HomeMy WebLinkAboutORD 1978-026 ORDINANCE NO. 78-26
�
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY
� OF GRAPEVINE, TEXAS, AUTHORIZING AND DIRECTING
DELIVERY OF A PORTION OF CITY OF GRAPEVINE,
TEXAS, GENERAL OBLI GAT10N CERTIFICATES OF
OBLIGATION, SERIES 1977, AND OTHER RELATED
MATTERS; AND DECLARING AN EMERGENCY
THE STATE OF TEXAS X
COUNTY OF TARRANT �
CITY OF GRAPEVINE X
WHEREAS, on December 6, 1977, the City Council of the Cifiy of Grapevine,
Texds, passed an Ordinance authorizing the issuance of interest bearing Certificates
of Obligation, in the principal amounfi of $200,000 called "Cifiy of Grapevine, Texas,
General Obligation Certificates of Obligation, Series 1977," for the purpose of
renovating and complefiing a building presently owned by the City for use by the
Police Department, and as a library and community room, and to pay al I necessary
costs incidental thereto and to the issuance of said Certificates;
„�., WHEREAS, a construction coni-ract was executed on December 20, 1977,
; befween the Cify and Cardina) Builders, Inc., Lewisville, Texas;
WHEREAS, Cardinal Builders, Inc. has submitted its Applicafiion and Certificate
�" for Payment - Application No. 4, in the amount of $76, 198.63, a copy of such Appli-
cation being attached hereto and made a part hereof as �xhibit "A" for payment of a
portion of the contractor's fees, which Applicafion has been approved by the City's
Archi tect, as shown i n Exhi bi t "A"; and
WHEREAS, Certificates of Obligation should now be issued to the above named
contractor in order to satisfy a portion of the aforementioned sum:
THEREFORE, BE IT ORDAINED BY THE CIN COUNCI L OF THE CITY OF
GRAPEVINE, TEXAS:
Section 1. That it is hereby authorized and directed that fihere be delivered
to Cardinal Builders, Inc., Lewisville, Texas, Certificates of Obligation No. 80, in
the denomination of $5,000, and Certificates of Obligation Nos. 5 through 50, bot�h
inclusive, in the denomination of $1,000 each, aggregating $46,000, for a total �f
$51,000, wifih the remaining balance of $25,i98.63 to be paid from other Iawfully
avai lable funds �f the Ci ty.
- .��,
Section 2. That it is hereby officially found and determined thafi a portion
of the contractor's worlc has 6een satisfacfiorily performed, and that the City has
- received full value of said work, and said contractor is to be paid the ab�ve sum
�`� due for said servi ces i n accordance wi th the Constructi on Contract.
�
Section 3. That the indebtedness above mentioned was incurred for a purpnse
f�r which said Certificafies of Obligation are authorized, to-wit: for the purpose of
�" renovating and completing a bui Iding presently owned by the City for use by the Police
Department, and as a library and communii-y room, and to pay all necessary costs
incidental thereto and to the issuance of said Certificates.
Section 4. That the Mayor and City Secretary are hereby instructed to cause
to be executed and delivere� Certificates of Obligafiion No. 80 and Certificates of
Obligation Nos. 5 f�hrough 50, both inclusive. The execution and delivery of said
Certificates shall be the final installment delivery oufi of the $200,000 Certificates
of Obligation, Series 1977 authorized by the City Council on December b, 1977.
Secfion 5. lt is hereby officially found and determined that a case of emergency
or urgent public necessity being that the proceeds from the sale of the proposed Certifi-
cates of Obligation are required as soon as possible and without delay for necessary and
urgent needed public improvements; and thafi said meeting was open to fihe public and
public notice of the time, place, and purpose of said meeting was given, all as required
by Article 6252-17, V.A.T.C.S.
„�� PASSED AND APPROVED this the 18th day of Apri I, 1978.
i
w� —
Mayor, Ci fiy o C rapevi ne, 7�xas
ATTESTc
i ty ecret � i ty of Grape ne, Texas
APPROVED AS TO FORM AND LEGALITY:
.,--�'`"
[SEAL] Ci ty Attorney, Ci ty of Grapevi ne, Texas
�
�