Ord. 0109 1965-03-25CA7V1 I
it
AN ORDINANCE AUTHOR.IZ.NG GIVING OF NOTICE OF INTEN-
TION OF ISSUING REFUNDING BONDS; PROVIDING THE DETAILS
RELATING THERETO; AND PROVIDING THAT THIS ORDINANCE
SHALL TAKE EFFECT ON AND AFTER. ITS PASSAGE
THE STATE OF TEXAS §
COUNTY OF BRAZORIA §
The City Council of the City of Pear.land, Texas, convened in
regular session at the City Hall within said City on the 25th day of
March, 1965, with the following members present, to -wit:
John G. Kegley
Thomas F. Alexander
Victor A. Nolen
Steve A. Shukanes
Gene E. Sanders
Mayor.
Alderman
Alderman
Alderman
Alderman
and the following member(s) absent, to-wit:4All\Aik
when the following business was transacted:
The Mayor introduced an ordinance which was read in full.
Alderma
made a motion that the ordinance be
adopted as read. Alderman �seconded the motion
for adoption of the ordinance. The motion; carrying with it the
adoption of the ordinance, prevailed by the following vote:
AYES: Aldermen Alexander, Nolen, Shukanes, Sanders
and 8aaains, and Mayor. Kegley.
NOES: None
The Mayor thereupon announced that the motion had duly and
lawfully carried, and that the ordinance had been duly and lawfully
adopted. The ordinance thus adopted follows:
AN ORDINANCE AUTHORIZING GIVING OF NOTICE OF INTEN-
TION OF ISSUING RE.FU.NDING BONDS; PROVIDING THE DETAILS
RELATING THERETO; AND PROVIDING THAT THIS ORDINANCE
SHALL TAKE EFFECT ON AND AFTER. ITS PASSAGE
WHEREAS, the City Council of the City of Pearland, Texas, has
heretofore adopted an ordinance authorizing the issuance of the follow-
ing described time warrants, respectively, to -wit:
CITY OF P.EARLAN.D, TEXAS, WATERWORKS SYSTEM TIME
WARRANTS, SERIES 1964, dated June 15, 1964,
numbered from 1 to 110, both inclusive, in the
denomination of 55,000 each, aggregating S110,000,
bearing interest at the rate of 5/ per annum, and
maturing serially in each of the years 1985 to 1994,
both inclusive, as follows:
S10,000 6-15-1985/92
15,000 1993/94
for the purpose of evidencing the indebtedness of said City for all or
any part of the cost of constructing permanent improvements, additions
and extensions to the City of Pearland, Texas, Waterworks System,
including personal and professional services to be rendered, in con-
nection therewith and other incidental expenses in connection therewith;
and
WHEREAS, thereafter on the 21st day of December, 1964, said
City Council adpted an ordinance authorizing the delivery of warrants
numbers 1 to 105, both inclusive, aggregating
105,000, and providing
that warrants numbers 106 to 110, both inclusive, aggregating $5,000,
should never be executed or issued; and
WHEREAS, the said
105,000 warrants, numbers 1 to 105, both
inclusive, were issued in accordance with said ordinance and the same
are now outstanding, and the owners and holders of said
105,000
warrants have agreed. to surrender same in exchange for the refunding
bonds hereinafter described; Therefore
TEXAS;
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF PEARLAND,
Section 1: That the City Secretary of the City of Pearland,
Texas, is hereby authorized and directed to cause a notice in sub-
stantially the following form to be published at least once a week
for three (3) successive weeks in a newspaper of general circulation
within said City, the first publication to be at least thirty (30)
days before the meeting of the City Council at which it is proposed
to authorize such refunding bonds, to -wit
NOTICE OF IN'TENT.ION TO .ISSUE
CITY OF PEARLAND WATERWORKS SYSTEM REFUNDING BONDS
TO THE QUALIFIED PROPERTY TAXPAYING VOTERS OF THE CITY OF PEARLAND,
TEXAS, AND TO ALL INTERESTED PERSONS:
NOTICE IS HEREBY GIVEN that it is the intention of the City
Council of the City of Pearland, Texas, on the 3rd day of May, 1965,
to authorize the issuance of the refunding bonds of the City of
Pearland, Texas, in the maximum amount of
105,000, bearing interest
at a rate not to exceed 4-1/2% per annum, and payable with maximum
maturity date not exceeding 1994, said bonds to be issued for the
purpose of refunding, canceling and in lieu of a like principal
amount of said City°s Waterworks System Time Warrants, Series 1964,
dated June 15, 1964, numbered from 1 to 105, both inclusive, aggre-
gating
105,000, bearing interest at the rate of 5%,
BY ORDER OF THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS,
City Secretary
Section 2 That this ordinance shall take effect from and
after its passage,
PASSED AITD APPROVED this 25th day of March, 1965.
, City of Pea.rla
ATTEST
City Secretary
(SEAL)