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Home My WebLink AboutOrdinance 0375 f J !I ¡' Ii II The Mayor announced that the ordinance had been finally Ii /I passed. /1 ..__.~~'-~~--<._--.~-_._._--~~<~_."..~~_._~--"-_.~,--- II H " ¡¡ II 'J ¡¡ I' II I' ~; II !i í: II II " II !) II Ii Ii {i :; H I¡ Ii Ii U II II i¡ i\ !i liON THIS, the 27th day of September, 1971, the City Council II ¡I of the City of North Richland Hills, Texas, convened in regular ,! session at the regular meeting place thereof in the City Hall, ~~ ì! the meeting being open to the public and notice of said meeting, il giving the date, place and subject thereof, having been posted II as prescribed by Article 6252-17, Section 3A, V.A.T.C.S., there Ii being present and in attendance the following members, to wit: ~{ Ii 11 MARION L. MASSEY MAYOR ORDINANCE NO. 315 ORDINANCE AMENDING ORDINANCE AUTHORIZING ISSUANCE OF $5,275,000 "CITY OF NORTH RICHIAND HILLS, TEXAS, WATERWORKS AND SEWER SYSTEM REVENUE BONDS SERIES , 1971," DATED SEPTEMBER 1, 1971 THE STATE OF TEXAS I I COUNTY OF TARRANT I I CITY OF NORTH RI CHIAND I HILLS I I! Ii ï¡ i~ I' II ¡¡ H ) ) ) ) ) ) ) W. N. RATCLIFF J. R. HUBBARD W. F. POLSTER DICK FARAM J. F. CA TO TOM E. NEWMAN CHARLES L. OWEN COUNCILMEN II I! I! Ii and with the following absent: ¡'V Dvi3 II cons ti tu ting a quorum; and among other proceedings had by said ¡¡ City Council were the following: II ,I i ~ ¡; ~! H The Mayor introducèd a proposed ordinance. II was read in full. H 'II !! ~¡ Î! II 1 t I¡ Ij I' ¡ II ¡' :! !¿ The ordinance Councilman Po L ~ TE I?- made a motion that any rule requiring an ordinance to be read more than one time or at more than one meeting 'be suspended and that the ordinance be passed finally. Councilman ¡= A R AA\ seconded the motion and, the question being called for, the motion carrying with it the adoption of the ordinance, carried DY the following vote: AYES: Councilmen Ratcliff, Hubbard, Polster, Faram, Cato, Newman and Owen. NOES: None. n !! !I The ORDINANCE is as follows: ¡, II h ii " ;¡ I¡ !I " II ~¡ II :1 !I H II AN ORDINANCE by the City Council of the City of North Richland Hills, Texas, amending the ordi- nance authorizing the issuance of $5,275,000 "CITY OF NORTH RICHIAND HILLS, TEXAS, WATER- WORKS AND SEWER SYSTEM REVENUE BONDS, SERIES 1971," dated September l, 1971, so as to change the interest rates the bonds will bear, ratify- ing and confirming other provisions of the ordinance, including the sale of the bonds; and declaring an emergency. WHEREAS, it has been determined that based upon current con- ditions of the market, the bonds heretofore authorized, to wit: "City of North Richland Hills, Texas, Waterworks and Sewer System Revenue Bonds, Series 1971," dated September 1, 1971, may be sold at a lesser effective interest rate, and it is to the best inter- ests of the City 'to change those provisions of the ordinance which prescribe such rates of interest; now, therefore, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF NORTH I RICHIAND HILLS, TEXAS: SECTION 1: That Section 3 of the ordinance described above in the preamble be amended and the same is hereby amended to hereafter read as £ollows: "SECTION 3: Interest. That said bonds shall bear interest from date to maturity at the following rates per annum: (a) Bonds maturing in ea ch 0 f the years 1977 through 19 ò.3 at j-I¡L %; (b) Bonds maturing in each of the years 19 J</ through 19 57 at (, %; (c) Bonds maturing in C3 ch 0 f the year¢ 19 filS througrl 19 at (,,/0 %; - (d) Bonds maturing in each 0£- the years 19.21... through 19 at G. ?~o '!c. - 0, (e) Bonds maturing in each of the years 19.i£. throughLW_ at 7 '!c. 0, (f) Bonds maturing in each of the years 19 through 19 at %; - (g) Bonds maturing in each of the years 19 through 19 at %; and - (h) Bonds ma turing in each of the years 19 through at %; such interest to be evidenced by proper coupons attached to each of said bonds; and said interest shall be payable on March 1, 1972, and semiannually thereafter on Septem- ber 1 and March 1 in each year." SECTION 2: That. the sale of the bonds authorized by the ordinance of August 3l, 1971, and amended hereby, to FIRST SOUTIDvEST COMPANY and RAUSCHER PIERCE SECURITIES CORPORATION at the price of par plus accrued interest to date of delivery, is hereby confirmed. SECTION 3: That except as hereby modified, all of the provisions of the ordinance heretofore adopted authorizing the issuance of the above described bonds, including the sale of the bonds, are hereby r~tified, confirmed and readopted. SECTION 4: That the public importance of this measure and the fact that it is to the best interest of the City to provide funds for the purpose for which said bonds were issued at the earliest possible date constitute and create an emergency and an urS2nt public'necessity, requiring that any rule providing for ordinances to be read more than one time or at more than one meeting of the City Council be suspended, and requiring that this ordinance be passed and take effeètas an emergency measure, and any such rule or provision is accordingly suspended and this ordinance is passed as an emergency measure, and shall take effect and be in full force from and after its passage. PASSED AND APPROVED, this the 27th day of September, 1971. "--/6kL~-ølfrtJJt/ M~r, City of North Richland Hill~", Texas V ATTEST: ()ffrYM > 6J~-l City Secretary, City of North Richland ' Hills, Texas APPROVED AS TO LEGALITY: (City Seal) () ~ )1fc,A L )11t)VuJJ ~ Attorney, City of North Richland Hills, Texas II I, I II II II Ii Ii 'I 1 ¡ I I I II 1 , ¡ 'j I 'I , :1 II II ¡I il I¡ II ,I 'I I, ,I ì II Ii I' II II II ! , I ,I II ., .\ I ¡ i II II ! II ',1 I ,I !. Ii " ., ì ¡ Ii II ,I II ¡ I II --;---~-_._~----~~--_._.-"~- GENERAL CERTIFICATE THE STATE OF TEXAS 1 X COUNTY OF TARRANT 1 1 CITY OF NORTH RICHLAND HILLS 1 We, the undersigned, Mayor and City Secretary, respec- tively, of the City of North Richland Hills, Texas, DO HEREBY CERTIFY as follows: 1. That the following is ß full and correct statement of the tax-supported indebtedness of said City as of the date hereinbelow shown: Kind of Bonds Date Int. Gen. Oblig.. Series 1968 7-1-68 . 6% 5% 5-1/4% 5.30% 5.40% Gen. Oblig. Series 1969 3-15-69 6% 5-1/4% 5.30% Gen. Oblig. Series 1970 3...15-70 710 6% 6-3/4% 7% 7.10% Maturity $ 15,000 7-1-72 20,000 73/77 25,000 78 25,000 78/91 30,000 82/83 30,000 84 35,000 85/87 40,000 88/89 45,000 90/91 45,000 92 50,000 93/94 55,000 95/96 60,000 97/98 20,000 3-15-72 25,000 73/74 25,000 75 30,000 76/78 35,000 79/82 40,000 83 45,000 84/86 50,000 87/88 55,000 89/90 65,000 91 65,000 92 70,000 93/94 . 10,000 3-15-72/78 10,0,00 79 l5,000 80/82 20,000 83/86 25,000 87 25,000 88/89 30,000 90/91 35,000 92/93 40,000 94 50,000 95 Amount Outstandin~ $ 955,00G 980,000 500,000 í! !I I .i I I ! ~ i "I :1 Kind of Bond s ¡ I 'I ì Date Int. Maturity 7-10-71 8-1/2% $lO,OOO 7-10-73/77' 4.60% 10,000 78 15,000 79 5%· 15,000 80/8l 5.60% 15,000 82/84 6% 20,000 85/86 6.20% 20,000 87/88 6.30% 25,000 89/91 6.35% 30,000 92/93 6.40% 30,000 94 35,000 95/97 Amount Outstandin~ $ $ $ 500,OOp 2,935,000 Gen. Oblig. Serie's 1971 . ~ II l ¡ I i d II II TOTAL TAX-SUPPORTED INDEBTEDNESS 'I II II Ii il \1 Ii II II II Sinking funds on hand to credit of above debt 2. That the following are the duly qualified and acting officers of said City: J II ,I 11 II II I II I' MARION L. MASSEY W. N. RATCLIFF J. R. HUBBARD W. F. POSTER DICK FARAM J. F. CA TO TOM E. NEWMAN CHARLES L. OWEN DONNA PAIRSH DENNIS MORROW EVALYN R. HUSTON CITY SECRETARY-TREASURER CITY ATTORNEY DIRECTOR OF FINANCE That said City is incorporated under the general laws of the State of Te~as, and is operating under the Home Rule Amendment to the Texas Constitution, Section 5, Article XI, as amended in 1212; the City Charter was originally adopted at an election held on November 3,1964, and was amende'd as the result of an electbn held on November l5, 1969; there have been no amendments to said :1 . Charter since November 15, 1969. 'I t II !1 II Ii II II Ii I ¡ ¡! ¡I II 11 II II r ,\ il I. n :1 I. MAYOR COUNCILMAN COUNCILMAN COUNCILMAN COUNCILMAN .COUNCILMAN COUNCILMAN COUNCILMAN WITNESS OUR HANDS AND THE SEAL OF SAID CITY, this the l3th October, 1971. '--2/~ 1 ~ t" _/~ /1(¡!l~ ~~, 7: If.~ Mayor, City o~ ~h~s, Texas lC'I~C0 /k~ City Secretary-Treasurer, City of North Richland Hills, Texas ,day of (City Seal) .\