08-18-1964 (City Council) Minutes 7 ' MINUTES OF SPECInL i EETIUG
The City Council met in special session August 18, 1964. Present: Mayor
Hampton, Councilmen: ;card, St John, Shields, -ickman and 'jnstot. City
Administrator Jack 'y`hitt and City Secretary, Oneida Ga_ l a _,her.
The meeting vies called to order by 1--ayor Lampton. The consent to meet was
read by 1,a ror 1-anpton; Signed by Councilmen; Onstot, eic'. man, St. John,
Shields and Ward.
ir. FrmAk iledinach with the First Southwest Co. met with Council re refer-
ence to the 350,000.00 Street Improvement Bond.
OR!DI: A CE AUT ORIZI'vG IS_is i^ Ch OF u 50,000.00
"CITY OF JYLIE, 'i'?+Y S, STFiWFT I'. eROVRI E T
BO :DS, S: RIES 1964", DAt LJ SEP'i'E1 BER 1, 1964
On T IS, the 18th day of August, 1964, the City Council of the City of
Wylie, Texas, convened in special session at the regular meeting place
thereof with the following ,� e :bers present, to-wit: 0. H. n amptong, hayor.
Aldermen: R. D. Onstot, Carl L. 'Ward, J. T . hickman, C. T. Shields and
,i. K. St. John, and with the following absent: NONE, constituting a quorum;
and amoung other proceedings had were the following:
Mayor Hampton introduced a Proposed ordinance which was read in full.
Alddrman, St. John moved that any rule requiring ordinance to be read at
more than one meeting be suspended. The l otion was sec -nded by Alderman
Hickman end carried by the following vote: AYES: 'aldermen Onstot, Ward,
Hickman, Shields and St. John. NOES: NONE.
Alderman Ward moved that the ordinance be passed finally. The motion was
seconded by Alderman Onstot and carried by the following vote: AYES:
Aldermen Onstot, ''ford, lick an, ohields end St. John. NOES: HONE.
The mayor announced that the ordinance had been finally passed.
The ORDIAWCE is as follows
"AU ORDI ONCE by the City Council of the City of Wylie, Texas, authorizing
the issuance of f 50,000.00 'CITY OF -YLIE, Th As, STREET I .iPROVE : T BONDS,
SERIES 19641 dated Septe ;ber 1, 1964, for the purpose of constructing
street i. .provements in an_`.. for said City; prescribin the form of the bonds
and the form of the interest coupons; levying a continuing direct annual
ad valorem tax on all taxable property within 11 e i r i ;. ef C' i
V
1 ' <; ;nterest on said bonds and to create a sinking fund for the redemp-
tion thereof and providing for the assessment and collection of such taxes;
enacting provisions incident and relating to the subject and purpose of
this ordinance; and declaring an emergency."
W ERTEAS, the City Council of the City of Texas on the 22nd day of
June, 1964, passed and adopted a resolution and order callin ; an election
at which the following proposition ves submitted to the qualified property
taxnayin.g electors of said City who had duly rendered their property for
taxation:
"SHALL the City Council of the City of Wylie, Texas, be authorized to
issue FIFTY THOUS'._:D DOLLARS (,,50,000) general obligation bonds of said
City for the purpose of constructing street improvement in and for said
City; said bonds to mature serially over a period of years not to exceed.
(30) years from their date, and the bear interest at a rate not to exceed
OUR AND O' E*HALF PER CENTUM (4-1/2`‘) per annum, payable annually or semi-
annually; and to provide for the payment of principal of and interest on
said bonds by levying a tax sufficient to pay the a nual interest and to
mutes of spccial mectin- Contid.
7 11
create a sin:-*ng fund suffIcIent to redeem said bonds as tle,T become due?"
AND 7-?.:_;AS, the said election was held pursuant to said resolutor and order
on the l'dth Ca: of July, 19 L4 en: resulted favorable to tme issuanc of said
—gcneral oblifation bonds, above described; and,
1,11- RH,S, the Cit: C )unci] has examined into and investi7,ated the regularity
of t o eroceedings for said election and finds that the same vas duly and
legally held; that the n )tice required by law to be given had been duly and
legally given; and that said election was conducted in strict conformity
with the law; and,
'1,EREAS, the City Council has heretofore, to-wit; on the 20th day of July,
196)4, adopted a resolution declaring the results of said election and de-
termining tne specific authority of the City to issue said obligation
bonds; therefore,
BY IT ORDAITED BY T CITY COT' CIL OP TTE CITY Of ,XLIE, TEXAS:
SECTION 1: That the bonds of said City, to be known as "CITY OF SYLIE, TEXAS,
STR7IIT ILIROVIT FliT BOIJO, SERIES 1964", be and the same are hereby ordered to
be issued in the principal sum of NIFTY ThOU'iAnD DOLLARS ( 50,000) for the
purpose of constructing streem inrovement in and for said City, under and by
virtue of the Constitution and laws of the state of Texas.
SECTION 2: That said bonds shall be numbered consecutively from One (1 )
through (50) ; shall be in Oenoinnbio2 of One Thousand DoLlars (f-,a,000 )
each; shall cc datd ,,cpbe, -ber 1, -1(.?a„ and small become due and payable
serially, ilbhout rirht of prior ree, 1) 10.1, on Seobo belii in coo of t ,o
7ears in accordance -c;Ith tho fo2_10-inr- schedule:
DU,D :1;1.T3hriS
(All Inclusive ) LIATUTIITY AEOUT1T
1 to 3 1965 3,000
b. to 6 1906 .0 000
7 and 8 1967 2,000
9 and 10 1968 2,000
11 and 12 1969 2,000
13 and 111 1970 2,000
15 and 16 1971 2,000
17 and 18 1972 2,000
19 and 20 1973 2,000
21 and 22 1974 2,000
23 and 211 1975 2,000
25 and 26 1976 2,000
27 and 28 1977 20000
29 and 30 1978 2,000
1 to 40 1979 10,000
41 to 50 1980 10,000
SECTDM That said bonds shall boar inteest from date of maturity at the
following rates per annum:
(a) Bonds maturing in each of the years 1965 through 1968 at
/33/4 •
(b) Bonds maturing in each of the years 1969 through 1973 at 4 5; and
Cc) Bonds maturing in each of the years 1974 through 1980 at 4 1/4%;
such interest to be evidenced by pro ,or coupons attached to each of said
bonds, and said interest shall be 1.,)aable on larch 1, 1965 and semi-
annually thereafter on septe-lber 1 mu -arch 1, in each year.
MINUTE,' OF SPECIAL _ET Nu OF August 1Gth cone' d.
SECTION ..: That both principal of and interest on said bonds shall be pay-
able in lawful money of the united states of America, without exchange or
collection charges to the owner or holder, at the ::flRCA ?TILE NATIONAL BANK
AT DALLAS, DALLAS, TEXAS, upon presentation and surrender of bond or pro-
per coupons .
SECTIO.T 5: The seal of said City may be impressed on each of said bonds or,
in the alternative, a facismili of such seal may be printed on the said bonds .
The bonds and interest coupons appurtenant thereto may be executed by the
i-printed facsimile signatures of the Mayor and City secretary of the City,
and execution in such manner shall --ave the sane effect as if such bonds
and coupons had been signed by the Layor and City Secretary in person by
their manual signature . Inasmuch as suchbonds are required to be registered
by the Comptroller of Public Accounts for the State of Texas, only his sig-
nature (or that of a deputy designated in writing to act for the Comptroller)
shall be required to be manually subscribed to such bonds in connection with
his registration certificate to appear thereon, as hereinafter provided; all
in accordance with the provisions of the 'i'rcxas Uniform Facsimile Signature
of Public Officials Act", enacted by the 57th Legislature of Texas at its
Regular Session in 1961.
SECTION 6: That the form of said bond shall be for the CITY OF :YLIE,
TEXAS, STREET IMPROVEMENT BOND SERIES 1964.
The Proposed 1964-1965 Budget for the City of Wylie was thoroughly dis-
cussed and studied.
Motion was made by Councilman Onstot and seconded by Councilman St. John
that the proposed Budget for 196L -1965, totalling 133,856.00 be adopted.
Motion carried unanimously.
Mayor Hampton set Tuesda r August, 25, 1964, at 7 : 00 OTClock P M for a
Public hearing on the 1964-1965 Budget.
With no Further business the meeting adjourned.
May r, City of 'die, Texas
ATTEST:
City Secretary, Cit of Wylie, Texas
CITY OF Vcr Y"I.,I E PHONE: 394-2236
109 WEST OAK STREET
MAYOR WYLIE,TEXAS
0 W.HAMPTON
COUNCILMEN
R D.ONSTOT
(Mayor Protem) August 18, 196)i J.T.HICKMAN
CT,SHIELDS
M K.ST JOHN
CARL WARD
CITY MANAGER
JACK H.WHITT
CITY SECRETARY
MRS ONEIDA GALLAGHER Honorable City Council
CITY ATTORNEY City of Wylie
JOHN E GAY Wylie, Collin County, Teas
WATER SUPERINTENDENT
W.A ALLEN
FIRE MARSHALL
GLENN DANIEL Gentlemen:
I have this date, 18th day of August 1964 called
a s-oocial neetinL at 7: 00 o' clock -21. for the
D Y/
express -purpose of ao .LvIIITIng the 1964 - 1965 Budget
and also to meet with Mr. Frank Eedanich of the
First Southwest Company in reference to the ', 00000.00
Street Bond Ordanance.
•
This meeting is so ordered and by your signature
below you do consent to this special meeting and by
the attest of the City eci-eta-z7 aa(j_ a-9: ; 'icr,tior, of
seal to ths official cocuent so order its entl-ace
into the polanent accord of the City of fylie as an
official, action of the governing body of this the City
of Wylie, Collin, Texas ,
/ // / , - , , ; 0. h. Lampto , Mayor
R. mayor Pro Tem
,4----.,
' 4'1; '- .
L. K. St. qo'inn, Councilman
J.4- , icman, uouncliman
Carl Ward, Councilman
C . T. Sk ' lds, Councilman
6'(--24
S C/
EAL "Iiu L ilk ,:„,-/------ c). -Z_L L /
Attest: Mrs . Oneida Gallapher,
r', City Secretary