R76-26 11-22-76rTh
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
The City Council of the City of Pearland, Texas, convened
in regular meeting, open to the public, on the 22nd day of
November, 1976, at the City Hall, and the roll ,was called of
the duly constituted officers and members of the City Council
and the City Secretary of the City, to -wit:
Carlton McComb
Tom Reid
Cecil W. Griffin
Harry Farley
Terry Gray
Benny J. Frank
Dorothy L. Cook
and all of said persons were
sentees: Mayor Carlton McComb
thus constituting a quorum.
.the following was transacted
lution entitled:
Mayor
Councilman and
Mayor Pro Tem
Councilman
Councilman
Councilman
Councilman
City Secretary
present, except the following ah-
Whereupon, among other business,
at said meeting: a writtenyreso-
RESOLUTION RELATING TO
CERTIFICATES OF OBLIGATION, SERIES 1976-A
(the "Resolution") was duly introduced for the consideration
of the City Council and reviewed in full. It was then duly
moved and seconded that the Resolution be passed; and, after
due discussion, the motion, carrying with it the passage of
the Resolution, prevailed and carried by the following vote:
AYES: All members of the City Council shown
present above voted "Aye".
NOES: None.
The Mayor thereupon announced that the Resolution had been duly
and lawfully adopted. The Resolution thus adopted follows: ,
RESOLUTION RELATING TO
CERTIFICATES OF OBLIGATION, SERIES 1976-A
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
WHEREAS, on June 14, 1976, the City Council of the City
of Pearland, Texas, authorized publication of notice to bidders
and notice of intention to issue $195,000 City of Pearland,
Texas, Certificates of Obligation, Series 1976-A; and
WHEREAS, such notice was duly given and an ordinance duly
authorizing the issuance of said certificates was adopted, but
such ordinance recited that such certificates were to be assigned
to Underwood, Neuhaus & Co., Incorporated, Houston, Texas, in-
stead of Pearland State Bank, Pearland, Texas; and
WHEREAS, the resolution adopted November 8, 1976, and re-
lated delivery papers executed relating to Certificates Nos. 1
through 24 and Claim No. 1 of Chennault Materials, Inc. refer
to Underwood, Neuhaus & Co., Incorporated, instead of said
bank; and
WHEREAS, Underwood, Neuhaus & Co., Incorporated, solely
to permit payment of such claim, has pro forma assigned its
rights (such company having none) to Certificates Nos. 1 to 24
to Pearland State Bank, which bank has in fact paid Chennault
Materials, Inc., $24,000.00 in cash, is entitled to and has
received such Certificates Nos. 1 through 24; and
WHEREAS, this City Council wishes to ratify, adopt and con-
firm all said proceedings and assignment whereby Pearland State
Bank is the proper assignee and holder of such Certificates
Nos. 1 to 24, and such bank shall be the assignee of the re-
maining Certificates of said Series 1976-A Certificates;
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PEARLAND, TEXAS THAT:
Section 1. All the matters and facts contained in the
preamble of this resolution are hereby found and declared to
be true and correct.
Section 2. All acts of the City Council of the City of
Pearland, Texas, Underwood, Neuhaus & Co., Incorporated, and
Pearland State Bank, Pearland, Texas, relating to the assignment
of claim and delivery of Certificates Nos. 1 to 24 mentioned
in the preamble of this resolution are hereby in all things
ratified, approved, adopted and confirmed.
Section 3. Future claims to be paid by the issuance of
the Series 1976-A Certificates mentioned in the preamble hereof
shall be assigned without discount to Pearland State Bank,
Pearland, Texas.
PASSED AND APPROVED this 22nd day of November, 1976.
ATTEST:
Mayor PRO TEM
CITY OF PEARLAND, TEXAS.
City Secret :t y
CITY OF P '` LAND, TEXAS
(SEAL)
-2-
•
CERTIFICATE FOR RESOLUTION RELATING TO
CERTIFICATES OF OBLIGATION, SERIES 1976-A
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
We, the undersigned officers of the CITY OF PEARLAND,
TEXAS (the "City") , do hereby certify as follows :
1 . That we are the duly chosen, qualified and acting
officers of the City for the offices shown below our signatures
and that as such we are familiar with the facts herein certified .
2 . That there is attached to and follows this certificate
an- excerpt of proceedings from the minutes of a meeting of the
City Council of the City (the "City Council" ) which is a true ,
full and complete excerpt of all proceedings from the minutes of
the City Council pertaining to the adoption of the resolution de-
scribed therein; and that the persons named in such excerpt as
the officers and members of the City Council or as officers of
the City are the duly chosen, qualified and acting officers and
members as indicated therein.
3 . That a true and complete copy of the resolution (the
"Resolution" ) , as adopted at the meeting described in such excerpt
from the minutes, is attached to and follows such excerpt .
4 . That the Resolution has been duly and lawfully adopted
by the City Council and that the Mayor of the City has approved,
• and hereby approves, the Resolution; that the Mayor and the City
Secretary of the City have duly signed and attested the Resolution
and each, respectively, hereby declares that the signing of this
certificate shall also constitute the signing of the Resolution
for all purposes ; and that the Resolution, as signed, has been
duly recorded in the minutes of the City Council for such meeting.
5 . That each of the officers and members of the City
Council was duly and sufficiently notified officially and per-
sonally, in advance, of the date, hour, place and subject of
such meeting of the City Council, and that the Resolution would
be introduced and considered for passage at such meeting, and
each of such officers and members consented, in advance, to the
holding of such meeting to consider and ac.t upon such subject .
6 . That written notice of the meeting of the City Council
described in the excerpt from the minutes was posted in the form
and manner required by law; and that such meeting was open to the
public as required by law at all •times during which the Resolution
and the subject matter thereof were discussed, considered and
formally acted upon, all as required by the Open Meetings Act ,
Article 6252-17 , Vernon' s Texas Civil Statutes , as amended .
SIGNED AND SEALED this 22nd day of November, 76 .
City S cretary Mayor
Pro-Tern
(SEAL) -
•
THE STATE OF. TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
The City Council of the City of Pearland, Texas, convened
in regular meeting, open to the public , on the 22nd day of
November, 1976, at the City Hall, and the roll was called of
the duly constituted officers and members of the City Council
and the City Secretary of the City, to-wit :
Carlton McComb Mayor
Tom Reid Councilman and
Mayor Pro Tem
Cecil W. Griffin Councilman
Harry Farley Councilman
•
Terry Gray Councilman
Benny J . Frank Councilman
Dorothy L. Cook City Secretary
and all of said persons were present , except- � the following ab-
sentees : / /-)ce ( , d �� ;� 3
thus constituting a quorum. Whereupon, among other .i. siness,
the following was transacted at said meeting: a written reso-
lution entitled :
RESOLUTION RELATING TO
CERTIFICATES OF OBLIGATION, SERIES 1976-A
(the "Resolution" ) was duly introduced for the consideration
of the City Council and reviewed in full. It was then duly
moved and seconded that the Resolution be passed; and, after
due discussion, the motion, carrying with it the passage of
the Resolution, prevailed and carried by the following vote :
AYES : All members of the City Council shown
present above voted "Aye" .
NOES : None .
The Mayor thereupon announced that the Resolution had been duly
and lawfully adopted . The Resolution thus adopted follows :
P _ y
0 �1
AA,
RESOLUTION RELATING TO
CERTIFICATES OF OBLIGATION, SERIES 1976-A
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
WHEREAS, on June 14, 1976, the City Council of the City
of Pearland, Texas, authorized publication of notice to bidders
and notice of intention to issue $195, 000 City of Pearland,
Texas, Certificates of Obligation, Series 1976-A; and
WHEREAS, such notice was duly given and an ordinance duly
authorizing the issuance of said certificates was adopted, but
such ordinance recited that such certificates were to be assigned
to Underwood, Neuhaus & Co . , Incorporated, Houston, Texas, in-
stead of Pearland State Bank, Pearland, Texas ; and
WHEREAS, the resolution adopted November 8 , 1976, and re-
lated delivery papers executed relating to Certificates Nos . 1
through 24 and Claim No . 1 of Chennault Materials, Inc . refer
to Underwood, Neuhaus & Co . , Incorporated, instead of said
bank; and
WHEREAS, Underwood, Neuhaus & Co . , Incorporated; solely
to permit payment of such claim, has pro forma assigned its
rights (such company having none) to Certificates Nos . 1 to 24
to Pearland State Bank, which bank has in fact paid Chennault
Materials, Inc . , $24, 000 .00 in cash, is entitled to and has
received such Certificates Nos . 1 through 24 ; and
WHEREAS, this City Council wishes to ratify, adopt and con-
firm all said proceedings and assignment whereby Pearland State
Bank is the proper assignee and holder of such Certificates
A ®
l[( \
Nos . 1 to 24 , and such bank shall be the assignee of the re-
maining Certificates of said Series 1976-A Certificates ;
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PEARLAND, TEXAS THAT:
Section 1 . All the matters and facts contained in the
preamble of this resolution are hereby found and declared to
be true and correct .
Section 2 . All acts of the City Council of the City. of
Pearland, Texas, Underwood, Neuhaus & Co . , Incorporated, and
Pearland State Bank, Pearland, Texas, relating to the assignment
of claim and delivery of Certificates Nos . 1 to 24 mentioned
in the preamble of this resolution are hereby in all things
ratified, approved, adopted and confirmed.
Section 3 . Future claims to be paid by the issuance of
the Series 1976-A Certificates mentioned in the preamble hereof -
shall be assigned without discount to Pearland State Bank,
Pearland, Texas .
PASSED AND APPROVED this 22nd day of November, 1976 .
•
ATTEST:- Mayor PRO TEM
CITY OF PEARLAND, TEXAS.
City Secret y
CITY OF P RLAND, TEXAS
(SEAL)
-2-
DELIVERY CERTIFICATE
THE STATE OF TEXAS 0
COUNTIES OF BRAZORIA AND HARRIS () •
•
We, the undersigned, officers of the City Council of the City of Pearland, Texas,
certify that on the day of November, 1976, we delivered to Pearland State Bank,
Pearland, Texas, the following:
CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976-A, dated
July 1, 1976, numbered consecutively from 1 through 24, both inclusive,
in the denomination of $1,000 each, aggregating $24,000, bearing interest
at the rate of 6.25% per annum, and maturing serially in their numerical
order on August 1 as follows:
$ 5,000 1986
19,000 1987
•
We further certify that, to our knowledge, there is no litigation in any court,
either pending or threatened, seeking to restrain or enjoin the issuance of said cer-
tificates, the levy of taxes for the payment thereof, or attacking the validity of
said certificates or the proceedings relating thereto, or the authority of the City
to issue the same or questioning or contesting the title of the present officers of
said City to their respective offices. We further certify that none of the proceed-
ings authorizing the issuance and delivery of said certificates have been repealed
or rescinded; and no referendum petition has been filed with respect thereto.
WITNESS our hands and the official seal of said City as of the date shown above.
l�' t zif
City Treasurer Mayor
(CITY SEAL)
-City Secretary
The. foregoing signatures of the Mayor, City Secretary and City Treasurer of the
City of Pearland, Texas, are hereby certified to be genuine.
PEARLAND STATE BANK ,
Pearland, xas •
Sign e of Officer)
-`_(BAANK SEAL) (// G e
(Title of Officer)
We' hereby acknowledge receipt of the certificates described above, which certifi-
cates constitute full payment of our claim against said City in the amount of $24,000,
said claim having been assigned to us, without discount, by Chennault Materials, Inc.
PEARLAND STATE BANK
Pearland, Texas
_`. . By
( ignature f Officer)
(BANK-SEAL) (/;)/ c. 2
(Title of Officer)
r
CITY OF PEARLAND, TEXAS
CERTIFICATES OF OBLIGATION
SERIES 1976-A
* * * * * * * *
$116 , 000
* * * * * * * *
6. 25%
CITY OF PEARLAND, TEXAS
CERTIFICATES OF OBLIGATION
SERIES 1976-A
* * * * * * * *
$116 , 000
* * * * * * * *
6. 25%
NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND ''HARRIS §
CITY OF PEARLAND §
NOTICE is hereby given of a meeting of the City Council
of the CITY OF PEARLAND, Brazoria and Harris Counties , Texas
(the "City" ) , to be held on the 14th day of June, 1976 , at
7 : 30 p .m. in the :
City Hall
Pearland, Texas
for the purpose of considering and, if deemed advisable by
the City Council, adopting resolutions authorizing publication
of notice of intention to issue Certificates of Obligation of
the City and notice to bidders, and for the purpose of con-
ducting, considering and acting upon such other business as
shall come before the meeting .
The need of the City for such financing creates an emer-
gency and an urgent public necessity for the holding of the
meeting and for the adoption of such resolutions at the meeting .
WITNESS MY HAND AND OFFICIAL SEAL OF THE CITY, this /o
day of June , 1976 .
/s/ Dorothy L . Cook
City Secretary
CITY OF PEARLAND, TEXAS
(SEAL)
CERTIFICATE OF POSTING
OF NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
I , the undersigned officer of the CITY OF ,PEARLAND,
Brazoria and Harris Counties, Texas (the "City" ) , do hereby
execute this certificate for the benefit of all persons in-
terested in the posting of notice of a meeting of the City
Council of the City as required by the Open Meetings Act
(Article 6252-17, Vernon' s Texas Civil Statutes , as amended)
and the validity of all actions and proceedings taken at such
meeting and I do hereby certify as follows :
1 . I am the duly chosen, qualified and acting officer
of the City for the office shown beneath my signature , and
in such capacity I am familiar with the matters contained in
this certificate .
2 . The attached and foregoing is a true and correct
copy of the Notice of Meeting which was posted by me at
ie7 :00 o ' clock ,a .m. on the ,o day of , 1976,
in a place readily accessible to the gener 1 public at all
times , to-wit :
in the City Hall of the City .
WITNESS M HAND AND THE OFFICIAL SEAL OF THE CITY, this
/o day of , 1976 .
City Secretar
CITY OF PEA AND, TEXAS
(SEAL)
r.— --r --1 -'
f
AVISO DE REUNION
EL ESTADO DE TEXAS 0
CONDADOS DE BRAZORIA Y HARRIS
CIUDAD DE PEARLAND
SE AVISA POR EL PRESENTE que se llevara a cabo una
reunion del Cabildo Municipal de la CIUDAD DE PEARLAND ,
Condados de Brazoria y Harris , Texas ( la "Ciudad) , el dia
14 de junio de 1976, a las 7 : 30 p .m. , en el
Municipio
( City Hall )
Pearland, Texas
para considerar , y si to aconsejo el Cabildo Municipal ,
adoptar resoluciones autorizando la publicacion de un aviso
de intenci6n de emitir Certificados de Obligacion de la
Ciudad un aviso a licitadores , y para conducir , considerar
y actuar sobre cualquier otro asunto que se presente a la
reunion .
La necesidad de la Ciudad para dicha financiacion ha
creado una emergencies y un urgente requisito publico para
convocar la reunion y para la adopci6n de dicha resolucion
en la reunion.
DADO BAJO MI FIRMA Y EL SELLO OFICIAL DE LA CIUDAD ,
este dia // de junio de 1976 .
/s/ Dorothy L. Cook
Secretaria Municipal
CIUDAD DE PEARLAND , TEXAS
( SELLO )
r--- r . r- --1 —� --.1
,
CERTIFICATE OF POSTING
OF NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
I, the undersigned officer of the CITY OF PEARLAND,
Brazoria and Harris Counties , Texas (the "City" ) , do hereby
execute this certificate for the benefit of all persons in-
terested in the posting of notice of a meeting of the City
Council of the City as required by the Open Meetings Act
(Article 6252-17, Vernon ' s Texas Civil Statutes , as amended )
and the validity of all actions and proceedings taken at such
meeting and I do hereby certify as follows :
1 . I am the duly chosen, qualified and acting officer
of the City for the office shown beneath my signature, and
in such capacity I am familiar with the matters contained in
this certificate .
2 . The attached and foregoing is a true and correct
copy of the Notice of Meeting which was posted by me at
t'oo o ' clock .m. on the i f day of f , 1976,
in a place readily a cessible��gen al public at all
times, to-wit :
5
in the City Hall of the City .
WITNESS MY AND AND THE OFFICIAL SEAL OF THE CITY, this
/ . day of ,c , , 1976 .
-74"/t7Th ' 2c-.' ti -
ity Secretar
CITY OF PEA AND, TEXAS
:(SEAL)
r- r_ Pims ..mimi Mom ■� swim rs mmil mom. moms —.
CERTIFICATE FOR RESOLUTION AUTHORIZING
PUBLICATION OF NOTICE TO BIDDERS AND NOTICE
OF INTENTION TO ISSUE $195, 000 CITY OF PEARLAND,
TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976-A
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
We, the undersigned officers of the CITY OF PEARLAND,
TEXAS (the "City" ) , do hereby certify as follows :
1 . That we are the duly chosen, qualified and acting
officers of the City for the offices shown below our signatures
and that as such we are familiar with the facts herein certified .
2 . That there is attached to and follows this certificate
an excerpt of proceedings from the minutes of a meeting of the
City Council of the City (the "City Council" ) which is a true,
full and complete excerpt of all proceedings from the minutes of
the City Council pertaining to the adoption of the resolution de-
scribed therein; and that the persons named in such excerpt as
the officers and members of the City Council or as officers of
the City are the duly chosen, qualified and acting officers and
members as indicated therein.
3 . That a true and complete copy of the resolution (the
"Resolution" ) , as adopted at the meeting described in such excerpt
from the minutes , is attached to and follows such excerpt .
4 . That the Resolution has been duly and lawfully adopted
by the City Council and that the Mayor of the City has approved,
and hereby approves, the Resolution; that the Mayor and the City
Secretary of the City have duly signed and attested the Resolution
and each, respectively, hereby declares that the signing of this
certificate shall also constitute the signing of the Resolution
for all purposes ; and that the Resolution, as signed, has been
duly recorded in the minutes of the City Council for such meeting.
5 . That each of the officers and members of the City
Council was duly and sufficiently notified officially and per-
sonally, in advance, of the date, hour, place and subject of
such meeting of the City Council, and that the Resolution would
be introduced and considered for passage at such meeting, and
each of such officers and members consented, in advance, to the
holding of such meeting to consider and act upon such subject .
6 . That written notice of the meeting of the City Council
described in the excerpt from the minutes was posted in the form
and manner required by law; and that such meeting was open to the
public as required by law at all times during which the Resolution
and the subject matter thereof were discussed, considered and
formally acted upon, all as required by the Open Meetings Act ,
Article 6252-17 , Vernon' s Texas Civil Statutes, as amended .
SIGNED AND SEALED this 14th day o June, 1976 .
dig'1'1'••••-- )2 alt..,
City S etary Mayor
(SEAL)
THE STATE OF TEXAS
COUNTIES OF BRAZORIA AND HARRIS
CITY OF PEARLAND
The City Council of the City of Pearland, Texas, convened
in regular meeting, open to the public, on the 14th day of
June, 1976 , at the City Hall, and the roll was called of the
duly constituted officers and members of the City Council and
the City Secretary of the City, to-wit:
Carlton McComb Mayor
Tom Reid Councilman
Mayor Pro Tem
Cecil W. Griffin Councilman
Harry Farley Councilman
Terry Gray Councilman
Benny J. Frank Councilman
Dorothy L. Cook City Secretary
and all of said persons were present, except the following ab-
sentees: none
thus constituting a quorum. Whereupon, among other business,
the following was transacted at said meeting: a written reso-
lution entitled:
RESOLUTION AUTHORIZING PUBLICATION OF NOTICE TO BIDDERS
AND NOTICE OF INTENTION TO ISSUE $195, 000 CITY OF PEARLAND,
TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976-A
(the "Resolution" ) was duly introduced for the consideration
of the City Council and reviewed in full. It was then duly
moved and seconded that the Resolution be passed; and, after
due discussion, the motion, carrying with it the passage of
the Resolution, prevailed and carried by the following vote:
AYES: All members of the City Council shown
present above voted "Aye" .
NOES: None.
The Mayor thereupon announced that the Resolution had been duly
and lawfully adopted. The Resolution thus adopted follows :
RESOLUTION AUTHORIZING PUBLICATION OF NOTICE
TO BIDDERS AND NOTICE OF INTENTION TO ISSUE
$195 , 000 CITY OF PEARLAND, TEXAS , CERTIFICATES
OF OBLIGATION, SERIES 1976-A
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
WHEREAS, the City Council of the CITY OF PEARLAND, TEXAS
(the "City" ) , deems it advisable to issue Certificates of
Obligation of the City in accordance with the notice herein-
after set forth;
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF PEARLAND, TEXAS THAT:
Section 1 . The facts and recitations contained in the
preamble of this resolution are hereby found and declared to
be true and correct .
Section 2 . The City Secretary is hereby authorized and
directed to cause to be published in the manner required by
law a notice of intention to issue Certificates of Obligation
in substantially the following form:
NOTICE TO BIDDERS AND NOTICE OF INTENTION
TO ISSUE CERTIFICATES OF OBLIGATION
NOTICE IS HEREBY GIVEN that sealed proposals (hereinafter
sometimes called "bids" ) addressed to the Mayor and City Council
of the City of Pearland, Texas (the "City" ) , will be received
at a meeting of the City Council in the City Hall, City of
Pearland, Texas , until 7 : 30 p .m. , July 12, 1976, at which time
and place they will be publicly opened and read aloud, for
furnishing materials and supplies for improving the roads,
bridges and streets of the City, to-wit :
(1 ) Base material and fill;
(2 ) Hot-mix asphalt surfacing material; and
(3) Bridge construction materials and supplies ;
and the City Council tentatively proposes to let a contract ,
or contracts , for the purchase, or purchases, of such materials
and supplies, and to authorize issuance of Certificates of
Obligation, in accordance with the terms and provisions of
this Notice at such meeting or at a subsequent meeting of the
City Council in said City Hall .
Bids may be made on one or more items . Bids received
after said closing time will be returned unopened . A cashier ' s
check or certified check, drawn on a bank acceptable to the
City and made payable to the City, or a bidder ' s bond issued
by a surety company duly licensed in the State of Texas , in
an amount equal to not less than five percent (5% ) of the
largest possible total of the bids submitted, including alter-
nates, must accompany each bid, as a guaranty that the suc-
cessful bidder, or bidders , will enter into a contract and
execute bonds and guaranties on the terms provided herein, and
in the contract documents and specifications, within ten (10)
days after notice of award of contract , or contracts . Such
checks or bidders ' bonds will be returned to bidders within
five ( 5) days after opening of bids, except that such checks
or bidder' s bonds of the acceptable bidders submitting the
three lowest bids will be returned to said bidders within
twenty-four (24 ) hours after final execution of contract .
The successful bidder, or bidders , must furnish perfor-
mance bond and payment bond on the forms furnished with such
contract documents, each in the full amount of the contract
price and issued by a surety company authorized to do business
in this State in accordance with the provisions of Article
5160, Revised Civil Statutes of Texas, 1925, as amended.
Copies of contract documents and specifications are on
file at the office of the City Manager in the City Hall of the
City and may be examined and obtained there without charge.
This Notice shall be and constitute a part of the said
contract documents and specifications .
r. �� �� �� �r �� �r �� r �� - -.1 -
No such bids may be withdrawn after the scheduled closing
time for receipt of bids and for thirty ( 30) days thereafter .
The City reserves the right to accept any bid deemed most ad-
vantageous to it , including alternates , to reject any and all
bids, and to waive any informality . In case of ambiguity or
lack of clearness in the statement of prices in each proposal,
the City reserves the right to adopt prices written in words,
or to reject the proposal .
It is the intention of the City to pay all or any part of
any contractual obligation to be incurred for the purchase of
such materials and supplies, including contractual obligations
for professional services in connection therewith, by the
issuance of Certificates of Obligation of the City, payable
from City ad valorem taxes, in the maximum aggregate principal
amount of $195, 000, bearing interest at a rate not in excess
of that prescribed by Article 717k-2 , V.T.C .S . , as amended,
and maturing over a period of years not to exceed 20 years
from the date thereof, for the purpose of evidencing the in-
debtedness of the City for all or any part of the cost of
purchasing such materials and supplies, including the cost of
professional services incurred in connection therewith; and
the successful bidder or bidders will be required to accept
such Certificates in payment of all or any portion of the con-
tract price, or prices .
The City Council has made provision for each contractor
(successful bidder) to sell and assign such Certificates of
Obligation to another at par and without discount , and with
no exchange or collection charges to such contractor, and each
bidder is required (at the time of the receipt of bids by the
City Council ) to elect whether he will accept such Certificates
in payment of all or a part of the contract price, or prices, or
assign such Certificates in accordance with such arrangements .
WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this
14th day of June, 1976 .
/s/ Dorothy L. Cook
City Secretary
CITY OF PEARLAND, TEXAS
(SEAL)
Section 3 . The notice set forth in Section 2 above shall
be published once a week for two ( 2 ) consecutive weeks in a
newspaper which is of general circulation in the City of
Pearland, the date of the first publication to be not less
than fourteen (14 ) days prior to the date tentatively set in
said notice for the passage of the resolution authorizing the
issuance of such Certificates of Obligation .
Section 4 . The Mayor, City Secretary, and other officers
of the City are hereby authorized and directed to do any and
all things necessary or desirable to carry out the provisions
of this resolution .
Section 5 . This resolution shall take effect immediately
upon its passage .
Section 6 . It is hereby officially found and determined
that the need of the City for such financing creates an emer-
gency and an urgent public necessity for the holding, at the
scheduled time , of the meeting of the City Council at which
this resolution is adopted and for the adoption of this resolu-
tion; and the NOTICE OF MEETING relating to said meeting and
heretofore posted by the City Secretary, and the posting
thereof, are hereby authorized, approved, and ratified .
PASSED AND APPROVED this 14th day of June , 1976 .
ATTEST: /s/ Carlton McComb
Mayor
/s/ Dorothy L . Cook CITY OF PEARLAND, TEXAS
City Secretary
CITY OF PEARLAND , TEXAS
(SEAL)
p.m mimil
RESOLUCION AUTORIZANDO LA PUBLICACION DE
UN AVISO A LICITADORES Y AVISO DE INTENCION
DE EMITIR CERTIFICADOS DE OBLIGACION , SERIE 1976-A,
DE LA CIUDAD DE PEARLAND, TEXAS EN LA CANTIDAD DE $195 ,000
EL ESTADO DE TEXAS
CONDADOS DE BRAZORIA Y HARRIS
CIUDAD DE PEARLAND
CONSIDERANDO QUE el Cabildo Municipal de la CIUDAD DE
PEARLAND , TEXAS (la "Ciudad" ) , aconseja la emisi6n de
Certificados de Obligaci6n de acuerdo con el aviso descrito
mas adelante;
AHORA, POR LO TANTO , HA RESUELTO EL CABILDO MUNICIPAL
DE LA CIUDAD DE PEARLAND, TEXAS , QUE:
Secci6n 1 . Los hechos y las declaraciones contenidos
en el preambulo de esta resoluci6n por el presente se declaran
fieles y correctos .
Secci6n 2 . El Secretario de la Ciudad queda autorizado
por el presente y dirigido para publicar un aviso de intenci6n
de emitir Certificados de Obligaci6n en la forma dispuesta
por ley en la siguiente forma:
AVISO A LICITADORES Y AVISO DE INTENCION
PARA EMITIR CERTIFICADOS DE OBLIGACION
POR EL PRESENTE SE AVISA que propuestas selladas ( de
aqui en adelante "propuestas" ) dirigidas al Alcalde y al
Cabildo Municipal de la Ciudad de Pearland , Texas ( la
"Ciudad" ) , se recibiran en una reuni6n del Cabildo Municipal
en el Municipio , Ciudad de Pearland , Texas , hasta las 7 : 30
p .m. , el dla 12 de julio de 1976 , siendo la hora y el lugar
en los cuales se abriran en publico y se darg lectura a
dichas propuestas para el suministro de materiales y provi-
siones para mejorar caminos , puentes y calles de la Ciudad ,
a saber :
( 1 ) material base y terraplen ;
( 2 ) asfalto de mezcla caliente para allanar ; y
( 3 ) materiales y provisiones para la construcci6n
de puentes ;
y el Cabildo Municipal tentativamente propone adjudicar un
contrato , o contratos , para la compra , o compras de dichos
materiales y provisiones , y para autorizar la emisi6n de
Certificados de Obligaci6n, conforme a los terminos y
requisitos de este Aviso en dicha reuni6n o en una reuni6n
subsecuente del Cabildo Municipal en dicho Municipio .
Se pueden hacer ofertas sobre uno o mas de los articulos .
Se devolvergn sin abrir propuestas recibidas despues de
la consumaci6n del tiempo asignado . Un cheque de caja
o cheque certificado , girado a cargo de un banco aceptable
a la Ciudad , o un bono de licitador emitido por una instituci6n
de fianzas debidamente licensiada en el Estado de Texas , por
una cantidad igual a no menos del cinco porciento ( 5% ) del
total mgs grande posible de las propuestas sometidas , incluyen-
do alternativos , debe acompanar cada propuesta, comp garantia
de que el licitador o licitadores favoritos se comprometergn
por contrato , y cumpliran con los bonos y las garantlas de
acuerdo con los terminos expuestos en este , y en los documentos
del contrato y las especificaciones dentro de diez ( 10 )
dias despues de dar el aviso de adjudicaci6n del contrato a
contratos . Se devolvergn a los licitadores los cheques o
bonos del licitador dentro de cinco ( 5 ) dias despues de la
apertura de las propuestas , con la excepci6n de que se
devolvergn dentro de veinticuatro ( 24 ) horas despues de la
ejecuci6n definitiva del contrato los cheques o bonos del
licitador a los licitadores aceptables que han sometido las
tres propuestas mas bajas .
El licitador o licitadores favoritos deberan proporcionar
fianza de cumplimiento y fianza de pago en los formularios
proporcionados con dichos documentos , cada uno en la cantidad
Integra del precio o precios del contrato y emitido por una
instituci6n de fianzas autorizada por el Estado de Texas y
establecida de acuerdo con los requisitos del Articulo 5160 ,
Estatutos Civiles Revisados de Texas , 1925 , Begun enmendados .
- 1
Las oficinas del Gerente Municipal en el Municipio de
la Ciudad mantienen copias de los documentos del contrato y
de las especificaciones .
Este Aviso serg , y constituira parte de dichos docu-
mentos del contrato y especificaciones .
No se retiraran dichas propuestas despues de la con-
sumaci6n del tiempo asignado para recibir propuestas y hasta
por treinta ( 30 ) dias despues de dicha consumaciOn de tiempo .
La Ciudad reserva el derecho de aceptar la propuesta que
juzgue mas ventajosa para la Ciudad , incluyendo alternativos ,
asT como rechazar cualquier propuesta , y renunciar cualquier
informalidad. En caso de ambiguedad o de falta de claridad
en las declaraciones de los precios en cada propuesta , la
Ciudad se reserva el derecho de adoptar los precios por
escritos o rechazar la propuesta.
Es la intenci6n de la Ciudad pagar por toda o cualquier
parte de cualquier obligacion contractual contraida por la
compra de dichos materiales y provisiones , incluyendo
obligaciones contractuales por servicios profesionales con
respecto a lo mismo , por medio de Certificados de Obliga-
ci6n de la Ciudad , los pagos a ser derivados de los impues-
tos por avaluos de la Ciudad , en la maxima cantidad princi-
pal de $195 ,000 , con interes a raz6n de no mas de lo prescrito
por el Articulo 717k-2 , V. T. C .S . , segun enmendado , y con
vencimiento de un peri6do de anos a no exceder 20 anos de la
fecha del mismo , para el pr6posito de comprobar el adeudo de
la Ciudad por todo o cualquier parte del costo de la adquisi-
ci6n de dichos materiales y provisiones , incluyendo el costo
de servicios profesionales incurridos con respecto a lo
mismo ; y el licitador favorito sera requerido a aceptar
dichos Certificados como pago de todo o una porci6n del
precio o precios del contrato .
El Cabildo Municipal ha hecho provisiones para que cada
contratista ( licitador favorito) venda y ceda a la par , a
otros , dichos Certificados de Obligacion , sin descuento y
sin cobrar cargos de cambio o colecci6n y ( al recibir el
Cabildo Municipal las propuestas ) cada licitador debe elegir
si acepta o no dichos Certificados en pago de todo o parte
del precio o precios del contrato , o ceder dichos Certifi-
cados de acuerdo con dicho concierto .
EN FE DE LO CUAL FIRMO Y PONGO EL SELLO OFICIAL DE LA
CIUDAD este dia 14 de junio de 1976 .
/fdo/ Dorothy L. Cook
Secretario de la Ciudad
Ciudad de Pearland , Texas
(SELLO )
Secci6n 3 . El aviso expuesto en la Secci6n 2 de este
sera publicado una vez a la semana por dos ( 2) semanas con-
secutivas en un peri6dico de circulaci6n general en la
Ciudad de Pearland, haciendose la primera publicaci6n no
menos que catorce (14 ) dias antes de la fecha tentativamente
fijada en dicho aviso para la adopci6n de la resoluci6n
que autoriza la emisi6n de dichos Certificados de Obligaci6n .
Secci6n 4 . El Alcalde , la Secretaria de la Ciudad y
otros oficiales de la Ciudad quedan aqua autorizados y
dirigidos para hacer todo y cuanto sea necesario o deseable
para cumplir con las disposiciones de esta resoluci6n .
Secci6n -5 . Esta resoluci6n entrara en vigencia in-
mediatamente a ser adoptada.
Secci6n 6 . Por el presente se declara y se determina
oficialmente que la necesidad de la Ciudad para dicha finan-
ciaci6n ha creado una emergencia y un urgente requisito publico
para la convocaci6n de la reuni6n del Cabildo Municipal en la
fecha fijada en la cual es adoptada esta resoluci6n y para
la adopci6n misma de esta resoluci6n ; y el AVISO DE REUNION
con respecto a dicha reuni6n , anteriormente fijado por la
Secretaria de la Ciudad, y el fijar del mismo , son actos
autorizados , aprobados , y ratificados .
PASADA Y ADOPTADA este dia 14 de junio de 1976 .
/fdo/ Carlton McComb
ATESTACION : Alcalde
CIUDAD DE PEARLAND , TEXAS
/fdo/ Dorothy L. Cook
Secretaria de la Ciudad
CIUDAD DE PEARLAND , TEXAS
(SELLO)
Estado de Texas y establecioa
- AVI5CO-A1:1CITADORES Y ce acuerdo con los requisites
AVISO _.DE_ INTENCION del Articulo 5160. Estatutos:
PARA .- EMITIR CER• Civiles Revisados de Texas,
NOTICE TO BIDDERS AND! TIFICADOS D E 1925, segue enmendados.
NOTICE OF INTENTION TOI OBLIGATION Las oficinas del Gerente
ISSUE--CERTIFICATES -Ot POR EL PRESENTE SE Municipal en el Municipiode la
OBLIGATION ):n,es of contract AVISA que propuestas Ciudad mantienen copies de
documents and specifications selladas (de aqui en adelante los documentos del contrato y
NOTICE IS HEREBY are on file at the office of the "propuestas") dirlgidas al de las especificaciones.
GIVEN that sealed proposals City Manager in the City Hall Alcalde y al Cabildo Municipal Este Aviso sera, y con-
(hereinafter sometimes calledde la Ciudad de Pearland, ' stituira parte de dichos
of the City and may be Texas documentos del contrato
"bids") addressed to the examined and obtained there (la "Ciudad"), se y
Mayor and City Council of the recibiran en una reunion del especificaciones.
City of Pearland, Texas (the without charge. Cabildo Municipal en el Este s+ et
iso -sea, y'
This notice shall be and w
"City"), will be received at a Municipio, Ciudad de stituira parte de dichos
meeting of the City Council in constiture a part of the said Pearlapdr Aexase haste las
contract documents and 7:30 documentos del contrato y
the City Hall,City of Pearland, pavt4..er,d10 12 de lulio de especificaciones.
Texas, until 7:30 PM, July12, specifications. 1976,slope* «
y Niger No se retiraran dichas
1976, at which time and place 'No such bids may be with•I 'Cafe&'S. abriran en ,propuestas despues de let
they will be publicly opened drawn after the scheduled publlCo y se data lecture a
consumacion dt41 tiempo
and read aloud, for furnishingclosing time for receipt of bids' dichas propuestas pare el.P asignado para recibir
materials and supplies for and for thirty (30) days suministro de materlales y propuestas y haste per treinta
improving the roads, bridges thereafter. The City-reserves provisiores pare melorar
taminos dias des d dicha
,noeetes y caller de la con
and streets of the City,to-wit: the right to accept any bid consumacion dee tiempo. La
(1) Base material and fill; deemed most advantageous to Ciudad, a saber: Ciudad reserve el derecho de
(2) Hof-mix asphalt sur- it, including alternates, to (1) material base y aceptar la propuesta que
facingmaterial; and reject anyand all bids, and to terraplen;
uzgue mas ventajt� Para la
(3) Bridge construction waive any informality. In case (2)asfaitt,derriezcfa caliente Ciudad, incluyendo after-
materials and supplies; and of ambiguity or lack of pare sate eal y
PP 9 Y (3)matccials: natives, asi coma rechazar
the City Council tentatively clearness in the statement of y Prorisiones cualqu'er propuesta, y
proposes to let a contract, or prices in each proposal, the para to construction de renunciar cualquier in-
contracts,for the purchase,or City reserves the right to adopt y Puentes, formalidad. En taro de am-
purchases, of such materials prices written in words, or to tativamente
el CaMunicipal an• biguedad o de felts de claridad
propene ad• en las declaraciones de lot
and supplies,and to authorize reject the proposal.
issuance of Certificates of It is the intention of the City iudicar un tartrate, o con- reties en Carla propuesta, la
9 partanycrates, pars la coapra, o Ciudad Se reserve el derecho
Obligation,in accordance with to pay all or of con-the terms and ,,c pr i ls de dichos meter isles de adopter lot precios Prot
provisions of . tractual obligation to be in- y provisions,
this Notice at such meetingor `furred for the purchase such y pars sutorizar .escritos o rechezar la pr•
P la emislor; de Certificados de
at a subsequent meeting Of the .materials and supplies, in• Obligation, conform, a los puesta.
City Council in said City Hall. eluding contractual terminos y requisites de este Es la intention de la Ciudad
pager por toda o cualquier
Bids may be made on ono or, obligations for professional Aviso en cliche reunion.o en
more items. Bids received' services in Connection una reunion subsecuente del parts de wrtraida por ier obligati s
after said closing time will be therewith, by the issuance of Cabildo Municipal en ;contractual con
returned unopened. A • Certificates of Obligation of Municipio. cliche ;comps de dichos materialea Y
cashier's check or certified the City,payable from Cit ad rovisiones, incluyendo
check, drawn on a.bank ae• valorem taxes, in the Se puandan hater ofertas (obligaclones contractuales port
seers una a mes de los sr-
ceptable to the City and made 'maximum aggregate principal ticulos.Sec'+volveren sin abrir 1 servicios profeslonales con
respecto a to mismo, per
payable to the City, or a bid amount of S195,000, bearing propuestas recibidas
der's bond issued by a surety interest at a rate not in excess de la consumacion del tiempo
i medto de Certificados de
company duly licensed in the! .of that prescribed by Article asignado. Un cheque de ca-a o los
•Obligation de la Ciudad,
Pages a sec derivados de los
State of Texas, in an amount; .717k-2, V.T.C.S., as amended, cheque certificado, girado a
and maturin impuestos per avaluos de la
equal to not less than five 3 g over a period of cargo de un banco aceptable a
percent (5%) of the largest: ,Years not to exceed 20 years la Ciudad, 0 un twee de Ciudad, en la maxima de$195,o ca n
tl from the date thereof, for the ticitador ernitido pro una in• tided principal
possible total of the bids interes a razon de no mas de to
submitted, including alter- Purpose of evidencing the stituclon de fianzas rescrito per el Articulo 717k
nates, must accompany each indebtedness of the City for all debidamente licensiada en el y,V.T.C•S.,segue enmendado,
bid, as a guaranty that the or any part of the cost of Estado de Texas, por una Y con vencimiento de to,
successful bidders,or bidders, 'purchasing such materials and cantidad igual a no menos del
will enter into a contract and supplies, including the cost of cinco porciento (5%) del total periodo de ands a no exceder 20
execute bonds and guarantiesi professional services incurred mas greeds posibls de las anos de la fecha del mismo,
on the terms provided herein, !in connection.therewith; and propuestas sometidas, in• pare el proposito de toad
and execute bonds and the successful bidder or bid- cluyendo a!tertuttivos, pees
prober el adeude de la Ciudad
N•ders will be required to accept acompana: cads propuesta, per lode o Guelguier parts del
guaranties on the terms such Certificates in payment como garantia de que el torte de la adquisicion de
provided herein, and the 'of all or anydichos materiales Y
portion of the licitador licitadores favorites incluyertdo el
contract documents and t contract price,or prices. se comprometeran pot con- provisiorescello de
servicios
.
specifications, within ten (10) The City Council has made, trato, y cumpliran con Ids
days after notice of award of provision for'each contractor bonos y las gerantias de profesionales incurridos con
contract, or contracts. Such (successful bidder)to sell andrespecto a tDa:
mismo; y el
acuerdo con los terminos
checks or bidders' bonds will assign such Certificates of expuestos en este, y en lot licitador favorite sera
be returned to bidders with' Obligation to another at par documentos del contrato y las requerido a aceptar dichos
five (5) days after opening of, •and without discount,and with especificaciones dentro de pier. Certificados Como page de
bids, except that such checks :no exchange or collection' lode o una procion del precio 0
(10) dies despues de der et
or bidder's bonds of the ac• 'charge! to such contractor, aviso precios del contrato.
Gf adjudication del 1
ceptable bidders submitting and each bidder is required(at El Cabildo Municipal ha
contras, 0 tartrates. Se
the three lowest bids will be the time of the receipt of bids I devolve,en a los lit itadores les hechO provisiofleS Para que)
returned to said bidders within by the City Council) to elect cheques o bonos del licitador cada contratista (licitador
twenty-four (24) hours after ;whether he will accept such dentro de cinco (5) dias favorite) vends y cede a la
final execution of contract. ;Certificates in payment of all
The successful bidder, or +!or part of the contract price,or despues atde la cona la
ep ion par, a otros, dichos Csin
las
t,iaders, must turntsh per- 'prices, or assign such Cer- propuestas, la exception tlficados de Obligation, sin
rormance bond and payment de que se devolveran dentro de descuento y sin cobrar cargos
�tiflcates in accordance with veinticuatro (24) houas de cambio o coleccion y (al
bond on the forms furnished :Such arrangements. las propuestas) cada licitador
with such contract documents, WITNESS MY HAND AND despues de la elecucion recibir el Cabildo Municipal'
each in the full amount of thedefinitive del contraca los
contract price and issued by THE OFFICIAL SEAL OF chequeso bonds deg licitador a debt elegir si acepta o no
surety company authorized to: THE CITY, this 14th day of cos IiCitadores aceptaDles que dichos Certificados en page de
June, 1976. hen sometido {as tres todo o parte del precio o'
do business in this State in /s/Dorothy L.Cook ro uestas mas balas. precios del contrato, o ceder
accordance with the provisions City Secretary P EI licitador o licitadores dichos Certificados de acuerdo
of Article 5160, Revised Civil CITY OF PEARLAND, con dicho concierto.
Statutres of Texas, t9z , as favorites deberan proper- EN FE DE LO CUAL
amended. TEXAS cionar fianza de cumplimiento
y fianla de page en los for• FIRMO Y PONGO EL SELLO
mularios proporcionados con OFICIAL DE LA CUIDAD este
dichos documentos, cada uno dia 14 de (unto de 1976.
en la confided integra del /ido/Dorothy L.Cook
precio o precios del contrat L
o y Secretor iode y Cook
udad
emitido per una institucioe: de
f,dnjay autorizado por el �I Cuided de Pearland,Texas
(SELLO)
r. r.. �� �' �' -' I _, �\ - 1
(Pleases attach newspaper
here and not above. this line
AFFIDAVIT OF PUBLICATION
THE STATE OF TEXAS §
COUNTY OF BRAZORIA §
BEFORE ME, the undersigned authority, on this day per-
sonally appeared
(Editor/Publisher) of the Sun Progress , who, being by me duly
sworn, upon oath, deposes and says :
The attached clippings (one in English and
one in Spanish) of a NOTICE TO BIDDERS AND
NOTICE OF INTENTION TO ISSUE CERTIFICATES
OF OBLIGATION was published in the Sun
Progress , a newspaper which is of general
circulation in the City of Pearland, Texas ,
in the followi. • issues , to-wit :
/ ,24/1976, and
41110i/ 1976,
and the attached newspaper clippings are
true and correct copies of said published
notice .
SWORN TO AND SUBSCRIBED BEFORE ME, this day of
, 1976 .
Notary Public in and for
Brazoria County, Texas
Annette Williams
(NOTARY SEAL)
r
400/
NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND
NOTICE is hereby given of a meeting of the City Council
of the CITY OF PEARLAND , Brazoria and Harris Counties , Texas
(the "City" ) , to be held on the 12th day of July, 1976 , at
7 : 30 p .m. in the :
City Hall
Pearland, Texas
for the purpose of considering and , if deemed advisable by
the City Council, adopting Ordinances authorizing issuance of
Certificates of Obligation of the City and for the purpose of
conducting, considering and acting upon such other business
as shall come before the meeting.
The need of the City for such financing creates an emer-
gency and an urgent public necessity for the holding of the
meeting and for the adoption of such ordinances at the meeting.
WITNESS MY HAND AND OFFICIAL SEAL OF THE CITY , this
day of July, 1976.
/s/ Dorothy L. Cook
City Secretary TEXAS
CITY OF PEARLAND,
(SEAL)
. 1•
t.
CERTIFICATE OF POSTING
OF NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
I , the undersigned officer of the CITY OF PEARLAND,
Brazoria and Harris Counties , Texas (the "City" ) , do hereby
execute this certificate for the benefit of all persons in-
terested in the posting of notice of a meeting of the City
Council of the City as required by the Open Meetings Act
(Article 6252-17, Vernon' s Texas Civil Statutes , as amended )
and the validity of all actions and proceedings taken at such
meeting and I do hereby certify as follows :
1 . I am the duly chosen, qualified and acting officer
of the City for the office shown beneath my signature , and
in such capacity I am familiar with the matters contained in
this certificate .
2 . The attached and foregoing is a true and correct
copy of the Notice of Meeting which was posted by me at
o ' clock p .m. on the A° day of t-4 � , 1976,
in a place readily accessible to the gene 1 putgic at all
times, to-wit s.,/Z ,,.,
/
in the City Hall of the City .
WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this
/ day of _g , 1976 .
ity Secretar
CITY OF PEAR ND, TEXAS
c1 ('
^'
(SEAL): ' •
_ - --___, —__11 —1 —1
•
NOTICE TO THE PUBLIC
The regular meeting of July 12, 1976 will be reconvened
on July 16 , 1976 at 5 : 30 P . M. for the consideration and
possible action on the following items of unfinished business :
FIRST READING OF ORDINANCE NO. 332, AN ORDINANCE
AUTHORIZING THE ISSUANCE OF $240,000 CITY OF PEARLAND,
TEXAS, CERTIFICATES OF OBLIGATION.
FIRST READING OF ORDINANCE NO . 333 , AN ORDINANCE
AUTHORIZING THE ISSUANCE OF $195 ,000 CITY OF PEARLAND,
TEXAS, CERTIFICATES OF OBLIGATION.
Posted this 12th day of July , A. D. 1976 at 10 :10 P. M.
on the Bulletin Board of the City Hall , 2335 N. Texas Avenue,
Pearland, Texas .
-----'\)
, ___C-12(---01
Dorothy L. Coo
City Secretary
City of Pearland, Texas
RESOLUTION APPROVING CLAIM AND AUTHORIZING
THE ISSUANCE OF CERTIFICATES OF OBLIGATION
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
WHEREAS, the City Council of the CITY OF PEARLAND, TEXAS
(the "City'' ) , by resolution adopted June 14 , 1976, found that
it was necessary and desirable for the City to purchase materials
and supplies for improving the roads , bridges and streets of
the City, to-wit : (1 ) base material and fill; (2 ) hot-mix.
asphalt surfacing material; and (3) bridge construction materials
and supplies, and that certificates of obligation be issued by
the City for all or any part of the cost of same; and
WHEREAS, the City Council gave due and proper notice to
bidders of the time, place, when and where a contract for the
purchase of such materials and supplies would be let and due
and proper notice of its intention to issue such certificates
of obligation; and
WHEREAS, the City Council thereafter awarded a contract to
CHENNAULT MATERIALS, INC . , Houston, Texas (the "Contractor" ) in
the amount of $74, 450 . 00, as the lowest and best bid for the
furnishing of the base material and fill and the Contractor at
the time of the receipt of such bid elected to assign such
certificates in payment for all or any part of the cost of the
contract in accordance with the arrangements made by the City
Council; and
WHEREAS, the Contractor, as shown on a true copy of its
Claim No . 1, attached hereto as Exhibit "A" and made a part
hereof as if fully written herein, has submitted said claim for
furnishing such materials and supplies; and
WHEREAS, the City has received the full benefits of such
contract represented by said claim to the full extent thereof
and to the full extent of the certificates of obligation here-
inafter authorized to be delivered; and no person, corporation
or trust estate has given notice in writing or otherwise to the
City, or to any official thereof, of any liens for any materials ,
apparatus, fixtures, machinery or labor furnished to the Con-
tractor as provided by Chapter 17 , Acts of the Legislature of
Texas, 1925 (Article 5472-a, Vernon' s Texas Civil Statutes) ,
or any other provision of law; and
WHEREAS, the City does not hold a claim of any kind or
character which might be properly charged or interposed as an
offset or counterclaim to the payment of the aforesaid claim;
and
WHEREAS, said claim has been assigned to Underwood, Neuhaus
& Co . , Incorporated, Houston, Texas, without discount , and said
company is now the legal owner and holder thereof; and
WHEREAS, the City Council of the City wishes to approve
said claim and authorize the payment thereof by the issuance
and delivery of certain of said certificates of obligation,
leaving a carry-over to the next delivery of said certificates ,
all as shown on said Exhibit "A" and as hereinafter set out :
AMOUNT TO BE AMOUNT TO BE
CLAIMANT PAID NOW CARRIED FORWARD
Chennault Materials, Inc . $24 ,204 . 60 $204 . 60
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PEARLAND, TEXAS THAT:
Section 1 . The matters and facts contained in the preamble
of this resolution are hereby found and declared to be true and
correct .
-2-
Section 2 . The claim described in the preamble of this
resolution and fully set forth in Exhibit "A" mentioned in said
preamble shall be, and the same is hereby, approved and allowed,
and the City hereby acknowledges receipt of the full benefits
represented by said claim to the full extent thereof and to the
full extent of the certificates of obligation herein authorized
to be delivered; and the City hereby recognizes and approves the
transfer and assignment of said claim and account to Underwood,
Neuhaus & Co . , Incorporated, Houston, Texas .
Section 3 . There is now due and owing to said company the
sum of $24, 204 . 60.
Section 4 . There shall be executed and delivered to said
company Certificates Nos . 1 through 24 , both inclusive , aggre-
gating $24, 000, of the CITY OF PEARLAND, TEXAS, CERTIFICATES OF
OBLIGATION, SERIES 1976-A, dated July 1 , 1976, and the sum of
$204. 60 shall be carried forward to the next delivery of said
Certificates to the Contractor.
Section 5 . The Mayor, City Secretary, City Treasurer ,
and other appropriate City officials, are hereby authorized and
directed to deliver said Certificates above mentioned and to do
any and all things necessary or convenient to carry out the
terms of this resolution.
PASSED AND APPROVED this 8th day of November, 1976 .
/s/ Carlton McComb
ATTEST:
Mayor
CITY OF PEARLAND, TEXAS
/s/ Dorothy L. Cook
City Secretary
CITY OF PEARLAND, TEXAS
(SEAL)
-3-
EXHIBIT "A"
Claim No . 1 Dated : November 8, 1976
of Chennault Materials, Inc . ("Contractor" ) , against the City
of Pearland, Texas, as per contract in the amount of $74 , 450 . 00,
between said City and said Contractor:
1. Total completed to date (to nearest
one dollar) $26,894 . 00
2. Less 10% retainage $ 2, 689 . 40
3 . Total earned less retainage $24 , 204 . 60
4 . Less previous payments $ -0-
5 . Current payment due $24 , 204 . 60
6 . Current amount to be paid Contractor (to
nearest $1, 000 under amount shown in 5) $24 ,000. 00
7. Carry-over to next claim $ 204 . 60
The amount shown in 6 represents our claim against the City
of Pearland, Texas , for furnishing all materials and supplies
under and in conformity with the plans, specifications, terms
and conditions of the above mentioned contract , and our claim
in the amount shown in 6 has been and is hereby assigned in full ,
without discount , to Underwood, Neuhaus & Co . , Incorporated .
CONTRACTOR
BY(;) -(61
(Authorize Representative)
.... - ( ,A )
;y.- (Title )
All materials and supplies represented by the claim shown
opposite 6 are in full accordance with the plans , specifications ,
terms and conditions of the captioned contract , and such claim
is hereby in all things approved for payment by said City .
MALCOLM A . COLLINS, ENGINEER
Bymalcicart,w._ a.
r- r-- -
DELIVERY CERTIFICATE
THE STATE OF TEXAS 0
COUNTIES OF BRAZORIA AND HARRIS 0
We, the undersigned, officers of the City Council of the City of Pearland, Texas,
certify that on the 9th day of November, 1976, we delivered to Pearland State Bank,
Pearland, Texas, the following:
CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976-A, dated
July 1, 1976, numbered consecutively from 1 through 24, both inclusive,
in the denomination of $1,000 each, aggregating $24,000, bearing interest
at the rate of 6.25% per annum, and maturing serially in their numerical
order on August 1 as follows:
$ 5,000 1986
.,,19,000 1987
We further certify that, to our knowledge, there is no litigation in any court,
either pending or threatened, seeking to restrain or enjoin the issuance of said cer-
tificates, the levy of taxes for the payment thereof, or attacking the validity of
said certificates or the proceedings relating thereto,-or the authority of the City
to issue the same or questioning or contesting the title of the present officers of
said City to their respective offices. We further certify that none of the proceed-
ings authorizing the issuance and delivery of said certificates have been repealed
or rescinded; and no referendum petition has been filed with respect thereto.
WITNESS our hands and the official seal of said City as of the date shown above.
ca./f,d44. -1J124-77/.re-,61-7, (///74 )8!
City Treasurer Mayor
(CITY SEAL)
City Secretary
The foregoing signatures of the Mayor, City Secretary and City Treasurer of the
City of Pearland, Texas, are hereby certified to be genuine.
PEARLAND STATE BANK
Pearland Texas
Si ture of Officer)
(BALK SEAL) - /c.a /res./
(Title of Officer)
We hereby acknowledge receipt of the certificates described above, which certifi-
cates constitute full payment of our claim against said City in the amount of $24,000,
said claim having been assigned to us, without discount, by Chennault Materials, Inc.
PEARLAND STATE BANK
Pearland, T as
"e$1r^°&‘(---
By
(Signaa re of 0 ficer)
(BANK- SEAL) G �es/Carf-
(Title of Officer)
NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
NOTICE is hereby given of a meeting of the City Council
of the CITY OF PEARLAND , Brazoria and Harris Counties , Texas
(the "City" ) , to be held on the 22nd day of November, 1976,
at 7 : 30 p .m. in the :
City Hall
Pearland, Texas
for the purpose of considering and, if deemed advisable by
the City Council, adopting a resolution ratifying, adopting,
and confirming all proceedings whereby Pearland State Bank,
rather than Underwood, Neuhaus & Co . , Incorporated, shall be
the assignee of the City of Pearland, Texas , Certificates of
Obligation, Series 1976-A, and for the purpose of conducting,
considering and acting upon such other business as shall come
before the meeting.
The need of -the City for such financing creates an emer-
gency and an urgent public necessity for the holding of the
meeting and for the adoption of such resolution at the meeting .
WITNESS MY HAND AND OFFICIAL SEAL OF THE CITY, this 2.2._
day of November, 1976 .
/s/ Dorothy L. Cook
City Secretary
CITY OF PEARLAND, TEXAS
(SEAL)
CERTIFICATE OF POSTING
OF NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
I, the undersigned officer of the CITY OF PEARLAND,
Brazoria and Harris Counties , Texas (the "City" ) , do hereby
execute this certificate for the benefit of all persons in-
terested in the posting of notice of a meeting of the City
Council of the City as required by the Open Meetings Act
(Article 6252-17, Vernon' s Texas Civil Statutes , as amended )
and the validity of all actions and proceedings taken at such.
meeting and I do hereby certify as follows :
1 . I am the duly chosen, qualified and acting officer
of the City for the office shown beneath my signature , and
in such capacity I am familiar with the matters contained in
this certificate .
2 . The attached and foregoing is a true and correct
copy of the Notice of Meeting which was posted by me at
/,`co o ' clock 7' .m. on the day of p7-)./-7i , 1976,
in a place readily accessible to Vie general public at all
times, to-wit : (--> 91 , ,�` _
in the City Hall of the City .
WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this
,g, day of `r)d-,i . , 1976 .
• �
ity Secreta
CITY OF PEA AND, TEXAS
(SEAL)
�- - - r mmom mom, mml
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
The City Council of the City of Pearland, Texas, convened
in regular meeting, open to the public , on the 22nd day of
November, 1976, at the City Hall, and the roll was called of
the duly constituted officers and members of the City Council
and the City Secretary of the City, to-wit :
Carlton McComb Mayor
Tom Reid Councilman and
Mayor Pro Tem
Cecil W. Griffin Councilman
Harry Farley Councilman
Terry Gray Councilman
Benny J . Frank Councilman
Dorothy L. Cook City Secretary
and all of said persons were pres nt , except the following ab-
sentees : ��� o� %r,V (,4 ,�
thus constituting a quorum. Whereupon, among other business,
the following was transacted at said meeting: a written reso-
lution entitled :
RESOLUTION RELATING TO
CERTIFICATES OF OBLIGATION, SERIES 1976-A
(the "Resolution" ) was duly introduced for the consideration
of the City Council and reviewed in full. It was then duly
moved and seconded that the Resolution be passed; and, after
due discussion, the motion, carrying with it the passage of
the Resolution, prevailed and carried by the following vote :
AYES : All members of the City Council shown
present above voted "Aye" .
NOES : None .
The Mayor thereupon announced that the Resolution had been duly
and lawfully adopted. The Resolution thus adopted follows :
r r r • ••111 �,
� 1
RESOLUTION RELATING TO
CERTIFICATES OF OBLIGATION, SERIES 1976-A
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
WHEREAS, on June 14, 1976, the City Council of the City
of Pearland, Texas, authorized publication of notice to bidders
and notice of intention to issue $195, 000 City of Pearland,
Texas, Certificates of Obligation, Series 1976-A; and
WHEREAS, such notice was duly given and an ordinance duly
authorizing the issuance of said certificates was adopted, but
such ordinance recited that such certificates were to be assigned
to Underwood, Neuhaus & Co . , Incorporated, Houston, Texas , in-
stead of Pearland State Bank, Pearland, Texas ; and
WHEREAS, the resolution adopted November 8 , 1976 , and re-
lated delivery papers executed relating to Certificates Nos . 1
through 24 and Claim No . 1 of Chennault Materials, Inc . refer
to Underwood, Neuhaus & Co . , Incorporated, instead of said
bank; and
WHEREAS, Underwood, Neuhaus & Co . , Incorporated, solely
to permit payment of such claim, has pro forma assigned its
rights (such company having none) to Certificates Nos . 1 to 24
to Pearland State Bank, which bank has in fact paid Chennault
Materials, Inc . , $24, 000 . 00 in cash, is entitled to and has
received such Certificates Nos . 1 through 24 ; and
WHEREAS, this City Council wishes to ratify, adopt and con-
firm all said proceedings and assignment whereby Pearland State
Bank is the proper assignee and holder of such Certificates
r-- r-- rim Immo= Imam �� ■�R• �� �',
fir-
Nos . 1 to 24 , and such bank shall be the assignee of the re-
maining Certificates of said Series 1976-A Certificates ;
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PEARLAND, TEXAS THAT:
Section 1 . All the matters and facts contained in the
preamble of this resolution are hereby found and declared to
be true and correct .
Section 2 . All acts of the City Council of the City of
Pearland, Texas , Underwood, Neuhaus & Co . , Incorporated , and
•
Pearland State Bank, Pearland, Texas , relating to the assignment
of claim and delivery of Certificates Nos . 1 to 24 mentioned
in the preamble of this resolution are hereby in all things
ratified, approved, adopted and confirmed .
Section 3 . Future claims to be paid by the issuance of
the Series 1976-A Certificates mentioned in the preamble hereof
shall be assigned without discount to Pearland State Bank,
Pearland, Texas .
PASSED AND APPROVED this 22nd day of November, 1976 .
ATTEST: Mayor PRO TEM
CITY OF PEARLAND, TEXAS.
City Secret:f y
CITY OF P •RLAND, TEXAS
(SEAL)
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r
NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
NOTICE is hereby given of a meeting of the City Council
of the CITY OF PEARLAND , Brazoria and Harris Counties , Texas
(the "City" ) , to be held on the 14th day of February, 1977,
at 7 : 30 p .m. in the :
City Hall
Pearland , Texas
for the purpose of considering and, if deemed advisable by
the City Council, adopting a resolution approving claims and
authorizing _issuance of Certificates of Obligation of the
City and for the purpose of conducting, considering and acting
upon such other business as shall come before the meeting.
The need of the City for such financing creates an emer-
gency and an urgent public necessity for the holding of the
meeting and for the adoption of such resolution at the meeting.
WITNESS MY HAND AND OFFICIAL SEAL OF THE CITY, this 7-
day of February, 1977 .
/s/ Dorothy L . Cook
City Secretary _
CITY OF PEARLAND , TEXAS
(SEAL)
f
CERTIFICATE OF POSTING OF
NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
I , the undersigned officer of the CITY OF PEARLAND ,
Brazoria and Harris Counties , Texas (the "City" ) , do hereby
execute this certificate for the benefit of all persons in-
terested in the posting of notice of a meeting of the City
Council of the City as required by the Open Meetings Act
(Article 6252-17 , Vernon' s Texas Civil Statutes , as amended )
and the validity of all actions and proceedings taken at
such meeting and I do hereby certify as follows :
1 . I am the duly chosen, qualified and acting officer
of the City for the office shown beneath my signature, and
in such capacity I am familiar with the matters contained in
this certificate.
2 . The attached and foregoing is a true and correct
copy of the Notice of Meeting which was posted by me at
Ao; o ' clock p.m. on the 9 day of o27 1977 ,
in a place readily accessible t the general public t all
times, to-wit :
in the City Hall- of the City.
WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this
9 day of 1977 .
it Secretary
y
CITY OF PEARLA D, TEXAS
(SEAL)
CERTIFICATE FOR RESOLUTION APPROVING CLAIM AND
AUTHORIZING THE ISSUANCE OF CERTIFICATES OF OBLIGATION
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
We, the undersigned officers of the CITY OF PEARLAND,
TEXAS (the "City" ) , do hereby certify as follows :
1 . That we are the duly chosen, qualified and acting
officers of the City for the offices shown below our signatures
and that as such we are familiar with the facts herein certified .
2 . That there is attached to and follows this certificate
an excerpt of proceedings from the minutes of a meeting of the
City Council of the City (the "City Council" ) which is a true,
full and complete excerpt of all proceedings from the minutes of
the City Council pertaining to the adoption of the resolution de-
scribed therein; and that the persons named in such excerpt as
the officers and members of the City Council or as officers of
the City are the duly chosen, qualified and acting officers and
members as indicated therein.
3 . That a true and complete copy of the resolution (the
"Resolution") , as adopted at the meeting described in such excerpt
from the minutes, is attached to and follows such excerpt .
4 . That the Resolution has been duly and lawfully adopted
by the City Council and that the Mayor of the City has approved,
and hereby approves, the Resolution; that the Mayor and the City
Secretary of the City have duly signed and attested the Resolution
and each, respectively, hereby declares that the signing of this
certificate shall also constitute the signing of the Resolution
for all purposes ; and that the Resolution, as signed, has been
duly recorded in the minutes of the City Council for such meeting.
5 . That each of the officers and members of the City
Council was duly and sufficiently notified officially and per-
sonally, in advance, of the date, hour, place and subject of
such meeting of the City Council, and that the Resolution would
be introduced and considered for passage at such meeting, and
each of such officers and members consented, in advance, to the
holding of such meeting to consider and act upon such subject .
6 . That written notice of the meeting of the City Council
described in the excerpt from the minutes was posted in the form
and manner required by law; and that such meeting was open to the
public as required by law at all times during which the Resolution
and the subject matter thereof were discussed, considered and
formally acted upon, all as required by the Open Meetings Act ,
Article 6252-17 , Vernon' s Texas Civil Statutes , as amended .
SIGNED AND SEALED this 14th day of February, 1977 .
City Se etary Mayor
(SEAL)
•
CERTIFICATE FOR ORDINANCE AUTHORIZING ISSUANCE OF $195, 000
CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION,
SERIES 1976-A; RATIFYING CONTRACT OR CONTRACTS; AND
CONTAINING OTHER PROVISIONS RELATING TO THE SUBJECT
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
We, the undersigned officers of the CITY OF PEARLAND,
TEXAS (the "City") , do hereby certify as follows :
1 . That we are the duly chosen, qualified and acting
officers of the City for the offices shown below our signatures
and that as such we are familiar with the facts herein certified .
2. That there is attached to and follows this certificate
an excerpt of proceedings from the minutes of a meeting of the
City Council of the City (the "City Council") which is a true,
full and complete excerpt of all proceedings from the minutes of
the City Council pertaining to the adoption of the ordinance de-
scribed therein; and that the persons named in such excerpt as
the officers and members of the City Council or as officers of
the City are the duly chosen, qualified and acting officers and
members as indicated therein.
3 . That a true and complete copy of the ordinance (the
"Ordinance" ) , as adopted at the meeting described in such excerpt
from the minutes, is attached to and follows such excerpt .
4 . That the Ordinance has been duly and lawfully adopted
by the City Council and that the Mayor of the City has approved,
and hereby approves, the Ordinance; that the Mayor and the City
Secretary of the City have duly signed and attested the Ordinance
and each, respectively, hereby declares that the signing of this
certificate shall also constitute the signing of the Ordinance
for all purposes; and that the Ordinance, as signed, has been
duly recorded in the minutes of the City Council for such meeting.
5 . That each of the officers and members of the City
Council was duly and sufficiently notified officially and per-
sonally, in advance, of the date, hour, place and subject of
such meeting of the City Council, and that the Ordinance would
be introduced and considered for passage at such meeting, and
each of such officers and members consented, in advance, to the
holding of such meeting to consider and act upon such subject .
6 . That written notice of the meeting of the City Council
described in the excerpt from the minutes was posted in the form
and manner required by law; and that such meeting was open to the
public as required by law at all times during which the Ordinance
and the subject matter thereof were discussed, considered and
formally acted upon, all as required by the Open Meetings Act ,
Article 6252-17, Vernon' s Texas Civil Statutes , as amended .
SIGNED AND SEALED this 16th day of July, 1976 .
• eett"/ ah-Lv )1196AL,-._-
City Se et ry Mayor
(SEAL)
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
The City Council of the City of Pearland, Texas, convened
in regular meeting, open to the public, on the 12th day of
July, 1976, at the City Hall, and the roll was called of the
duly constituted officers and members of the City Council and
the City Secretary of the City, to-wit :
Carlton McComb. Mayor
Tom Reid Councilman and
Mayor Pro Tem
Cecil W. Griffin Councilman
Harry Farley Councilman
Terry Gray Councilman
Benny J . Frank Councilman
Dorothy L. Cook City Secretary
Dorothy S. Thompson Assistant City Secretary
and all of said persons were present , except the following ab-
sentees : Cecil W. Griffin, thus constituting a quorum. After
certain business was transacted the Mayor announced publicly
that said meeting was recessed and would be reconvened on the
16th day of July, 1976, at 5 : 30 p .m. at the same place . The
meeting was duly reconvened at such time and place, and all of
the persons listed above were present , except the following
absentees : Councilmen Farley & Griffin. City Secretary Dorothy L. Cook
thus constituting a quorum. Whereupon, among other business ,
the following was transacted at said meeting : a written ordi-
nance entitled:
ORDINANCE NO . 333
ORDINANCE AUTHORIZING ISSUANCE OF $195, 000 CITY
OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION,
SERIES 1976-A; RATIFYING CONTRACT OR CONTRACTS ; AND
CONTAINING OTHER PROVISIONS RELATING TO THE SUBJECT
(the "Ordinance") was duly introduced for the consideration
of the City Council and reviewed in full. It was then duly
moved and seconded that the Ordinance be passed; and, after
due discussion, the motion, carrying with it the passage of
the Ordinance, prevailed and carried by the following vote :
AYES : All members of the City Council shown
present above voted "Aye" .
NOES : None .
The Mayor thereupon announced that the Ordinance had been duly
and lawfully adopted on first reading . The Ordinance thus
adopted follows :
• ms �� �� �� ^ .m,
ORDINANCE NO . 333
ORDINANCE AUTHORIZING ISSUANCE OF $195, 000 CITY
OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION,
SERIES 1976-A; RATIFYING CONTRACT OR CONTRACTS; AND
CONTAINING OTHER PROVISIONS RELATING TO THE SUBJECT
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
WHEREAS, the City Council of the CITY OF PEARLAND, TEXAS
(the "City") , authorized the publication of a notice to bidders
to the effect that competitive bids would be received by the
City Council on July 12, 1976, for furnishing materials and
supplies for improving the roads, bridges and streets of the
City, to-wit : (1) base material and fill; (2) hot-mix asphalt
surfacing material; and (3) bridge construction materials and
supplies, and that the City intends to issue certificates of
obligation for the purchase, or purchases, of such materials
and supplies; and
WHEREAS, such notice was published at the times and in
the manner required by the Constitutions and laws of the State
of Texas and of the United States of America, respectively,
particularly Article 2368a.1, Vernon ' s Tetras Civil Statutes,
as amended; and
WHEREAS, on the date specified in said notice the City
Council caused the bids received to be opened and tabulated
and the following have been determined to be the lowest and
best bids :
Amount
Bidder of Bid
(base material
CHENNAULT MATERIALS, INC . , Houston and fill) $74, 450 . 00
(hot-mix asphalt
WARREN BROS . CO. , Houston surfac . material) $60,310 . 00
(bridge construc .
PEARLAND LUMBER CO . , Pearland materials & sup . ) $25, 632 . 33
mimm
and the City Council has heretofore, by resolution, determined
to accept such bids and has entered into contracts for such
materials and supplies; and
WHEREAS, it is hereby found and determined that such bids
in every respect meet the specifications mentioned in the
notice to bidders; and
WHEREAS, the said bidders elected at the time of the re-
ceipt by the City Council of such bids to assign such certifi-
cates without discount to UNDERWOOD, NEUHAUS & CO. , INCORPORATED,
Houston, Texas , with whom the City Council has made provision
for such assignment ; and
WHEREAS, it is hereby found and determined that the City
Council is authorized to proceed with the issuance of said
certificates of obligation in accordance with the terms and
provisions of this ordinance;
THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF PEARLAND THAT:
Section 1 . The facts and recitations contained in the
preamble of this ordinance are hereby found and declared to
be true and correct .
Section 2 . The City Council hereby approves , ratifies ,
and confirms in all respects the contracts mentioned in the
preamble of this ordinance .
Section 3 . The City' s negotiable certificates of obliga-
tion, to be designated CITY OF PEARLAND, TEXAS, CERTIFICATES
OF OBLIGATION, SERIES 1976-A (hereinafter called the "Certifi-
cates" ) , are hereby authorized to be issued and delivered in
the principal amount of $195, 000 for the purpose of evidencing
the indebtedness of the City for all or any part of the cost
-2-
—.1
of purchasing materials and supplies for improving the roads ,
bridges and streets of the City, to-wit : (1) base material
and fill; (2) hot-mix asphalt surfacing material; and (3)
bridge construction materials and supplies, including the cost
of professional services in connection therewith, in strict
conformity with the Constitution and laws of the State of Texas ,
particularly Article 2368a .1, Vernon' s Texas Civil Statutes, as
amended.
Section 4 . The Certificates shall be dated July 1, 1976,
shall be numbered consecutively from 1 through 195, shall be
in the denomination of $1, 000 each and shall mature serially
on August 1 of each of the years, and in the amounts , respec-
tively, set forth in the following schedule :
YEAR AMOUNT
1986 $ 5, 000
1987 35, 000
1988 35, 000
1989 40, 000
1990 40,000
1991 40,000
Section 5 . The Certificates shall bear interest from the
date of initial delivery shown on the face of each Certificate
at the rate of 6. 25% per annum, interest payable on the dates
indicated in the FORM OF CERTIFICATE set forth in this ordi-
nance .
Section 6. The Certificates shall be registrable both as
to principal and interest, shall be payable, and shall have
the characteristics, and shall be signed and executed (and the
Certificates shall be sealed) , all as provided and in the man-
ner indicated in the FORM OF CERTIFICATE set forth in this
ordinance .
-3-
pm.=
Certificate shall be deemed and construed (i) to be a "Security"
within the meaning of Chapter 8, Investment Securities , Uniform
Commercial Code (Chapter 785, Acts of the 60th Legislature,
Regular Session, 1967) , and (ii) to be a general obligation of
the City within the meaning of Chapter 784, Acts of the 61st
Legislature of Texas, Regular Session, 1969 .
THIS CERTIFICATE shall be transferable by delivery unless
registered as to principal in the owner ' s name upon books of
the City to be kept for that purpose at the office of the City
Secretary of the City, the registrar, such registration to be
noted hereon. After such registration, no transfer of this
Certificate shall be valid unless made on said books at the
request of the registered owner hereof, or his duly authorized
agent, and similarly noted hereon; but this Certificate may be
discharged from registration by being in like manner transferred
to bearer, whereupon transferability by delivery shall be re-
stored; and this Certificate may again and from time to time
be registered or made payable to bearer as before .
IN WITNESS WHEREOF, this Certificate of Obligation has
been signed by the Mayor of the City and countersigned by the
City Secretary of the City, and the official seal of the City
has been duly impressed, or placed in facsimile, on this Cer-
tificate .
DATE OF INITIAL DELIVERY OF THIS CERTIFICATE :
xxxxxxxxxx
COUNTERSIGNED : Mayor
City of Pearland, Texas
xxxxxxxxxx
City Secretary
City of Pearland, Texas
(SEAL)
-6-
CERTIFICATE OF REGISTRATION:
IT IS HEREBY CERTIFIED that , at the request of the holder
of the within Certificate, I have this day registered it as to
principal in the name of such holder as indicated in the regis-
tration blank below, on the books kept by me for such purpose .
The principal of and interest on this Certificate shall be pay-
able only to the registered holder named in the below registra-
tion blanks . If the last transfer recorded on the books of
the Registrar and in the below registration blank shall be to
bearer, the principal and interest of this Certificate shall
be payable to bearer, and such Certificate shall be in all
respects negotiable .
Signature of
Name of Date of City Secretary
Registered Holder Registration (Registrar)
Section 8 . A special fund or account , to be designated
the "City of Pearland, Texas, Certificates of Obligation,
Series 1976-A, Interest and Sinking Fund" (hereinafter called
the "Interest and Sinking Fund" ) , is hereby created and shall
be established and maintained by the City at an official de-
pository bank of the City. The Interest and Sinking Fund shall
be kept separate and apart from all other funds and accounts of
-7-
the City and shall be used only for paying the interest on and
principal of the Certificates . All ad valorem taxes levied and
collected for and on account of the Certificates shall be de-
posited, as collected, to the credit of the Interest and Sinking
Fund . During each year while any of the Certificates are out-
standing and unpaid, the City Council of the City shall compute
and ascertain a rate and amount of ad valorem tax which will be
sufficient to raise and produce the money required to pay the
interest on the Certificates as such interest comes due and to
provide and maintain a sinking fund adequate to pay the principal
of the Certificates as such principal matures but never less than
2% of the original principal amount of the Certificates as a
sinking fund each year; and said tax shall be based on the latest
approved tax rolls of the City, with full allowance being made
for tax delinquencies and the cost of tax collection . Said rate
and amount of ad valorem tax are hereby levied, and are hereby
ordered to be levied, against all taxable property in the City
for each year while any of the Certificates are outstanding and
unpaid; and said tax shall be assessed and collected each such
year and deposited to the credit of the Interest and Sinking
Fund . Said ad valorem taxes sufficient to provide for the pay-
ment of the interest on and principal of the Certificates, as
such interest comes due and such principal matures , are hereby
pledged irrevocably for such payment within the limits prescribed
by law.
Section 9 . Claims incurred for the purposes set forth in
Section 3 hereof may be funded and exchanged for a like total
principal amount of Certificates, and any amount in excess of
-8-
, r
the principal amount of Certificates delivered at any one time
may be paid in cash or carried forward to a subsequent exchange,
or exchanges, of claims for Certificates . However, none of the
Certificates authorized by this ordinance shall be delivered
except pursuant to a further ordinance, or ordinances, to be
adopted by this City Council .
Section 10. The Mayor and all other appropriate officers
of the City are hereby authorized and directed to do any and
all things necessary or convenient to carry out the provisions
of this ordinance.
Section 11. This ordinance shall take effect immediately
upon its passage on second reading.
Section 12 . It is hereby officially found and determined
that the need of the City for such financing creates an emer-
gency and an urgent public necessity for the holding, at the
scheduled time, of the meeting of the City Council at which
this ordinance is adopted and for the adoption of this ordi-
nance; and the NOTICE OF MEETING relating to said meeting and
heretofore posted by the City Secretary, and the posting
thereof, are hereby authorized, approved, adopted and ratified .
PASSED AND APPROVED this 16th day of July, 1976 .
/s/ Carlton McComb
ATTEST:
Mayor
CITY OF PEARLAND, TEXAS
/s/ Dorothy L. Cook
City Secretary
CITY OF PEARLAND, TEXAS
(SEAL)
-9-
pr. roma p.m. p—" wimmi mom ...m% —w
a
NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
NOTICE is hereby given of a meeting of the City Council
of the CITY OF PEARLAND, Brazoria and Harris Counties, Texas
(the "City" ) , to be held on the 26th day of July, 1976, at
7 : 30 p .m. in the :
City Hall
Pearland, Texas
for the purpose of considering and, if deemed advisable by
the City Council, adopting ordinances authorizing issuance of
Certificates of Obligation of the City and for the purpose of
conducting, considering and acting upon such other business
as shall come before the meeting.
The need of the City for such financing creates an emer-
gency and an urgent public necessity for the holding of the
meeting and for the adoption of such ordinances at the meeting.
WITNESS MY HAND AND OFFICIAL SEAL OF THE CITY, this a6
day of July, 1976 .
/s/ Dorothy L . Cook
City Secretary
CITY OF PEARLAND, TEXAS
(SEAL)
I-
CERTIFICATE OF POSTING
OF NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
I, the undersigned officer of the CITY OF PEARLAND,
Brazoria and Harris Counties , Texas (the "City" ) , do hereby
execute this certificate for the benefit of all persons in-
terested in the posting of notice of a meeting of the City
Council of the City as required by the Open Meetings Act
(Article 6252-17, Vernon ' s Texas Civil Statutes , as amended)
and the validity of all actions and proceedings taken at such
meeting and I do hereby certify as follows :
1 . I am the duly chosen, qualified and acting officer
'of the City for the office shown beneath my signature , and
in such capacity I am familiar with the matters contained in
this certificate .
2 . The attached and foregoing is a true and correct
copy of the Notice of Meeting which was po d by me at
/o :oo o ' clock A .m. on the a4 day of , 1976,
in a place readily accessible to thner l pu is at all
times, to-wit :
3
in the City Hall of the City .
WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this
U day of , 1976 .
City Secretary
CITY OF PEARL , TEXAS .�
(SEAL)
CERTIFICATE FOR ORDINANCE AUTHORIZING ISSUANCE OF $195 ,000
CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION,
SERIES 1976-A; RATIFYING CONTRACT OR CONTRACTS; AND
CONTAINING OTHER PROVISIONS RELATING TO THE SUBJECT
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
We, the undersigned officers of the CITY OF PEARLAND,
TEXAS (the "City") , do hereby certify as follows :
1 . That we are the duly chosen, qualified and acting
officers of the City for the offices shown below our signatures
and that as such we are familiar with the facts herein certified .
2 . That there is attached to and follows this certificate
an excerpt of proceedings from the minutes of a meeting of the
City Council of the City (the "City Council" ) which is a true,
full and complete excerpt of all proceedings from the minutes of
the City Council pertaining to the adoption of the ordinance de-
scribed therein; and that the persons named in such excerpt as
the officers and members of the City Council or as officers of
the City are the duly chosen, qualified and acting officers and
members as indicated therein.
3. That a true and complete copy of the ordinance (the
"Ordinance" ) , as adopted at the meeting described in such excerpt
from the minutes , is attached to and follows such excerpt .
4 . That the Ordinance has been duly and lawfully adopted
by the City Council and that the Mayor of the City has approved,
and hereby approves, the Ordinance; that the Mayor and the City
Secretary of the City have duly signed and attested the Ordinance
and each, respectively, hereby declares that the signing of this
certificate shall also constitute the signing of the Ordinance
for all purposes; and that the Ordinance, as signed, has been
duly recorded in the minutes of the City Council for such meeting .
5 . That each of the officers and members of the City
Council was duly and sufficiently notified officially and per-
sonally, in advance, of the date, hour, place and subject of
such meeting of the City Council, and that the Ordinance would
be introduced and considered for passage at such meeting, and
each of such officers and members consented, in advance, to the
holding of such meeting to consider and act upon such subject .
6 . That written notice of the meeting of the City Council
described in the excerpt from the minutes was posted in the form
and manner required by law; and that such meeting was open to the
public as required by law at all times during which the Ordinance
and the subject matter thereof were discussed, considered and
formally acted upon, all as required by the Open Meetings Act ,
Article 6252-17, Vernon' s Texas Civil Statutes , as amended .
SIGNED AND SEALED this 26th day ofJuly, 1976 .
6)(0-41.631-K-
City a e��t r'y Mayor
or
(SEAL)
r
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
The City Council of the City of Pearland, Texas , convened
in regular meeting, open to the public , on the 26th day of
July, 1976, at the City Hall , and the roll was called of the
duly constituted officers and members of the City Council and
the City Secretary of the City, to-wit :
Carlton McComb Mayor
Tom Reid Councilman and
Mayor Pro Tem
Cecil W. Griffin Councilman
Harry Farley Councilman
Terry Gray Councilman
Benny J . Frank Councilman
Dorothy L. Cook City Secretary
and all of said persons were present , except the following ab-
sentees : NONE 3
thus constituting a quorum. Whereupon, among other business ,
the following was transacted at said meeting: a written ordi-
nance entitled :
ORDINANCE NO . 333
ORDINANCE AUTHORIZING ISSUANCE OF $195 ,000 CITY
OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION,
SERIES 1976-A; RATIFYING CONTRACT OR CONTRACTS ; AND
CONTAINING OTHER PROVISIONS RELATING TO THE SUBJECT
(the "Ordinance") was duly introduced for the consideration
of the City Council and reviewed in full . It was then duly
moved and seconded that the Ordinance be passed; and, after
due discussion, the motion, carrying with it the passage of
the Ordinance, prevailed and carried by the following vote :
AYES : All members of the City Council shown
present above voted "Aye" .
NOES : None .
The Mayor thereupon announced that the Ordinance had been duly
and lawfully adopted on second and final reading. The Ordi-
nance thus adopted follows :
wmm
ORDINANCE NO . 333
ORDINANCE AUTHORIZING ISSUANCE OF $195, 000 CITY
OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION,
SERIES 1976-A; RATIFYING CONTRACT OR CONTRACTS ; AND
CONTAINING OTHER PROVISIONS RELATING TO THE SUBJECT
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
WHEREAS, the City Council of the CITY OF PEARLAND, TEXAS
(the "City") , authorized the publication of a notice to bidders
to the effect that competitive bids would be received by the
City Council on July 12, 1976, for furnishing materials and
supplies for improving the roads, bridges and streets of the
City, to-wit : (1) base material and fill; (2) hot-mix asphalt
surfacing material; and ( 3) bridge construction materials and
supplies, and that the City intends to issue certificates of
obligation for the purchase, or purchases, of such materials
and supplies; and
WHEREAS, such notice was published at the times and in
the manner required by the Constitutions and laws of the State
of Texas and of the United States of America, respectively,
particularly Article 2368a .1, Vernon' s Texas Civil Statutes ,
as amended; and
WHEREAS, on the date specified in said notice the City
Council caused the bids received to be opened and tabulated
and the following have been determined to be the lowest and
best bids :
Amount
Bidder of Bid
(base material
CHENNAULT MATERIALS, INC . , Houston and fill) $74,450 . 00
(hot-mix asphalt
WARREN BROS . CO . , Houston surfac . material) $60,310 . 00
(bridge construc .
PEARLAND LUMBER CO . , Pearland materials & sup . ) $25 ,632 . 33
and the City Council has heretofore, by resolution, determined
to accept such bids and has entered into contracts for such
materials and supplies; and
WHEREAS, it is hereby found and determined that such bids
in every respect meet the specifications mentioned in the
notice to bidders; and
WHEREAS, the said bidders elected at the time of the re-
ceipt by the City Council of such bids to assign such certifi-
cates without discount to UNDERWOOD, NEUHAUS & CO . , INCORPORATED,
Houston, Texas , with whom -the City Council has made provision
for such assignment; and
WHEREAS, it is hereby found and determined that the City
Council is authorized to proceed with the issuance of said
certificates of obligation in accordance with the terms and
provisions of this ordinance;
THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF PEARLAND THAT:
Section 1 . The facts and recitations contained in the
preamble of this ordinance are hereby found and declared to
be true and correct .
Section 2 . The City Council hereby approves , ratifies ,
and confirms in all respects the contracts mentioned in the
preamble of this ordinance.
Section 3 . The City' s negotiable certificates of obliga-
tion, to be designated CITY OF PEARLAND, TEXAS, CERTIFICATES
OF OBLIGATION, SERIES 1976-A (hereinafter called the "Certifi-
cates" ) , are hereby authorized to be issued and delivered in
the principal amount of $195,000 for the purpose of evidencing
the indebtedness of the City for all or any part of the cost
-2-
of purchasing materials and supplies for improving the roads,
bridges and streets of the City , to-wit : (1) base material
and fill ; (2 ) hot-mix asphalt surfacing material; and (3)
bridge construction materials and supplies , including the cost
of professional services in connection therewith, in strict
conformity with the Constitution and laws of the State of Texas,
particularly Article 2368a .1, Vernon ' s Texas Civil Statutes, as
amended .
Section 4 . The Certificates shall be dated July 1, 1976,
shall be numbered consecutively from 1 through 195, shall be
in the denomination of $1, 000 each and shall mature serially
on August 1 of each of the years, and in the amounts , respec-
tively, set forth in the following schedule :
YEAR AMOUNT
1986 $ 5, 000
1987 35,000
1988 35, 000
1989 40, 000
1990 40, 000
1991 40, 000
Section 5 . The Certificates shall bear interest from the
date of initial delivery shown on the face of each Certificate
at the rate of 6. 25% per annum, interest payable on the dates
indicated in the FORM OF CERTIFICATE set forth in this ordi-
nance .
Section 6 . The Certificates shall be registrable both as
to principal and interest, shall be payable, and shall have
the characteristics , and shall be signed and executed (and the
Certificates shall be sealed) , all as provided and in the man-
ner indicated in the FORM OF CERTIFICATE set forth in this
ordinance.
-3 •
-
Section 7 . The form of Certificates , including the form
of the Certificate of Registration, shall be , respectively,
substantially as follows :
FORM OF CERTIFICATE:
NO. $1,000
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTIES OF BRAZORIA AND HARRIS
CITY OF PEARLAND, TEXAS
CERTIFICATE OF OBLIGATION
SERIES 1976-A
ON AUGUST 1, 19 , the CITY OF PEARLAND (hereinafter
called the "City") , in the Counties of Brazoria and Harris ,
in the State of Texas, promises to pay to bearer or, if this
Certificate is registered, to the registered owner hereof,
the principal amount of
ONE THOUSAND DOLLARS
and to pay interest thereon, FROM THE DATE OF INITIAL DELIVERY
SHOWN ON THE FACE HEREOF, to bearer or, if this Certificate
is registered, to the registered owner hereof, at the rate of
6 . 25% per annum, interest payable August 1, 1977, and annually
thereafter on each August 1 while this Certificate is out-
standing. Both the principal of and interest on this Certifi-
cate shall be payable, without exchange or collection charges
to the owners or holders, upon presentation and, in the case
of the principal when due, surrender of this Certificate at
the PEARLAND STATE BANK, Pearland, Texas, which shall be the
paying agent for this series of Certificates .
THIS CERTIFICATE is one of a series of negotiable, regis-
trable Certificates of Obligation, dated July 1 , 1976, numbered
-4-
from 1 through 195, in the denomination of $1, 000 each, aggre-
gating $195, 000, issued in accordance with the Constitution
and laws of the State of Texas, particularly Article 2368a. 1,
Vernon' s Texas Civil Statutes, as amended, for the purpose of
evidencing the indebtedness of the City for all or any part of
the cost of purchasing materials and supplies for improving
the roads, bridges and streets of the City, to-wit : (1 ) base
material and fill; ( 2) hot-mix asphalt surfacing material; and
(3) bridge construction materials and supplies, including the
cost of professional services in connection therewith, and
pursuant to an ordinance adopted by the City Council of the
City on the 12th day of July, 1976 .
IT IS HEREBY certified, recited, and covenanted that this
Certificate has been duly and validly authorized, issued, and
delivered; that all acts , conditions , and things required or
proper to be performed, exist , and be done precedent to or in
the issuance and delivery of this Certificate, have been per-
formed, existed, and been done in accordance with law; that
this Certificate is a general obligation of the City, issued
on the full faith and credit thereof; that annual ad valorem
taxes sufficient to provide for the payment of the interest on
and principal of this Certificate, as such interest comes due
and such principal matures , have been levied and ordered to
be levied against all taxable property in the City and have
been pledged irrevocably for such payment within the limits
prescribed by law; that this Certificate shall be a debt of
the City within the meaning of Article XI , Sections 5 and 7
of the Constitution of Texas; and that , when delivered, this
-5-
rmm pm pm= mums — sown. mow. =mon �mq
Certificate shall be deemed and construed (i) to be a "Security"
within the meaning of Chapter 8, Investment Securities , Uniform
Commercial Code (Chapter 785, Acts of the 60th Legislature ,
Regular Session, 1967) , and (ii ) to be a general obligation of
the City within the meaning of Chapter 784, Acts of the 61st
Legislature of Texas, Regular Session, 1969 .
THIS CERTIFICATE shall be transferable by delivery unless
registered as to principal in the owner ' s name upon books of
the City to be kept for that purpose at the office of the City
Secretary of the City, the registrar , such registration to be
noted hereon. After such registration, no transfer of this
Certificate shall be valid unless made on said books at the
request of the registered owner hereof, or his duly authorized
agent, and similarly noted hereon; but this Certificate may be
discharged from registration by being in like manner transferred
to bearer, whereupon transferability by delivery shall be re-
stored; and this Certificate may again and from time to time
be registered or made payable to bearer as before .
IN WITNESS WHEREOF, this Certificate of Obligation has
been signed by the Mayor of the City and countersigned by the
City Secretary of the City, and the official seal of the City
has been duly impressed, or placed in facsimile, on this Cer-
tificate .
DATE OF INITIAL DELIVERY OF THIS CERTIFICATE :
xxxxxxxxxx
COUNTERSIGNED : Mayor
City of Pearland, Texas
xxxxxxxxxx
City Secretary
City of Pearland, Texas
(SEAL)
-6-
CERTIFICATE OF REGISTRATION:
IT IS HEREBY CERTIFIED that , at the request of the holder
of the within Certificate, I have this day registered it as to
principal in the name of such holder as indicated in the regis-
tration blank below, on the books kept by me for such purpose.
The principal of and interest on this Certificate shall be pay-
able only to the registered holder named in the below registra-
tion blanks . If the last transfer recorded on the books of
the Registrar and in the below registration blank shall be to
bearer, the principal and interest of this Certificate shall
be payable to bearer, and such Certificate shall be in all
respects negotiable .
Signature of
Name of Date of City Secretary
Registered Holder Registration (Registrar)
Section 8 . A special fund or account , to be designated
the "City of Pearland, Texas, Certificates of Obligation,
Series 1976-A, Interest and Sinking Fund" (hereinafter called
the "Interest and Sinking Fund" ) , is hereby created and shall
be established and maintained by the City at an official de-
pository bank of the City. The Interest and Sinking Fund shall
be kept separate and apart from all other funds and accounts of
-7-
the City and shall be used only for paying the interest on and
principal of the Certificates . All ad valorem taxes levied and
collected for and on account of the Certificates shall be de-
posited, as collected, to the credit of the Interest and Sinking
Fund. During each year while any of the Certificates are out-
standing and unpaid, the City Council of the City shall compute
and ascertain a rate and amount of ad valorem tax which will be
sufficient to raise and produce the money required to pay the
interest -on the Certificates as such interest comes due and to
provide and maintain a sinking fund adequate to pay the principal
of the Certificates as such principal matures but never less than
2% of the original principal amount of the Certificates as a
sinking fund each year; and said tax shall be based on the latest
approved tax rolls of the City, with full allowance being made
for tax delinquencies and the cost of tax collection. Said rate
and amount of ad valorem tax are hereby levied, and are hereby
ordered to be levied, against all taxable property in the City
for each year while any of the Certificates are outstanding and .
unpaid; and said tax shall be assessed and collected each such
year and deposited to the credit of the Interest and Sinking
Fund . Said ad valorem taxes sufficient to provide for the pay-
ment of the interest on and principal of the Certificates, as
such interest comes due and such principal matures , are hereby
pledged irrevocably for such payment within the limits prescribed
by law.
Section 9 . Claims incurred for the purposes set forth in
Section 3 hereof may be funded and exchanged for a like total
principal amount of Certificates , and any amount in excess of
-8-
the principal amount of Certificates delivered at any one time
may be paid in cash or carried forward to a subsequent exchange,
or exchanges, of claims for Certificates . However, none of the
Certificates authorized by this ordinance shall be delivered
except pursuant to a further ordinance, or ordinances , to be
adopted by this City Council.
Section 10 . The Mayor and all other appropriate officers
of the City are hereby authorized and directed to do any and
all things necessary or convenient to carry out the provisions
of this ordinance.
Section 11 . This ordinance shall take effect immediately
upon its passage on second reading .
Section 12 . It is hereby officially found and determined
that the need of the City for such financing creates an emer-
gency and an urgent public necessity for the holding, at the
scheduled time, of the meeting of the City Council at which
this ordinance is adopted and for the adoption of this ordi-
. nance; and the NOTICE OF MEETING relating to said meeting and
heretofore posted by the City Secretary, and the posting
thereof, are hereby authorized, approved, adopted and ratified .
PASSED AND APPROVED this 26th day of July, 1976 .
/s/ Carlton McComb
ATTEST:
Mayor
CITY OF PEARLAND, TEXAS
/s/ Dorothy L. Cook
City Secretary
CITY OF PEARLAND, TEXAS
(SEAL)
-9-
•
CERTIFICATE OF POSTING
OF NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
I , the undersigned officer of the CITY OF PEARLAND,
Brazoria and Harris Counties , Texas (the "City" ) , do hereby
execute this certificate for the benefit of all persons in-
terested in the posting of notice of a meeting of the City
Council of the City as required by the Open Meetings Act
(Article 6252-17, Vernon' s Texas Civil Statutes , as amended )
and the validity of all actions and proceedings taken at such
meeting and I do hereby certify as follows :
1 . I am the duly chosen, qualified and acting officer
of the City for the office shown beneath my signature , and
in such capacity I am familiar with the matters contained in
this certificate .
2. The attached and foregoing is a true and correct
copy of the Notice of Meeting which was posted by me at
o ' clock '7'.m. on the / day of Q�l , 1976,
in a place readily accessible to th general public at all
times, to-wit : Lfc._,,, _,
in the City Hall of the City .
WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this
(12 day of , 1976 .
(-City Secretary
CITY OF PEARLA , TEXAS
(SEAL)
CERTIFICATE FOR RESOLUTION APPROVING CLAIM AND
AUTHORIZING THE ISSUANCE OF CERTIFICATES OF OBLIGATION
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
We, the undersigned officers of the CITY OF PEARLAND,
TEXAS (the "City" ) , do hereby certify as follows :
1. That we are the duly chosen, qualified and acting
officers of the City for the offices shown below our signatures
and that as such we are familiar with the facts herein certified .
2 . That there is attached to and follows this certificate
an excerpt of proceedings from the minutes of a meeting of the
City Council of the City (the "City Council" ) which is a true,
full and complete excerpt of all proceedings from the minutes of
the City Council pertaining to the adoption of the resolution de-
scribed therein; and that the persons named in such excerpt as
the officers and members of the City Council or as officers of
the City are the duly chosen, qualified and acting officers and
members as indicated therein.
3 . That a true and complete copy of the resolution (the
"Resolution" ) , as adopted at the meeting described in such excerpt
from the minutes, is attached to and follows such excerpt .
4 . That the Resolution has been duly and lawfully adopted
by the City Council and that the Mayor of the City has approved,
and hereby approves, the Resolution; that the Mayor and the City
Secretary of the City have duly signed and attested the Resolution
• and each, respectively, hereby declares that the signing of this
certificate shall also constitute the signing of the Resolution
for all purposes; and that the Resolution, as signed, has been
duly recorded in the minutes of the City Council for such meeting.
5 . That each of the officers and members of the City
Council was duly and sufficiently notified officially and per-
sonally, in advance, of the date, hour, place and subject of
such meeting of the City Council, and that the Resolution would
be introduced and considered for passage at such meeting, and
each of such officers and members consented, in advance, to the
holding of such meeting to consider and act upon such subject .
6. That written notice of the meeting of the City Council
described in the excerpt from the minutes was posted in the form
and manner required by law; and that such meeting was open to the
public as required by law at all times during which the Resolution
and the subject matter thereof were discussed, considered and
formally acted upon, all as required by the Open Meetings Act ,
Article 6252-17, Vernon' s Texas Civil Statutes, as amended .
SIGNED AND SEALED this 8th day of November, 1976 .
)://125-(Slik-
City c etary Mayor
(SEAL)
isimm
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
The City Council of the City of Pearland, Texas, convened
in regular meeting, open to the public , on the 8th day of
November, 1976, at the City Hall, and the roll was called of
the duly constituted officers and members of the City Council
and the City Secretary of the City, to-wit :
Carlton McComb Mayor
Tom Reid Councilman and
Mayor Pro Tem
Cecil W. Griffin Councilman
Harry Farley Councilman
Terry Gray Councilman
Benny J . Frank Councilman
Dorothy L . Cook City Secretary
and all of said person were present , except the following ab-
sentees : B.X�
thus constituting a q orum. Whereupon, among other business ,
the following was transacted at said meeting : a written reso-
lution entitled :
RESOLUTION APPROVING CLAIM AND AUTHORIZING
THE ISSUANCE OF CERTIFICATES OF OBLIGATION
(the "Resolution" ) was duly introduced for the consideration
of the City Council and reviewed in full. It was then duly
moved and seconded that the Resolution be passed; and , after
due discussion, the motion, carrying with it the passage of
the Resolution, prevailed and carried by the following vote :
AYES: All members of the City Council shown
present above voted "Aye" .
NOES : None .
The Mayor thereupon announced that the Resolution had been duly
and lawfully adopted. The Resolution thus adopted follows :
RESOLUTION APPROVING CLAIM AND AUTHORIZING
THE ISSUANCE OF CERTIFICATES OF OBLIGATION
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
WHEREAS, the City Council of the CITY OF PEARLAND, TEXAS
(the "City") , by resolution adopted June 14, 1976, found that
it was necessary and desirable for the City to purchase materials
and supplies for improving the roads , bridges and streets of
the City, to-wit : (1) base material and fill; (2 ) hot-mix
asphalt surfacing material; and (3 ) bridge construction materials
and supplies, and that certificates of obligation be issued by
the City for all or any part of the cost of same; and
WHEREAS, the City Council gave due and proper notice to
bidders of the time, place, when and where a contract , or con-
tracts, for the purchase of such materials and supplies would
be let and due and proper notice of its intention to issue
such certificates of obligation; and
WHEREAS, the City Council thereafter awarded a contract
to PEARLAND LUMBER CO. , INC . , Pearland, Texas (the "Contractor")
in the amount of $25, 632 . 33, as the lowest and best bid for the
furnishing of the bridge construction materials and supplies
and the Contractor at the time of the receipt of such bid
elected to assign such certificates in payment for all or any
part of the cost of the contract in accordance with the arrange-
ments made by the City Council; and
WHEREAS, the Contractor, as shown on a true copy of its
Claim No . 1, attached hereto as Exhibit "A" and made a part
hereof as if fully written herein, has submitted said claim for
furnishing such materials and supplies ; and
Section 2 . The claim described in the preamble of this
resolution and fully set forth in Exhibit "A" mentioned in said
preamble shall be, and the same is hereby, approved and allowed,
and the City hereby acknowledges receipt of the full benefits
represented by said claim to the full extent thereof and -to the
full extent of the certificates of obligation herein authorized
to be delivered; and the City hereby recognizes and approves the
transfer and assignment of said claim and account to Pearland
State Bank, Pearland, Texas .
Section 3 . There is now due and owing to said bank the
sum of $25, 000. 00 and to the Contractor the sum of $464 . 81 .
Section 4 . There shall be executed and delivered to said
bank Certificates Nos . 25 through 49, both inclusive, aggre-
gating $25, 000, of the CITY OF PEARLAND, TEXAS, CERTIFICATES
OF OBLIGATION, SERIES 1976-A, dated July 1, 1976, and the sum
of $464 . 81 shall be paid to the Contractor by the City from
funds available for such purpose.
Section 5 . The Mayor, City Secretary, City Treasurer,
and other appropriate City officials, are hereby authorized and
directed to deliver said Certificates above mentioned and to do
any and all things necessary or convenient to carry out the
terms of this resolution.
PASSED AND APPROVED this 14th day of February, 1977 .
/s/ Carlton McComb
ATTEST:
Mayor
CITY OF PEARLAND, TEXAS
/s/ Dorothy L. Cook
City Secretary
CITY OF PEARLAND, TEXAS
(SEAL)
-3-
EXHIBIT "A"
Claim No . 1 Dated: February 14, 1977
of Pearland Lumber Co . , Inc . (the "Contractor" ) , against the
City of Pearland, Texas (the "City") , as per contract between
the City and the Contractor:
1. Total completed to date $25,464 . 81
2. Less previous payments $ -0-
3. Current payment due $25,464 . 81
4 . Amount to be paid Contractor by issuance
of Certificates of Obligation $25,000. 00
5. Amount to be paid to Contractor by City
from available City funds . . . . . . . . . . $ 464 . 81
The amount shown in line 3 above represents our claim
against the City of Pearland, Texas, for furnishing all mate-
rials and supplies, under and in conformity with the terms and
conditions of the contract described above; and $25,000. 00 of
such claim has been and is hereby assigned in full, without
discount , to Pearland State Bank, Pearland, Texas . This instrument
is signed without recourse to Pearland Lumber Company, Inc.
CONTRACTOR
By
oWf----
(Authori d epresentative)
j (SEADO Larry Loe s s in
I i President
(Title)
AA
All materials and supplies represented by the claim shown
in line 3 above are in full accordance with the terms and con-
ditions of the contract described above, and such claim is
hereby in all things approved for payment by the City. .
MALCOLM A . COLLINS, ENGINEER
By
DELIVERY CERTIFICATE
THE STATE OF TEXAS 0
COUNTIES OF BRAZORIA AND HARRIS G
We, the undersigned, officers of the City Council of the City of Pearland, Texas,
certify that on the 14+th day of February, 1977, we delivered to Pearland State Bank,
Pearland, Texas, the following:
CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976-A, dated
July 1, 1976, numbered consecutively from 25 through 49, both inclusive,
in the denomination of $1,000 each, aggregating $25,000, bearing interest
at the rate of 6.25% per annum, and maturing serially in their numerical
order on August 1 as follows:
$16,000 1987
9,000 1988
We further certify that, to our knowledge, there is no litigation in any court,
either pending or threatened, seeking to restrain or enjoin the issuance of said cer-
tificates, the levy of taxes for the payment thereof, or attacking the validity of
said certificates or the proceedings relating thereto, or the authority of the City
to issue the same or questioning or contesting the title of the present officers of
said City to their respective offices. We further certify that none of the proceed-
ings authorizing the issuance and delivery of said certificates have been repealed
or rescinded; and no referendum petition has been filed with respect thereto.
WITNESS our hands and the official seal of said City as of the date shown above.
C4MLoatAfJert - J . Q � `�
City Treaser Mayor a.
(CITY SEAL) 4 V . '
City Secretary
The foregoing signatures of the Mayor, City Secretary and City Treasurer of the
City of Pearland, Texas, are hereby certified to be genuine.
PEARLAND STATE BANK
Pearland, Texas
J ,it---Z
(Signature of Officer)
(BANK SEAL) C1-e,Z
(Title of Officer)
We hereby acknowledge receipt of the certificates described above, which certifi-
cates constitute full payment of our claim against said City in the amount of $25,000,
said claim having been assigned to us, without discount, by Pearland Lumber Co. , Inc.
PEARLAND STATE BANK
Pearland, T
By a/Ide‘e
gnat of Officer)
(BANK SEAL) ()ice �Sl��
(Title of Officer)
CERTIFICATE OF ASSESSED VALUATION
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
I, the undersigned, the duly appointed, qualified, and
acting Tax Assessor-Collector of the CITY OF PEARLAND of
Brazoria and Harris Counties , Texas, do hereby certify that
the following is a true and correct statement of the assessed
valuation of taxable property in said City, excluding that
portion of certain property which is exempt from taxation
because of ownership by disabled veterans and persons over
65 years of age, as shown by the duly approved tax rolls for
the year 1976, which are the last approved tax rolls for said
City on file in my office, to-wit :
$72,349, 174
WITNESS MY HAND AND THE OFFICIAL SEAL OF SAID CITY, this
/'47 day of February, 1977 .
41f/ ' - 4219,Yi 2 L
T/x Assessor-Collect
' ITY OF PEARLAND , TEXAS
(SEAL)
NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
NOTICE is hereby given of a meeting of the City Council
of the CITY OF PEARLAND, Brazoria and Harris Counties , Texas
(the "City" ) , to be held on the 28th day of March, 1977 , at
7 : 30 p .m. in the :
City Hall
Pearland, Texas
for the purpose .of considering and, if deemed advisable by
the City Council, adopting a resolution approving claims and
authorizing issuance of Certificates of Obligation of the
City and for the purpose of conducting, considering and acting
upon such other business as shall come before the meeting .
The need of the City for such financing creates an emer-
gency and an urgent public necessity for the holding of the
meeting and for the adoption of such resolution at the meeting.
WITNESS MY HAND AND OFFICIAL SEAL OF THE CITY, this o?f
day of March, 1977 .
/s/ Dorothy L. Cook
City Secretary
CITY OF PEARLAND, TEXAS
(SEAL)
CERTIFICATE OF POSTING OF
NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
I, the undersigned officer of the CITY OF PEARLAND ,
Brazoria and Harris Counties, Texas (the "City" ) , do hereby
execute this certificate for the benefit of all persons in-
terested in the posting of notice of a meeting of the City
Council of the City as required by the Open Meetings Act
(Article 6252-17, Vernon' s Texas Civil Statutes , as amended )
and the validity of all actions and proceedings taken at
such meeting and I do hereby certify as follows :
1. I am the duly chosen, qualified and acting officer
of the City for the office shown beneath my signature , and
in such capacity I am familiar with the matters contained in
this certificate .
2 . The attached and foregoing is a true and correct
copy of the Notice of Meeting which was posted by me at
/1�00 o ' clock f4-.m. on the day of `' --),,� , , 1977 ,
in a place readily accessible to the general public at all
times, to-wit : C � -,r/
in the City Hall of the City .
WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this
day of ) Li , 1977 .
ity Secreta
CITY OF PE LAND , TEXAS
(SEAL)
MEMIIIM - - - -
-s
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
The City Council of the City of Pearland, Texas , convened
in regular meeting, open to the public , on the 28th day of
March, 1977 , at the City Hall, and the roll was called of the
duly constituted officers and members of the City Council and
the City Secretary of the City, to-wit :
Carlton McComb Mayor
Tom Reid Councilman and
Mayor Pro Tem
Cecil W. Griffin Councilman
Harry Farley Councilman
Terry Gray Councilman
Benny J. Frank Councilman
Dorothy L. Cook City Secretary
and all of said persons were present , except the f llowing ab-
sentees : �
thus constituting a quorum. Wheupon, among other business ,
the following was transacted at said meeting : a written reso-
lution entitled :
RESOLUTION APPROVING CLAIM AND AUTHORIZING
THE ISSUANCE OF CERTIFICATES OF OBLIGATION
(the "Resolution" ) was duly introduced for the consideration
of the City Council and reviewed in full . It was then duly
moved and seconded that the Resolution be passed; and, after
due discussion, the motion, carrying with it the passage of
the Resolution, prevailed and carried by the following vote :
AYES : All members of the City Council shown
present above voted "Aye" .
NOES : None .
The Mayor thereupon announced that the Resolution had been duly
and lawfully adopted. The Resolution thus adopted follows :
r-m r-
www, omus
RESOLUTION APPROVING CLAIM AND AUTHORIZING
THE ISSUANCE OF CERTIFICATES OF OBLIGATION
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
WHEREAS, the City Council of the CITY OF PEARLAND, TEXAS
(the "City" ) , by resolution adopted June 14 , 1976, found that
it was necessary and desirable for the City to purchase materials
and supplies for improving the roads , bridges and streets of
the City, to-wit : (1 ) base material and fill; (2 ) hot-mix
asphalt surfacing material; and (3) bridge construction materials
and supplies, and that certificates of obligation be issued by
the City for all or any part of the cost of same; and
WHEREAS, the City Council gave due and proper notice to
bidders of the time and place when and where a contract , or con-
tracts , for the purchase of such materials and supplies would
be let and due and proper notice of its intention to issue
such certificates of obligation; and
WHEREAS, the City Council thereafter awarded a contract
to WARREN BROTHERS COMPANY, Houston, Texas (the "Contractor" )
in the amount of $60, 310 . 00, as the lowest and best bid for the
furnishing of hot-mix asphalt surfacing material and the Con-
tractor at the time of the receipt of such bid elected to
assign such certificates in payment for all or any part of the
cost of the contract in accordance with the arrangements made
by the City Council ; and
WHEREAS, the Contractor, as shown on a true copy of its
Claim No. 1, attached hereto as Exhibit "A" and made a part
hereof as if fully written herein, has submitted said claim for
furnishing such materials and supplies; and
mmm �I
WHEREAS, the City has received the full benefits of such
contract represented by said claim to the full extent thereof
and to the full extent of the certificates of obligation here-
inafter authorized to be delivered; and no person, corporation
or trust estate has given notice in writing or otherwise to the
City, or to any official thereof, of any liens for any materials ,
apparatus , fixtures , machinery or labor furnished to the Con-
tractor as provided by Chapter 17 , Acts of the Legislature of
Texas, 1925 (Article 5472-a, Vernon' s Texas Civil Statutes ) ,
or any other provision of law; and
WHEREAS, the City does not hold a claim of any kind or
character which might be properly charged or interposed as an
offset or counterclaim to the payment of the aforesaid claim;
and
WHEREAS, said claim has been assigned to Pearland State
Bank, Pearland; Texas , without discount , and said bank is now
the legal owner and holder thereof; and
WHEREAS, the City Council of the City wishes to approve
said claim and authorize the payment thereof by the issuance
and delivery of certain of said certificates of obligation,
all as shown on said Exhibit "A" and as hereinafter set out :
AMOUNT TO BE AMOUNT TO BE
CLAIMANT PAID NOW CARRIED FORWARD
Warren Brothers Company $17 , 000 . 00 $641 . 49
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PEARLAND, TEXAS THAT:
Section 1 . The matters and facts contained in the preamble
of this resolution are hereby found and declared to be true and
correct .
-2-
r- r- r"' �-�--
Section 2 . The claim described in the preamble of this
resolution and fully set forth in Exhibit "A" mentioned in said
preamble shall be , and the same is hereby, approved and allowed,
and the City hereby acknowledges receipt of the full benefits
represented by said claim to the full extent thereof and to the
full extent of the certificates of obligation herein authorized
to be delivered; and the City hereby recognizes and approves the
transfer and assignment of said claim and account to Pearland
State Bank, Pearland, Texas .
Section 3 . There is now due and owing to said bank the
sum of $17, 000 . 00 and to the Contractor the sum of $641 . 49 .
Section 4 . There shall be executed and delivered to said
bank Certificates Nos . 50 through 66, both inclusive , aggre-
gating $17, 000, of the CITY OF PEARLAND, TEXAS, CERTIFICATES
OF OBLIGATION, SERIES 1976-A, dated July 1, 1976 , and the sum
of $641. 49 shall be carried forward to the next delivery of
such Certificates to the Contractor .
Section 5 . The Mayor, City Secretary, City Treasurer,
and other appropriate City officials , are hereby authorized and
directed to deliver said Certificates above mentioned and to do
any and all things necessary or convenient to carry out the
terms of this resolution.
PASSED AND APPROVED this 28th day of March, 1977 .
/s/ Carlton McComb
ATTEST:
Mayor
CITY OF PEARLAND, TEXAS
/s/ Dorothy L. Cook
City Secretary
CITY OF PEARLAND, TEXAS
(SEAL)
-3-
DELIVERY CERTIFICATE
THE STATE OF TEXAS 0
COUNTIES OF BRAZORIA AND HARRIS 0
We, the undersigned, officers of the City Council of the City of Pearland, Texas,
certify that on the 2 9t h day of March, 1977, we delivered to Pearland State Bank,
Pearland, Texas, the following:
CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976-A, dated
July 1, 1976, numbered consecutively from 50 through 66, both inclusive,
in the denomination of $1,000 each, aggregating $17,000, bearing interest
at the rate of 6.25% per annum, and maturing serially in their numerical
order on August 1 as follows:
$17,000 1988
We further certify that, to our knowledge, there is no litigation in any court,
either pending or threatened, seeking to restrain or enjoin the issuance of said cer-
tificates, the levy of taxes for the payment thereof, or attacking the validity of
said certificates or the proceedings relating thereto, or the authority of the City
to issue the same or questioning or contesting the title of the present officers of
said City to their respective offices. We further certify that none of the proceed-
ings authorizing the issuance and delivery of said certificates have been repealed
or rescinded; and no referendum petition has been filed with respect thereto.
WITNESS our hands and the official seal of said City as of the date shown above.
/ . Af,e6
City Treasurer Mayor
(CITY SEAL)
City Secretary
The foregoing signatures of the Mayor, City Secretary and City Treasurer of the
City of Pearland, Texas, are hereby certified to be genuine.
PEARLAND STATE BANK
Pearland, �- as/‘ /�J
i /V
• (Signa. e of Officer)
(BANK SEAL) (/ / ,e /-6741-
(Title of Officer)
We hereby acknowledge receipt of the certificates described above, which certifi-
cates constitute full payment of our claim against said City in the amount of $17,000,
said claim having been assigned to us, without discount, by Warren Brothers Company.
PEARLAND STATE BANK
Pearland, Texas
By 4gr •
(Signature of Of is
(BANK SEAL) ( �( E C. I/i'C E Pe 6 S.
(Title of Officer)
/m= r` mmmo
CERTIFICATE FOR RESOLUTION APPROVING CLAIM AND
AUTHORIZING THE ISSUANCE OF CERTIFICATES OF OBLIGATION
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
We, the undersigned officers of the CITY OF PEARLAND,
TEXAS (the "City" ) , do hereby certify as follows :
1 . That we are the duly chosen, qualified and acting
officers of the City for the offices shown below our signatures
and that as such we are familiar with the facts herein certified.
2 . That there is attached to and follows this certificate
an excerpt of proceedings from the minutes of a meeting of the
City Council of the City (the "City Council") which is a true ,
full and complete excerpt of all proceedings from the minutes of
the City Council pertaining to the adoption of the resolution de-
scribed therein; and that the persons named in such excerpt as
the officers and members of the City Council or as officers of
the City are the duly chosen, qualified and acting officers and
members as indicated therein.
3 . That a true and complete copy of the resolution (the
"Resolution" ) , as adopted at the meeting described in such excerpt
from the minutes , is attached to and follows such excerpt .
4 . That the Resolution has been duly and lawfully adopted
by the City Council and that the Mayor of the City has approved,
and hereby approves , the Resolution; that the Mayor and the City
Secretary of the City have duly signed and attested the Resolution
and each, respectively, hereby declares that the signing of this
certificate shall also constitute the signing of the Resolution
for all purposes ; and that the Resolution, as signed, has been
duly recorded in the minutes of the City Council for such meeting .
5 . That each of the officers and members of the City
Council was duly and sufficiently notified officially and per-
sonally, in advance , of the date , hour, place and subject of
such meeting of the City Council, and that the Resolution would
be introduced and considered for passage at such meeting, and
each of such officers and members consented, in advance , to the
holding of such meeting to consider and act upon such subject .
6 . That written notice of the meeting of the City Council
described in the excerpt from the minutes was posted in the form
and manner required by law; and that such meeting was open to the
public as required by law at all times during which the Resolution
and the subject matter thereof were discussed, considered and
formally acted upon, all as required by the Open Meetings Act ,
Article 6252-17 , Vernon ' s Texas Civil Statutes , as amended.
SIGNED AND SEALED this 22nd day of August , 1977 .
Aig4;k., 7")//1
City S etary Mayor
(SEAL)
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
The City Council of the City of Pearland, Texas , convened
in regular meeting, open to the public , on the 22nd day of
August , 1977 , at the City Hall, and the roll was called of the
duly constituted officers and members of the City Council and
the City Secretary of the City , to-wit :
Carlton McComb Mayor
Tom Reid Councilman and
Mayor Pro Tem
Cecil W. Griffin Councilman
Harry Farley Councilman
Terry Gray Councilman
Benny J . Frank Councilman
Dorothy L . Cook City Secretary
and all of said persons were present , except the following ab-
sentees :
thus constituting a quorum. Whereupon, among other business ,
the following was transacted at said meeting: a written reso-
lution entitled:
RESOLUTION APPROVING CLAIM AND AUTHORIZING
THE ISSUANCE OF CERTIFICATES OF OBLIGATION
(the "Resolution" ) was duly introduced for the consideration
of the City Council and reviewed in full . It was then duly
moved and seconded that the Resolution be passed; and, after
due discussion, the motion, carrying with it the passage of
the Resolution, prevailed and carried by the following vote :
AYES : All members of the City Council shown
present above voted "Aye" .
NOES : None .
The Mayor thereupon announced that the Resolution had been duly
and lawfully adopted. The Resolution thus adopted follows :
RESOLUTION APPROVING CLAIM AND AUTHORIZING
THE ISSUANCE OF CERTIFICATES OF OBLIGATION
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
WHEREAS, the City Council of the CITY OF PEARLAND, TEXAS
(the "City" ) , by resolution adopted June l4 , 1976 , found that
it was necessary and desirable for the City to purchase materials
and supplies for improving the roads , bridges and streets of
the City, to-wit : (1) base material and fill; (2) hot-mix
asphalt surfacing material; and ( 3 ) bridge construction materials
and supplies , and that certificates of obligation be issued by
the City for all or any part of the cost of same ; and
WHEREAS, the City Council gave due and proper notice to
bidders of the time and place when and where a contract , or con-
tracts , for the purchase of such materials and supplies would
be let and due and proper notice of its intention to issue
such certificates of obligation; and
WHEREAS, the City Council thereafter awarded a contract
to CHENNAULT MATERIALS, INC . , Houston, Texas (the "Contractor" )
in the amount of $74, 450 . 00, as the lowest and best bid for the
furnishing of the base material and fill and the Contractor at
the time of the receipt of such bid elected to assign such cer-
tificates in payment for all or any part of the cost of the
contract in accordance with the arrangements made by the City
Council; and
WHEREAS, the Contractor, as shown on a true copy of its
Claim No . 2 , attached hereto as Exhibit "A" and made a part
hereof as if fully written herein, has submitted said claim for
furnishing such materials and supplies ; and
Section 2 . The claim described in the preamble of this
resolution and fully set forth in Exhibit "A" mentioned in said
preamble shall be , and the same is hereby , approved and allowed,
and the City hereby acknowledges receipt of the full benefits
represented by said claim to the full extent thereof and to the
full extent of the certificates of obligation herein authorized
to be delivered; and the City hereby recognizes and approves the
transfer and assignment of said claim and account to Pearland
State Bank, Pearland, Texas .
Section 3 . There is now due and owing to said bank the
sum of $3 ,000 . 00 and to the Contractor the sum of $121 . 20 .
Section 4 . There shall be executed and delivered to said
bank Certificates Nos . 67 through 69 , both inclusive , aggre-
gating $3 ,000, of the CITY OF PEARLAND, TEXAS, CERTIFICATES
OF OBLIGATION, SERIES 1976-A, dated July 1, 1976 , and the sum
of $121. 20 shall be carried forward to the next delivery of
such Certificates to the Contractor.
Section 5 . The Mayor, City Secretary , City Treasurer,
and other appropriate City officials , are hereby authorized and
directed to deliver said Certificates above mentioned and to do
any and all things necessary or convenient to carry out the
terms of this resolution.
PASSED AND APPROVED this 22nd day of August , 1977 .
/s/ Carlton McComb
ATTEST :
Mayor
CITY OF PEARLAND, TEXAS
/s/ Dorothy L. Cook
City Secretary
CITY OF PEARLAND, TEXAS
(SEAL)
-3-
EXHIBIT "A"
Claim No. 2 Dated: August 22 , 1977
of Chennault Materials , Inc . (the "Contractor" ) , against the
City of Pearland, Texas (the "City" ) , as per contract in the
amount of $74 ,450 . 00 , between the City and the Contractor:
1. Total completed to date $30 ,015 . 00
2 . Less previous payments $24 ,000 .00
3. Current payment due $ 3 ,121 . 20
4 . Amount to be paid Contractor by issuance
of Certificates of Obligation $ 3 ,000 .00
5. Carry-over to next claim $ 121 . 20
The amount shown in line 3 above represents our claim
against the City of Pearland, Texas , for furnishing materials
and supplies under and in conformity with the terms and condi-
tions of the contract described above ; and $3 ,000 . 00 of such
claim has been and is hereby assigned in full, without discount ,
to Pearland State Bank, Pearland, Texas .
CHENNAULT MATERIALS , INC .
By
(Authorized Representative)
(SEAL)
(Title)
All materials and supplies represented by the claim shown
in line 3 above are in full accordance with the terms and con-
ditions of the contract described above , and such claim is
hereby in all things approved for payment by the City .
MALCOLM A. COLLINS, ENGINEER
By
NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
NOTICE is hereby given of a meeting of the City Council
of the CITY OF PEARLAND, Brazoria and Harris Counties , Texas
(the "City" ) , to be held on the 8th day of May, 1978 , at
7 : 30 p .m. in the :
City Hall
Pearland, Texas
for the purpose of adopting a resolution approving claim and
authorizing the issuance of Certificates of Obligation, Series
1976-A, and for the purpose of conducting, considering and
acting upon such other business as shall come before the meeting.
The need of the City for such financing creates an emer-
gency and an urgent public necessity for the holding of the
meeting and for the adoption of such resolution at the meeting.
WITNESS MY HAND AND OFFICIAL SEAL OF THE CITY, this j/
day of May , 1978 .
/s/ Dorothy L . Cook
City Secretary
CITY OF PEARLAND , TEXAS
(SEAL)
r I I r - �� �� �1 �,
CERTIFICATE FOR RESOLUTION APPROVING CLAIM AND
AUTHORIZING THE ISSUANCE OF CERTIFICATES OF OBLIGATION
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
We, the undersigned officers of the CITY OF PEARLAND,
TEXAS (the "City") , do hereby certify as follows :
1 . That we are the duly chosen, qualified and acting
officers of the City for the offices shown below our signatures
and that as such we are familiar with the facts herein certified .
2 . That there is attached to and follows this certificate
an excerpt of proceedings from the minutes of a meeting of the
City Council of the City (the "City Council" ) which is a true ,
full and complete excerpt of all proceedings from the minutes of
the City Council pertaining to the adoption of the resolution de-
scribed therein; and that the persons named in such excerpt as
the officers and members of the City Council or as officers of
the City are the duly chosen, qualified and acting officers and
members as indicated therein.
3 . That a true and complete copy of the resolution (the
"Resolution") , as adopted at the meeting described in such excerpt
from the minutes , is attached to and follows such excerpt .
4 . That the Resolution has been duly and lawfully adopted
by the City Council and that the Mayor of the City has approved,
and hereby approves , the Resolution; that the Mayor and the City
Secretary of the City have duly signed and attested the Resolution
and each, respectively, hereby declares that the signing of this
certificate shall also constitute the signing of the Resolution
for all purposes ; and that the Resolution, as signed, has been
duly recorded in the minutes of the City Council for such meeting .
5 . That each of the officers and members of the City
Council was duly and sufficiently notified officially and per-
sonally, in advance , of the date, hour, place and subject of
such meeting of the City Council, and that the Resolution would
be introduced and considered for passage at such meeting, and
each of such officers and members consented, in advance , to the
holding of such meeting to consider and act upon such subject .
6 . That written notice of the meeting of the City Council
described in the excerpt from the minutes was posted in the form
and manner required by law; and that such meeting was open to the
public as required by law at all times during which the Resolution
and the subject matter thereof were discussed , considered and
formally acted upon, all as required by the Open Meetings Act ,
Article 6252-17 , Vernon ' s Texas Civil Statutes , as amended .
SIGNED AND SEALED this 8th day of May , 1978
(17-7-4QCity ecretary Mayor
(SEAL)
pomm r
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
The City Council of the City of Pearland, Texas , convened
in regular meeting, open to the public , on the 8th day of May ,
1978 , at the City Hall , and the roll was called of the duly
constituted officers and members of the City Council and the
City Secretary of the City , to-wit :
Tom Reid Mayor
Dennis Frauenberger Councilman
Harry Farley Councilman
Fran Coppinger Councilman
Morris S . Wilson Councilman
Carlton McComb Councilman
Dorothy L. Cook City Secretary
and all of said persons were present , except the following ab-
sentees : Councilfan Frauenberger Cou ncilnan Farley
thus constituting a quorum. Whereupon, among other business ,
the following was transacted at said meeting: a written reso-
lution entitled :
RESOLUTION APPROVING CLAIM AND AUTHORIZING
THE ISSUANCE OF CERTIFICATES OF OBLIGATION
(the "Resolution") was duly introduced for the consideration
of the City Council and reviewed in full . It was then duly
moved and seconded that the Resolution be passed; and, after
due discussion, the motion, carrying with it the passage of
the Resolution, prevailed and carried by the following vote :
AYES : All members of the City Council shown
present above voted "Aye" .
NOES : None .
The Mayor thereupon announced that the Resolution had been duly
and lawfully adopted. The Resolution thus adopted follows :
plimm -1
RESOLUTION APPROVING CLAIM AND AUTHORIZING
THE ISSUANCE OF CERTIFICATES OF OBLIGATION
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
WHEREAS, the City Council of the CITY OF PEARLAND, TEXAS
(the "City" ) , by resolution adopted June 14 , 1976 , found that
it was necessary and desirable for the City to purchase materials
and supplies for improving the roads , bridges and streets of
the City , to-wit : (1) base material and fill; ( 2) hot-mix
asphalt surfacing material; and ( 3) bridge construction materials
and supplies , and that certificates of obligation be issued by
the City for all or any part of the cost of same ; and
WHEREAS, the City Council gave due and proper notice to
bidders of the time and place when and where a contract , or con-
tracts , for the purchase of such materials and supplies would
be let and due and proper notice of its intention to issue
such certificates of obligation; and
WHEREAS, the City Council thereafter awarded a contract
to CHENNAULT MATERIALS, INC . , Houston, Texas (the "Contractor")
in the amount of $74 , 450 . 00 , as the lowest and best bid for the
furnishing of the base material and fill and the Contractor at
the time of the receipt of such bid elected to assign such cer-
tificates in payment for all or any part of the cost of the
contract in accordance with the arrangements made by the City
Council; and
WHEREAS , the Contractor, as shown on a true copy of its
Claim No . 3 , attached hereto as Exhibit "A" and made a part
hereof as if fully written herein, has submitted said claim for
furnishing such materials and supplies ; and
WHEREAS, the City has received the full benefits of such
contract represented by said claim to the full extent thereof
and to the full extent of the certificates of obligation here-
inafter authorized to be delivered ; and no person, corporation
or trust estate has given notice in writing or otherwise to the
City, or to any official thereof, of any liens for any materials ,
apparatus , fixtures , machinery or labor furnished to the Con-
tractor as provided by Chapter 17 , Acts of the Legislature of
Texas, 1925 (Article 5472-a, Vernon' s Texas Civil Statutes) ,
or any other provision of law; and
WHEREAS, the City does not hold a claim of any kind or
character which might be properly charged or interposed as an
offset or counterclaim to the payment of the aforesaid claim;
and
WHEREAS , said claim has been assigned to Pearland State
Bank, Pearland, Texas , without discount , and said bank is now
the legal owner and holder thereof; and
WHEREAS, the City Council of the City wishes to approve
said claim and authorize the payment thereof by the issuance
and delivery of certain of said certificates of obligation,
all as shown on said Exhibit "A" and as hereinafter set out :
AMOUNT TO BE AMOUNT TO BE
CLAIMANT PAID NOW CARRIED FORWARD
Chennault Materials , Inc . $7 ,000 . 00 $883 . 70
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PEARLAND, TEXAS THAT:
Section 1 . The matters and facts contained in the preamble
of this resolution are hereby found and declared to be true and
correct .
-2-
r rom 41m
Section 2 . The claim described in the preamble of this
resolution and fully set forth in Exhibit "A" mentioned in said
preamble shall be , and the same is hereby , approved and allowed ,
and the City hereby acknowledges receipt of the full benefits
represented by said claim to the full extent thereof and to the
full extent of the certificates of obligation herein authorized
to be delivered; and the City hereby recognizes and approves the
transfer and assignment of said claim and account to Pearland
State Bank, Pearland, Texas .
Section 3 . There is now due and owing to said bank the
sum of $7 ,000 . 00 and to the Contractor the sum of $883 . 70 .
Section 4 . There shall be executed and delivered to said
bank Certificates Nos . 70 through 76 , both inclusive , aggre-
gating $7 ,000, of the CITY OF PEARLAND , TEXAS , CERTIFICATES
OF OBLIGATION, SERIES 1976-A, dated July 1, 1976 , and the sum
of $883 . 70 shall be carried forward to the next delivery of
such Certificates to the Contractor.
Section 5 . The Mayor, City Secretary, City Treasurer,
and other appropriate City officials , are hereby authorized and
directed to deliver said Certificates above mentioned and to do
any and all things necessary or convenient to carry out the
terms of this resolution.
PASSED AND APPROVED this 8th day of May , 1978 .
/s/ Tom Reid
ATTEST:
Mayor
CITY OF PEARLAND , TEXAS
/s/ Dorothy L. Cook
City Secretary
CITY OF PEARLAND , TEXAS
(SEAL)
-3-
EXHIBIT "A"
Claim No . 3 Dated: May 8, 1978
of Chennault Materials , Inc . (the "Contractor") , against the
City of Pearland, Texas (the "City") , as per contract in the
amount of $74 , 450 . 00, between the City and the Contractor :
1 . Total completed to date $34 ,883 . 70.
2. Less previous payments $27 ,000 . 00
3 . Current payment due $ 7 ,883 . 70
4 . Amount to be paid Contractor by issuance
of Certificates of Obligation $ 7 ,000 . 00
5 . Carry-over to next claim $ 883 . 70
The amount shown in line 3 above represents our claim
against the City of Pearland, Texas , for furnishing materials
and supplies under and in conformity with the terms and condi-
tions of the contract described above; and $7 , 000 . 00 of such
claim has been and is hereby assigned in full, without discount ,
to Pearland State Bank, Pearland, Texas .
CHENNAULT MATERIALS, INC .
By
(Authorized Representative)
(SEAL)
(Title )
All materials and supplies represented by the claim shown
in line 3 above are in full accordance with the terms and con-
ditions of the contract described above , and such claim is
hereby in all things approved for payment by the City .
MALCOLM A. COLLINS, ENGINEER
By
DELIVERY CERTIFICATE
THE STATE OF TEXAS 0
COUNTIES OF BRAZORIA AND HARRIS b
We, the undersigned, officers of the City Council of the City of Pearland, Texas ,
certify that on the 10 day of May, 1978, we delivered to Pearland State Bank,
Pearland, Texas, the following:
CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1976-A, dated
July 1, 1976, numbered consecutively from 70 through 76, both inclusive,
in the denomination of $1,000 each, aggregating $7,000, bearing interest
at the rate of 6.25% per annum, and maturing serially in their numerical
order on August 1 as follows:
$6,000 1988
1,000 1989
We further certify that, to our knowledge, there is no litigation in any court,
either pending or threatened, seeking to restrain or enjoin the issuance of said cer-
tificates, the levy of taxes for the payment thereof, or attacking the validity of
said certificates or the proceedings relating thereto, or the authority of the City
to issue the same or questioning or contesting the title of the present officers of
said City to their respective offices. We further certify that none of the proceed-
ings authorizing the issuance and delivery of said certificates have been repealed
or rescinded; and no referendum petition has been filed with respect thereto.
WITNESS our hands and the official seal of saidCity as of the ate shown above.
e0C/ Li tC �O�YC
City Treasurer Mayor
_2j(CITY SEAL)
Ci y Secretary
The foregoing signatures of the Mayor, City Secretary and City Treasurer of the
City of Pearland, Texas, are hereby certified to be genuine.
PEARLAND STATE BANK
Pearland, -xas
1/7 ,01‘dere
(Siv•'ture of Officer)
(BANK SEAL) 1/ILe- Pr'e5/d iriZ t CASA per
(Title of Officer)
We hereby acknowledge receipt of the certificates described above, which certifi-
cates constitute full payment of our claim against said City in the amount of $7,000,
said claim having been assigned to us, without discount, by Chennault Materials, Inc .
PEARLAND STATE BANK
Pearland, Texas
By
(Sig ture of V �S
Off�iicer)�c
(BANK SEAL) Ice �/^ -/ / er L excdee r
(Title of Officer)
NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
NOTICE is hereby given of a meeting of the City Council
of the CITY OF PEARLAND, Brazoria and Harris Counties , Texas
(the "City" ) , to be held on the 24th day of July, 1978 , at
7 : 30 p .m. in the :
City Hall
Pearland , Texas
for the purpose of adopting a resolution approving claim and
authorizing the issuance of Certificates of Obligation , Series
1976-A, and for the purpose of conducting, considering and
acting upon such other business as shall come before the meeting .
The need of the City for such financing creates an emer-
gency and an urgent public necessity for the holding of the
meeting and for the adoption of such resolution at the meeting.
WITNESS MY HAND AND OFFICIAL SEAL OF THE CITY, this '2/
day of July, 1978 .
/s/ Dorothy L. Cook
City Secretary
CITY OF PEARLAND, TEXAS
(SEAL)
CERTIFICATE OF POSTING OF
NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
I, the undersigned officer of the CITY OF PEARLAND ,
Brazoria and Harris Counties , Texas (the "City" ) , do hereby
execute this certificate for the benefit of all persons in-
terested in the posting of notice of a meeting of the City
Council of the City as required by the Open Meetings Act
(Article 6252-17 , Vernon' s Texas Civil Statutes , as amended)
and the validity of all actions and proceedings taken at such
meeting and I do hereby certify as follows :
1 . I am the duly chosen, qualified and acting officer
of the City for the office shown beneath my signature , and
in such capacity I am familiar with the matters contained in
this certificate .
2 . The attached and foregoing is a true and correct
copy of the Notice of Meeting which was p ed by me at
3%30 o 'clock-72 .m. on the ./ day of , 1978 ,
in a place readily accessible to he gen al blic at all
times, to-wit : - .>
, in the City Hall of the City .
WITNESS M HAND AND THE OFFICIAL SEAL OF THE CITY , this
/ day of , 1978 .
C: sCity6tar
CITY OF PEAR AND, TEXAS
(SEAL)
CERTIFICATE FOR RESOLUTION APPROVING CLAIM AND
AUTHORIZING THE ISSUANCE OF CERTIFICATES OF OBLIGATION
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
We , the undersigned officers of the CITY OF PEARLAND,
TEXAS (the "City" ) , do hereby certify as follows :
1 . That we are the duly chosen, qualified and acting
officers of the City for the offices shown below our signatures
and that as such we are familiar with the facts herein certified .
2 . That there is attached to and follows this certificate
an excerpt of proceedings from the minutes of a meeting of the
City Council of the City (the "City Council" ) which is a true ,
full and complete excerpt of all proceedings from the minutes of
the City Council pertaining to the adoption of the resolution de-
scribed therein; and that the persons named in such excerpt as
the officers and members of the City Council or as officers of
the City are the duly chosen, qualified and acting officers and
members as indicated therein .
3 . That a true and complete copy of the resolution (the
"Resolution") , as adopted at the meeting described in such excerpt
from the minutes, is attached to and follows such excerpt .
4 . That the Resolution has been duly and lawfully adopted
by the City Council and that the Mayor of the City has approved,
and hereby approves , the Resolution; that the Mayor and the City
Secretary of the City have duly signed and attested the Resolution
and each, respectively, hereby declares that the signing of this
certificate shall also constitute the signing of the Resolution
for all purposes ; and that the Resolution, as signed, has been
duly recorded in the minutes of the City Council for such meeting.
5 . That each of the officers and members of the City
Council was duly and sufficiently notified officially and per-
sonally, in advance , of the date , hour, place and subject of
such meeting of the City Council, and that the Resolution would
be introduced and considered for passage at such meeting, and
each of such officers and members consented, in advance , to the
holding of such meeting to consider and act upon such subject .
6 . That written notice of the meeting of the City Council
described in the excerpt from the minutes was posted in the form
and manner required by and that such meeting was open to the
public as required by law at all times during which the Resolution
and the subject matter thereof were discussed, considered and
formally acted upon, all as required by the Open Meetings Act ,
Article 6252-17, Vernon' s Texas Civil Statutes , as amended.
SIGNED AND SEALED this 24th day of July , 1978 .
L_V-- d(44--74-11 2'"°7( <7---- /),7-1-/ 'S ")=1:1
City retary"4 _
Mayor
(SEAL)
r- r. anini ....ERI
and to the full extent of the certificates of obligation here-
inafter authorized to be delivered; and no person , corporation
or trust estate has given notice in writing or otherwise to the
City, or to any official thereof, of any liens for any materials ,
apparatus , fixtures , machinery or labor furnished to the Con-
tractor as provided by Chapter 17, Acts of the Legislature of
Texas, 1925 (Article 5472-a, Vernon' s Texas Civil Statutes ) ,
or any other provision of law; and
WHEREAS, the City does not hold a claim of any kind or
character which might be properly charged or interposed as an
offset or counterclaim to the payment of the aforesaid claim;
and
WHEREAS, said claim has been assigned to Pearland State
Bank, Pearland, Texas , without discount , and said bank is now
the legal owner and holder thereof; and
WHEREAS, the City Council of the City wishes to approve
said claim and authorize the payment thereof by the issuance
and delivery of certain of said certificates of obligation,
all as shown on said Exhibit "A" and as hereinafter set out :
AMOUNT TO BE AMOUNT TO BE
CLAIMANT PAID NOW CARRIED FORWARD
Chennault Materials , Inc . $9 ,000 . 00 $630 . 20
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PEARLAND, TEXAS THAT:
Section 1 . The matters and facts contained in the preamble
of this resolution are hereby found and declared to be true and
correct .
Section 2 . The claim described in the preamble of this
resolution and fully set forth in Exhibit "A" mentioned in said
preamble shall be, and the same is hereby , approved and allowed ,
and the City hereby acknowledges receipt of the full benefits
represented by said claim to the full extent thereof and to the
-2-
rmm rm r.
full extent of the certificates of obligation herein authorized
to be delivered; and the City hereby recognizes and approves the
transfer and assignment of said claim and account to Pearland
State Bank, Pearland, Texas .
Section 3 . There is now due and owing to said bank the
sum of $9 ,000 .00 and to the Contractor the sum of $630 . 20 .
Section 4 . There shall be executed and delivered to said
bank Certificates Nos . 77 through 85 , both inclusive , aggre-
gating $9,000 , of the CITY OF PEARLAND, TEXAS, CERTIFICATES
OF OBLIGATION, SERIES 1976-A, dated July 1, 1976, and the sum
of $630 . 20 shall be carried forward to the next delivery of
such Certificates to the Contractor.
Section 5 . The Mayor, City Secretary, City Treasurer,
and other appropriate City officials , are hereby authorized and
directed to deliver said Certificates above mentioned and to do
any and all things necessary or convenient to carry out the
terms of this resolution.
PASSED AND APPROVED this 24th day of July , 1978 .
/s/ Tom Reid
ATTEST:
Mayor
CITY OF PEARLAND, TEXAS
/s/ Dorothy L. Cook
City Secretary
CITY OF PEARLAND, TEXAS
(SEAL)
-3-
EXHIBIT "A"
Claim No . 4 Dated : July 24 , 1978
of Chennault Materials , Inc . (the "Contractor" ) , against the
City of Pearland, Texas (the "City") , as per contract in the
amount of $74 , 450 . 00, between the City and the Contractor :
1 . Total completed to date $43 ,630 . 20
2 . Less previous payments $34 ,000 . 00
3. Current payment due $ 9,630 . 20
4 . Amount to be paid Contractor by issuance
of Certificates of Obligation S 9 ,000 . 00
5 . Carry-over to next claim $ 630 . 20
The amount shown in line 3 above represents our claim
against the City of Pearland, Texas , for furnishing materials
and supplies under and in conformity with the terms and condi-
tions of the contract described above ; and $9,000 . 00 of such
claim has been and is hereby assigned in full, without discount ,
to Pearland State Bank, Pearland, Texas .
CHENNAULT MATERIALS , INC .
By
(Authorized Representative )
(SEAL)
(Title )
All materials and supplies represented by the claim shown
in line 3 above are in full accordance with the terms and con-
ditions of the contract described above , and such claim is
hereby in all things approved for payment by the City .
MALCOLM A. COLLINS , ENGINEER
By
w- r--
DELIVERY CERTIFICATE
THE STATE OF TEXAS
COUNTIES OF BRAZORIA AND HARRIS
We, the undersigned, officers of the City Council of the City of
Pearland, Texas , certify that on the 26th day of July , 1978 , we deliv-
ered to Pearland State Bank, Pearland, Texas , the following :
CITY OF PEARLAND , TEXAS, CERTIFICATES OF OBLIGATION, SERIES
1976-A, dated July 1, 1976 , numbered consecutively from 77
through 85 , both inclusive , in the denomination of $1 ,000
each, aggregating $9, 000 , bearing interest at the rate of
6 . 25% per annum, and maturing serially in their numerical
order on August 1 as follows :
$9, 000 1989
We further certify that , to our knowledge , there is no litigation
in any court , either pending or threatened, seeking to restrain or
enjoin the issuance of said certificates , the levy of taxes for the
payment thereof, or attacking the validity of said certificates or the
proceedings relating thereto, or the authority of the City to issue
the same or questioning or contesting the title of the present officers
of said City to their respective offices . We further certify that none
of the proceedings authorizing the issuance and delivery of said cer-
t.ificates have been repealed or rescinded; and no referendum petition
has been filed with respect thereto .
WITNESS our hands and the official seal of said City as of the
date shown above .
City Treas rer Mayor__4
(CITY SEAL)
Ci Secretary
The foregoing signatures of the Mayor, City Secretary and City
Treasurer of the City of Pearland, Texas , are hereby certified to be
genuine .
PEARLAND STATE BANK
Pearland , Texas
4
(Signature
of icer)
(BANK SEAL) v '
itle of Officer)
We hereby acknowledge receipt of the certificates described above ,
wrich certificates constitute full payment of our claim against said
City in the amount of $9 ,000 , said claim having been assigned to us ,
without discount , by Chennault Materials , Inc .
PEARLAND STATE BANK
Pearland, Texas
By
(Signature of 0 r)
(BANK SEAL) '
( it e of Officer)
NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
NOTICE is hereby given of a meeting of the City Council
of the CITY OF PEARLAND, Brazoria and Harris Counties , Texas
(the "City") , to be held on the 25th day of September, 1978 ,
at 7 : 30 p.m. in the :
City Hall
Pearland, Texas
for the purpose of adopting a resolution approving claim and
authorizing the issuance of Certificates of Obligation, Series
1976-A, and for the purpose of conducting, considering and
acting upon such other business as shall come before the meeting.
The need of the City for such financing creates an emer-
gency and an urgent public necessity for the holding of the
meeting and for the adoption of such resolution at the meeting.
WITNESS MY HAND AND OFFICIAL SEAL OF THE CITY, this c 2
day of September, 1978 .
/s/ Dorothy L. Cook
City Secretary
CITY OF PEARLAND, TEXAS
(SEAL)
•
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
The City Council of the City of Pearland, Texas , convened
in regular meeting, open to the public, on the 25th day of
September, 1978 , 'at the City Hall, and the roll was called of
the duly constituted officers and members of the City Council
and the City Secretary of the City, to-wit :
Tom Reid Mayor
Dennis Frauenberger Councilman
Harry Farley Councilman
Fran Coppinger Councilman
Morris S. Wilson Councilman
Carlton McComb Councilman
Dorothy L. Cook City Secretary
and all of said persons were resent, except the followin ab-
sentees : G e
thus constitu ing a quorum. Whereupon, among other business ,
the following was transacted at said meeting : a written reso-
lution entitled:
RESOLUTION APPROVING CLAIM AND AUTHORIZING
THE ISSUANCE OF CERTIFICATES OF OBLIGATION
(the "Resolution") was duly introduced for the consideration
of the City Council and reviewed in full. It was then duly
moved and seconded that the Resolution be passed; and, after
due discussion, the motion, carrying with it the passage of
the Resolution, prevailed and carried by the following vote :
AYES: All members of the City Council shown
present above voted "Aye" .
NOES: None.
The Mayor thereupon announced that the Resolution had been duly
and lawfully adopted. The Resolution thus adopted follows :
RESOLUTION APPROVING CLAIM AND AUTHORIZING
THE ISSUANCE OF CERTIFICATES OF OBLIGATION
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
WHEREAS, the City Council of the CITY OF PEARLAND, TEXAS
(the "City" ) , by resolution adopted June 14 , 1976 , found that
it was necessary and desirable for the City to purchase materials
and supplies for improving the roads , bridges and streets of
the City, to-wit: (1) base material and fill; (2) hot-mix
asphalt surfacing material; and (3) bridge construction materials
and supplies , and that certificates of obligation be issued by
the City for all or any part of the cost of same; and
WHEREAS, the City Council gave due and proper notice to
bidders of the time and place when and where a contract, or con-
tracts, for the purchase of such materials and supplies would
be let and due and proper notice of its intention to issue
such certificates of obligation; and
WHEREAS, the City Council thereafter awarded a contract
to CHENNAULT MATERIALS , INC. , Houston, Texas (the "Contractor")
in the amount of $74 , 450 . 00 , as the lowest and best bid for the
furnishing of the base material and fill and the Contractor at
the time of the receipt of such bid elected to assign such cer-
tificates in payment for all or any part of the cost of the
contract in accordance with the arrangements made by the City
Council; and
WHEREAS, the Contractor, as shown on a true copy of its
Claim No. 6 , attached hereto as Exhibit "A" and made a part
hereof as if fully written herein, has submitted said claim for
furnishing such materials and supplies; and
WHEREAS, the City has received the full benefits of such
contract represented by said claim to the full extent thereof
mime wm..
full extent of the certificates of obligation herein authorized
to be delivered; and the City hereby recognizes and approves the
transfer and assignment of said claim and account to Pearland
State Bank, Pearland, Texas .
Section 3 . There is now due and owing to said bank the
sum of $4 , 000. 00 and to the Contractor the sum of $956 . 20 .
Section 4 . There shall be executed and delivered to said
bank Certificates Nos . 100 through 103, both inclusive, aggre-
gating $4, 000, of the CITY OF PEARLAND, TEXAS , CERTIFICATES
OF OBLIGATION, SERIES 1976-A, dated July 1, 1976 , and the sum
of $956 . 20 shall be carried forward to the next delivery of
such Certificates to the Contractor.
Section 5. The Mayor, City Secretary, City Treasurer,
and other appropriate City officials , are hereby authorized and
directed to deliver said Certificates above mentioned and to do
any and all things necessary or convenient to carry out the
terms of this resolution.
PASSED AND APPROVED this 25th day of September, 1978 .
/s/ Tom Reid
ATTEST:
Mayor
CITY OF PEARLAND, TEXAS
/s/ Dorothy L. Cook
City Secretary
CITY OF PEARLAND, TEXAS
(SEAL)
-3-
EXHIBIT "A"
Claim No. 6 Dated: September 25, 1978
of Chennault Materials , Inc. (the "Contractor" ) , against the
City of Pearland, Texas (the "City") , as per contract in the
amount of $74 , 450. 00, between the City and the Contractor:
1. Total completed to date $61 , 956 . 20
2 . Less previous payments $57 , 000 . 00
3. Current payment due $ 4 , 956 . 20
4 . Amount to be paid Contractor by issuance
of Certificates of Obligation $ 4 , 000 . 00
5. Carry-over to next claim $ 956 . 20
The amount shown in line 3 above represents our claim
against the City of Pearland, Texas, for furnishing materials
and supplies under and in conformity with the terms and condi-
tions of the contract described above; and $4 , 000 . 00 of such
claim has been and is hereby assigned in full, without discount,
to Pearland State Bank, Pearland, Texas .
CHENNAULT MATERIALS , INC .
By
(Authorized Representative)
(SEAL)
(Title)
All materials and supplies represented by the claim shown
in line 3 above are in full accordance with the terms and con-
ditions of the contract described above , and such claim is
hereby in all things approved for payment by the City.
MALCOLM A. COLLINS , ENGINEER
By
imum
DELIVERY CERTIFICATE
THE STATE OF TEXAS X
COUNTIES OF BRAZORIA AND HARRIS X
We, the undersigned, officers of the City Council of the City of
Pearland, Texas , certify that on the A 7d day of September, 1978 , we
delivered to Pearland State Bank, Pearland, Texas , the following:
CITY OF PEARLAND, TEXAS , CERTIFICATES OF OBLIGATION, SERIES
1976-A, dated July 1, 1976 , numbered consecutively from 100
through 103 , both inclusive, in the denomination of $1, 000
each, aggregating $4 , 000, bearing interest at the rate of
6 . 25% per annum, and maturing serially in their numerical
order on August 1 as follows :
$4 , 000 1989
We further certify that, to our knowledge, there is no litigation
in any court, either pending or threatened, seeking to restrain or
enjoin the issuance of said certificates, the levy of taxes for the
payment thereof, or attacking the validity of said certificates or the
proceedings relating thereto, or the authority of the City to issue
the same or questioning or contesting the title of the present officers
of said City to their respective offices . We further certify that none
of the proceedings authorizing the issuance and delivery of said cer-
tificates have been repealed or rescinded; and no referendum petition
has been filed with respect thereto.
WITNESS our hands and the official seal of said City as of the
date shown above.
!471
City Trealsurer Mayor
(CITY SEAL)
City Secretary
The foregoing signatures of the Mayor, City Secretary and City
Treasurer of the City of Pearland, Texas , are hereby certified to be
genuine.
PEARLAND STATE BANK
Pear , Texas
gnature of 0 ficer)
(BANK SEAL) Cashier
(Title of Officer)
We hereby acknowledge receipt of the certificates described above,
which certificates constitute full payment of our claim against said
City in the amount of $4 , 000, said claim having been assigned to us ,
without discount, by Chennault Materials, Inc.
PEARLAND STATE BANK
Pearla d, Texas
By
ignature of Officer)
(BANK SEAL) Cashier
(Title of Officer)
pomm rm= mmm — —., ..mmil
NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
NOTICE is hereby given of a meeting of the City Council
of the CITY OF PEARLAND, Brazoria and Harris Counties , Texas
(the "City") , to be held on the 23rd day of October, 1978 , at
7 : 30 p.m. in the :
City Hall
Pearland, Texas
for the purpose of adopting a resolution approving claim and
authorizing issuance of Certificates of Obligation, Series 1976A,
and for the purpose of conducting , considering and acting upon
such other business as shall come before the meeting.
The need of the City for such financing creates an emer-
gency and an urgent public necessity for the holding of the
meeting and for the adoption of such resolution at the meeting .
WITNESS MY HAND AND OFFICIAL SEAL OF THE CITY, this /y
day of October, 1978 .
/s/ Dorothy L. Cook
City Secretary
CITY OF PEARLAND, TEXAS
(SEAL)
CERTIFICATE OF POSTING OF
NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
I , the undersigned officer of the CITY OF PEARLAND ,
Brazoria and Harris Counties , Texas (the "City") , do hereby
execute this certificate for the benefit of all persons in-
terested in the posting of notice of a meeting of the City
Council of the City as required by the Open Meetings Act
(Article 6252-17, Vernon ' s Texas Civil Statutes , as amended)
and the validity of all actions and proceedings taken at such
meeting and I do hereby certify as follows :
1 . I am the duly chosen, qualified and acting officer
of the City for the office shown beneath my signature , and
in such capacity I am familiar with the matters contained in
this certificate.
2 . The attached and foregoing is a true and correct
copy of the Notice of Meeting which was posted by me at
9;Xs- o ' clock ,g .m. on the ;y day of Ce... _Zw, , 1978 ,
in a place readily accessible to the general public at all
times , to-wit:
, in the City Hall of the City .
WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this
q day of 60d; ,z_ , 1978 .
ity Secreta
CITY OF PEA AND, TEXAS
(SEAL)
MINIM womm minim
CERTIFICATE FOR RESOLUTION APPROVING CLAIM AND
AUTHORIZING THE ISSUANCE OF CERTIFICATES OF OBLIGATION
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
We, the undersigned officers of the CITY OF PEARLAND,
TEXAS (the "City") , do hereby certify as follows :
1 . That we are the duly chosen, qualified and acting
officers of the City for the offices shown below our signatures
and that as such we are familiar with the facts herein certified.
2 . That there is attached to and follows this certificate
an excerpt of proceedings from the minutes of a meeting of the
City Council of the City (the "City Council") which is a true,
full and complete excerpt of all proceedings from the minutes of
the City Council pertaining to the adoption of the resolution de-
scribed therein; and that the persons named in such excerpt as
the officers and members of the City Council or as officers of
the City are the duly chosen, qualified and acting officers and
members as indicated therein.
3 . That a true and complete copy of the resolution (the
"Resolution") , as adopted at the meeting described in such excerpt
from the minutes , is attached to and follows such excerpt.
4 . That the Resolution has been duly and lawfully adopted
by the City Council and that the Mayor of the City has approved,
and hereby approves, the Resolution; that the Mayor and the City
Secretary of the City have duly signed and attested the Resolution
and each, respectively, hereby declares that the signing of this
certificate shall also constitute the signing of the Resolution
for all purposes; and that the Resolution, as signed, has been
duly recorded in the minutes of the City Council for such meeting.
5 . That each of the officers and members of the City
Council was duly and sufficiently notified officially and per-
sonally, in advance, of the date, hour, place and subject of
such meeting of the City Council , and that the Resolution would
be introduced and considered for passage at such meeting , and
each of such officers and members consented, in advance, to the
holding of such meeting to consider and act upon such subject.
6 . That written notice of the meeting of the City Council
described in the excerpt from the minutes was posted in the form
and manner required by law; and that such meeting was open to the
public as required by law at all times during which the Resolution
and the subject matter thereof were discussed, considered and
formally acted upon, all as required by the Open Meetings Act,
Article 6252-17, .Vernon' s Texas Civil Statutes , as amended.
SIGNED AND SEALED this 23rd day of October, 1978 .
City retary Mayor
(SEAL)
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
The City Council of the City of Pearland, Texas , convened
in regular meeting, open to the public, on the 23rd day of
October, 1978 , at the City Hall, and the roll was called of
the duly constituted officers and members of the City Council
and the City Secretary of the City , to-wit:
Tom Reid Mayor
Dennis Frauenberger Councilman
Harry Farley Councilman
Fran Coppinger Councilman
Morris S. Wilson Councilman
Carlton McComb Councilman
Dorothy L. Cook City Secretary
and all of said per ons were present, except the following ab-
sentees : /1/424/C._
thus constituting a quorum. Whereupon, among other business ,
the following was transacted at said meeting : a written reso-
lution entitled:
RESOLUTION APPROVING CLAIM AND AUTHORIZING
THE ISSUANCE OF CERTIFICATES OF OBLIGATION
(the "Resolution") was duly introduced for the consideration
of the City Council and reviewed in full. It was then duly
moved and seconded that the Resolution be passed; and, after
due discussion, the motion, carrying with it the passage of
the Resolution, prevailed and carried by the following vote:
AYES : All members of the City Council shown
present above voted "Aye" .
NOES: None.
The Mayor thereupon announced that the Resolution had been duly
and lawfully adopted. The Resolution thus adopted follows :
and to the full extent of the certificates of obligation here-
inafter authorized to be delivered; and no person, corporation
or trust estate has given notice in writing or otherwise to the
City, or to any official thereof, of any liens for any materials ,
apparatus, fixtures , machinery or labor furnished to the Con-
tractor as provided by Chapter 17, Acts of the Legislature of
Texas, 1925 (Article 5472-a, Vernon ' s Texas Civil Statutes) ,
or any other provision of law; and
WHEREAS, the City does not hold a claim of any kind or
character which might be properly charged or interposed as an
offset or counterclaim to the payment of the aforesaid claim;
and
WHEREAS, said claim has been assigned to Pearland State
Bank, Pearland, Texas, without discount, and said bank is now
the legal owner and holder thereof; and
WHEREAS, the City Council of the City wishes to approve
said claim and authorize the payment thereof by the issuance
and delivery of certain of said certificates of obligation,
all as shown on said Exhibit "A" and as hereinafter set out:
AMOUNT TO BE AMOUNT TO BE
CLAIMANT PAID NOW CARRIED FORWARD
Chennault Materials, Inc. $8 ,000 . 00 $120. 00
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PEARLAND, TEXAS THAT:
Section 1. The matters and facts contained in the preamble
of this resolution are hereby found and declared to be true and
correct.
Section 2 . The claim described in the preamble of this
resolution and fully set forth in Exhibit "A" mentioned in said
preamble shall be, and the same is hereby, approved and allowed,
and the City hereby acknowledges receipt of the full benefits
represented by said claim to the full extent thereof and to the
-2-
11.
EXHIBIT "A"
Claim No. 7 Dated: October 23 , 1978
of Chennault Materials , Inc. (the "Contractor") , against the
City of Pearland, Texas (the "City") , as per contract in the
amount of $74, 450 . 00 , between the City and the Contractor:
1 . Total completed to date $69 ,120 . 00
2. Less previous payments $61 ,000 . 00
3. Current payment due $ 8 , 120 .00
4. Amount to be paid Contractor by issuance
of Certificates of Obligation $ 8 , 000 . 00
5. Carry-over to next claim $ 120 .00
The amount shown in line 3 above represents our claim
against the City of Pearland, Texas , for furnishing materials
and supplies under and in conformity with the terms and condi-
tions of the contract described above; and $8 , 000 .00 of such
claim has been and is hereby assigned in full, without discount,
to Pearland State Bank, Pearland, Texas .
CHENNAULT MATERIALS , INC.
By
(Authorized Representative)
(SEAL)
(Title)
All materials and supplies represented by the claim shown
in line 3 above are in full accordance with the terms and con-
ditions of the contract described above, and such claim is
hereby in all things approved for payment by the City.
MALCOLM A. COLLINS , ENGINEER
By
DELIVERY CERTIFICATE
THE STATE OF TEXAS X
COUNTIES OF BRAZORIA AND HARRIS X
We, the undersigned, officers of the City Council of the City of
Pearland, Texas, certify that on the ,R3 day of October, 1978, we
delivered to Pearland State Bank, Pearland, Texas , the following :
CITY OF PEARLAND, TEXAS , CERTIFICATES OF OBLIGATION, SERIES
1976-A, dated July 1, 1976 , numbered consecutively from 104
through 111 , both inclusive, in the denomination of $1, 000
each, aggregating $8 , 000 , bearing interest at the rate of
6. 25% per annum, and maturing serially in their numerical
order on August 1 as follows :
$8, 000 1989
We further certify that, to our knowledge, there is no litigation
in any court, either pending or threatened, seeking to restrain or
enjoin the issuance of said certificates, the levy of taxes for the
payment thereof, or attacking the validity of said certificates or the
proceedings relating thereto, or the authority of the City to issue
the same or questioning or contesting the title of the present officers
of said City to their respective offices . We further certify that none
of the proceedings authorizing the issuance and delivery of said cer-
tificates have been repealed or rescinded; and no referendum petition
has been filed with respect thereto.
WITNESS our hands and the official seal of said C . y as of the
date shown above.
City Trea rer Mayor
(CITY SEAL) r
City Secretary
The foregoing signatures of the Mayor, City Secretary and City
Treasurer of the City of Pearland, Texas , are hereby certified to be
genuine.
• . " . AND STATE BANK
'ea ; :nd, r ex
(Signature of Officer)
1..P0aNi:IAJ
(BANK SEAL)
(Title of Officer)
We hereby acknowledge receipt of the certificates described above,
which certificates constitute full payment of our claim against said
City in the amount of $8, 000 , said claim having been assigned to us ,
without discount, by Chennault Materials , Inc .
PEA: A D STATE BANK
::S
d, Texs11,
` . �/v �
ignature of Officer)
C: fNa\liN-
(BANK
SEAL)
(Title of Officer)
NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
NOTICE is hereby given of a meeting of the City Council
of the CITY OF PEARLAND, Brazoria and Harris Counties , Texas
(the "City") , to be held on the 22nd day of January, 1979 , at
7 : 30 p.m. in the:
City Hall
Pearland, Texas
for the purpose of adopting a resolution approving claim and
authorizing the issuance of Certificates of Obligation, Series
1976-A, and for the purpose of conducting, considering and
acting upon such other business as shall come before the meeting .
The need of the City for such financing creates an emer-
gency and an urgent public necessity for the holding of the
meeting and for the adoption of such resolution at the meeting.
WITNESS MY HAND AND OFFICIAL SEAL OF THE CITY, this f ,
day of January, 1979 .
/s/ Dorothy L. Cook
City Secretary
CITY OF PEARLAND, TEXAS
(SEAL)
CERTIFICATE OF POSTING OF
NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
I , the undersigned officer of the CITY OF PEARLAND,
Brazoria and Harris Counties , Texas (the "City") , do hereby
execute this certificate for the benefit of all persons in-
terested in the posting of notice of a meeting of the City
Council of the City as required by the Open Meetings Act
(Article 6252-17 , Vernon' s Texas Civil Statutes , as amended)
and the validity of all actions and proceedings taken at such
meeting and I do hereby certify as follows :
1. I am the duly chosen, qualified and acting officer
of the City for the office shown beneath my signature, and
in such capacity I am familiar with the matters contained in
this certificate .
2 . The attached and foregoing is a true and correct
copy of the Notice of Meeting which was po ed by me at
// o 'clock 4 .m. on the / q day of , 1979 ,
in a place readily accessib t the gene 1 pub is t all
times , to-wit: the ,
gene
in the ity Hall of he City.
WITNESS M HAND AND THE OFFICIAL SEAL OF THE CITY, this 41, day of ,,� , 1979 .
ity Secretary
CITY OF PEA D, TEXAS
(SEAL)
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
The City Council of the City of Pearland, Texas , convened
in regular meeting, open to the public, on the 22nd day of
January, 1979 , at the City Hall, and the roll was called of
the duly constituted officers and members of the City Council
and the City Secretary of the City, to-wit:
Tom Reid Mayor
Dennis Frauenberger Councilman
Harry Farley Councilman
Fran Coppinger Councilman
Morris S . Wilson Councilman
Carlton McComb Councilman
Dorothy L. Cook City Secretary
and all of said persons were resent, except the following ab-
sentees : p�
thus constituting a quorum. Whereupon, among other business ,
the following was transacted at said meeting: a written reso-
lution entitled:
RESOLUTION APPROVING CLAIM AND AUTHORIZING
THE ISSUANCE OF CERTIFICATES OF OBLIGATION
(the "Resolution") was duly introduced for the consideration
of the City Council and reviewed in full. It was then duly
moved and seconded that the Resolution be passed; and, after
due discussion, the motion, carrying with it the passage of
the Resolution, prevailed and carried by the following vote :
AYES : All members of the City Council shown
present above voted "Aye" .
NOES : None .
The Mayor thereupon announced that the Resolution had been duly
and lawfully adopted. The Resolution thus adopted follows :
RESOLUTION APPROVING CLAIM AND AUTHORIZING
THE ISSUANCE OF CERTIFICATES OF OBLIGATION
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
WHEREAS, the City Council of the CITY OF PEARLAND, TEXAS
(the "City") , by resolution adopted June 14 , 1976 , found that
it was necessary and desirable for the City to purchase materials
and supplies for improving the roads , bridges and streets of
the City, to-wit: (1) base material and fill; (2) hot-mix
asphalt surfacing material; and (3) bridge construction materials
and supplies , and that certificates of obligation be issued by
the City for all or any part of the cost of same; and
WHEREAS, the City Council gave due and proper notice to
bidders of the time and place when and where a contract, or con-
tracts, for the purchase of such materials and supplies would
be let and due and proper notice of its intention to issue
such certificates of obligation; and
WHEREAS, the City Council thereafter awarded a contract
to CHENNAULT MATERIALS, INC. , Houston, Texas (the "Contractor")
in the amount of $74 , 450 .00 , as the lowest and best bid for the
furnishing of the base material and fill and the Contractor at
the time of the receipt of such bid elected to assign such cer-
tificates in payment for all or any part of the cost of the
contract in accordance with the arrangements made by the City
Council; and
WHEREAS, the Contractor, as shown on a true copy of its
Claim No. 8, attached hereto as Exhibit "A" and made a part
hereof as if fully written herein, has submitted said claim for
furnishing such materials and supplies; and
WHEREAS, the City has received the full benefits of such
contract represented by said claim to the full extent thereof
and to the full extent of the certificates of obligation here-
inafter authorized to be delivered; and no person, corporation
or trust estate has given notice in writing or otherwise to the
City, or to any official thereof, of any liens for any materials ,
apparatus, fixtures , machinery or labor furnished to the Con-
tractor as provided by Chapter 17 , Acts of the Legislature of
Texas , 1925 (Article 5472-a, Vernon' s Texas Civil Statutes) ,
or any other provision of law; and
WHEREAS, the City does not hold a claim of any kind or
character which might be properly charged or interposed as an
offset or counterclaim to the payment of the aforesaid claim;
and
WHEREAS, said claim has been assigned to Pearland State
Bank, Pearland, Texas , without discount, and said bank is now
the legal owner and holder thereof; and
WHEREAS, the City Council of the City wishes to approve
said claim and authorize the payment thereof by the issuance
and delivery of certain of said certificates of obligation,
all as shown on said Exhibit "A" and as hereinafter set out:
AMOUNT TO BE AMOUNT TO BE
CLAIMANT PAID NOW CARRIED FORWARD
Chennault Materials, Inc. $3, 000 .00 $154 . 50
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PEARLAND, TEXAS THAT:
Section 1. The matters and facts contained in the preamble
of this resolution are hereby found and declared to be true and
correct.
Section 2. The claim described in the preamble of this
resolution and fully set forth in Exhibit "A" mentioned in said
preamble shall be, and the same is hereby, approved and allowed,
and the City hereby acknowledges receipt of the full benefits
represented by said claim to the full extent thereof and to the
-2-
full extent of the certificates of obligation herein authorized
to be delivered; and the City hereby recognizes and approves the
transfer and assignment of said claim and account to Pearland
State Bank, Pearland, Texas .
Section 3. There is now due and owing to said bank the
sum of $3, 000 . 00 and to the Contractor the sum of $154 . 50 .
Section 4. There shall be executed and delivered to said
bank Certificates Nos. 112 through 114 , both inclusive , aggre-
gating $3 , 000, of the CITY OF PEARLAND, TEXAS , CERTIFICATES
OF OBLIGATION, SERIES 1976-A, dated July 1, 1976 , and the sum
of $154. 50 shall be carried forward to the next delivery of
such Certificates to the Contractor.
Section 5 . The Mayor, City Secretary, City Treasurer,
and other appropriate City officials, are hereby authorized and
directed to deliver said Certificates above mentioned and to
do any and all things necessary or convenient to carry out the
terms of this resolution.
PASSED AND APPROVED this 22nd day of January, 1979 .
/s/ Tom Reid
ATTEST:
Mayor
CITY OF PEARLAND, TEXAS
/s/ Dorothy L. Cook
City Secretary
CITY OF PEARLAND, TEXAS
(SEAL)
-3-
DELIVERY CERTIFICATE
THE STATE OF TEXAS X
COUNTIES OF BRAZORIA AND HARRIS X
We, the undersigned, officers of the City Council of the City of
Pearland, Texas , certify that on the a1 day of January, 1979 , we
delivered to Pearland State Bank, Pearland, Texas , the following :
CITY OF PEARLAND, TEXAS , CERTIFICATES OF OBLIGATION, SERIES
1976-A, dated July I, 1976 , numbered consecutively from 112
through 114 , both inclusive, in the denomination of $1, 000
each, aggregating $3 , 000 , bearing interest at the rate of
6 . 25% per annum, and maturing serially in their numerical
order on August 1 as follows :.
$3 , 000 1989
We further certify that, to our knowledge, there is no litigation
in any court, either pending or threatened, seeking to restrain or
enjoin the issuance of said certificates , the levy of taxes for the
payment thereof , or attacking the validity of said certificates or the
proceedings relating thereto, or the authority of the City to issue
the same or questioning or contesting the title of the present officers
of said City to their respective offices . We further certify that none
of the proceedings authorizing the issuance and delivery of said cer-
tificates have been repealed or rescinded; and no referendum petition
has been filed with respect thereto.
WITNESS our hands and the official seal of said City as of the
date shown above.
City Trea rer Mayor
(CITY SEAL) )
C Secretary
The foregoing signatures of the Mayor, City Secretary and City
Treasurer of the City of Pearland, Texas, are hereby certified to be
genuine.
P AND STATE BANK
arl nd, Texas
b.��.
(Signature of Officer)
(BANK SEAL)
Title of Officer)
We hereby acknowledge receipt of the certificates described above,
which certificates constitute full payment of our claim against said
City in the amount of $3, 000 , said claim having been assigned to us ,
without discount, by Chennault Materials, Inc.
PEAR D STATE BANK
Pe la , Texas
By
Signature of Officer)
(BANK SEAL) •
(Ti le of Officer)
4
NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
NOTICE is hereby given of a meeting of the City Council
of the CITY OF PEARLAND, Brazoria and Harris Counties , Texas
(the "City") , to be held on the 26th day of February, 1979 , at
7 : 30 p.m. in the:
City Hall
Pearland, Texas
for the purpose of adopting a resolution approving claim and
authorizing the issuance of Certificates of Obligation, Series
1976-A, and for the purpose of conducting, considering and
acting upon such other business as shall come before the meeting.
The need of the City for such financing creates an emer-
gency and an urgent public necessity for the holding of the
meeting and for the adoption of such resolution at the meeting.
WITNESS MY HAND AND OFFICIAL SEAL OF THE CITY, this oz4
day of February, 1979 .
/s/ Dorothy L. Cook
City Secretary
CITY OF PEARLAND, TEXAS
(SEAL)
CERTIFICATE OF POSTING OF
NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
I, the undersigned officer of the CITY OF PEARLAND,
Brazoria and Harris Counties , Texas (the "City") , do hereby
execute this certificate for the benefit of all persons in-
terested in the posting of notice of a meeting of the City
Council of the City as required by the Open Meetings Act
(Article 6252-17, Vernon' s Texas Civil Statutes , as amended)
and the validity of all actions and proceedings taken at such
meeting and I do hereby certify as follows :
1. I am the duly chosen, qualified and acting officer
of the City for the office shown beneath my signature, and
in such capacity I am familiar with the matters contained in
this certificate .
2 . The attached and foregoing is a true and correct
copy of the ,Notice of Meeting which was posted by me at
/o c c o 'clock „4 .m. on the Z€ day of �� , 1979 ,
in a place readily accessible to the,.general public at all
times , to-wit:
, in the City Hall of the City.
WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this
C?4, day of , 1979 .
City Secretar
CITY OF PEA ND, TEXAS
(SEAL)
CERTIFICATE OF POSTING OF
NOTICE OF MEETING
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
I, the undersigned officer of the CITY OF PEARLAND,
Brazoria and Harris Counties , Texas (the "City") , do hereby
execute this certificate for the benefit of all persons in-
terested in the posting of notice of a meeting of the City
Council of the City as required by the Open Meetings Act
(Article 6252-17 , Vernon ' s Texas Civil Statutes , as amended)
and the validity of all actions and proceedings taken at such
meeting and I do hereby certify as follows :
1 . I am the duly chosen, qualified and acting officer
of the City for the office shown beneath my signature, and
in such capacity I am familiar with the matters contained in
this certificate .
2 . The attached and foregoing is a true and correct
copy of the ,Notice of Meeting which was posted by me at
/o o 0 o ' clock A- .m. on the a2d day of -�, , 1979 ,
in a place read ly accessible to the,general public at all
times , to-wit:
, in the City Hall of the City. •
WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this
day of , 1979 .
City Secretar �C L
CITY OF PEA ND, TEXAS
(SEAL)
CERTIFICATE FOR RESOLUTION APPROVING CLAIM AND
AUTHORIZING THE ISSUANCE OF CERTIFICATES OF OBLIGATION
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
We, the undersigned officers of the CITY OF PEARLAND,
TEXAS (the "City") , do hereby certify as follows :
1 . That we are the duly chosen, qualified and acting
officers of the City for the offices shown below our signatures
and that as such we are familiar with the facts herein certified.
2 . That there is attached to and follows this certificate
an excerpt of proceedings from the minutes of a meeting of the
City Council of the City (the "City Council") which is a true,
full and complete excerpt of all proceedings from the minutes of
the City Council pertaining to the adoption of the resolution de-
scribed therein; and that the persons named in such excerpt as
the officers and members of the City Council or as officers of
the City are the duly chosen, qualified and acting officers and
members as indicated therein.
3 . That a true and complete copy of the resolution (the
"Resolution") , as adopted at the meeting described in such excerpt
from the minutes , is attached to and follows such excerpt.
4 . That the Resolution has been duly and lawfully adopted
by the City Council and that the Mayor of the City has approved,
and hereby approves , the Resolution; that the Mayor and the City
Secretary of the City have duly signed and attested the Resolution
and each, respectively, hereby declares that the signing of this
certificate shall also constitute the signing of the Resolution
for all purposes; and that the Resolution, as signed, has been
duly recorded in the minutes of the City Council for such meeting.
5 . That each of the officers and members of the City
Council was duly and sufficiently notified officially and per-
sonally, in advance, of the date, hour , place and subject of
such meeting of the City Council, and that the Resolution would
be introduced and considered for passage at such meeting, and
each of such officers and members consented, in advance, to the
holding of such meeting to consider and act upon such subject.
6 . That written notice of the meeting of the City Council
described in the excerpt from the minutes was posted in the form
and manner required by law; and that such meeting was open to the
public as required by law at all times during which the Resolution
and the subject matter thereof were discussed, considered and
formally acted upon, all as required by the Open Meetings Act,
Article 6252-17 , Vernon ' s Texas Civil Statutes , as amended.
SIGNED AND SEALED this 26th day of February, 7 .
City S r to y Mayor
(SEAL)
is mom. .1=1.1 smImim
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
The City Council of the City of Pearland, Texas , convened
in regular meeting, open to the public, on the 26th day of
February, 1979 , at the City Hall, and the roll was called of
the duly constituted officers and members of the City Council
and the City Secretary of the City, to-wit:
Tom Reid Mayor
Dennis Frauenberger Councilman
Harry Farley Councilman
Fran Coppinger Councilman
Morris S . Wilson Councilman
Carlton McComb Councilman
Dorothy L. Cook City Secretary
and all of said persons were present, except the following ab-
sentees : f, ,
thus constituting a quorum. Whereupon, among other business ,
the following was transacted at said meeting: a written reso-
lution entitled:
RESOLUTION APPROVING CLAIM AND AUTHORIZING
THE ISSUANCE OF CERTIFICATES OF OBLIGATION
(the "Resolution") was duly introduced for the consideration
of the City Council and reviewed in full. It was then duly
moved and seconded that the Resolution be passed; and, after
due discussion, the motion, carrying with it the passage of
the Resolution, prevailed and carried by the following vote:
AYES: All members of the City Council shown
present above voted "Aye" .
NOES: None.
The Mayor thereupon announced that the Resolution had been duly
and lawfully adopted. The Resolution thus adopted follows :
RESOLUTION APPROVING CLAIM AND AUTHORIZING
THE ISSUANCE OF CERTIFICATES OF OBLIGATION
THE STATE OF TEXAS §
COUNTIES OF BRAZORIA AND HARRIS §
CITY OF PEARLAND §
WHEREAS , the City Council of the CITY OF PEARLAND, TEXAS
(the "City") , by resolution adopted June 14 , 1976 , found that
it was necessary and desirable for the City to purchase materials
and supplies for improving the roads , bridges and streets of
the City, to-wit: (1) base material and fill; (2) hot-mix
asphalt surfacing material; and (3) bridge construction materials
and supplies, and that certificates of obligation be issued by
the City for all or any part of the cost of same; and
WHEREAS, the City Council gave due and proper notice to
.
bidders of the time and place when and where a contract, or con-
tracts, for the purchase of such materials and supplies would
be let and due and proper notice of its intention to issue
such certificates of obligation; and
WHEREAS, the City Council thereafter awarded a contract
to CHENNAULT MATERIALS, INC. , Houston, Texas (the "Contractor")
in the amount of $74 , 450 . 00 , as the lowest and best bid for the
furnishing of the base material and fill and the Contractor at
the time of the receipt of such bid elected to assign such cer-
r-
tificates in payment for all or any part of the cost of the
contract in accordance with the arrangements made by the City
Council; and
WHEREAS, the Contractor, as shown on a true copy of its
Claim No. 9 , attached hereto as Exhibit "A" and made a part
hereof as if fully written herein, has submitted said claim for
furnishing such materials and supplies; and
WHEREAS, the City has received the full benefits of such
contract represented by said claim to the full extent thereof
and to the full extent of the certificates of obligation here-
inafter authorized to be delivered; and no person, corporation
or trust estate has given notice in writing or otherwise to the
City, or to any official thereof, of any liens for any materials ,
apparatus, fixtures, machinery or labor furnished to the Con-
tractor as provided by Chapter 17 , Acts of the Legislature of
Texas, 1925 (Article 5472-a, Vernon' s Texas Civil Statutes) ,
or any other provision of law; and
WHEREAS, the City does not hold a claim of any kind or
character which might be properly charged or interposed as an
offset or counterclaim to the payment of the aforesaid claim;
and
WHEREAS, said claim has been assigned to Pearland State
Bank, Pearland, Texas , without discount, and said bank is now
the legal owner and holder thereof; and
WHEREAS , the City Council of the City wishes to approve
said claim and authorize the payment thereof by the issuance
and delivery of certain of said certificates of obligation,
all as shown on said Exhibit "A" and as hereinafter set out:
AMOUNT TO BE
PAID BY ISSUANCE AMOUNT TO BE
OF CERTIFICATES PAID IN CASH
CLAIMANT OF OBLIGATION BY CITY
Chennault Materials, Inc. $2, 000 .00 $237 . 00
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PEARLAND, TEXAS THAT:
Section 1. The matters and facts contained in the preamble
of this resolution are hereby found and declared to be true and
correct.
Section 2. The claim described in the preamble of this
resolution and fully set forth in Exhibit "A" mentioned in said
preamble shall be, and the same is hereby, approved and allowed,
and the City hereby acknowledges receipt of the full benefits
represented by said claim to the full extent thereof and to the
-2-
full extent of the certificates of obligation herein authorized
to be delivered; and the City hereby recognizes and approves the
transfer and assignment of said claim and account to Pearland
State Bank, Pearland, Texas .
Section 3 . There is now due and owing to said bank the
sum of $2, 000 . 00 and to the Contractor the sum of $237 . 00 .
Section 4 . There shall be executed and delivered to said
bank Certificates Nos . 115 through 116, both inclusive, aggre-
gating $2 ,000 , of the CITY OF PEARLAND, TEXAS, CERTIFICATES
OF OBLIGATION, SERIES 1976-A, dated July 1, 1976 , and the sum
of $237 .00 shall be paid in cash by City out of available funds
to the Contractor.
Section 5. The Mayor, City Secretary, City Treasurer,
and other appropriate City officials, are hereby authorized and
directed to deliver said Certificates above mentioned and to
do any and all things necessary or convenient to carry out the
terms of this resolution.
PASSED AND APPROVED this 26th day of February, 1979 .
/s/ Tom Reid
ATTEST:
Mayor
CITY OF PEARLAND, TEXAS
/s/ Dorothy L. Cook
City Secretary
CITY OF PEARLAND, TEXAS
(SEAL)
-3-
mmm mom.
EXHIBIT "A"
Claim No. 9 Dated: February 26, 1979
of Chennault Materials, Inc. (the "Contractor") , against the
City of Pearland, Texas (the "City") , as per contract in the
amount of $74, 450. 00, between the City and the Contractor:
1. Total completed to date $74 , 237 .00
2. Less previous payments $72 ,000 . 00
3. Current payment due $ 2 , 237. 00
4 . Amount to be paid Contractor by issuance
of Certificates of Obligation $ 2 , 000 .00
5. Amount to be paid by City $ 237 . 00
The amount shown in line 3 above represents our claim
against the City of Pearland, Texas , for furnishing materials
and supplies under and in conformity with the terms and condi-
tions of the contract described above; and $2, 000 . 00 of such
claim has been and is hereby assigned in full, without discount,
' to Pearland State Bank, Pearland, Texas .
CHENNAULT MATERIALS , INC.
By
(Authorized Representative)
(SEAL)
(Title)
All materials and supplies represented by the claim shown
in line 3 above are in full accordance with the terms and con-
ditions of the contract described above, and such claim is
hereby in all things approved for payment by the City.
MALCOLM A. COLLINS , ENGINEER
By
simm
•
DELIVERY CERTIFICATE
THE STATE OF TEXAS X
COUNTIES OF BRAZORIA AND HARRIS X
We, the undersigned, officers of the City Council of the City of
Pearland, Texas , certify that on the aI day of February, 1979 , we
delivered to Pearland State Bank, Pearland, Texas , the following:
CITY OF PEARLAND, TEXAS, CERTIFICATES OF OBLIGATION, SERIES
1976-A, dated July 1, 1976, numbered consecutively from 115
through 116, both inclusive, in the denomination of $1, 000
each, aggregating $2, 000 , bearing interest at the rate of
6. 25% per annum, and maturing serially in their numerical
order on August 1 as follows:
$1, 000 1989
1, 000 1990
We further certify that, to our knowledge, there is no litigation
in any court, either pending or threatened, seeking to restrain or
enjoin the issuance of said certificates , the levy of taxes for the
payment thereof, or attacking the validity of said certificates or the
proceedings relating thereto, or the authority of the City to issue
the same or questioning or contesting the title of the present officers
of said City to their respective offices. We further certify that none
of the proceedings authorizing the issuance and delivery of said cer-
tificates have been repealed or rescinded; and no referendum petition
has been filed with respect thereto.
WITNESS our hands and the official seal of said Cit as of the
date shown above.
City Trea rer Mayor
(CITY SEAL)
Secretary
The foregoing signatures of the Mayor, City Secretary and City
Treasurer of the City of Pearland, Texas, are hereby certified to be
genuine.
PEAR D STATE BANK
Pea , . �. , Texas
. 1b:rk
ignature of Officer)
(NNIVA.N.
(BANX SEAL)
(Ti le of Officer)
We hereby acknowledge receipt of the certificates described above,
which certificates constitute full payment of our claim against said
City in the amount of $2 ,000, said claim having been assigned to us ,
without discount, by Chennault Materials, Inc.
PEARLAND STATE BANK
Pea . . • , Texas
By % , b.
(Signature of 0 ficer)
(BANK SEAL)
(Title of Officer)
rim pm rim rola rm. pm "mg Fong Fowl pm!' wog MI% samil in% win
M14
o. „ $1,0
El UNITED STATES OF AMERICA gi
El STATE OF TEXAS gi
COUNTIES OF BRAZORIA AND HARRIS
gl CITY OF PEARLAND, TEXAS tl
Bi ' CERTIFICATE OF OBLIGATION • At.
gi
SERIES 1976-A gi
gi ON AUGUST 1, 19 91 , the CITY OF PEARLAND (hereinafter called the
"City") , in the Counties of Brazoria and Harris , in the State of Texas )
promises to pay to bearer or, if this Certificate is registered, to they
registered owner hereof, the principal amount of 3
ONE THOUSAND DOLLARS EA
and to pay interest thereon, FROM THE DATE OF INITIAL DELIVERY SHOWN
RION THE FACE HEREOF, to bearer or, if this Certificate is registered, El
reito the registered owner hereof, at the rate of 6. 25% per annum, inter NI
-
est payable August 1, 1977, and annually thereafter on each August 1 gl
while this Certificate is outstanding . Both the principal of and in gl
-
terest on this Certificate shall be payable, without exchange or col-
lection charges to the owners or holders, upon presentation and, in iN
the case of the principal when due, surrender of this Certificate at
tg the PEARLAND STATE BANK, Pearland, Texas, which shall be the paying
agent for this series of Certificates .
NI Ri
Ri
El THIS CERTIFICATE is • •e of a series of negotiable, registrable pl
gi Certificates of Obliga lob' , ated July 1 , 1976, numbered from 1 through
ni 195, in the denominati. - • l,l, 00 each, aggregating $195,000, issued gi
gi in accordance with the ois'tit�1V`'n and laws of the State of Texas, Ri
particularly Article 2368a.1 VOr�' s Texas Civil Statutes , as amende
ll
NI for the purpose of evidencing ,/in tedness of the City for all or
any part of the cost of purchas m a als and supplies for improving0
the roads, bridges and streets of Oce"Ci to-wit : (1) base material gl
and fill; (2) hot-mix asphalt surfac ma / al; and (3 ) bridge con-
struction materials and supplies, inch t ost of professionalNI
Ri services in connection_ therewith, and pu a , an ordinance adopted
gi by the City Council of the City on the 12th 4i y of July, 1976 . El
El IT IS HEREBY certified, recited, and cov anted that this Certifi
M St
cate has been duly and validly authorized, issued, and delivered; that
all acts, conditions, and things required or proper to be performed, El
Ei exist, and be done precedent to or in the issuance and delivery of thisNi
Certificate, have been performed, existed, and been done in accordance NI
NJ with law; that this Certificate is a general obligation of the City;
hi that annual ad valorem taxes sufficient to provide for the payment of
the interest on and principal of this Certificate, as such interest fl-
comes due and such principal matures , have been levied and ordered
il to be levied against all taxable property in the City and have been
ig pledged irrevocably for such payment within the limits prescribed by
law; that this Certificate shall be a debt of the City within the El
PA meaning of Article XI, Sections 5 and 7 of the Constitution of Texas ; Ill
al
and that , when delivered , this Certificate shall be deemed and con-
ralstrued (i ) to be a "Security" within the meaning of Chapter 8 , Invest-
ors ment Securities, Uniform Commercial Code (Chapter 785 , Acts of the
m 60th Legislature, Regular Session, 1967 ) , and (ii) to be a general "
L1 obligation of the City within the meaning of Chapter 784 , Acts of the r
M 61st Legislature of Texas, Regular Session, 1969 . 1
THIS CERTIFICATE shall be transferable by delivery unless regis- „
Eltered as to principal in the owner ' s name upon books of the City to
m be kept for that purpose at the office of the City Secretary of the pl
m City, the registrar, such registration to be noted hereon. After
LI such registration, no transfer of this Certificate shall be valid
unless made on said books at the request of the registered owner
hereof, or his duly authorized agent , and similarly noted hereon; but
this Certificate may be discharged from registration by being in like El
S4 NI
manner transferred to bearer, whereupon transferability by delivery
X shall be restored; and this Certificate may again and from time to gi
time be registered or made payable to bearer as before . El
El El RR
IN WITNESS WHEREOF, this Certificate of Obligation has been signed
by the Mayor of, the City and countersigned by the City Secretary of
the City, and the official seal of the City has been duly impressed,
or placed in facsimile, on this Certificate .
DATE OF INITIAL DELIVERY OF THIS CERTIFICATE:
19
Mayor
COUNTERSIGNED : <7,\\:\ >
City Secretary
(SEAL)
61JN
(L��bY.�WTi97Ji7JNit'iiniXiiniEJlTlNJNJEMEMEMEMEiITiraii MEKJ�TI rT�IT�lT17T)NJQ/WtT�®T/WNO�':?'as:;""
IT IS HEREBY CERTIFIED that , at the request of the holder of the
within Certificate, I have this day registered it as to principal in
the name of such holder as indicated in the registration blank below,
on the books kept by me for such purpose . The principal of and inter-
est on this Certificate shall be payable only to the registered holder
named in the below registration blanks . If the last transfer recorded
on the books of the Registrar and in the below registration blank shall
be to bearer, the principal and interest of this Certificate shall be
payable to bearer, and such Certificate shall be in all respects
negotiable .
Signature of
Name of Date of City Secretary
Registered Holder Registration (Registrar)
I--
[Sr. 90r
tCA'V UNDERWOOD, NEUHAUS & CO.
l/,y 1 724 TRAVIS ST.AT RUSK AVE.
L0�y,{� HOUSTON.TEXAS 77002
(//y (713) 221-2200
U 5 GOVERNMENT MUNICIPAL
AND CORPORATE SECURITIES
REAL ESTATE INVESTMENTS
SECURITIES OPTIONS
MEMBERS
PRINCIPAL SECURITIES EXCHANGES
SECURITIES INVESTOR PROTECTION
CORPORATION
August 11 , 1982
Mr . C. Willard Houser
Senior Vice President
First City National Bank
of Austin
P. 0 . Box 1727
Austin , TX 78767
Re : $6 , 100, 000 City of Pearland
Permanent Improvement Bonds,
Series 1982
Dear Mr . Houser :
Cowen & Company/Rowles Winston Division anticipates taking
delivery of the above captioned bond issue at your bank on
Tuesday , August 17 , 1982 . The account will pay as follows :
Principal ( Par ) $6, 100 , 000 . 00
Accrued Interest ( 46 days) 90 , 690 . 27
Total Amount $6 , 190 , 690 . 27
Apply Good Faith Deposit ( 122 , 000. 00)
Remaining Amount to
be Received $6 , 068 , 690. 27
Mr . Howard Mays , Vinson & Elkins , will be handling all legal
matters pertaining to the closing . Ms . Dorothy Thompson of the
City of Pearland will deposit the Good Faith Check in the
District ' s construction account the day of closing .
Mr . C. Willard Houser
August 11 , 1982
Page Two
Upon receipt of the $6 , 068 , 690. 27 , please wire the funds to
the District ' s depository bank , Pearland State Bank , Pearland ,
Texas , to be deposited in the City of Pearland Bond Fund .
If you have any additional questions , please do not hesitate
to call .
Sincerely,
Frank J . Ildebrando
Vice President
FJI/te
cc : Howard Mays , Vinson & Elkins
Barry Overbaugh , Cowen & Company , Houston
Lynn Heinz , Cowen & Company , Houston
Ernestine Garza , Cowen & Company , Houston
Wire Transfer Dept . , Pearland State Bank , Pearland
Tom Reid , Mayor , City of Pearland
Ron Wicker , City Manager , City of Pearland
James DeShazer , Tax Assessor-Collector , City of Pearland
Dorothy Thompson , Director of Finance , City of Pearland
Shirley Morgan , Underwood , Neuhaus & Co . 'Incorporated
`- . -
. '
� v
- DEBT SERVICE REQUIREMENT SCHEDULE '
---------------------------------
$6, 1OO,OOO
CITY OF PEARLAND
PERMANENT IMPROVEMENT BONDS .
� SERIES 1982 -
,
`- ---------------------------- CURRENT ISSUE -------------------------------------
FISCAL YEAR PRESENT PRINCIPAL & TOTAL
ENDING DEBT PRINCIPAL INTEREST INTEREST INTEREST PRINCIPAL TOTAL ANNUAL
9/30 REQUIREMENT COUPON DUE: 3/ 1 DUE: 3/ 1 DUE: 3/ 1 DUE: 9/ 1 & INTEREST REQUIREMENTS
----------- ----------- ------ ----------- ------------- ------------- ------------- ------------- --------------
1982 $575,702 $575,702
1983 565,288 473, 166.67 473, 166^67 354,875^00 828,041 ^67 1 ,393030
1984 564,8O8 12.000 1OO,OOO 354,875,00 454 ,875^00 348,875.00 803,750^00 1 ,368'558
`- ` 1985 560412 12^000 150,O00 348,875,00 498,875.00 339,875.00 838,750^00 1 ,402, 162 -'
\ 1986 565,755 12^000 175,OOO 339,875^00 514,875^00 329,375^00 844,250^00 1 ,410'O05 !�
1987 562,O51 12^000 225,OOO 329'375^00 550375^00 315,875,00 870,250^00 0432001
1988 563,389 12^000 300,O00 315,875^00 615'875^00 297,875,00 913,75000 0477' 139
1989 566,765 12^000 350,000 297,875^00 647,875^00 276,875^00 924,750^00 1 ,491 ,515
._ 1990 557,214 12^000 400,O00 276,875^00 676,875^00 252,875,00 929,750^00 1 ,486'964 .
1991 542,889 10^600 450,O00 252,875^00 702,875^00 229,O25^00 930900.00 0470789 -
1992 527,491 10, 900 500,0OO 229,O25,00 729,025^00 201 ,775,00 93O,800^00 0450291
1993 511 ,O02 11 ^ 150 550,OOO 201 , 775,00 751 ,775^00 171 , 112^50 922,887^50 1 '433'890
- `- 1994 406, 142 11 ,400 650,000 171 , 112,50 821 , 112^50 134 ,O62^50 955, 175^00 1 ,361 '317 -'
1995 394,O12 11 ^750 750,O00 134,O62.50 884,O62,50 90,O00^00 974,O62^50 1 ,368'075
1996 277'5OO 12,000 75O,O0O 9O,OOO OO 84O,OOO OO 45,OOO OO 885,0OO OO 1 , 162'5OO
^ ^ ^ ^ ^ ._/
' 1997 263, 750 12^000 750,O00 45,O00.00 795'O00^00 795,O00^00 0058050
"
BONDS DATED: JULY 1 , 1982
BONDS DUE: MARCH 1 , 1984/1997
�- INTEREST DUE: MARCH 1 , 1983, AND EACH SEPTEMBER 1 AND MARCH 1 THEREAFTER .~
OPTION: BONDS MATURING MARCH 1 , 1992 THROUGH 1997, BOTH INCLUSIVE, ARE SUBJECT TO '
REDEMPTION, AT THE OPTION OF THE CITY, AT THE PAR VALUE THEREOF, PLUS ACCRUED
INTEREST, ON MARCH 1 , 1991 , OR ON ANY INTEREST PAYMENT DATE THEREAFTER
RATINGS: MOODY'S INVESTOR'S SERVICE, INC. "A"
STANDARD & POOR'S CORPORATION "A"
BOND COUNSEL: MESSRS^ VINSON & ELKINS, HOUSTON, TEXAS
FINANCIAL ADVISOR: UNDERWOOD, NEUHAUS & CO. , INC, , HOUSTON, TEXAS
� PAYING AGENT- PEARLAND STATE BANK, PEARLAND, TEXAS
`- CO-PAYING AGENT: FIRST NATIONAL BANK OF PEARLAND, PEARLAND, TEXAS ._^
/
`
� r
`- .-
^- -
. . �
~~ /_
�-
TOTAL INTEREST OPTION (YIN)? Y -
ENTER INTEREST COLUMNS ( 02) OR ( 03) OR (2,3)? 1 ,3
YEAR TOTAL INTEREST '
�-
1982 O^OO -
1983 828,O41 ^67
1984 703,750^00
1985 688, 750^00 -
� 1986 669,250^00 '
1987 645,250^00 .
�- 1988 6137750^00 -
1989 574,750^00 ' ^ �
`
1990 529, 750^00
^� 1991 481 ,900^00 -
1992 430,800^00
1993 372,887^50
`~
1994 305, 175^00 -
1995 224,O62^50
1996 135,000^00
1997 45,000,00 -
� ---- ----------------
7,248, 116^67
/
READY
! /
�~ BYE F ~
% '
�
� ���
This Official Notice of Sale does not alone constitute an invitation for bids but is
merely notice of sale of the bonds described herein. The invitation for such bids is
being made by means of this Official Notice of Sale, the Official Bid Form and the
Preliminary Official Statement.
OFFICIAL NOTICE OF SALE
$6,100,000
CITY OF PEARLAND
(A political subdivision of the State of Texas,
located within Brazoria and Harris Counties)
PERMANENT IMPROVEMENT BONDS
SERIES 1982
•
THE SALE
Bonds Offered for Sale at Competitive Bid:
The City Council (the ' Council") of the City of Pearland, Texas (the "City") , is
offering for sale at competitive bid $6, 100,000 Permanent Improvement Bonds, Series 1982
(the "Bonds") .
Bid Opening:
The Council will open end publicly read sealed bids for the purchase of the Bonds at
the City Hall, 2335 North Texas Avenue, Pearland, Texas at 7:30 P.M. , Central Daylight
Saving Time, Monday, July 12, 1982. Sealed bids, which must be submitted on the Official
Bid Form and plainly marked "Bid for Bonds", are to be addressed to "Mayor and City
Council, City of Pearland, Texas". All bids must be delivered to the above address prior
to the above scheduled time for bid opening. Any bid received after such scheduled time
for bid opening will not be accepted and will be returned unopened.
Award of the Sale of Bonds:
The Council will take action to adopt an ordinance (the "Bond Ordinance") authorizing
the issuance and awarding sale of the Bonds or will reject all bids promptly after the
opening of bids. The Council reserves the right to reject any and all bids and to waive
any irregularities, except time of filing.
THE BONDS
Description of Certain Terms of the Bonds:
The Bonds will be dated July 1 , 1982, with interest payable on March 1 , 1983, and
each September 1 and March 1 thereafter until the earlier of maturity or redemption.
Principal and interest are payable at the Pearland State Bank, Pearland, Texas, or at a
bank to be designated by the Underwriter. The Bonds maturing March 1 , 1992 through 1997,
both inclusive, are subject to redemption, at the option of the City, at the par value
thereof, plus accrued interest, as a whole (or if in part, in inverse numerical order) on
March 1 , 1991 , or on any interest payment date thereafter. The Bonds will mature serially
on March 1 as follows:
Year Amount Year Amount
1984 $100,000 1991 $450,000
1985 150,000 1992 500,000
1986 175,000 1993 550,000
1987 225,000 1994 650,000
1988 300,000 1995 750,000
1989 350,000 1996 750,000
1990 400,000 1997 750,000
Security for Payment:
The Bonds, when issued, will be valid and binding obligations of the City, payable
from the proceeds of a continuing, direct ad valorem tax levied, within the limits pre-
scribed by the Constitution and laws of the State of Texas, against taxable property
within the City.
CONDITIONS OF SALE
Types of Bids and Interest Rates:
The Bonds will be sold in one block on an "all or none" basis, at a price of not less
than the par value thereof plus accrued interest to the date of delivery. Bidders are to
name the rates of interest to be borne by the Bonds, provided that each rate bid must be
in a multiple of 1/8th of 1% or 1/20th of 1%. All Bonds maturing within a single year
must bear the same rate of interest; supplemental coupons will not be considered. No
limitation will be imposed upon bidders as to the number of rates or coupon changes which
may be used; provided, however, that the highest coupon rate bid may not exceed the lowest
coupon rate bid by more than 1 1/2% in coupon rate. Bidders shall indicate the total and
net interest costs in dollars and the net effective interest rate determined therefrom,
which shall be considered informative only and not as a part of the bid.
Basis of Award:
For the purpose of awarding sale of the Bonds, the interest cost of each bid will be
computed by determining, at the rates specified therein, the total dollar value of all
interest on the Bonds from the date thereof to their respective maturities, and subtract-
ing therefrom the premium, if any. Subject to the Council 's right to reject any or ell
bids, sale of the Bonds will be awarded to the bidder (the "Underwriter") whose bid, under
the above computation, produces the lowest net interest cost. In the event of mathemati-
cal discrepancies between the coupon rates bid and the interest cost or effective interest
rate determined therefrom, as both appear on the Official Bid Form, the bid will be
governed solely by the coupon rates named.
Co-Paying Agent Bank:
The Underwriter may, within 24 hours of the award of sale of the Bonds, name the co-
paying agent bank for the Bonds, provided that such paying agent is located within a
Federal Reserve City and is acceptable to the City. Should the Underwriter not name a
bank within such 24 hour period, Pearland State Bank will serve as the paying agent bank.
Good Faith Deposit:
Each bid must be accompanied by a bank cashier's check payable to the order of "City
of Pearland, Texas" in the amount of $122,000. The check of the Underwriter will be con-
sidered the Good Faith Deposit, which will be retained uncashed and will bear no interest
pending the Underwriter 's compliance with the bid terms presented herein and in the
Official Bid Form. Checks accompanying other bids will be returned immediately after the
bids are opened and the award of sale of the Bonds has been made. In the event the Under-
writer should fail or refuse to take up and pay for the Bonds in accordance with such
terms, then the Good Faith Deposit will be cashed and the proceeds accepted by the City as
full and complete liquidated damages.
The Good Faith Deposit may accompany the Official Bid Form or it may be submitted
separately; if submitted separately, it shall be made available to the City or its
Financial Advisor prior to the opening of the bids and shall be accompanied by instruc-
tions from the bank on which drawn which authorize its use as a Good Faith Deposit by the
bidders named therein. Unless otherwise stipulated, the Good Faith Deposit will be
applied to the purchase price on the date of delivery of the Bonds.
Financial Advisor's Right to Bid:
The City hereby authorizes Underwood, Neuhaus & Co. Incorporated, the City's
Financial Advisor, to bid on the Bonds.
DELIVERY AND ACCOMPANYING DOCUMENTS
Printed Bonds:
The City will furnish printed Bonds on lithographed borders, which will be executed
by the facsimile signatures of the Mayor and City Secretary of the City and by the manual
signature of the Comptroller of Public Accounts of the State of Texas. The Bonds will he
in $5,000 denominations and in coupon farm without privilege of registration.
CUSIP Numbers:
It is anticipated that CUSIP identification numbers will be printed on the Bonds, but
neither the failure to print such number on any Bond nor any error with respect thereto
shall constitute cause for failure or refusal by the Underwriter to accept delivery of and
pay for the Bonds in accordance with the aforementioned bid terms. All expenses relating
to the printing of CUSIP numbers on the Bonds shall be paid for by the City; however,
payment of the CUSIP Service Bureau charge for the assignment of the numbers shall be the
responsibility of the Underwriter.
ii
Delivery :
The Bonds will be tendered for delivery to the Underwriter at any hank in Austin,
Texas. Payment for the Bonds, including application of the Good Faith Deposit, must be
made in federal funds for immediate and unconditional credit to the City or as otherwise
directed by the City. The Underwriter will be given six business days' notice of the date
fixed for delivery of the Bonds. It is anticipated that delivery can be made on or about
August 12, 1982, but if for any reason the City is unable to make delivery by September
13, 1982, then the City shall immediately contact and offer to allow the Underwriter to
extend for an additional thirty days the obligation to take up and pay for the Bonds. If
the Underwriter does not so elect within five days thereafter, the Good Faith Deposit will
be returned, and both the City and the Underwriter shall be relieved of further
obligation.
Conditions to Delivery:
The obligation to take up and pay for the Bonds is subject to the Underwriter's
receipt of the approving legal opinions, and the no-litigation certificate, all as
described below, and the nonoccurence of the events described below under the caption "No
Material Adverse Change".
Legal Opinions:
The City will furnish the Underwriter a transcript of certain certified proceedings
held incident to the authorization and issuance of the Bonds, including a certified copy
of the unqualified approving opinion of the Attorney General of Texas, as recorded in the
Bond Register of the Comptroller of Public Accounts of the State of Texas, to the effect
that the Bonds are valid and binding obligations of the City under the Constitution and
laws of the State of Texas. The City will also furnish the approving legal opinion of
Messrs. Vinson & Elkins, Bond Counsel, to the effect that, based upon an examination of
such transcript, the Bonds are valid and binding obligations of the City under the Consti-
tution and laws of the State of Texas and to the effect that the interest on the Bonds is
exempt from all present federal income taxes under existing statutes, regulations,
published rulings and court decisions.
The opinion of Bond Counsel is expected to be reproduced on the back panel of the
Bonds over a certification by facsimile signature of the City Secretary of the City,
attesting that the legal opinion was dated as of date of the delivery of and payment for
the Bonds and that the copy is a true and correct copy of the original opinion. The
failure to print such legal opinion on any Bond shall not constitute cause for a failure
or refusal by the Underwriter to accept delivery of and pay for the Bonds.
Messrs. Vinson & Elkins did not take part in the preparation of the Preliminary
Official Statement nor has such firm undertaken to independently verify any of the infor-
maton contained therein, except that, in their capacity as Bond Counsel, such firm has
reviewed the information concerning the description of the Bonds appearing therein to
verify that such description conforms to the provisions of the Bond Ordinance.
No-Litigation Certificate:
The Council will furnish to the Underwriter a certificate, dated as of the date of
delivery of the Bonds, executed by both the Mayor and City Secretary, to the effect that
no litigation of any nature is then pending or threatened, either in state or federal
courts, contesting or attacking the Bonds; restraining or enjoining the issuance, execu-
tion, or delivery of the Bonds; affecting the provisions made for the payment of or
security for the Bonds; in any manner questioning the authority or proceedings for the
issuance, execution, or delivery of the Bonds; or affecting the validity of the Bonds or
coupons.
No Material Adverse Change:
The obligations of the Underwriter to take up and pay for the Bonds and of the City to
deliver the Bonds, are subject to the condition that, up to the time of delivery of end
receipt of payment for the Bonds, there shall have been no material adverse change in the
affairs of the City subsequent to the date of sale from that set forth in the Preliminary
Official Statement, as it may have been supplemented or amended through the date of
delivery.
iii
GENERAL CONSIDERATIONS
Certification as to Official Statement:
At the time of payment for and delivery of the Bonds, the City will furnish the
Underwriter a certificate executed by the Mayor, City Secretary and the City Manager of
the City, acting in their official capacities, to the effect that to the best of their
knowledge and belief: (a) the descriptions and statements of or pertaining to the City in
its Preliminary and final Official Statements, on the respective dates of such statements,
on the date of sale of the Bonds and the award of sale thereof, and on the date of
delivery of the Bonds, were and are true and correct in all material respects; (b) insofar
as the City and its affairs, including its financial affairs, are concerned, such
Preliminary and final Official Statements did not and do not contain an untrue statement
of a material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein, in the light of the circumstances under which
they were made, not misleading; and (c) insofar as the descriptions and statements,
including financial data contained in such Preliminary and final Official Statements, of
or pertaining to entities other than the City and their activities are concerned, such
statements and data have been obtained from sources which they believe to be reliable and
that they have no reason to believe that they are untrue in any material respect.
Official Statement:
Upon the award of sale of the Bonds, the Preliminary Official Statement will be
amended to conform to the terms of the Underwriter 's bid and, if necessary, to make other
changes. In connection therewith, the Underwriter will be required to furnish information
concerning the initial resale offering prices and yields of the Bonds as well as the names
of the members of the syndicate. The Underwriter will he furnished with up to fifty
copies of the Official Statement within ten business days from the date of award of sale
of the Bonds or at such later date as may be mutually satisfactory, but in no event later
than the date of delivery of the Bonds. Additional copies will be made available at the
Underwriter's request and expense. The City assumes no responsibility or obligation for
the distribution or delivery of any copies of the Official Statement to anyone other than
the Underwriter.
Additional Copies:
Additional copies of this Official Notice of Sale, the Official Bid Form and the
Preliminary Official Statement may be obtained from Underwood, Neuhaus & Co. Incorporated,
724 Travis, Houston, Texas 77002.
Tom Reid, Mayor
City of Pearland, Texas
June 28, 1982
iv
PRELIMINARY OFFICIAL STATEMENT DATED JUNE 28, 1982
This Preliminary Official Statement is subject to completion and amendment and is
J.,,, intended solely for the solicitation of initial bids to purchase the Bonds.
01 u Upon the sale of the Bonds, the Official Statement will be completed
0- and delivered to the Purchaser.
m f0
c,
°-
iL
THE ISSUANCE OF THE BONDS IS SUBJECT TO THE OPINION OF BOND COUNSEL TO THE EFFECT
THAT INTEREST ON THE BONDS IS EXEMPT FROM FEDERAL INCOME TAXATION
t o UNDER EXISTING STATUTES, REGULATIONS, PUBLISHED RULINGS AND COURT DECISIONS.
•H
4
O 4
c $6,100,000
T o
7 01, CITY OF PEARLAND
O 0
4
"1'J (A political subdivision of the State of Texas,
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c located within Brazoria and Harris Counties)
4- w
O a PERMANENT IMPROVEMENT BONDS
cco SERIES 1982
M
Principal and interest payable at the Pearland State Bank, Pearland, Texas, or at a
�� bank to be designated by the Underwriter. Interest is payable March 1 , 1983 (eight-month
coupon) and each September 1 and March 1 thereafter until the earlier of maturity or
c j redemption. The Bonds are issued in $5,000 denominations and are not registrable.
c g
0
°; MATURITY SCHEDULE
•� m
..L.! R, Dated: July 1 , 1982 Due: March 1
- 0
Initial Initial
t+, Amount Maturity Coupon Yield(a) Amount Maturity Coupon Yield(1 )
a•u $100,000 1984 o a $450,000 1991
150,000 1985 500,000 1992(b)
g 175,000 1986 550,000 1993(b)
225,000 1987 650,000 1994(b)
2 m 300,000 1988 750,000 1995(b)
c.t 350,000 1989 750,000 1996(b)
tu 0 400,000 1990 750,000 1997(b)
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o c
C a 4)
e (a) The initial yield represents the initial offering yield to the public, which is the
•-1 responsibility of the Underwriter, and which may subsequently be changed.
j•4 (b) The Bonds maturing March 1 , 1992 through 1997, both inclusive, are subject to
c 7 redemption, at the option of the City, at the par value thereof, plus accrued
interest, as a whole (or if in part, in inverse numerical order) on March 1 , 1991 , or
e°, on any interest payment date thereafter.
o m
++ u
° The $6,100,000 Permanent Improvement Bonds, Series 1982 (the "Bonds") constitute the
c. i entire amount of bonds authorized by the City of Pearland, Texas (the "City") , at an
�▪ -9 election held within the City on May 15, 1982. The Bonds, when issued, will constitute
valid and binding obligations of the City, payable as to principal and interest from the
Lr) • proceeds of a continuing, direct annual ad valorem tax levied, within the limits
o c t prescribed by the Constitution and laws of the State of Texas, against taxable property
u n within the City.
co 0
w •-, m
o The Bonds are offered for delivery, when, as and if issued by the City and accepted
r,..• by the Underwriter, subject to the approval of the Attorney General of Texas and the
approval of certain legal matters by Messrs. Vinson & Elkins, Bond Counsel. Delivery of
..9 g' •.(4 the Bonds is expected on or about August 12, 1982.
a
•-• 0 O.
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67
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TABLE OF CONTENTS
Page
USE OF INFORMATION IN OFFICIAL STATEMENT 3
OFFICIAL STATEMENT SUMMARY 3
SALE AND DISTRIBUTION OF THE BONDS 4
Award and Marketing of the Bonds 4
Registration and Qualification of Bonds for Sale 4
Municipal Bond Ratings 4
PRO-FORMA DEBT SERVICE SCHEDULE 4
THE BONDS 5
Description 5
Source of Payment 5
Authority for Issuance 5
Future Bonds 5
Use of Bond Proceeds 5
Eligibility to Secure Public Funds in Texas 6
No Arbitrage 6
Bondholders' Remedies 6
DEBT STATEMENT 7
General 7
Bonded Indebtedness 7
Estimated Overlapping Debt 7
Debt Ratios 7
TAX DATA 8
General B
Authority for Ad Valorem Taxation B
Historical Analysis of Ad Valorem Taxation 10
Estimated Overlapping Taxes 11
Sales Tax 11
SELECTED FINANCIAL DATA 12
General 12
Comparative Fund Balance of Major Funds 12
Historical Operations of the City's General Fund 12
Financial Statements 12
ADMINISTRATION OF THE CITY 13
Mayor and City Council 13
Administration 13
Consultants 14
Pension Fund 14
LEGAL MATTERS 14
Legal Opinion 14
No-Litigation Certificate 15
SOURCES OF INFORMATION 15
General 15
Updating of Official Statement 15
Certification of Official Statement 15
APPENDIX A - Economic and Demographic Characteristics
APPENDIX B - Financial Statements of the City
2
USE OF INFORMATION IN OFFICIAL STAILMLNT
No dealer, broker, salesman or other person has been authorized to give any informa-
tion or to make any representations other than those contained in this Official Statement,
and if given or made, such other information or representations must not he relied upon as
having been authorized by the City. This Official Statement is not to be used in an offer
to sell or the solicitation of an offer to buy in any state in which such offer or solici-
tation is not authorized, or in which the person making such offer or solicitation is not
qualified to do so or to any person to whom it is unlawful to make such offer or solicita-
tion. Any information and expressions of opinion herein contained are subject to change
without notice, and neither the delivery of this Official Statement nor any sale made
hereunder shall, under any circumstances, create any implication that there has been no
change in the affairs of the City or other matters described herein since the date hereof.
OFFICIAL STATEMENT SUMMARY
The following material is qualified in its entirety by the detailed information and
financial statements appearing elsewhere in this Official Statement, reference to which is
made for all purposes.
- General -
The Issuer The City of Pearland, located in Brazoria and Harris
Counties, Texas.
The Bonds $6,100,000 Permanent Improvement Bonds, Series 1982, dated
July 1 , 1982, maturing March 1 , 1984 through 1997, both
inclusive. Interest due March 1 , 1983, and semi-annually
thereafter until the earlier of maturity or redemption.
Bonds maturing on or after March 1 , 1992, are subject to
redemption on March 1 , 1991 , or on any interest payment
date thereafter, at par, plus accrued interest. Principal
and interest payable at the Pearland State Bank, Pearland,
Texas, or at a bank to be designated by the Underwriter.
Source of Payment Principal of and interest on the Bonds are payable solely
from the proceeds of an annual ad valorem tax levied,
within the limits prescribed by the Constitution and laws
of the State of Texas, against taxable property within the
City.
Use of Proceeds Water storage tanks, sewer system, street, and drainage
improvements, constructing a library and community complex
and costs of issuance.
Payment Record The City has never defaulted.
Bond Ratings Moody 's Investor's Service, Inc. " If
Standard & Poor's Corporation
Population 14,000 (1982 Estimate)
- Financial Highlights -
(Unaudited)
1981 Assessed Valuation (100% of Estimated Market Value) $329,420,800
1982 Estimated Assessed Valuation (100% of Estimated Market Value) $371 ,000,000
Bonded Indebtedness
Outstanding City Debt (as of May 31 , 1982) $ 5,256,000
The Bonds $ 6, 100,000
Direct Debt $ 11 ,356,000
Estimated Overlapping Debt $ 7,351 ,756
Direct and Estimated Overlapping Debt $ 18, 707, 756
Interest & Sinking Fund (as of May 31 , 1982) $ 373,705
Debt Service Requirements (assuming 12% on the Bonds) :
Average (1983/1997) $ 1 ,400,431
Maximum (1989) $ 1 , 513,765
of 1982
of 1981 Estimated
Debt Ratios: Assessed Value Assessed Value Per Capita
Direct Debt • 3.4S% 3.06% $ 811
Direct and Estimated Overlapping Debt 5.68% 5.04% $1 ,336
Tax Collections:
Arithmetic Average, Fiscal Years ( 1977/1981 ) - Current year 96.46%
Current and prior years 99.36%
3
SALE AND DISTRIBUTION OF THE BONDS
Award and Marketing of the Bonds:
After requesting competitive bids for the Bonds, the City accepted the bid resulting
in the lowest net interest cost, which bid was tendered by
(the "Underwriter") , to purchase the Bonds hearing the coupon rates
shown under 'MATURITY SCHEDULE' , at a price of the par value thereof plus a cash premium
of $ , plus accrued interest to the date of delivery, which resulted in a
net effective interest rate of % as calculated pursuant to Article 717k-2,
Vernon's Texas Civil Statutes. The City has no understanding with the Underwriter
regarding the reoffering yields or prices of the Bonds, and has no control over trading of
the Bonds after their initial sale by the City. Information concerning reoffering yields
or prices is the responsibility of the Underwriter.
Registration and Qualification of Bonds for Sale:
No registration statement relating to the Bonds has been filed with the Securities
and Exchange Commission under the Securities Act of 1933, as amended, in reliance upon the
exemptions provided thereunder. The Bonds have not been registered or qualified under the
Securities Act of Texas in reliance upon various exemptions contained therein; nor have
the Bonds been registered or qualified under the securities act of any jurisdiction. The
City assumes no responsibility for registration or qualification of the Bonds under the
securities laws of any jurisdiction in which the Bonds may be offered, sold, or otherwise
transferred. This disclaimer of responsibility for registration or qualification for sale
or other disposition of the Bonds shall not be construed as an interpretation of any kind
with regard to the availability of any exemptions from securities registration or qualifi-
cation provisions.
Municipal Bond Ratings:
Applications have been made to Moody 's Investor's Service, Inc. and to Standard &
Poor's Corporation for municipal bond ratings, and ratings of " " and " ", respec-
tively, have been assigned to the Bonds. An explanation of the significance of such
rating may be obtained from the companies furnishing the ratings. The ratings reflect
only the respective views of such organizations and the City makes no representation as to
the appropriateness of the ratings.
There is no assurance that such ratings will continue for any given period of time or
that they will not be revised or withdrawn entirely by either or both of such rating or-
ganizations, if, in their sole judgment, circumstances so warrant. Any such revision or
withdrawal may have an effect on the market price of the Bonds.
PRO-FORMA DEBT SERVICE SCHEDULE
The following sets forth the principal and interest requirements on the City 's out-
standing parity bonds and, assuming 12% interest, that estimated on the Bonds:
Outstanding Bonds
Fiscal Year (Principal and The Bonds Total Debt
Ending 9-30 Interest) Principal Interest Service
1983 $ 565,288 $ 854,000 $ 1 ,419,288
1984 564,808 $ 100,000 726,000 1 ,390,808
1985 563,412 150,000 711 ,000 1 ,424,412
1986 565,755 175,000 691 ,500 1 ,432,255
1987 562,051 225,000 667,500 1 ,454,551
1988 563,389 300,000 636,000 1 ,499,389
1989 566,765 350,000 597,000 1 ,513,765
1990 557,214 400,000 552,000 1 ,509,214
1991 542,889 450,000 501 ,000 1 ,493,889
1992 527,491 500,000 444,000 1 ,471 ,491
1993 511 ,002 550,000 381 ,000 1 ,442,002
1994 406,142 650,000 309,000 1 ,365, 142
1995 394,012 750,000 225,000 1 , 369,012
1996 277,500 750,000 135,000 1 , 162,500
1997 263,750 750,000 45,000 1 ,058,750
$7,431 ,468 $6,100,000 $7,475,000 $21 ,006,468
Average Annual Requirements - 1983/1997 $1 ,400,431
Maximum Annual Requirements - 1989 1 , 513,765
4
•
TI-IF BONDS
Description:
The Bonds are dated July 1 , 1982, and bear interest from such date at the rates
specified under "MATURITY SCHEDULE", which interest is payable on March 1 , 1983, and each
September 1 and March 1 thereafter until the earlier of maturity or redemption. The Bonds
maturing March 1 , 1984 through 1997, both inclusive, ore issued as coupon bonds in the
denomination of $5,000 each, end are not registrable. The Bonds maturing March 1 , 1992
through 1997, both inclusive, are subject to redemption, at the option of the City, at the
par value thereof, plus accrued interest, as a whole (or if in part, in inverse numerical
order) on March 1 , 1991 , or on any interest payment date thereafter. Principal of and
interest on the Bonds are payable at Pearland State Bank , Pearland, Texas, or at a bank to
be designated by the Underwriter.
The Bonds are bearer bonds and are fully negotiable. Safekeeping must be employed by
the Bondholder. In accordance with Article 715a, Vernon's Texas Civil Statutes, lost,
stolen, destroyed or mutilated Bonds may be replaced by the City upon request of the Bond-
holder and the furnishing of indemnity to the satisfaction of the City, proof of owner-
ship, explanation of loss and costs incurred by the City. Such replacement Bonds are
subject to the approval of the Attorney General of Texas. Replacement is a time-consuming
and expensive process.
Source of Payment:
The Bonds, when issued, will constitute valid and binding obligations of the City
and, together with other outstanding debt on a parity with the Bonds (the "Outstanding
Bonds") , are payable as to principal and interest from the proceeds of an annual ad
valorem tax levied, within the limits prescribed by the Constitution and laws of the State
of Texas, against taxable property within the City.
The Council covenants in the ordinance authorizing issuance of the Bonds (the "Bond
Ordinance") that while the Bonds or any part of them are outstanding, it will levy and
assess, considering delinquencies and costs of collection, an annual ad valorem tax, with-
in the limits prescribed by the Constitution and laws of the State of Texas against
taxable property within the City, which will be sufficient to pay the interest and
principal, when due, on the Bonds, and will undertake collection of such tax.
Authority for Issuance:
The Bonds are issued pursuant to authority granted by the electorate at an election
held in the City on May 15, 1982, at which the voters approved the following ad valorem
tax bond propositions:
Bond Propositions Votes Cast
Amount Purpose For Against
$1 ,500,000 Water Storage Tanks 624 107
1 ,000,000 Sewer System Improvements 605 121
900,000 Library 539 196
700,000 Community Complex 394 326
1 ,000,000 Street Improvements 587 143
1 ,000,000 Drainage Improvements 608 . 123
$6, 100,000
Future Bonds:
Following the issuance of the Bonds, there will remain no authorized but unissued
bonds. The City currently has no plans to authorize and issue additional bonds, however,
nothing herein should be construed as precluding the right of the City to seek such
approval and issue such authorized debt in the future.
Use of Bond Proceeds:
The Bonds are being issued to provide funds for those projects shown above and to pay
the cost of issuance of the Bonds, including the Bond Counsel 's fee, the Financial
Advisor's fee and other administrative costs incurred.
5
Eligibility to Secure Public Funds in Texas:
Article 717k-6, Vernon's Texas Civil Statutes, which applies to the Bonds, provides in
part:
"All bonds. . .are legal and authorized investments for banks, savings banks, trust
companies, building and loan associations, savings and loan associations,
insurance companies, fiduciaries, and trustees, and for the sinking fund of
cities, towns, villages, school districts, and other political subdivisions or
public agencies of the State of Texas. Said bonds also are eligible to secure
deposits of any public funds of the state of any political subdivision or public
agency of the state, and are lawful and sufficient security for the deposits to
the extent of their market value, when accompanied by any unmatured coupons
attached to the bonds."
No representation is made with respect to the laws of states other than Texas as to
whether the Bonds are legal investments for various institutions or purposes in those
states.
No Arbitrage:
The City certifies that based upon all facts and estimates now known or reasonably
expected to be in existence on the date the Bonds are delivered and paid for, the City
reasonably expects that the proceeds of the Bonds will not be used in a manner that would
cause the Bonds or any portion of the Bonds to be an "arbitrage bond" under Section
103(c)(2) of the Internal Revenue Code of 1954, as amended, and the regulations prescribed
thereunder. Futhermore, all officers, employees and agents of the City are authorized and
directed to provide certifications of facts and estimates that are material to the reason-
able expectations of the City as of the date the Bonds are delivered and paid for. In
particular, all or any officers of the City are authorized to certify for the City the
facts and circumstances and reasonable expectations of the City on the date the Bonds are
delivered and paid for regarding the amount and use of the proceeds of the Bonds. More-
over, the City covenants that it shall make such use of the proceeds of the Bonds, regu-
late investments of proceeds of the Bonds and take such other and further actions as may
be required so that the Bonds shall not be "arbitrage bonds" under Section 103(c)(2) of
the Internal Revenue Code of 1954, as amended, and regulations prescribed from time to
time thereunder.
Bondholders' Remedies:
The Bond Ordinance provides that while any part of the Bonds are outstanding there
shall be levied, assessed and collected an ad valorem tax, within the limits prescribed by
law, against taxable property within the City, sufficient to pay principal of and interest
on the Bonds when due and to pay the expenses necessary in collecting such taxes. In the
event the City defaults on the payment of the principal of or interest on any of the Bonds
when due, fails to make required payments into the Bond Fund or any other fund, or de-
faults in the observance or performance of any of the covenants set forth in the Bond
Ordinance, any Bondholder shall be entitled at any time to seek a writ of mandamus from a
court of competent jurisdiction requiring the City to observe the covenants, obligations,
or conditions contained in the Bond Ordinance; however, the mandamus remedy may be imprac-
ticable and difficult to enforce and may have to be relied upon from year to year.
The Bond Ordinance does not specifically provide for other remedies to a Bondholder
in the event of default nor does it provide for the appointment of a trustee to protect a
Bondholder upon the occurrence of such a default. Further, the Bondholders cannot
themselves foreclose on or sell property within the City in order to pay the principal of
or interest on the Bonds. While Bondholders could obtain a judgment against the City,
such a judgment could not be enforced by a direct levy and execution against property
within the City. The enforceability of the rights and remedies of the Bondholders may
further be limited by laws relating to bankruptcy, reorganization or other similar laws of
general application affecting the rights of creditors of political subdivisions such as
the City. In addition, court decisions other than in Texas have upheld the right of a
state, in appropriate emergency circumstances and in the exercise of the state's police
power, to modify the terms and conditions of contractual covenants relating to the
payments of indebtedness of a political subdivision. Such an exercise of the state's
police power could further serve to limit the enforceability of the rights and remedies of
Bondholders.
6
DEBT STATEMENT
General:
The following tables end calculations relate to the Bonds end other debt of the City.
In addition to the Outstanding Bonds, the City has also issued certain revenue bonds and
has incurred contractual and other indebtedness and liabilities. Various other political
subdivisions of government within which the City is located which overlap all or a portion
of the area of the City, are also empowered to incur debt to be paid from revenues raised
or to be raised through taxation.
Bonded Indebtedness:
1981 Assessed Valuation (100% of Estimated Market Value) $329,420,800
1982 Estimated Assessed Valuation (100% of Estimated
Market Value) $371 ,000,000 (a)
Direct Debt
Outstanding Bonds (as of May 31 , 1982) $ 5,256,000
The Bonds 6,100,000
Total Direct Debt
$ 11 , 356,000
Interest & Sinking Fund (as of May 31 , 1982) $ 373,705
(a) Provided by the City 's Tax Assessor/Collector for informational purposes only; does
not represent a final assessed valuation since the Appraisal Review Board may
determine to raise or lower all or a part of such valuation. See "TAX DATA -
Taxation Procedures".
Estimated Overlapping Debt:
The following table indicates the indebtedness, defined as outstanding bonds payable
from ad valorem taxes, of governmental entities within which the City is located and the
estimated percentages and amounts of such indebtedness attributable to taxable property
within the City. Such figures do not indicate the tax burden levied by the applicable
taxing jurisdictions for operation and maintenance purposes.
Debt as of Overlapping
Jurisdiction May 31 , 1982 Percent Amount
Brazoria County $ 2,385,000 4.04 96,354
Clear Creek Independent
School District 44,585,000 1 .51 673,234
Harris County 337,750,000 .07 236,425
Harris County Flood Control Dist. 187,155,000 .07 131 ,009
Harris County Hospital Dist. -0- .07 -0-
Pearland Independent School District 9,250,000 66.58 6,158,650
Port of Houston Authority 60, 120,000 .07 56,084
Estimated Overlapping Debt $ 7,351 ,756
The City $11 ,356,000
Total Direct & Estimated Overlapping Debt $18,707,756
Debt Ratios:
Direct and Estimated
Direct Debt Overlapping Debt
Per 1982 Estimated Assessed Valuation ($371 ,000,000). . . 3.06% 5.04%
Per 1981 Assessed Valuation ($329,420,800) 3.45% 5.68%
Per Capita (14,000 1982 Estimate) $811 $1 ,336
7
TAX DATA
General:
One of the City's sources of operational revenue and its principal source of funds
for ad valorem tax debt service payments is from the receipts from ad valorem taxation.
The following is a recapitulation of (1 ) the authority for taxation, including methodo-
logy, limitations, remedies and procedures; (2) historical analysis of collection and
trends of tax receipts and provisions for delinquencies; and (3) an analysis of (a) the
current tax base, (b) the principal taxpayers and (c) other ad valorem taxation that may
compete with the City's tax collections. Additionally, sales tax authority and collec-
tions are analyzed as well as payments received in lieu of taxes for Industrial District
Contracts.
Authority for Ad Valorem Taxation:
Following is a discussion of ad valorem taxation under Texas law. Recently enacted
changes to the law, especially the State Property Tax Code (the "Tax Code"), will have
varying but significant effects upon the existing tax methodology and procedures discussed
below. The City is presently unable to assess the full impact of such changes upon the
City's ad valorem tax procedures, nor can the City predict the future possibility of
further amendments or revisions to the Tax Code.
- Tax Rate Limitations -
Article XI, Section 5 of the Texas Constitution, provides for an overall limitation
for Home Rule Cities of $2.50 per $100 assessed valuation. The Attorney General of Texas
follows a policy, with respect to Home Rule Cities which have such a $2.50 limitation, of
approving ad valorem tax bonds only to the extent that all of such city's ad valorem tax
debt can be serviced by a tax rate of $1.50 at 90% collection. (Note that the 1981 tax
rate, excluding the tax bond debt service portion, is $.177)
- Property Subject to Taxation -
Except for certain exemptions provided by Texas law, all the property in the City,
real or personal, is subject to taxation by the City. Principal categories of exempt
property are property of a religious, educational or charitable character; property of the
United States of America, the State of Texas or one of their agencies; property of
disabled veterans only to the extent of $3,000 of taxable valuation; and residential
homesteads of persons over 65 years, to the extent the governing body of the political
subdivision granting an exemption deems it advisable to exempt such homestead. The
Council presently exempts from taxation up to $12,500 assessed valuation of residential
homesteads to persons over 65 years of age.
•
Voters of the State of Texas cast ballots on November 3, 1981, approving a state
constitutional amendment which permits local governments the option of granting homestead
exemptions of up to 40% of market value of the 1982-1984 tax years, up to 30% of market
value for the 1985-1987 tax years, and up to 20% of market value thereafter.
- City's Rights in the Event of Tax Delinquencies -
The City has a lien granted by statute for unpaid taxes on real property which is
discharged upon payment. Thereafter, no lien exists in favor of the City until it again
levies taxes. Effective, beginning with the 1981 Tax Roll and in the event a taxpayer
fails to make timely payment of taxes due to the City on real property, a penalty of 6% of
unpaid taxes is incurred in February and 1% is added monthly until the penalty reaches
10%, after which it becomes a flat 12%. In addition, 12% interest is charged on the
unpaid balance; likewise, the City may file suit for the collection thereof and may
foreclose such lien in a foreclosure proceeding. The City may also impose an additional
penalty to defray costs of collection by a Tax Attorney, not to exceed 15% of the total
due. The property subject to the City's lien may be sold, in whole or in parcels,
pursuant to court order to collect the amounts due. A person's personal property is
subject to seizure for the payment of a delinquent tax, penalty, and interest he owes the
state or a taxing unit on property.
8
-Taxation Procedures -
As of January 1 , 1982, the appraisal of property within the City is the responsibility
of the Brazoria County Appraisal District with county-wide jurisdiction (the "Appraisal
District"). Prior to January 1 , 1982, appraisal of property within the City was the
responsibility of the City's Tax Assessor-Collector. The Appraisal District operates
under rules adopted by the State Property Tax Board (the "Tax Board"). The Tax Board,
appointed by the Governor, began operation on January 1 , 1980. Appraisal Districts within
each county also began operation at that time. The majority of the directors of the
Appraisal District may be selected by taxing entities other than the City.
The Appraisal District is required to review all property within the City at least
every four years. The Appraisal District is required to assess all property within the
Appraisal District on the basis of 100% of its appraised value and is prohibited from
applying any assessment ratios. By August 1 , or as soon as possible thereafter, the City
must adopt a tax rate for the current year. Taxes are due October 1 and become delinquent
after January 31 of the following year. No discount for early payment is offered.
Partial payments may be accepted if requested by the taxpayer and approved by the City.
If the effective tax rate, excluding taxes for bonds and other contracted obligations, for
the current year, exceeds the rate for the previous year by more than 8%, the qualified
voters of the City may petition for an election to determine whether to limit the increase
of the tax rate to no more than 8% for the following year. The City is required to hold
public hearings to permit voter discussion should the effective tax rate be increased by
more than 3% above the previous year.
Under Texas law, the Appraisal District is under an obligation to assess all property
for taxation which has not been rendered for taxation by the owner and to present his
assessments along with any objections to renditions to a seven-member Appraisal Review
Board, each of whom has resided within the Appraisal District for two years, and who have
been appointed by the Appraisal District's Board of Directors. The Appraisal Review Board
has the ultimate responsibility of equalizing the value of all comparable taxable property
within the Appraisal District; however, any owner who has rendered his property may appeal
the decision of the Appraisal Review Board by filing suit in district court in Brazoria
County, within 45 days from the date the tax roll is approved. In the event of such suit,
the value of the property is determined by the court, or by a jury if requested by the
owner, which value as so determined is binding on the City for the tax year in question
and the succeeding year, except for subsequent improvements.
A city, or other taxing unit, may challenge the appraisals assigned categories of
property within its jurisdiction under certain limited circumstances. The City may also
sue the Appraisal District to compel it to comply with the Tax Code. It is not expected
that Appraisal District procedures will affect the ability of the City to adjust its tax
rate so that it may levy and collect taxes sufficient to meet its obligations.
9
Historical Analysis of Ad Valorem Taxation:
- Collection Ratios -
Tax Rate Per % Tax Collections
Tax Assessed $100 Assessed Adjusted Current Current & Fiscal Year
Year Valuation Valuation Tax Levy •Year Prior Years Ending 9-30
1976 $ 72,218,028 $1.300 $ 940,543 97.57% 101 .86% 1977
1977 79,377,746 1. 300 1,038,667 95.09 96.74 1978
1978 137,961 ,516 (a) .950 1 ,310,634 96.65 100.11 1979
1979 161,760,250 .950 1,536,722 96.47 99.02 1980
1980 176,407,794 1 .065 1 ,870,219 96.52 99.05 1981
1981 329,420,800 (b) .620 2,042,409 96.11 98.37 1982 (c)
(a) Revaluation
(b) Increase in assessment ratio from 60% to 100%
(c) Collections as of 5-31-82
- Tax Rate Distribution -
Tax Year
1981 1960 1979 1976 1977 1976
General Fund $0.443 $0.773 $0.658 $0.616 $0.932 $1 .009
Interest &
Sinking Fund 0.177 .292 .292 .334 .368 .291
Total 0.620 $1 .065 $0.950 $0.950 $1 .300 $1 .300
- Tax Base Distribution -
Type of Property 1981 Tax Roll 1980 Tax Roll
Land $ 82,015,472 (24.12%) $ 49,075,880 (26.84%)
Improvements 178,236,708 (52.42%) 99,723,873 (54.55%)
Personal 79,750,769 (23.46%) 34,015,796 (18.61%)
Total $340,002,949 $182,815,549
Less Exemptions 10,582,149 6,407,755
Total $329,420,800 $176,407,794
- Principal Taxpayers -
Assessed Valuation
Taxpayer Type of Property 1981 Tax Roll 1980 Tax Roll
Southwestern Bell Telephone Utility $ 5,817,435 $ 3,273,655
Capitol Pipe and Steel Products Steel Pipe Manufacturing 5,805,269 3,868,224
Penrod Drilling Co. Oilfield Equipment 4,240,000 -x-
Gaido-Lingle Company Pipe Coating 4,186,201 1 ,498,708
Meadow Creek Village Apartments 3,839,410 1 ,157,997
Pearland State Bank Bank 3,831 ,939 1 ,873,109
Hausman & Associates Apartments 3,822,735 2,274,835
Houston Helicopters Air Transport. 2,906,873 1 ,049,855
Chance Collar Inc. Oilfield Equipment. 2,732,543 -x-
K-Mart Inc. Department Store 2,682,680 -x-
C. H. Alexander Estate Commercial and Farmland -x- 1,230,655
Golfcrest Country Club Golf Course and Club -x- 1 ,199,736
Thomas A. Alexander Land -x- 1,079,344
Total Top Ten Taxpayers Assessed Valuation $39,865,085 $19,506,103
of Assessed Valuation to Respective Tax Roll 12.10% 10.49%
In
- Tax Adequacy -
Average Annual Debt Service Requirements (1903/1997,
assuming 12.00% interest rate on the Bonds) $1 ,400,431
Tax Rate of $0.045 per $100 assessed valuation against
the 1981 Assessed Valuation, at 95% collection, produces $1 ,408,274
Tax Rate of $0.040 per $100 assessed valuation against the
1982 Estimated Assessed Valuation, at 95% collection, produces $1 ,409,800
Maximum Annual Debt Service Requirements (in the year 1989
assuming 12.00% interest rate on the Bonds) $1 ,513,765
Tax Rate of $0.049 per $100 assessed valuation against
the 1981 Assessed Valuation, at 95% collection, produces $1 ,533,454
Tax Rate of $0.043 per $100 assessed valuation against the
1982 Estimated Assessed Valuation, at 95% collection, produces $1 ,515,535
Estimated Overlapping Taxes:
Under Texas law, if ad valorem taxes levied by a taxing authority become delinquent, a
lien is created upon the property which has been taxed, which lien is on a parity with any
tax lien on such property in favor of the City. In addition to ad valorem taxes required
to retire the aforementioned direct and estimated overlapping debt, certain taxing
jurisdictions including those mentioned above are also authorized by Texas law to assess,
levy, and collect sd valorem taxes for operation, maintenance, administrative and/or
general revenue purposes.
Set forth on the following page is an estimation of ad valorem taxes levied on a
$60,000 single-family residence by such jurisdictions, assuming the assessments are made
at their estimated basis of assessment. Such residence is further assumed to be located
within Brazoria County, wherein substantially all of the residential property within the
City is located. Actual tax billings will vary according to each jurisdiction's assessing
procedures and the following table does not purport to be an exact computation of such tax
levies. Furthermore, no recognition is given to local assessments for civic association
dues, fire department contributions, or other charges made by other than political
subdivisions.
Basis of Estimated 1981 Tax Estimated
Taxing Jurisdiction Assessment Ass 'd Value Rate/$100 1981 Tax Bill
The City 100% $60,000 $ 0.62 $ 372.00
Brazoria County 100% 60,000 .29 174.00
Drainage District 100% 60,000 .12 72.00
Pearland Independent
School District 100% 60,000 1 . 10 660.00
Estimated Total 1981 Tax Bill $ 1 ,278.00
Sales Tax:
- Authority -
The City has adopted the provisions of Article 1066c, Vernon's Texas Civil Statutes,
as amended, which grants the City the power to impose and levy a 1% sales tax. The City
may not pledge the proceeds from the Sales Tax as security for the Bonds.
- Collection history -
The State Comptroller, after deduction of a 2% service fee, remits the City's portion
of sales tax collections monthly. The following is an analysis of the collection history
of the City 's sales tax:
Ad Valorem Taxation Comparisons
Fiscal Year Sales Tax Equivalent Tax Rate % of Actual
Ended 9-30 Receipts Tax Year Equivalent Tax Levy
1977 $ 277,159 (1976) .384 29.47%
1978 360,449 (1977) .454 34.70%
1979 445,271 (1978) .323 36.74%
1980 863,670 (1979) .534 56.20%
1981 1,075,582 (1980) .612 57.47%
1982 (a) 799,710 (1981) .243 39. 16%
(a) Seven-month period ending May 31 , 1982.
11
.
SELECTED FINANCIAL DATA
General:
The following summaries have been extracted from the City 's annual financial
statements.
Comparative Fund Balance of Major Funds:
Balance at September 30
1981 1980 1979 1978 1977
General Fund $963,047 $584,453 $111 ,046 $154,106 $211 , 540
Interest and
Sinking Fund 190,733 143,144 110,812 68,937 67, 246
Historical Operations of the City's General Fund:
The following is a condensed statement of revenues and expenditures of the City's
General Fund for the past five fiscal years.
Fiscal Year Ended
9-30-81 9-30-80 9-30-79 9-30-78 9-30-77
Revenues
General Property Taxes $ 1,337,587 $ 1,052,754 $ 859,344 $ 720,814 $ 681,506
Penalties and Interest 42,212 35,440 17,658 9,145 13,350
Sales Taxes 1,075,582 863,670 455,271 360,449 277,159
Franchises 291,449 235,628 187,820 153,355 128,032
Licenses and Permits 64,775 67,875 118,175 130,615 99,316
Interest 142,007 60,957 25,581 18,710 11,848
Sanitation 397,446 368,199 318,809 274,791 197,055
Fines and Forfeitures 161,277 166,789 148,437 101,584 101,495
Miscellaneous 72,859 144,180 38,349 16,274 15,075
TOTAL $ 3,585,194 $ 2,995,492 $ 2,169,444 $ 1,785,737 $ 1,524,836
Expenditures
General Government $ 916,368 $ 756,226 $ 743,143 $ 648,421 $ 448,077
Police 728,066 608,329 558,715 391,877 366,864
Fire 55,163 49,485 43,517 32,983 36,408
Public Safety 212,360 181,144 141,994 129,553 105,055
Streets 487,515 412,668 414,711 310,356 266,964
Drainage 145,208 -0- -0- -0- -0-
Sanitation 478,065 387,905 311,258 265,710 183,664
Community Services 183,855 126,328 102,531 64,279 45,179
TOTAL $ 3,2061 600 $ 2,522,085 $ 2,315,869 $ 1,843,179 $ 1,452,211
Financial Statements:
A copy of the City's Financial Statements for the fiscal year ended
September 30, 1981, is attached hereto in the APPENDIX B. Copies of such statements for
preceding years are available, for a fee, upon request.
12
•
ADMINISTRATION Of !HE CITY
Mayor and City Council:
Policy-making and supervisory functions are the responsibility of and are vested in
the Mayor and City Council of the City, under provisions of the "Charter of the City of
Pear land" (the "Charter") approved by the electorate February 6, 1971 . The Council is
elected at large on the first Saturday in April. The Mayor and five Council members serve
three-year staggered terms. The Mayor is entitled to vote only in the event of a tie and
has no power to veto Council action. Members of the Council are described below:
Council Members (e) Period Served Term Expires Occupation
Tom Reid 9 years 1984 Shuttle Program Administrator
Mayor Rockwell International
Terry Gray 5 years 1983 Assistant Manager,
Mayor Pro Tem Southwestern Bell Telephone
Dennis M. Frauenberger (b) 1985 President, Climax Lubricants
Councilman & Equipment Co.
Charles Mack 3 years 1905 Supervisor, Ford Aerospace
Councilman & Comm. Corp.
Alfred E. Lentz 2 years 1983 Vice President,
Councilman Koehn Engineering Inc.
(a) Council Position 3 has been vacant since the resignation of Councilman Harry Farley,
the Council has called a special election for August 14, 1982, to fill the vacant
position.
(b) Mr. Frauenberger was elected April, 1982. However, he has served a previous term on
the Council from April, 1977, through April, 1980.
Administration:
Under provisions of the Charter, the Council enacts local legislation, adopts budgets,
determines policies and appoints the City Manager, who is charged with the duties of
executing the laws and administering the government of the City. As the chief executive
officer and head of the administrative branch of the City government, the City Manager is
given the power and duties to:
(1 ) Appoint and remove all department heads and all other employees in the
administrative service of the City and may authorize the head of a department to
appoint and remove subordinates in his respective department;
(2) Prepare the budget annually, submit it to Council, and be responsible for its
administration;
(3) Prepare and submit to Council a complete report on the finances and
administrative activities of the City;
(4) Keep Council advised of the financial condition and future needs of the City and
make appropriate recommendations; and
(5) Perform such other necessary duties as prescribed by the Charter or required by
Council.
Members of the administrative staff are described below:
Ronald Wicker (City Manager) - Mr. Wicker has served as City Manager since July, 1980. He
also served as Director of Planning and Transportation for the City from January ,
1977, to July , 1980. He has been in the city administration and planning fields for
approximately fifteen years with such cities as San Marcus, Midland, and Hurst,
Texas. Before that, he was in city engineering in San Marcos and Lubbock, Texas. He
received his Bachelor of Science in Industrial Arts degree from Southwest Texas State
College, San Marcos, Texas. He also studied architecture at Texas Technological
College, Lubbock, Texas. Mr. Wicker belongs to such organizations as the Texas City
Managers Association, International City Managers Association, City Planners
Association of Texas, American Planning Association, Institute for the Certification
of Engineering Technicians, and the Houston-Galveston Area Council.
13
Dorothy Thompson (Director of Finance) - Mrs. Thompson has served as City Treasurer since
1973 and now also serves as the Director of Finance as a result of a City Charter
Amendment on April 3, 1982. She has been employed by the City for 19 years and
received from The Municipal Finance Officers Association of the United States and
Canada a Certificate of Conformance in Financial Reporting for the City in 1976.
Dorothy Cook (City Secretary) - Mrs. Conk has been employed by the City for 19 years and
has served as City Secretary for 14 of those years. She was certified in 1975 through
the Institute of Texas Municipal Clerks, North Texas State University, Denton, Texas.
James 0. DeShazer (Tax Assessor/Collector) - Mr. DeShazer has served as Tax Assessor/
Collector since December, 1972. He is a member of Texas Association of Assessing
Officers and, through its educational program, has completed all courses toward state
certification. In December, 1978, he received his R. P. A. Designation (Registered
Professional Assessor) from the State of Texas Board of Tax Assessor Examiners. He
then received his C. T. A. (Certified Texas Assessor) on October 11 , 1980. He is a
licensed real estate broker with the State of Texas. Mr. DeShazer was also appointed
as Assistant City Manager in September, 1976.
Consultants:
The City has retained several consultants to perform professional services in
connection with the issuance of bonds, the independent auditing of its books and records
and other City activities. Several of these consultants are identified below:
Bond Counsel Messrs. Vinson & Elkins
Houston, Texas
Financial Advisor Underwood, Neuhaus & Co. Incorporated
Houston, Texas
Auditors Earl Lairson & Co.
(Certified Public Accountants) Houston, Texas
Pension Fund:
The City participates in the Texas Municipal Retirement System (TRMS) , en agency
operated by the State of Texas. Employees of municipal governmental entities who parti-
cipate in TMRS contribute a fixed percentage, currently 5% of their gross pay, and the
municipal employer contributes twice such sum to TMRS. The City 's current contribution
percentage is 4.52%. As employees leave municipal employment other than through
retirement, they may withdraw from TMRS those funds they contributed, but forfeit their
employer's contributions. Each municipal employer's requirements for current contribu-
tions are offset by the amounts of such forfeitures.
As of May 31 , 1982, the City employed 103 full-time employees and 17 part-time
employees. All full-time employees are covered by TMRS and the City 's contribution for
this fiscal year as of September 30, 1981 , amounted to approximately $51 , 141 after
deduction of offsetting forfeiture balances. Upon making its contribution to TMRS, the
City had an unfunded accrued liability for prior service benefits in the amount of
approximately $497,722. The liability far prior service benefits will be amortized over a
period of twenty-five years or less by contributions from the City which are a level
percentage of payroll.
LEGAL MATTERS
Legal Opinion:
The City will furnish the Underwriter a transcript of certain certified proceedings
had incident to the authorization and issuance of the Bonds, including a certified copy of
the unqualified approving opinion of the Attorney General of Texas, as recorded in the
Bond Register of the Comptroller of Public Accounts of the State of Texas, to the effect
that the Bonds are valid and binding obligations of the City under the Constitution and
laws of the State of Texas. The City will also furnish the approving legal opinion of
Messrs. Vinson & Elkins, Bond Counsel, to the effect that, based upon an examination of
such transcript, the Bonds are legal, valid and binding obligations of the City under the
Constitution and laws of the State of Texas and to the effect that the interest on the
Bonds is exempt from all present federal income taxes under existing statutes, regula-
tions, published rulings and court decisions.
Messrs. Vinson & Elkins did not take part in the preparation of the Preliminary
Official Statement nor has such firm undertaken to independently verify any of the infor-
mation contained herein, except that, in their capacity as Bond Counsel, such firm has
reviewed the information concerning the description of the Bonds appearing herein to
verify that such description conforms to the provisions of the Bond Ordinance.
14
No-Litigation Certificate:
The Council will furnish to the Underwriter a certificate, dated as of the date of
delivery of the Bonds, executed by both the Mayor and City Secretary to the effect that no
litigation of any nature is then pending or threatened, either in state or federal courts,
contesting or attacking the Bonds; restraining or enjoining the issuance, execution, or
delivery of the Bonds; affecting the provisions made for the payment of or security for
the Bonds; in any manner questioning the authority or proceedings for the issuance, execu-
tion or delivery of the Bonds; or affecting the validity of the Bonds or coupons.
SOURCES OF INFORMATION
General:
--The information contained in this Official Statement has been obtained primarily from
the City and from other sources believed to be reliable. However, no representation is
made as to the accuracy or completeness of the information derived from such other
sources. The summaries of the statutes, resolutions and other related documents are
included herein subject to all of the provisions of such documents. These summaries do
not purport to be complete statements of such provisions and reference is made to such
documents for further information.
Underwood, Neuhaus & Co. Incorporated was employed as Financial Advisor to perform
certain professional services for the City, for a fee to be computed on each separate
issuance of bonds, contingent upon such bonds actually being issued, sold and delivered.
The information contained in this Official Statement in the section entitled
"APPENDIX B - Financial Statements of the City" has been provided by Earl Lairson & Co. ,
Certified Public Accountants, and has been included herein in reliance upon their
authority as experts in the field of auditing and accounting.
Updating of Official Statement:
The City will keep this Official Statement current by amendment or sticker to reflect
material changes in the affairs of the City and, to the extent that information comes to
its attention, to the other matters described in this Official Statement, until the
delivery of the Bonds to the Underwriter. All changes in the affairs of the City and
other matters described in this Official Statement subsequent to the delivery of the Bonds
and all information with respect to the resale of the Bonds shall be the responsibility of
the Underwriter.
Certification of Official Statement:
At the time of payment for and delivery of the Bonds, the District will furnish the
Underwriter a certificate executed by the Mayor, City Secretary and City Manager of the
City acting in their official capacities, to the effect that to the best of their
knowledge and belief: (a) the descriptions and statements of or pertaining to the City in
its Preliminary and final Official Statements, on the respective dates of such statements,
on the dote of sale of the Bonds and the award of sale thereof, and on the date of
delivery of the Bonds, were and are true and correct in all material respects; (b) insofar
as the City and its affairs, including its financial affairs, are concerned, such
Preliminary and final Official Statements did not and do not contain an untrue statement
of a material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein, in the light of the circumstances under which
they were made, not misleading; and (c) insofar as the descriptions and statements,
including financial data other than the City and their activities are concerned, such
statements and data have been obtained from sources which they believe to be reliable and
that they have no reason to believe that they are untrue in any material respect.
This Official Statement was duly authorized and approved by the Mayor and City
Council of the City of Pearland, Texas, on the date specified on the front page hereof.
/s/ Tom Reid
Mayor, City of Pearland, Texas
ATTEST:
/s/ Dorothy Cook
City Secretary , City of Pearland, Texas
15
•
APPENDIX A
ECONOMIC AND DEMOGRAPHIC CHARACTERISTICS
Location:
The City is located in the northeast corner of Brazoria County bordering the City of
Houston to the north. The City is traversed by State Highway 35 and Farm-to-Market Road
518.
Economic Base:
Due to its proximity to Houston, the City has experienced continued residential,
commercial and light industrial development. Agriculture and mineral production also
remain a factor in the economy.
The following is a list of those manufacturers within the area who employ in excess
of 25, according to a Pear land Chamber of Commerce study.
Employer Product Exployees
McGinnis/Royce Mfg. Company Material handling equipment 216
Pauluhn Electric Company Industrial lighting fixtures 210
Chance Collar Company Oilfield Equipment 200
Energy Coatings Pipeline Coatings 185
Oilfield Pump & Equipment Co. Oilfield Equipment 185
Dresser Industries Offshore Oilfield Equipment 100
Maloney Crawford Chemical and water storage tanks,
oil and gas processing equipment 95
Kroger Company Grocers 90
Bell Bottom Foundations Building Contractors 76
Houston Helicopters Air Transport 75
Pear lend State Bank Complete banking facility 48
Dearman International , Inc. Manufacturers 45
Imperial Trucking Co. Transportation of goods 43
The Pear land Independent School District employs 464 people.
Education:
The City lies almost entirely within the Pear land Independent School District, whose
physical plant consists of four elementary schools, one middle school (5th & 6th grades),
one intermediate school (7th & 8th grades) , and one high school. All school buildings,
with the exception of the gymnasium, are climate controlled. All schools are accredited
by the Southern Association of Colleges and Schools and the Texas Education Agency.
Statistical Data:
- Building Permits -
(Source - City of Pear land)
Residential Commercial (1 ) Other Total
No. Value No. Value No. Value No. Value
1973 140 $ 5,253,000 20 $ 511,750 1311 $ 390,405 290 $ 6,155,155
1974 117 4,310,900 19 1 ,171 ,700 144 496,428 280 5,979,028
1975 237 9,501,800 170 2,844,800 156 1 ,142,600 563 13,489,200
1976 295 14,188,100 268 5,471 ,893 197 1 ,109,387 760 20,769,380
1977 386 21,489,824 31 2,759,699 282 3,514,385 698 27,763,908
1978 491 23,298,945 160 8,414,422 270 3,113,533 921 34,826,900
1979 207 13,024,664 36 7,150,700 386 2,167,264 629 22,342,628
1980 94 7,485,570 18 2,204,200 495 3,007,071 607 12,696,841
1981 67 5,950,754 21 7,589,359 359 8,613,123 447 22,153,236
(1) Includes Apartments
- Bank Deposits -
(Source - Texas Banking Red Book and Bank Officials)
12-30-1981 12-30-1980 12-30-1979 12-30-1978 12-31-1977 12-31-1976
Pearland State Bank $47,395,705 $42,743,614 $39,206,253 $30,934,734 $26,054,946 $21,862,714
First National Bank 21,624,253 17,991,068 15,628,262 10,102,027 5,402,427 2,156,448
Community Bank 25,048,822 21,901,000 20,716,814 18,221,785 14,581,777 11,852,491
Total $94,068,780 $82,635,682 $75,551,329 $59,258,546 $46,039,150 $35,871,653
DESCRIPTION OF BRAZORIA COUNTY
Brazoria County, a component of the Houston Metropolitan Area, has an economy based
on mineral production, manufacturing and agriculture. In 1970, the County had a popula-
tion of 108,312 and according to the Department of Commerce, U. S. Census Division, had a
1980 estimated population of 169,587; an increase of 36.13%. According to the Texas
Almanac, 1980-81, the County was created in 1836 and organized in 1837 from the
Municipality of Brazoria, name derived from the Brazos River. It averages approximately
$642 million per year income from oil, gas, magnesium, salt, stone, sand and gravel and
has produced nearly a billion barrels of oil since 1902. Also, it averages approximately
$45 million per year from agriculture, 70% from rice, cotton, soybeans, grain, and 30%
from livestock and poultry.
Mineral Production:
According to the Texas Mid-Continent Oil and Gas Association, Brazoria County in 1980
produced 14,512,093 barrels of crude oil from 30 producing oil wells and 181 ,174,590
million cubic feet of natural gas from 13 producing wells for a total value of
$583,303,187, ranking 12th in State production.
Agriculture:
According to the "Texas Crop and Livestock Reporting Service", 1980 cash receipts
from agriculture totaled $61 .9 million, of which crops contributed $39.8 million and
livestock and livestock products contributed $22.1 million. The County ranked 4th in
Texas in 1975 production of rice, with 2,493,300 CWT, and is one of the State's leading
counties in beef cattle production. Also contributing to the agricultural economy are
grain sorghums, hay, wheat, oats, corn, soybeans, cotton, fruits, vegetables and pecans.
In 1976, Brazoria County ranked 5th in the State in rye production with 14,600 bushels
produced.
Manufacturing and Commerce:
Employment in the County is provided by the extensive petro-chemical industry and
includes the following other industries: railroad tank cars, fabricated steel products,
sulphur products, concrete, mattress and upholstery, printing, sheet metal and machine
works, seafood processing, instruments and valve systems, and various others. (Source:
Texas Municipal Report and Brazosport Industrial Committee.) Also adding to the general
economy of the County are fishing, tourism and recreation activities and agribusiness.
The 1980 county retail sales totaled $688.6 million (Sales and Marketing Management/1981).
•
OFFICIAL BID FORM
Mayor and City Council
City Hall, City of Pearland
2335 North Texas Avenue
Pearland, Texas
Gentlemen:
We are in receipt of and have read the Official Notice of Sale and accompanying
Preliminary Official Statement, which are hereby made a part hereof, relating to the
$6,100,000 City of Pearland, Texas, Permanent Improvement Bonds, Series 1982 (the
"Bonds"). We offer to purchase the Bonds for the par value thereof plus a cash premium of
$ , plus accrued interest, to the date of delivery of the Bonds to us, provided
the Bonds bear interest at the following rates:
Maturity Maturity
March 1 Amount Interest Rate March 1 Amount Interest Rate
1984 $100,000 % 1991 $450,000 6.
1985 150,000 % 1992 500,0004.
1986 175,000 1993 550,000 %
1987 225,000 0 1994 650,000 a
1988 300,000 % 1995 750,000 0
1989 350,000 % 1996 750,000 A
1990 400,000 1997 750,000 %
Our calculation (which is not a part of this bid) of the interest cost from the above is:
Total Interest Cost From July 1 , 1982 $
Less: Cash Premium $
Net Interest Cost $
d
Net Effective Interest Rate '°
Cashier's Check No. , issued by
Bank, , Texas, and payable to your order in the amount of $122,000
(is attached hereto)(has been made available to you prior to the opening of this Bid) or a
Good Faith Deposit for disposition in accordance with the terms and conditions set forth
herein and in the Official Notice of Sale. Should we fail or refuse to make payment for
the Bonds in accordance with such terms and conditions, this check shall be cashed and the
proceeds retained as complete liquidated damages against us. We hereby represent that
sale of the Bonds in states other than Texas will be made only pursuant to exemptions from
registration or qualification and where necessary, we will register or qualify the Bonds
in accordance with the securities laws of the states in which the Bonds are offered or
sold.
Respectfully submitted,
By
Authorized Representative
ACCEPTANCE CLAUSE
The above and foregoing bid is hereby in all things accepted by the City of Pearland,
Texas, this 12th day of July, 1982.
ATTEST:
City Secretary, City of Pearland Mayor, City of Pearland
Return of $122,000 Good Faith Deposit is hereby acknowledged:
BOND YEARS
Dated: July 1 , 1982 Due: March 1 , Annually
Accumulated
Year Amount Bond Years Bond Years
1984 $100,000 166.667 166.667
1985 150,000 400.000 566.667
1986 175,000 641.667 1,208.333
1987 225,000 1,050.000 2,258.333
1988 300,000 1 ,700.000 3,958.333
1989 350,000 2,333.333 6,291 .667
1990 400,000 3,066.667 9,358.333
1991 450,000 3,900.000 13,258.333
1992 500,000 5,333.333 18,091 .667
1993 550,000 6,416.667 23,958.333
1994 650,000 8,233.333 31,541.667
1995 750,000 10,250.000 41,041.667
1996 750,000 11,000.000 51,291.667
1997 750,000 11,750.000 62,291 .667
Total Bond Years: 62,291 .667
Average Maturity: 10.2117 years