HomeMy WebLinkAboutORD 2012-059 ORDINANCE NO. 2012-59
AN ORDINANCE CANVASSING RETURNS AND DECLARING THE
RESULTS OF A BOND ELECTION HELD IN THE CITY OF GRAPEVINE,
TEXAS, ON NOVEMBER 6, 2012 AND PROVIDING AN EFFECTIVE DATE
WHEREAS, the City Council (the "City Council") of the City of Grapevine, Texas
(the "City") duly authorized a bond election (the "Election") to be held within the City on
November 6, 2012, for the purpose of submitting to the resident qualified electors of the City the
propositions hereinafter set forth; and
WHEREAS, the City Council has investigated all matters pertaining to the Election,
including the ordinance calling the Election, giving notice, appointing officers, holding and
making returns of the Election; the election officers who held the Election have duly made the
returns of the results thereof; and said returns have been duly delivered to the City Council for
official canvassing of the returns thereof; and
WHEREAS, upon the consideration of the returns of the Election, it is hereby found and
determined that the same was held in accordance with the authorizing proceedings and was in all
respects legally held after due notice had been given, and the returns duly and legally made, and
other instruments, showed the following results:
PROPOSITION NO. 1
"Shall the City Council of the City of Grapevine, Texas, 12,838 Votes For
be authorized to issue and sell general obligation bonds
of the City, in one or more series or issues, in the 3,828 Votes Against
aggregate principal amount of $38,600,000, with the
bonds of each series or issue, respectively, to mature
serially in such installments as may be fixed by the City
Council, 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 issuance, for the purpose of
providing funds for permanent public improvements, to
wit: constructing and equipping a new public safety
building and the acquisition of land therefor; and to
provide for the payment of the principal of and interest
on the bonds by levying a tax sufficient to pay the
annual interest on and to create a sinking fund sufficient
to pay said bonds as they mature?"
PROPOSITION NO. 2
"Shall the City Council of the City of Grapevine, Texas, 12,759 Votes For
be authorized to issue and sell general obligation bonds
of the City, in one or more series or issues, in the 3,952 Votes Against
aggregate principal amount of $30,100,000, with the
bonds of each series or issue, respectively, to mature
serially in such installments as may be fixed by the City
Council, 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 issuance, for the purpose of
providing funds for permanent public improvements, to
wit: constructing, improving, equipping, and renovation
to and expansion of the existing Community Activities
Center, including construction of a new central plant to
service the Community Activities Center and the
adjacent Grapevine Public Library; and to provide for
the payment of the principal of and interest on the bonds
by levying a tax sufficient to pay the annual interest on
and to create a sinking fund sufficient to pay said bonds
as they mature?"
TOTAL BALLOTS CAST IN ELECTION: 19,692
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF GRAPEVINE, TEXAS THAT:
Section 1. All of the recitals contained in the preamble of this ordinance are found to
be true and are adopted as findings of fact by the City Council and as part of its judgment.
Section 2. It is found and determined that the results of the Election as canvassed and
tabulated in the preamble hereof reflect the expressed desires of the electors. Based on the
results of the Election, the City is authorized to issue its bonds with respect to the Propositions
and in accordance with applicable law.
Section 3. This ordinance shall take effect immediately upon its passage and
approval.
PASSED AND APPROVED this 19th day of November, 2012.
ORD. NO. 2012-59 -2-
APPROVED:
Willi. Tate
Mayor
ATTEST:
,
J. C. Brown
Ci Secretary
APPROVED AS TO FORM:
John F. Boyle, Jr.
City Attorney
ORD. NO. 2012-59 -3-