R76-10 04-26-76NO. 76-10
RESOLUTION AUTHORIZING PUBLICATION OF NOTICE
OF INTENTION TO ISSUE 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"), 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 OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION
NOTICE IS HEREBY GIVEN that the City Councilof the City
of Pearland, Texas (the "City"), will meet in the City Hall,
City of Pearland, Texas, at 7:30 p.m. on May 24 , 1976, to
adopt a resolution authorizing the issuance of the City's
certificates of obligation, payable from City ad valorem taxes,
in the maximum aggregate principal amount of $300,000, 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 twenty (20) years from the date thereof,
for the purpose of evidencing the indebtedness of the City for
all or any part of the cost of (1) the •construction and improve-
ment of the roads, bridges, and streets of the City, such
work to be done by employees of the City and paid for as such
work progresses, (2) the purchase of the necessary rights-of-way
therefor, and (3) the cost of professional services incurred
in connection therewith.
WITNESS MY'HAND AND THE OFFICIAL SEAL OF THE CITY, this
26th day of April, 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 26th ay
f April,
176.
ATTEST: /s/n Carlton McComb
/s/ Dorothy L. Cook
City Secretary
CITY OF PEARLAND, TEXAS
(SEAL)
Mayor
CITY OF PEARLAND, TEXAS
•
•
•
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 April, 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 authorizing publication
of notice of intention to issue Certificates of Obligation of
the City for the purpose of the construction and improvement
of the roads, bridges , and streets of the City, such work to
be done by employees of the City and paid for as such work
progresses, and the purchase of the necessary rights-of-way
therefor, 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 emeri
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
day of April, 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
4,(,:oo o ' clock P .m. on the day of , 1976,
in a place readily accessible t the genera public at all
times , to-wit : .4„,,z, 7,7„, .
in the City Hall of the City . .
WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this
,Z,./op day of Gh , 1976 .
City Secreta
CITY OF PEA AND, TEXAS
- i
(SEAL) '
r:- •
(4111
•
AVISO DE REUNION
EL ESTADO DE TEXAS
CONDADOS- DE BRAZORIA Y HARRIS
•
CIUDAD DE PEARLAND
•
SE AVISA' POR EL PRESENTE que se llevara ' a cabo una
reuni6n del Cabildo Municipal de la CIUDAD DE PEARLAND ,
•
Condados de Brazoria y Harris , Texas (la "Ciudad ), el dia
• 26 de abril de 1976 , a las. 7 : 30 p .m. , en el
• Municipio
( City Hall )
Pearland, Texas • •
para considerar ; y si lo aconsejo el Cabildo Municipal ,
adoptar una resoluciOn autorizando la publicaci6n de un
aviso de intenci6n de. emitir Certificados de Obligaci6n de
la Ciudad para• la construcciOn y mejoramiento de caminos ,
puentas y calles de la Ciudad, dicho trabajo se hares por
trabajadores de la Ciudad y sera pagado segun progrese el
trabajo , y para comprar las necesarias servidumbres para lo' .
mismo , y para conducir , considerar y actuar sobre cualquier
otr.o asunto que se prese.nte a la reunion .
•
La necesidad de la Ciudad_ para dicha financiaci6n ha
•
creado una emergencia y un urgente requisito publico para
convocar la reuni6n y para la adopciOn de dicha orden en la
reuni6n .
DADO BAJO MI FIRMA Y EL SELLO OFICIAL DE LA CIUDAD ,
este dia de abril de 1976.
/fdo/ Dorothy-L . Cook
•
Secretaria Municipal
•
CIUDAD DE PEARLAND, TEXAS
(SELLO ) •
•
(411
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
-40 0 o ' clock P .m. on the AG day of G27 , 1976,
in a place readily accessible to the general public at all
times, to-wit : „4, . „_L. _
in the City Hall of the City .
WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this
day of `' 1976 .
City Secretary
CITY OF PEARLA , TEXAS
(SEAL)
e
1
^4�
-q "CITY OF PEARLAND"
� . * CDs
REQUIREMENT SCHEDULL _
| ��RE- BY UNDERWOOD, NEUHAUS & CO^ , INC^ --- - 10
PREPARED'_-
INTEREST INTEREST TOTAL TOTAL NEW TOTAL DEBT TAX � TAX
wp PRESENT @n6 O00% ' @ �` 000% NEW PRINCIPAL SERVJCE RATE RATE `
' FISCAL YEAR
DEBT PRINCIPAL
DUE� 2/ 1 DUo� 8/ 1 INTEREST &INTEREST REQUIREMENT NEW TOTAL
ENDING 9-30 REQUIREMENT DUEV 2/ o c^ . _
191 ,O99
1975 191 'O99 237, 198
1976 237' 198 15 000 10 50O 8'550 19,050 34'O50 259'971 ^ ^ �
=' 1977 225'921 ' ' 16 O5O 51 O5O 262'939
1978 211 ,889 35'O00 8'550 7'500 14' 25O 3p'25O 258,893
1979 219,643 25,O00 7'5OO 6'750 ' ' 261 p5p ,m
' 6 75O 5 85O � 12,6O0 42'6Vo ' .
`~ 1980 219,359 30'0OO ' ' 40 8OO � 6O 313 '
1981 219'513 3O,OOO 5'850 4'p50 1O,8O0 � 3p,O0O �58,27p
1982 219'279 30, O00 4'950 4'O50 p'OOO 37,2OO 26O,831 ~°
w' 1983 223,631 30,O0O 4'050 3' 150 /'�V0 4O'25O 262, p64
1984 ` 222'714 35,000 3' 150 2' 100 5'250 38, 150 25p,678
. � 1985 221 ,528 35,OOO 2, 100 1 �O5O. 3' 15O 36'O5O 26O' 711
224 661 35,000 1 ,O5O 1 ,050 , ^ .
1986 ' 222,671
� 1p87 2229671 225, 178
1988 225078 222028
~' 1p8p 222,428 224, 151
1pp0 224' 151 � 225,353 d�
225 353 `~
1991 ' 225,905
1992 225,905 225,666
1993 220666 ' . 150243
1994 157,243 155013
~� 1995 155,713 _----------
----------- . '
$ 98,40O
$ 4 919: 143
$ 300,O00
`
`
� � **
ASSESSED VALUATION $O^OO
~� DATED : JULY 1 ' 1976 @ O% COLLECTION
: ^ ' DUE : FEB 1 , 1977/1986 DATE 26-APR-76 ` ��
FIRST INTEREST COUPON DUE t FEB 1 , 1977 . ~~
r�
3 '
`s�-�
CLE 2 REPEAT 3=SAVE FILE,4=REPEAT PRINT) ,
� - n� ,n. / uuwr Tn CONTINUE?(O=NO, 1=CY ' = ' �
� ` o
V �� "CITY OF PEARLAND"
DEBT SERVICE REQUIREMENT---- ] !SCHEDULE
PROPOSED ^ ~-
PREPARED BY UNDERWOOD, NEUHAUS & CO. , INC, ` `
PRESENT INTEREST` INTEREST TOTAL TOTAL NEW TOTAL DEBT TAX TAX
FISCAL YEAR DEBT PRINCIPAL @ 6O0O% @ 6 O00% NEW PRINCIPAL SERVICE RATE RATE
, ' =~
~ ' ^--'- � -'�O REQUIREMENT DUE: 2/ 1 DUQ 2/ 1 DUE: 8/ 1 INTEREST &INTEREST REQUIREMENT NEW TOTAL
ENDING
191,O99
�� � 1975 191 ,O99 �
��'' '
1976 237P198 237, 198
5 0 1(� 5OO 8 85O 19,35O� 24,350 250,271
1977 220921 �O, 0 ' ' �
1978 � �� 211 ,889 25,O00 8,850 8, 1O0 16,950 41 ,95O 253,839
`� 1979 219,643 15,O0O 8, 100 7,650 15,750 30,750 25O,393
1980 219,359 20, .00 7050 7,O50 14000' 30700 254,O59 `
�� 1981 219,513 20,O00 7,O50 6,450 13,500 33,5OO 253,O13
�� 1982 219,279 20,000 6,450 5,850 12,300 32,300 251 ,579 �
1983 223:631 15,O00 5,850 5,40O 11 ,250 26,250 249,881
' 0984 222,714 20,0OO 5,400 4,800 1O,200 3O,200 252v914
^1985 221 ,528 .20,O00 4,800 4,200 9,O0O 29,000 ' 25O,528 =, _
`19 Ell 6 224,661 20,O0O 4,2OO 3,6OO 7,8OO 27,800 252,461
� 3 6OO 2 85O 6 45O 31 45O 254, 121 �m
�1987 � 222,671 25,OOO ' ' ' '
� ~ ~.. - -- ' - �� -
-_ 1988 225, 178 20,000 2,850 2,250 5, 100 25, 1OO 250,278
1989 222028 25,O00 2,250 1 ,500 3,750 28,750 251 , 178
1990 224, 151 25,OOO 1,500 750 2,250 20250 251 ,401
1991 225053 25,000 . 750 750 25,750 251 , 103 -
l��^ 225,905
' 1992 225,905
225,666
1993 225,666 .
`r - - 157,243 ^
1994 157,243 '
155,713
� . . 1995 � 155,713 -
----------- - ----- ----------
~,
.
$ ' 300,O00 149, 1OO $ 0969,843
'DATED 2 JULY 1 , 1976 ASSESSED VALUATION ' $O^OO
' �
DUE t FEB 1 ' . 1977/1991 ' @ O% COLLECTION
~ FIRST INTEREST COUPON DUE FEB 1 , 1977 DATE 26-APR-76 _
'
'
•
AFFIDAVIT
OF PUBLICATION •
N.
• - -TISSUE LCER+T FICAT�ESS OF'
OBLIGATION -
NOTICE IS HEERE,6Y`�
GIVEN that thetyy Council 0�ft
the, City ,of Pea"r."land N Texas
(the"City' ) ,Will_meet in the;
} =• I City Half; City oPfland;.
THE STATE OF TEXAS -- ) Texas,at 7 30 p: o ,yc24;.
i976, to adopt aution
r'- h"
COUNTY OF - BRAZORIA - ) authorizing the issle,.;;:n1.;..;:,:e,,,g0r:smia:n."1:siel:::1;:lii26;ynii
fthei
City's certificates -of-
obligation, payablC--ify.advaloremtaxtheBEFORE ME, the undersigned authority, a Notary Public in andmaximumaggreg �cipal
amount of $300,OOp earing'
for said State and County, on this day personally appeared . interest at a rate not �n exces's
3`,r%Y
- _ of that: prescribed;��by Article.
'717k-2, V-T.0 S as'amended;
and maturing over a peso°'of�.
E. F. FRANKLIN , beingknown -
years not to exceedltwenTy�(20i,
- to me, and beingbyme first dulysworn, upon his oath deposes and. says: Years from the.d`ate theeofi,'
_ P PY for the purpose of`ev�denc�ng
- that he is-the.x-publisher ofLegals for the SUN PROGRESS., the,haebtednssofRnec�tyfor
a newspaper of general circulation published in BRAZORIA "pir (I
County, Texas: that a copy of the attached notice was published in the
English language in said newspaper on the following dates: -i work
c�iby a und paid o hasu•ch
work progressesr (2) -rfhe
April 29 19 -76- .
purchase. of the necessary_;
rights-of-way therefor and (3)
May 6 19 .-7.6- THE COST OF
- PROFESSIONAL SERVICES
INCURRED IN; ' CON_-1
19 NECTION THEREWITH
-WITNESS MY HAND AN1D
THE OFFICIAL 'SEAL 'QF
1 19 THE CITY, this 261 day -- -
- - April, 1976'. w -- s r
, 19 = /s/DorOth z
, 19-
A copy of such notice being attached hereto and expressly made a --
part of this affidavit of publisher or other duly authorized person. ! -
E. F. FRANKLIN
By: .. ..... . ,c7: --- ...„9---Yee'....--ktiL ,
SWORN TO AND SUBSCRIBED before me by the said
E. F. FRANKLIN • - , publisher of
Legals for the SUN PROGRESS , on this the 7th •
day of May , 19 76 , to certify which -
witness my hand and seal of office. - •
L. S.
N ry PL471in and for BRAZORIA
///- !/ 7
•
Printer's Fee: ...$20.4S?
A—
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
April, 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
Cecil W. Griffin Councilman and
Mayor Pro Tem
Harry Farley Councilman
(Vacancy) Councilman
Tom Reid 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 resolu-
tion entitled :.
RESOLUTION AUTHORIZING PUBLICATION OF NOTICE
OF INTENTION TO ISSUE 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 :