07-08-1980 (City Council) Minutes REGULAR COUNCIL MEETING
JULY 8, 1980
7:00 P.M.
Present were Mayor John Akin, Mayor Pro-Tem Hall , Councilmen Hughes,
Kreymer, Eavenson and Martin, City Manager Vickers, City Secretary
Connelly, Chief of Police Abbott, Mr. and Mrs. Melvin Hilton, Mr.
Micky Huffman, Mr. Ted Kent, Mr. Frank Medanich and John Crew of
First Southwest, Mr. Denny Lynes and Mr. Don Kreymer.
Mayor Pro-Tem Hall made motion to approve previous minutes and
accounts payable. Councilman Martin seconded, all in favor.
Mayor Pro-Tem Hall made motion to adopt Ordinance authorizing issu-
ance of "City of Wylie, Texas, Certificate of Obligation, Series 1980. "
Councilman Hughes seconded, all in favor.
Councilman Martin made motion to adopt ordinance annexing elevated
water tower site on Old Sachse Road. Councilman Hughes seconded, all
in favor.
Mayor Pro-Tem Hall made motion to adopt resolution authorizing
Planning Contract with Texas Department of Community Affairs.
Councilman Hughes seconded, all in favor.
Mayor Pro-Tem Hall made motion to adopt resolution approving a de-
pository bank agreement with First State Bank. Councilman Kreymer
seconded, all in favor.
Councilman Martin made motion to approve the emergency purchase of
new patrol car for Police Department. Councilman Eavenson seconded,
all in favor.
Departmental reports were presented to Council .
Mr. and Mrs. Hilton and Mr. Huffman made request for a re-hearing
before the Planning & Zoning Commission on July 24, 1980 in regards
to the zoning of property owned by Mrs. Hilton on S. Birmingham.
Council decision was for a re-hearing to be granted.
Council recommended that a new radio for ambulance to be considered
for next year's budget.
ohn W. Akin, ayor
I
Sarah Connelly, City Secretary
NOTICE OF INTENTION TO ISSUE
CITY OF WYLIE, TEXAS
CERTIFICATES OF OBLIGATION
TAKE NOTICE , that the City Council of the City of
Wylie, Texas , shall convene at 7:00 o' clock P .M. on the
8th day of July, 1930 , at its regular meeting place in the
City Hall of said City, and, during such meeting, consider
the passage of an ordinance authorizing the issuance of
certificates of obligation of said City in an amount not to
exceed $130 ,000 for the purpose of purchasing land for
authorized needs and purposes , to wit : City parks , and to
pay a contract for professional services of a financial
advisor , such certificates of obligation to be payable from
ad valorem taxes .
This notice is given pursuant to authority conferred by
the City Council of the City of Wylie , Texas , and in accordance
with the requirements of Article 2368a. 1, V.A. T. C. S .
7
ity Secretary , ity of Wy i ,
Texas
MINUTES PERTAINING TO PASSAGE AND ADOPTION OF ORDINANCE
AUTHORIZING THE ISSUANCE OF $130, 000 "CITY OF WYLIE, TEXAS ,
CERTIFICATES OF OBLIGATION, SERIES 1980" , DATED JULY 15 , 1980
THE STATE OF TEXAS §
COUNTY OF COLLIN §
CITY OF WYLIE §
ON THIS , the 8th day of July, 1980 , the City Council of
the City of Wylie , Texas , convened in regular session at the
regular meeting place thereof in the City Hall , the meeting
being open to the public and notice of said meeting having
been given as prescribed by Article 6252-17 , Section 3A,
V.A.T. C . S . , with the following members being present and in
attendance, to wit :
JOHN W. AKIN MAYOR
WILLIAM MARTIN )
HAROLD EAVENSON )
ROY HALL ) ALDERMEN
Do 1J ..HUGHE S )
ROWLAND KREYMER )
and with the following absent:
constituting a quorum; and among other business considered at saia
meeting, an ordinance was submitted to the City Council for
passage and adoption, such ordinance being entitled as follows :
"AN ORDINANCE by the City Council of the City of
Wylie, Texas , authorizing the issuance of
$130 , 000 ' CITY OF WYLIE , TEXAS , CERTIFICATES
OF OBLIGATION, SERIES 1980 ' , dated July 15 , 1980 ;
prescribing the form of the certificates and the
form of the interest coupons ; levying a continuing
direct annual ad valorem tax on all taxable property
within the limits of the City to pay the interest
on said certificates and to create a sinking fund
for the redemption thereof and providing for the
assessment and collection of such taxes ; enacting
other provisions incident and related to the
subject and purpose of this ordinance ; and
declaring an emergency. "
The ordinance was read in full . Thereupon, Alderman
H -ik• made a motion that the ordinance be finally
passed and adopted as an emergency measure for the reasons set
forth in Section 15 thereof, and therefore, suspend any rule
requiring ordinances to be read more than one time or at more
than one meeting . The motion was seconded by Alderman ki9VEA1 ai/
and carried by the following vote:
AYES : Aldermen Martin, Eavenson, Hall, Hughes and Kreymer .
NOES : None .
Presiding Officer then announced that the ordinance had
' v passed and adopted.
AN ORDINANCE by the City Council of the City of
Wylie, Texas , authorizing the issuance of
$130, 000 "CITY OF WYLIE, TEXAS , CERTIFICATES
OF OBLIGATION, SERIES 1980", dated July 15 , 1980 ;
prescribing the form of the certificates and the
form of the interest coupons ; levying a continuing
direct annual ad valorem tax on all taxable property
within the limits of the City to pay the interest
on said certificates and to create a sinking fund
for the redemption thereof and providing for the
assessment and collection of such taxes; enacting
other provisions incident and related to the
subject and purpose of this ordinance ; and
declaring an emergency .
WHEREAS , pursuant to a resolution adopted on the 3rd day of
June, 1980 , the City Council of the City of Wylie, Texas ,
approved and authorized the giving of notice of the Council ' s
intention to issue certificates of obligation in an amount not
to exceed $130 , 000 for the purpose of purchasing land for autho-
rized needs and purposes , to wit: City parks , and to pay a contract
for professional services of a financial advisor, such certificates
to be payable from ad valorem taxes ; and
WHEREAS , said notice of intention to issue certificates of
obligation has been duly published in the WYLIE NEWS
, a newspaper of general circulation in the
City of Wylie, Texas , on the 12th day of June, 1980 and the
•- 19th day of June, 1980, the date of the first publication of
such notice being at least fourteen (14) days prior to the date
stated therein for the passage of this ordinance; and
WHEREAS , no petition of any kind or character has been
filed with the City Secretary, any member of the Council or
any other officer of the City, protesting the issuance of said
certificates of obligation and requesting a referendum election
be held on the issuance of the same; and
WHEREAS , this City Council hereby finds and determines
that all of the certificates described in the aforementioned
notice should be issued and sold at this time; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WYLIE,
TEXAS :
SECTION 1 : That, for the purpose of purchasing land for
authorized needs and purposes , to wit: City parks , and to pay a
contract for professional services of a financial advisor, there
shall be and there is hereby ordered to be issued a series of
certificates of obligation of the City of Wylie, Texas , in the
aggregate principal amount of ONE HUNDRED THIRTY THOUSAND
DOLLARS ($130 , 000) , to be designated "CITY OF WYLLIE , TEXAS ,
CERTIFICATES OF OBLIGATION, SERIES 1980", under and pursuant to
authority conferred by the Constitution and laws of the State of
Texas, particularly Article 2368a. 1 , V.A.T.C . S .
SECTION 2 : That said certificates shall be dated July 15 ,
1980 ; shall be numbered consecutively from One (1) through
Twenty-Six (26) ; shall each be in the denomination of Five
Thousand Dollars ($5 , 000) , and shall become due and payable
serially , without right of prior redemption, on July 15 in each
of the years and bear interest at the per annum rate(s) in
CERTIFICATE NUMBERS INTEREST
(All Inclusive) YEAR AMOUNT RATE
1 and 2 1983 $10, 000 7.75
3 and 4 1984 10 , 000 7,75 %
5 and 6 1985 10 , 000 7.75 7,
7 and 8 1986 10 , 000 7.75 %
9 to 11 1987 15 , 000 8.UU %
12 to 14 1988 15 , 000 8.25 %
15 to 17 1989 15 , 000 8.25 %
18 to 20 1990 15 , 000 8.50 %
21 to 23 1991 15 , 000 8.50 7a
24 to 26 1992 15 , 000 8.50 %
SECTION 3 : That said certificates shall bear interest
from date until paid, at the per annum rate(s) shown above,
such interest to be evidenced by proper coupons attached to
each of said certificates, and said interest shall be payable
on January 15 , 1981, and semiannually thereafter on July 15
and January 15 in each year.
SECTION 4: That both principal of and interest on said
certificates shall be payable in lawful money of the United
States of America, without exchange or collection charges to the
owner or holder, at FIRST STATE BANK OF WYLIE, TEXAS
, upon presentation and surrender
of certificates or proper coupons .
SECTION 5 : That the seal of said City may be impressed on
each of said certificates , or in the alternative, a facsimile
of such seal may be printed on the said certificates . The
certificates and interest coupons appurtenant thereto may be
executed by the imprinted facsimile signatures of the Mayor
and City Secretary of the City, and execution in such manner shall
have the same effect as if such certificates and coupons had
been signed by the Mayor and City Secretary in person by their
manual signatures . Inasmuch as such certificates are required
to be registered by the Comptroller of Public Accounts for the
State of Texas, only his signature (or that of a deputy designated
in writing to act for the Comptroller) shall have required to be
manually subscribed to such certificates in connection with
his registration certificate to appear thereon, as hereinafter
provided; all in accordance with the provisions of Article
717j-1, V.A. T.C. S.
SECTION 6 : That the form of said certificates shall be
substantially as follows :
NO. UNITED STATES OF AMERICA $5,000
STATE OF TEXAS
COUNTY OF COLLIN
CITY OF WYLIE, TEXAS,
CERTIFICATE OF OBLIGATION, SERIES 1980
The CITY OF WYLIE, a municipal corporation of the State of
Texas , acknowledges' itself indebted to and FOR VALUE RECEIVED
hereby promises to pay to bearer, without right of prior redemption, the stain of
FIVE THOUSAND DOLLARS
•
BOTH PRINCIPAL AND INTEREST are payable only upon presentation
r and surrender of this certificate and the interest coupons hereto
attached as the same severally become due at FIRST STATE BANK
WYLIE, TEXAS , without
exchange or collection charges to the owner or holder, and the
bearer of this certificate and the appurtenant interest coupons
shall be deemed the absolute owner thereof for purposes of
receiving payment , and neither the City nor the aforementioned
place of payment shall be affected by any notice to the
contrary.
THIS CERTIFICATE OF OBLIGATION is one of a series of
certificates , dated July 15 , 1980 , numbered consecutively from
One (1) through Twenty-Six (26) , each in the denomination of
Five Thousand Dollars ($5 , 000) , aggregating in principal amount
ONE HUNDRED THIRTY THOUSAND DOLLARS ($130 , 000) , issued for the
purpose of purchasing land for authorized needs and purposes ,
to wit : City parks , and to pay a contract for professional
services of a financial advisor, in accordance with the
Constitution and laws of the State of Texas , particularly
Article 2368a . 1 , V.A.T. C . S . , and pursuant to an ordinance
passed by the City Council of the City of Wylie, Texas , which
ordinance is of record in the Minutes of said City Council .
IT IS HEREBY CERTIFIED, RECITED AND REPRESENTED that all
acts, conditions and things required to be done precedent to and
in the issuance of this certificate of obligation, and the series
of which it is one, to render the same lawful and valid have been
properly done, have happened, and have been performed in regular
and due time, form and manner as required by law; that a direct
annual ad valorem tax, sufficient to pay the interest on this
certificate and the principal hereof at maturity has been levied
upon all taxable property in the City, and will continue to be
levied and collected and applied to the payment thereof; and
that the total indebtedness of said City, including this
certificate and the series of which it is one, does not exceed
any constitutional or statutory limitation.
IN TESTIMONY WHEREOF, the City Council of the City of Wylie,
Texas, in accordance with the provisions of Article 717j-1,
V.A. T. C. S . , has caused the seal of said City to be impressed
or a facsimile thereof to be printed hereon and authorized and
directed this certificate and the interest coupons attached
hereto to be signed and countersigned by the facsimile signatures
of the Mayor and City Secretary.
Mayor, City of Wylie, Texas
COUNTERSIGNED :
City Secretary, City of
Wylie, Texas
SECTION 7 : That the form of interest coupons attached
to each of said certificates shall be substantially as follows :
NO. ON THE FIFTEENTH DAY OF $
, 19
the CITY OF WYLIE , a municipal corporation in the County of
Collin, State of Texas, hereby promises to pay to bearer the amount
shown hereon in lawful money of the United States of America,
SECTION 8 : That the following certificate shall be printed
on the back of each certificate:
OFFICE OF COMPTROLLER §
§ REGISTER NO.
STATE OF TEXAS §
I HEREBY CERTIFY that there is on file and of record in
my office a certificate of the Attorney General of the State of
Texas to the effect that this certificate of obligation has been
examined by him as required by law and that he finds that it has
been issued in conformity with the Constitution and laws of the
State of Texas , and that it is a valid and binding obligation of
the City of Wylie, Texas , and said certificate has this day been
registered by me .
WITNESS MY HAND AND SEAL OF OFFICE, at Austin, Texas,
Comptroller of Public Accounts
of the State of Texas
SECTION 9 : That to provide for the payment of the debt
service requirements on the said certificates , being (i) the
interest on said certificates and (ii) a sinking fund for their
redemption at maturity or a sinking fund of 27 (whichever amount
shall be greater) , there shall be and there is hereby levied for
the current year and each succeeding year thereafter while said
certificates or interest thereon remain outstanding and unpaid, a
sufficient tax on each one hundred dollars ' valuation of taxable
property in said City, adequate to pay such debt service require-
ments , full allowance being made for delinquencies and costs of
collection; said tax shall be assessed and collected each year
and applied to the payment of the said debt service requirements ,
and the same shall not be diverted to any other purpose . The _
taxes so levied shall be paid into a special fund known as
"SPECIAL SERIES 1980 CERTIFICATE OF OBLIGATION FUND' , which is
hereby established for the payment of the obligations herein
authorized and shall be maintained at the City s depository
bank. The City Council hereby declares its purpose and intent
to provide and levy a tax legally and fully sufficient for
such certificates , it having been determined that the existing
and available taxing authority of the City for such purpose is
adequate to permit a legally sufficient tax in consideration of
all other outstanding indebtedness .
SECTION 10 : That the sale of the certificates herein
authorized to FIRST STATE BANK OF WYLIE, TEXAS
at the price of par and accrued interest to the date of
delivery, plus a premium of $ -0- , is hereby confirmed.
Delivery of the certificates shall be made to said purchasers
as soon as may be after the adoption of this ordinance, upon
payment therefor in accordance with the terms of sale .
SECTION 11 : That the purchasers ' obligation to accept
delivery of the certificates herein authorized is subject to
their being furnished a final opinion of Messrs . Dumas , Huguenin,
Boothman and Morrow, Attorneys , Dallas , Texas , approving such
certificates as to their validity, said opinion to be dated
SECTION 12 : That the City hereby certifies and covenants
that the proceeds of the certificates are needed at this time to
finance the costs of acquiring land for park purposes ; based on
current facts , estimates and circumstances, it is reasonably
expected final disbursement of the certificate proceeds will
occur within three years from the date of the receipt thereof
by the City; it is not reasonably expected the proceeds of the
certificates or moneys deposited in the interest and sinking
fund created for the payment of the certificates will be used
or invested in a manner that would cause the certificates to
be "arbitrage bonds" within the meaning of Section 103 (c) of the
Internal Revenue Code of 1954, as amended, or any regulations
or published rulings pertaining thereto ; and save and except for
the interest and sinking fund created herein, no other funds or
accounts have been established or pledged to the payment of the
certificates . Proper officers of the City charged with the
responsibility in the issuance of the certificates are hereby
authorized and directed to make, execute and deliver certifi-
cations as to facts , estimates and circumstances in existence
as of the date of the issue of the certificates and stating
whether there are any facts , estimates or circumstances which
would materially change the City' s current expectations, and
the covenants herein made and certifications herein authorized
are for the benefit of the holders of the certificates and
coupons appertaining thereto and may be relied upon by the holders
of the certificates and bond counsel for the City.
SECTION 13 : That the Mayor of said City shall be and
is hereby authorized to take and have charge of all necessary
orders and records pending investigation by the Attorney
General of the State of Texas , and shall take and have charge
and control of the certificates herein authorized pending their
approval by the Attorney General and their registration by the
Comptroller of Public Accounts .
SECTION 14: That CUSIP numbers may be printed on the
certificates herein authorized. It is expressly, provided,
however, that the presence or absence of CUSIP numbers on the
certificates shall be of no significance or effect as regards
the legality thereof and neither the City nor attorneys approving
said certificates as to legality are to be held responsible for
CUSIP numbers incorrectly printed on the certificates .
SECTION 15 : That the public importance of this measure and
the fact that it is to the best interest of the City to provide
a means of payment for the purchase of land to be acquired for •
park purposes immediately, constitute and create an emergency,
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 effect as an emergency measure, and such rules and pro-
visions are 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 8th day of July, 1980 .
Ma , City of Wylie, Texas
ATTEST:
MINUTES PERTAINING TO A RESOLUTION APPROVING, RATIFYING
AND CONFIRMING THE EXECUTION OF A CONTRACT FOR
PROFESSIONAL SERVICES OF A FINANCIAL ADVISOR
THE STATE OF TEXAS §
COUNTY OF COLLIN §
CITY OF WYLIE §
ON THIS , the 8th day of July, 1980 , the City Council of
the City of Wylie, Texas , convened in regular session at the
regular meeting place thereof in the City Hall, the meeting
being open to the public and notice of said meeting having been
given as prescribed by Article 6252-17, Section 3A, V.A.T . C. S . ,
with the following members being present and in attendance,
to wit :
JOHN W. AKIN MAYOR
WILLIAM MARTIN )
HAROLD EAVENSON )
ROY HALL ) ALDERMEN
JAMES HUGHES )
ROWLAND KREYMER )
and with the following absent:
constituting a quorum; and among other business considered at said
meeting, a resolution was submitted to the City Council for
passage and adoption, such resolution being entitled as follows :
"A RESOLUTION by the City Council of the City of
Wylie, Texas , approving, ratifying and confirming
the execution of a contract for professional
services of a financial advisor. "
The resolution was read in full . Thereupon, Alderman
/68 made a motion that the resolution be finally
passed and adopted. The motion was seconded by Alderman
f/U C S and carried by the following vote:
/AYES : Aldermen Martin, Eavenson, Hall, Hughes and Kreymer.
NOES : None.
The Presiding Officer then announced that the resolution
had been finally passed and adopted.
MINUTES APPROVED, this the 8th day of July, 1980 .
M or, City lexas
ATT ST:
//27
ity Secretary, City of
Wylie, Texas