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Home My WebLink AboutCity Council Resolutions (R-72-52)-11/14/1972 r I't ,,-. ~ I.r,'. . " f -"1 ,j l RESOLUTION R-72-52 A RESOLUTION AND ORDER by the City Council of the City of Colleyville, Texas, calling a bond election to be held within said City, making provision for the conduct of the election and other provisions incident and related to the purpose of this resolution and order. WHEREAS, this City Council deems it advisable to call a bond election for the purpose hereinafter mentioned; therefore, BE IT RESOLVED AND ORDERED BY THE CITY COUNCIL OF THE CITY OF COLLEYVILLE, TEXAS: SECTION 1: That an election be held on the 9th day of December, 1972, which date is not less than fifteen (15) nor more than thirty (30) days from the date of the adoption hereof~ at which election the following propositions shall be submitted: PROPOSITION NUMBER 1 "SHALL the City Council of the City of Colleyville, Texas, be authorized to issue revenue bonds of said City in the amount of SEVEN HUNDRED THOUSAND DOLLARS ($700,000), maturing serially in such installments as may be fixed by the City Coun- cil, the maximum maturity being not more than FORTY (40) years from their date, to be issued and sold at any price or prices and to bear interest at any rate or rates as shall be determined within the discretion of the City Council at the time of issu- ance, for the purpose of purchasing, constructing and improving a Waterworks System in and for said City; to be issued in accordance with and in the manner provided in Article 1111 et seq., V.AoT.G.S., and secured by a pledge of the net revenues from the operation of the City's combined Waterworks and Sanitary Sewer System, each bond to be conditioned that the holder thereof shall never have the right to demand payment of said obligation out of ~unds raised or to be raised by taxation?" PROPOSITION NUMBER 2 "SHALL the City Council of the City of Colleyville, Texas, be authorized to issue ONE MILLION TWO HUNDRED EIGHTY THOUSAND DOLLARS ($1,280,000) general obligation bonds of said City for the purpose of purchasing, constructing and improving a Waterworks System in and for said City; said bonds to mature serially over a period of years not to exceed FORTY (40) years from their date, to be issued and sold at any price or prices and to bear interest at any ra te or rates as shall be determined within the discretion of the City Council at the time of issuance; and to provide for the payment of principal of and interest on said bonds by levying a tax sufficient to pay the annual interest and to create a sinking fund suffi- c ient to redeem sa id bonds as they become due?" RESOLUTION R-72-52 PROPOSITION NUMBER 3 "SHALL the City Council of the City of Colleyville, Texas, be authorized to issue SEVEN HUNDRED 'lWENTY THOUSAND DOLLARS ($ 720,000) general obligation bonds of said City for the purpose of purchasing, construction and improv- ing a Sanitary Sewer System in and" for said City; said bonds to mature serially over a period of years not to exceed FORTY (40) years from their date, to be issued and sold at any price or prices and to bear interest at any ra.te or rates as shall be determined within the discretion of the City Council at the time of issuance; and to provide for the payment of principal of and interest on said bonds by levying a tax sufficient to pay the annual interest and to create a sinking fund suf- ficient to redeem said bonds as they become due?" PROPOSITION NUMBER 4 "SHALL the City Council of the City of Colleyville, Texas, be authorized to issue ONE Mn.LION SEVEN HUNDRED FIFTY THOUSAND DOLIARS ($i, 750 ,000) general obligation bonds of said City for the p~rpose of constructing and improving streets and related drainage facilities, and the acquisition of necessary lands and rights of way in connection therewith; said bonds to mature serially over a period of years not to exceed FORTY (40) years from their date, to be issued and sold at any price or prices and to bear in- terest at any rate or rates as shall be determined within the discretion of the City Council at the time of issuance; arrl to provide for the payment of principal and interest on said bonds by levying a tax sufficient to pay the annual interest and, to create a sinking fund sufficient to redeem said bonds as they become due?" PROPOSITION NUMBER 5 "SHALL the City Council of the City of Colleyville, Texas, be authorized to issue FOUR HUNDRED SIXTY THOUSAND DOLLARS ($460,000) general obligation bonds of said City for the purpose of acquiring or improving, or both, land for park purposes; said bonds to mature serially over a period of years not to exceed FORTY (40) years from their date, to be issued and sold at any price or prices and to bear interest at any rate or rates as shall be determined within the dis- cretion of the City Council at the time of issu- ance; and to provide for the payment of principal of and interest on said bonds by levying a tax sufficient to pay the annual interest and to create a sinking fund sufficient to redeem said bonds as they become due?" RESOLUTION R-72-52 PROPOSITION NUMBER 6 "SHALL the City Counc il of the City of Colleyville, Texas, be authorized to issue SEVENTY-FIVE THOUSAND DOLLARS ($75,000) general obligation bonds of said City for the purpose of providing police facilities, including the acqui- sition of necessary sites therefor; said bonds to mature serially over a period of years not to exceed FORTY (40) years from their date, to be issued and sold at any price or prices and to bear interest at any rate or rates as shall be determined within the discretion of the City Coun- cil at the time of issuance; and to provide for the payment of principal of and interest on said bonds by levying a tax sufficient to pay the annual interest and to create a sinking fund sufficient to redeem said bonds as they become due? It PROPOSITION NUMBER 7 "SHALL the City Council of the City of Colleyville, Texas, be authorized to issue ONE HUNDRED TWENTY-FIVE THOUSAND DOLLARS ($125,000) general obligation bonds of said City for the purpose of constructing and equipping a fire station building in and for said City; said bonds to mature serially over a period of years not to exceed FORTY (40) years from their date, to be issued and sold at any price or prices and to bear interest at any rate or rates as shall be determined within the discretion of the City Council at the time of issuance; and to provide ~or the payment of prin- cipal and interest on said bonds by levying a tax sufficient to pay the annual interest and to create a sinking fund sufficient to redeem said bonds as they become due?" PROPOSITION NUMBER 8 "SHALL the City Council of the City of Colleyville, Texas, be authorized to issue FIVE HUNDRED NINETY THOUSAND DOLLARS ($590,000) gen- eral obligation bonds of said City for the purpose of constructing a new City Hall-Library Building in and for said City; said bonds to mature serially over a period of years not to exceed FORTY (40) years from their date, to be issued and sold at any price or prices and to bear interest at any rate or rate s as shall be determined within the discretion of the City Council at the time of issuance; and to provide for the payment of prin- cipal of and interest on said bonds by levying a tax sufficient to pay the annual interest and to create a sinking fund sufficient to redeem said bonds as they become due?" RESOLUTION R-72-52 stCTION 2: That the official ballots for said election shall be prepared in accordance with the V.A.T.C.So Election Code so as to permit the electors to vote "FOR" or "AGAINST" the afore- said propositions which shall be set forth in substantially the following form: PROPOS IT ION NUMBER 1 "THE ISSUANCE OF $700,000 REVENUE BONDS FOR WATERWORKS SYSTEM ACQUISITION AND IMPROVEMENTS" PROPOSITION NUMBER 2 '7HE ISSUANCE OF $1,280,000 GENERAL OBLIGATION WATERWORKS SYSTEM BONDS" PROPOSITION NUMBER 3 "THE ISSUANCE OF $ 720,000 GENERAL OBLIGATION S:tWER SYSTEM BONDS'" PROPOSITION NUMBER 4 "THE ISSUANCE OF $1,750,000 GENERAL OBLIGATION STREET IMPROVEMENT BONDS" PROPOSITION NUMBER 5 "THE ISSUANCE OF $460,000 GENERAL OBLIGATION PARK BONDS" PROPOSITION NUMBER 6 "THE ISSUANCE OF $75,000 GENERAL OBLIGATION POLICE BUILDING BONDS" PROPOSITION NUMBER 7 "THE ISSUANCE OF $125,000 GENERAL OBLIGATION FIRE STATION BUIIDING BONDS" PROPOSITION NUMBER 8 '~HE ISSUANCE OF $590,000 GENERAL OBLIGATION CITY HALL-LIBRARY BUILDING BONDS" The word "FOR" and beneath it the word "AGAINST" shall be made to appear on the left of each proposition. A square shall be printed on the left of each of the words "FOR" and HAGA INST" and , each elector shall place an ''X'' in the square beside the statement indicating the way he wishes to vote. RESOLUTION R-72-52 SECTION 3: That said election shall be held at the City Hall in said City, and the entire City shall constitute one election precinct for said election. SECTION 4: That the following named persons are hereby appointed officers of the election: J. o. BA ILEY Pre s id ing Judge JERRY STEWARD Alternate Presiding Judge The Presiding Judge shall appoint not less than two (2) nor more than ~ qualified clerks to serve and assist in hold- ing said election; provided that if the Presiding Judge herein appointed actually serves, the Alternate Presiding Judge shall be one of the clerks. On election day the polls shall be open from ~'(._?OA .M. to 7:00 P.M. Absentee voting shall be conducted at the City Secretary's office in the City Hall, in accordance with the provisions of . V.A.T.S. Election Code, Chapter 5. SECTION 5: All resident qualified electors of the City, including those who own taxable property in said City and who have duly rendered the same for taxation, shall be permitted to vote at said election. That at said election two separate ballot boxes shall be provided at the polling place. In one box only resident qualified electors who own taxable property and who have duly ren- 'dered the same for taxation shall be allowed to vote. In another box all resident qualified electors (who are otherwise qualified but do not own taxable property which has been duly rendered for ;' r taxation) shall be allowed to, vote. The votes cast in each of said boxes shall be recorded, returned, and canvassed in such manner as will reflect separately the votes cast by the qualified electors who own taxable property and who have duly rendered the same for taxation from the votes cast by all qualified electors (including those who own taxable property and who have duly rendered the same for taxation). SECTION 6: That a substantial copy of this resolution and order shall serve as proper notice of said election. Said notice shall be posted in the election precinct and at the City Hall not less than fourteen (14) full days prior to the date on which said election is to be held, and be published on the same day in each of two successive weeks in a newspaper of gen- eral circulation in said City, published therein, the first of said publications to be made not less than fourteen (14) full days prior to the date set for said election. ATTEST: /)/) /1 / I"',, City t' -, /; / c2:J::-:: [C- ./ Colleyv lIe, of November, 1972. PASSED AND APPROVED, this / ~d'"Z(.{ 1<!-k:~j City of Texas (City Seal)