
listed below zn paragraph 3 hereof.
2. That no lztzgatzon of any nature has ever been
fzled pertaznzng to, affectzng, or contestzng (a) the electzon
which authorized the proposed Czty of Denton Water and Sewer
System Revenue Bonds, Serzes 1964, dated July 15, 1964, in the
principal amount of $250,000, (b) the zssuance, delivery, payment,
security, or valzdzty of sazd proposed bonds, (c) the title of
the present members and offzcers of the Czty Counczl of sazd Czty
to their respective offzces, or (d) the valzdzty of the corporate
existence or the Charter of sazd Czty
3. That none of the revenues or zncome of sazd Czty's
Water and Sewer System have been pledged or encumbered to the
p~yment of any debt or oblzgatzon of sazd Czty or sazd System,
except in connection wzth the aforesazd proposed Series 1964
Bonds, and the outstandzng bonds of the followzng zssues of sazd
City.
Water and Sewer System Revenue Bonds, Serzes 1960,
Water and Sewer System Revenue Bonds, Serzes 1962
4. That the rates bezng charged for water and sewer
service by sazd Czty have not been changed sznce the passage of
the ordinance authorizzng the most recently zssued Serzes of out-
standing bonds lzsted above.
5. That the Interest and Sznkzng Fund and the Reserve
Fund, created and maintained for the benefit of the outstandzng
bonds listed above, zn accordance wzth the ordznances, respect-
ively, authorizing thezr zssuance, each contazns the amount now
required to be on deposzt therezn, wzth such amounts zn each
of said Funds bezng as follows
' (a) Interest and Sinking Fund $7~z ~ ~ ? /~
(b) Reserve Fund $ Z/~? _5~S
and the City is not in default ~n any of the covenants contazned
in the aforesazd ordinances.
SIGNED AND SEALED thzs the 9th day of June, 1964
F City Secretary Mayor
(SF. aL)
CERTIFICATE FOi REVENUE BOND ORDINANCE
THE STATE OF TEXAS
COUNTY OF DENTON
CITY OF DENTON
We, the underszgned~ hayor and City Secretary, respect-
lvely, of said City, hereby certify as fozlows
1 l~at the attached and fol~owCng As a true, full,
and correct copy of an Ordinance Authorizing the Issuance of
Revenue Bonds duly passed by the City Council of said City at a
Regular Meeting held at the regular mcetzng place on the 9th day
of June, 1964, which Ordinance has been duly recorded in the
minutes of said City Council
2 That the following are the -~embers and officers of
said C~ty Council
Warren Whztson, Jr Mayor
Tom W Laney ~len Sei£ Councilmen,
Ray E Laglede£ I' R Pamberton
Brooks ho_- S~y Secretary
and all said persons were prese z az t~a t_ a of passage of said
Ordinance except the following ~osentees
.... ' ~ for t~e con-
3 That sa%a Ora-na~ce w~s ~ ..... ce~
slderation of said C~ty Council sy ±~s p£eslalng ~ and
read in full~ and upon moglon c~ly made and seconced~ said O£-
dl~ance was passed by the = ~ ~ vote
AYES Ail Counc~zme~ ~resent voted "Aye"
NOES
4 That each of ~he ocrs ~ ~ o~ceYs of said City
Councml was duly and suff~c~en~-f ~o~ o~_c~ally and per-
sonally, in advance, of the t~a, p~ace, an~ ~rpose of the
aforesaid Meeting, and that sa~d Ore,hence wc~a be introduced
and considered for passage at sg-a Meea~ng~ aha each of samd
members and officers co~ ~ea ~ &cva~ce~ to the oldlng of
said Meeting for such purpose
5 That the Mayo~ cf s~_~ C_ty as approve~, and
hereby approves, said Ord_nanca~ ~g ~ne Mayor and the City
Secretary of said C~ty have du_y s~gnea said Ora_nance~ and that
sa~d Mayor and City Secre~ry crcsy aeclare t at their slgn~ng
of this Certificate shall cons~_~aa the signing of ~he attached
and following copy of sa~a Oral, ante for all p~r~oses
SIGNED AND SEP~ED tn~s the 9th cay of ~ ~964
~'~' Clty Secretary }'ayor
(SEAL) ......................................
I, the undersmgned~ City Jtto£~ey of the C~ty of
Denton, Texas, hereby certify nhat 1 aporoved as to legality
t~e attached and following Ordinance prior ~o its passage as