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HomeMy WebLinkAbout67-189 08-22-1967 a.. Now RESOLUTION NO. 189 RESOLUTION RATIFYING, CONFIRMING AND APPROVING INVESTMENT OF CITY OF EULESS, TEXAS, WATER WORKS AND SEWER RESERVE BOND FUNDS. WHEREAS, the City of Euless, on the 29th day of July , 1965 authorized the issuance of City of Euless Water Works and Sewer System Reserve Bonds for the purchase from Municipal Service Company of the privately owned water and sewer systems serving the City of Euless and Bedford and surrounding areas, and WHEREAS, City of Euless Ordinance No. 257 adopted by the Euless City Council on the 29th day of July , 1965, requires that the City of Euless pay from the general revenues derived from the operation of such water and sewer system the sum of $1500.00 per month to the Bankers Trust Company of New York City, New York, into a reserve Fund for the retirment of such bonds, and WHEREAS, the governing body of the City of Euless has determined that it is to the best interest of the City of Euless to make interim investment of such reserve funds not presently required to be paid in retirement of such bond issue, and WHEREAS, it is anticipated that such interim investment of such funds will yield interest which will benefit the citizens of Euless, Texas, and WHEREAS, the Euless City Council deems and finds it necessary and to the public interest to direct the Bankers Trust Company of New York City, New York, to make an investment of $6000.00 of such reserve funds in United States Treasury Bonds bearing interest at the rate of 44% , and maturing on May 15, 1974, and ITEM IX Council Minutes August 22, 1967 WHEREAS, such investment by the Bankers Trust Company of New York City, New York is to be made in United States Treasury Bonds which mature at such times as may be required to retire the above said bond issue, and WHEREAS, the bond indenture and Ordinance No. 257 passed by the City of Euless on the 29th day of July , 1965, requires that the interest and income derived from the investment of such reserve funds shall be paid into and accumulated in such reserve fund: NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EULESS, TEXAS: 1 . That the Bankers Trust Company of New York City, New York, be, and the same is hereby authorized and directed to purchase United States Treasury Bonds with $6000,00 of such water and sewer bond reserve funds, such Treasury Bonds bearing interest at the rate of i+- , and maturing May 15, 1974; 2. That the income, interest and revenues derived from the investment of such water and sewer reserve funds shall be paid back into and accumulated in such water and sewer reserve fund for the purpose of retiring the water and sewer system bond issue of the 15th day of July , 1965. PRESENTED AND PASSED on the 22nd day of August, 1967, by a vote of 4 ayes and 0 nays at a Regular Meeting of the Euless City Council . APPROVED: ATTEST: rc L-� C, -- /7 Mayor l City Secretary ITEM IX Council Minutes August 22, 1967 vow -Nor COUNCIL COMMUNICATION FROM: CITY MANAGER August 18, 1967 SUBJECT: RESOLUTION NO. 189 Resolution Po. 189 authorizes the investment of Water Works and Sewer Reserve Bond Funds, We are requesting Council authority to direct Bankers Trust Company of New York City to invest $6000.00 of the Reserve Bond Funds in United States Treasury Bonds. C. J. Griggs VF:vp ITEM IXIi Council Minutes August 22, 1967 .r „ry CITY PLANNING AND ZONING COMMISSION RESOLUTION NO. 189 A RESOLUTION MAKING RECOMMENDATIONS AND REPORT TO THE CITY COUNCIL CONCERNING CERTAIN PROPOSED CHANGES IN ORDINANCE NO. 347, (ZONING ORDINANCE) OF THE CITY OF EULESS, TEXAS BE IT RESOLVED BY THE CITY PLANNING AND ZONING COMMISSION OF EULESS, TEXAS: 1 . THAT after public hearing, careful study and consideration of the proposed amendments, supplements, changes, modifications, or repeals (hereinafter called "changes") to Ordinance No. 347, (Zoning Ordinance) of the City of Euless, Texas, as specified in Exhibit "A1' attached and made a part of this resolution, the City Planning and Zoning Commission is of the opinion and recommends that such changes be approved by the City Council . 2. THAT a signed copy of this resolution shall be delivered to the City Council , and shall constitute the report and recommendation of the City Planning and Zoning Commission. ADOPTED this 5th day of October , 19 71 • CITY PLANNING AND ZONING COMMISSION BY: ATTEST: Chairman Secretary ITEM III Council Minutes October 26, 1971 E X H I B I T THAT the zoning classification of the following described property, now zoned "C-2" Community Business District be changed to "PD" Planned Development District The following described tract or parcel of land being situated in the J. P. Halford Survey, A-711 , Tarrant County, Texas and being more particularly described as follows : BEGINNING at the intersection of the East line of Ector Drive with the North line of State Highway No. 350; THENCE N OD 38' E along the East line of said Ector Drive a distance of 27.95 feet to the beginning of a circular curve to the left having a radius of 650.86 feet; THENCE northwesterly along said curve and along the East line of said Ector Drive a distance of 307.29 feet to the Southwest corner of Tract 2, Cripple Creek Addition, to the City of Euless, Tarrant County, Texas according to plat recorded on Page 38 of Volume 388-67 in the Tarrant County Deed Records; THENCE East along the South line of said Tract 2 a distance of 225. 1 feet to ti-,a Southeast corner of said Tract 2; THENCE North a distance of 327.55 feet; THENCE East a distance of 244.35 feet to the West line of Euless Junior r,, ign School tract; THENCE S Co 38 ' W along the West line of said Euless Junior High School tract a ; stance of 617.67 feet to the North line of said State Highway No. 350 ; sa radius of 6 L heir,, on a curve having a ra 555 .50 feet; THENCE S 853 46 49" W along the North line of said State Highway ,'a. 350 ..,... along said curve having a chord distance of 396.32 feet an arc d .uce feet to place of beginning, containing 4.78 acres of land more or less.