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Home My WebLink AboutORD 1971-033 ORDINANCE N0. 71-33 r�� ..AN ORDINANCE CALLING BOND ELECTION; � PROVIDING AND FIXING DETAILS RE- LATING THERETO; AND DECLARING AN EMERGENCY AND THAT SAID ORDINANCE SHALL BE EFFECTIVE IMMEDIATELY URON ITS ADQPI'IQN , THE STATE OF TEXAS � � COUNTY OF TARRANf � Cli'1F CU� GRAP�VINE � WHEREAS, the City Council has determined that ar� election should forthwith be called and held in the City of Grapevine, Texas, for the purpose of submitting Pro- positio�s for the issuance of bo�ds of said City for the purposes hereinafter set forth; and WHEREAS, it is hereby officially found and determined that this Ordinance relates to the immediate preservation of the public peace, health or safety and is an emergency measure, the proceeds from the bonds herein submitted to an election being required as soon as possible and without delay for necessary and urgently needed � public improvements; that the meeting at which this Ordinance is considered is open to the public as required by law; and that public notice of the time, place, and ''��"' purpose of said meeting was giwen as required by Article 6252-17, Section 2A, V.T.C.S„ as amended; BE IT QRDAINED BY THE CITY COUNCIL OF THE CITY �JF GRAPEVINE, TEXAS: 1 . That an election shall be held in and throughout the City of Grapevine, Texas, on the 23rd day of November, 1971, whi ch is not l ess than fi fteen or rr�ore than thirty days from the date of this Ordinance, at which election the following prpposition� shall be su6mitted: � PROPOSITION NO. 1 "Shall the City Council of the City of Grapevine, Texas, be authorized to issue the revenue bonds of said City in the amount of $450,000, maturing 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 � � �;:�, improving and extending said City's Waterworks System; said � revenue bonds to be secured by a lien on and pledge of the net revenues from the operation of said City's Waterworks and Sewer System, each bond to be conditioned that the holder thereof shall never have the right to demand payment of said obligation out of funds raised or to be raised by fiaxation?" PROPOSITION NO. 2 "Shall the City Council of the City of Grapevine, Texas, be authorized to issue the revenue bonds of said City in the amount of $800,000, maturing 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 pri ce or pri ces and to bear i nterest at any rate or rates as shall be determined within the discretion of the City Council at the time of issuance, for improving and extending said City's Sewer System; said revenue bonds to be secured by a lien on and pledge of the net revenues from the operation of said City's Waterworks and Sewer System, each bond to be conditioned �,...., that the holder thereof shall never have the right to demand payment of said obligation out of funds raised or to be raised by � taxation?" PROPOSITION NO. 3 ' "Shall the City Council of the City of Grapevine, Texas, be authorized to issue general obligation bonds of said City in the amount of $900,000, maturing 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 improvements to the streets in said City, including necessary drainage in connection therewith, and to provide for the payment of the principal of and interest on said bonds by levying a tax sufficient to pay the annual interest on and to Greate a sinking fund sufficient to redeem said boncJs as they become due?° '� 2 � r�.:,, � PROP�SITI4N NO. 4 °Shali the City Council oF the City of Grapevine, Texas, be authorized to issue general obligation bonds af said City in the amount of $200,000, mc�turing serially in such insta3lments as r�ay . be fixed by the City Council, the maximum maturity being not mare than forty (40} years fram their dafie, to be issued and sald 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 perrr�anent public improver»ents, ta-wit: canstructing and equipping fire station buildings in and for said City, and to provide for the payment of the principa) of and interest'on soid bonds by levying a tax sufficient to pay the annual interest on and to create a sink- ing fund wfficient to redeem said bonds as they become due'�" PRQPOSlTSON NO. 5 °Shal! the C�ty Council of the City of Grapevine, Texas, ��" be authorized to issue general obligation bonds of said City in the amount of $300,000, maturing 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, ta be issued and sald at any price or prices and .to bear interest at any rate ar rates as shall be determined within t-he discretion of the City Council at the time of issuance, for the purpose of providing funds for perman�nt public improvements, to-wit: improving and extending said City's Sanitary Sewer �System, and to provide for the payment of the principal af and interest on said bonds by levy'sng a tax sufficient to pay the annual interest an and to create a sinking fund sufficient to redeem said boncls as they become due?" PRC?P4SITION NO. 6 "Shall the City Counc'sE of the City of Grapevine, Texas, be authorized to issue general obligation bonds of said City in the amount of $IO{},OQO, maturing serially in such installments as � may be fixed by the �ity Council, the maximum maturity being not more than farty �40) years from their date, to be issued and sold at any price or prices and to bear interest at qny rate or � � 3 ,e�:.�, 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: improving and acquiring land for park purposes for said City and develop- ing recreatrionaf facilities in connection therewith, and to provide for the payment of the principal of and interest on said bonds by levying a tax sufficient to pay the annual interest on and to create a sinking fund sufficient to redeem said bonds as they become due?" 2. That the entire City shall constitute ono ' election precinct, and the . election shall be held at the Central Fire Station, 215 Sauth Main Sfreet, Grapevine, 7exas, and the following persons are hereby appointed officers to conduct said election,towdit: Mrs. C. W. Goad , Presiding Judge, and Mrs. C. R. E2ell � Alternate Presiding Judge. � The Presiding Judge shall appoint not less than two nor more than six qualified election clerks to serve and assist in the conduct of said election, provided that if the Presiding '"""`" Judge named above actually serves as expected, the Alternate Presiding Judge shall be one of such clerks. . � By approving and signing this Ordinance the Mayor of said City officially confirms his appointment of the aforesaid election officers to serve atr said election; and by passing this Ordinance the City Counci! of said City approves and concurs in the appointment of the aforesaid election officers. 3. That the official ballots for said election shal! be prepared in accordance with the V. ?. C. S. E{ection Code so as to permit the electors to vote "FOR" or "AGA{NST" . the aforesaid Propositions, which shall be set forth in substantially the €ollowing form: PROPOSITION NO. 1 "THE ISSUANCE OF $450,000 WATERWORKS SYSTEM REVENUE BONDS" PROPOSITION NO. 2 "SHE ISSUANCE OF 5800,0�00 SEWER SYSTEM �EVEN,UE 80NDS" PROPOSITION NO. 3 � "THE ISSUANCE OF $900,OOO�GENERl�L,OBLI,GATION SSREET '�+ {MPROVEMENT BONDS" 4 r�..,. PROPOSITION NO. 4 �,� "THE ISSUANCE OF $200,000 GENERAL OBLIGATION FIRE STATION BONDS" PROPOSITION NO. 5 "THE ISSUANCE OF $300,000 GENERAL OBLIGATION SANITARY SEWER SYSTEM BO N DS" PROPOSITION NO. 6 "THE ISSUANCE OF $100,000 GENERAL OBLlGATION PARK AND RECREATION BONDS" The word "FOR" and beneath it the word "AGAINST" shall be made to appear on the left of said Propositions. A square shall be printed on the left of each of the words "FOR" and "AGAINST," and each elector shall place an "X" in the square beside the statement indicating the way he wishes to vote. Absentee voting shall be conducted at the City Secretary's office, in accordance with the provisions of V.T.C.S. �lection Code, Chapter 5. 4. 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 rendered 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 taxation) shall be allowed to vote. The votes cast in each of said boxes shall be record�d, 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). For the purposes of absentee balloting, two separate ballot boxes shall be provided at the office of the City Secretary therefor. 5. That notice of said election shall be given by posting a notice containing a substantial copy of this Ordinance at the City Hall and at two other public places within said City not less than 14 days prior to the date upon which said election is to be held, and by publication of said notice on the same day in each of two successive weeks in a newspaper of general circulation published in said City, the date of the first publication to be not less than 14 days prior to the date set for said elect'ion. � � 5 �", � 6. That the City Council, as aforesaid, hereby finds that this Ordinance �""" relates to the immediate preservation of the public peace, health or safety and is an emergency measure, the proceeds from the bonds herein submitted to an election being required as soon as passible and without delay for necessary and urgently needed public improvements, and accordingly this Ordinance shall be and become effective immediately upon its adoption and execution. PASSED, APPROVED AND EFFECTIVE this 2nd day of Noverr�ber, 1971, CITY OF GRAPEVINE, TEXAS BY ' , > /.,�� -�_, /_� ,�r�. Mayor ATTEST: � f:, .'" r -". ��1�.>-��-�,t,:: `C�. City Secretary �� [SEAL� � � AP OVED AS TO FORM AND LEGALITY , . B:! G ;�-c.�-.�.�., City At orney � � 6