HomeMy WebLinkAbout299 02-28-1967ORDINANCE AUTHORIZING ISSUANCE OF $2,200,000
"CITY OF EULESS, TEXAS, WATERWORKS AND SEWER
SYSTEM REVENUE REFUNDING BONDS, SERIES 1967 "1
DATED JANUARY 15, 1967
THE STATE OF yE'.,AS x
A
CITY OF EULESS
COUNTY OF TARRANT
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ON THIS, the 28th day of February, 1967, the City
Council of the City of Euless, Texas, convened in regular
session at the regular meeting place thereof in the City Hall,
there being present and in attendance the following members:
W. G. FULLER MAYOR
BOBBY R. FULLER )
BILLY L. BYERS )
FRANK E. DOUGLASS ) COUNCILMEN
HAROLD D. SAMUELS )
DON R. WARREN )
and
(MRS.) VADA FERRIS CITY SECRETARY
also being present, and with the following absent: None
constituting a quorum, at
which time the following among other business was transacted, to
wit:
ji Mayor Fuller introduced a proposed ordinance. The ordi-
nance was read in full.
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Councilman Douglass made a motion that the
Charter provision requiring ordinances to be read at two regular
Council meetings be suspended. The motion was seconded by Council-
man Samuels and carried by the following vote:
AYES: Councilmen Fuller, Byers,
Douglass, Samuels and Warren.
NAYS: None.
Councilman Douglass made a motion that the ordi-
nance be passed finally as sn emergency measure. The motion was j
ronded by Councilman Samuel s and carried by the follow-
',
vote:
AYES: Councilmen Fuller, Byers,
Douglass, Samuels and Warren.
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NAYS: None.
passed.
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The Mayor announced that the ordinance had been finally
The ORDINANCE is as follows:
"AN ORDINANCE by the City Council of the City of
Euless, Texas, authorizing the issuance of
$2,200,000 'CITY OF EULESS, TEXAS, WATERWORKS
AND SEWER SYSTEM REVENUE REFUNDING BONDS, SERIES
1967', dated January 15, 1967, for the purpose
of refunding, cancelling and in lieu of a like
amount of valid and subsisting special obligation
indebtedness of said City evidenced by $2,200,000
'City of Euless, Texas, Waterworks and Sewer
System Revenue Bonds, Series 1965 -A', dated
July 15, 1965; prescribing the form of the refund-
ing bonds and the form of the interest coupons;
pledging the net revenues of the City's combined
Waterworks and Sanitary Sewer System to the payment
of the principal of and interest on said bonds;
enacting provisions incident and relating to the
subject and purpose of this ordinance; and declar-
ing an emergency.
WHEREAS, pursuant to authority conferred and proceedings
;uly had in the manner prescribed by law, the City of Euless, Texas,
,has heretofore authorized, issued and sold the following special
obligation bonds of the City payable from and equally secured by a
irst lien on and pledge of the net revenues of the City's combined
i aterworks and Sanitary Sewer System:
"CITY OF EULESS, TEXAS, WATERWORKS AND SEWER
SYSTEM REVENUE BONDS, SERIES 1965 ", dated
July 15, 1965, in the original principal
amount of $3,600,000; and
"CITY OF EULESS, TEXAS, WATERWORKS AND SEWER
SYSTEM REVENUE BONDS, SERIES 1965 -A ", dated
July 15, 1965, in the original principal
amount of $2,200,000;
AND WHEREAS, the City Council of the City of Euless,
Texas, deems it advisable and to the best interests of the City and
,its inhabitants to refund the Series 1965 -A bonds and such bonds
may be refunded without impairing in any way the obligation of
,contract with the holders of the Series 1965 bonds outstanding;
itherefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF EULESS:
SECTION 1: Authorization - Princi al Amount - Designa-
'ition. That the bonds of the City of Euless, Texas, be and same are
j ereby ordered to be issued in the principal amount of TWO MILLION
;'TWO HUNDRED THOUSAND DOLLARS ($2,200,000), to be known as "CITY OF
EULESS, TEXAS, WATERWORKS AND SEWER SYSTEM REVENUE REFUNDING BONDS,
SERIES 1967 ", for the purpose of refunding, cancelling, and in lieu
oL a like amount of valid and subsisting special obligations of
s-id City evidenced by $2,200,000 "City of Euless, Texas, Water -
wo,rks and Sewer System Revenue Bones, Series 1965 -A ", da -ced July 15,
x;65; such refunding bonds to be issued under and in strict con -
.ormity with the Constitution and laws of the State of Texas, par -
-icularly Article 1111 et seqq., V.A.T.C.S.; which said series of
bonds, together with the outstanding and unpaid Series 1965 Water-
works and Sewer System Revenue Bonds,shall be payable as to both
principal and interest solely from and equally secured by a first
.en on and pledge of the revenues of the City's combined Waterworks
sand Sanitary Sewer System, after deduction of reasonable expenses
of operation and maintenance, as said expenses are defined by
statute, hereinafter referred to as "net revenues ".
SECTION 2: Date - Numbers - Maturities - Option. That
said bonds shall be dated January 15, 1967; shall be numbered con -
,secutively from One (1) through Four: Hundred Forty (440); shall be
in the denomination of Five Thousand Dollars ($5,000) each, aggre-
_ating the principal sum of TWO MILLION TWO HUNDRED THOUSAND DOLLARS
($2,200,000); and shall become due and payable serially on July 15
,in each of the years in accordance with the following schedule:
BOND NUMBERS
(All Inclusive) MATURITY AMOURi
1
to
5
1973
$ 25,000
6
to
11
1974
30,000
12
to
18
1975
35,000
19
to
25
1976
35,000
26
to
32
1977
35,000
33
to
40
1973
40,000
41
to
48
1979
40,000
49
to
56
1980
403000
57
to
65
1981
45,000
66
to
74
1982
45,000
75
to
83
1983
45,000
84
to
93
1984
501000
94
to
103
1985
50,000
104
to
114
1986
55,000
115
to
125
1987
55,000
126
to
137
1938
601000
138
to
149
1989
60,000
150
to
162
1990
65,000
163
to
175
1991
65,000
176
to
189
1992
70)000
190
to
203
1993
70,000
204
to
218
1994
75,000
219
to
234
1995
80,000
235
to
251
1996
85,000
252
to
268
1997
85,000
269
to
286
1998
90,000
287
to
305
1999
95,000
306
to
325
2000
100,000
326
to
346
2001
105,000
347
to
368
2002
110,000
369
to
391
2003
115,000
392
to
415
2004
120,000
416
to
440
2005
125,000
;PROVIDED, HOWEVER, the City reserves the right to redeem bonds
maturing in each of the years 1983 through 2005 of said series, in
whole or in part, but in inverse numerical order if less than all,
on July 15, 1982, or on any interest payment date thcrea-fter, at
the price of par and accrued interest to the date fixed for redemp-
tion, plus a premium of 4% on all bonds called for redemption on
-" -Iy 15, 1982 or January 15, 1983, such premium reducing 17. on each
July 15th thereafter until such bons are finally optional at par
plus accrued interest on July 15, 19�6 or on any interest payment
rate thereafter; and PROVIDED, FURiiER, that at least thirty (30)
days prior to any interest payment date upon which any of said
bonds are to be redeemed, a notice of redemption, signed by the
:,City Secretary (specifying the serial numbers and amount of bonds
-�to be redeemed) shall have been published once in a financial
(journal of general circulation, published in the City of New York,
New York, and shall have been filed with BANKERS TRUST COMPANY,
,New York, New York (the paying agent named in each of said bonds).
(Should any bond or bonds not be presented for redemption pursuant
to such notice, and if by the date so fixed for redemption the City
shall have made available funds sufficient to pay such bonds and
accrued interest thereon to the redemption date, plus the specified
premium, if any, the same shall cease to bear interest from and
after the date so fixed for redemption.
SECTION 3: Interest. That said bonds shall bear inter-
est from date to maturity at the rate of FOUR AND ONE -HALF PER
�
ENTUM (4 -1/2 %) per annum; such interest to be evidenced by proper
coupons attached to each of said bonds, and said interest shall be
,payable on July 15, 1967 and semi - annually thereafter on January 15
!sand July 15 in each year.
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SECTION 4: Place of Payment. That both principal of
+ ond interest on this issue of bonds shall be payable in lawful money
bf the United States of America, without exchange or collection
,charges to the owner or holder, at BANKERS TRUST COMPANY, New York,
:New York, upon presentation and surrender of bonds or proper coupons.
SECTION 5: Execution of Bonds and Coupons. The seal of
paid City may be impressed on each of said bonds or, in the alter -
native, a facsimile of such seal may be printed on the said bonds.
The bonds and interest coupons appurtenant thereto may be executed
by the imprinted facsimile signatures of the Mayor and City Secre-
tary of the City and execution in such manner shall have the same
effect as if such bonds and coupons had been signed by the Mayor
and City Secretary in person by their manual signatures. Inasmuch
as such bonds are required to be registered by the Comptroller of
blic Accounts for the State of Texas, only his signature (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 Article 717j -1,
V.A.T.C.S.
SECTION 6: Form of Bonds. That the form of said bonds
shall be substantially as follows:
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UNITED STATES G:' A_.%RICA
STATE OF TEXAS
COUNTY OF TARRANT
CITY OF EULESS, TEXAS, WATERWORKS AND SEWER SYSTEM
REVENUE REFUNDING BOND, SERIES 1967
$5,000
The CITY OF EULESS, a mranicipal corporation of the State
of Texas, acknowledges itself indebted to and, FOR VALUE. RECEIVED,
hereby promises to pay to bearer, as hereinafter stated, the sum of
FIVE TnOUSAND DOLLARS
($5,000), in lawful money of the United States of America, on the
FIFTEENTH DAY OF JULY, , with interest thereon from the date
hereof to maturity at the rate of FOUR AND ONE -HALF PER CENTUM
(4 -1/2 %) per annum, payable on July 15, 1967, and semi - annually
thereafter on January 15 and July 15 in each year, and interest
Zalling due on or prior to maturity hereof is payable only upon
;presentation and surrender of the interest coupons hereto attached
as they severally become due.
BOTH PRINCIPAL of and interest on this bond are hereby
made payable at BANKERS TRUST COMPANY, New York, New York, without
-xchange or collection charges to the owner or holder, and the City
of Euless, Texas, is hereby held and firmly bound to apply the
pledged appropriated revenues of its combined Waterworks and Sani-
zary Sewer System to the prompt payment of principal of and interest
ter, this bond at maturity, and to pay said principal and interest as
they mature.
THIS BOND is one of a series of bonds of like tenor and
,."feet, except as to number, right of prior redemption and maturity,
_:,gregating in amount 'lWU M1LLlUiV '1'WU nU1VllKtll 'lnUUSANll llULLA.`t6
$2,200,000), numbered consecutively from One (1) through Four
Hundred Forty (440), each in denomination of Five Thousand Dollars
x$5,000), issued for the purpose of refunding, cancelling, and in
i -eu of a like amount of valid and subsisting special obligations
Of the City evidenced by $2,200,000 "City of Euless, Texas, Water-
works and Sewer System Revenue Bonds, Series 1965 -A ", dated July 15,
1965, in accordance with the Constitution and laws of the State of
-exas, particularly Article 1111 et seqq., V.A.T.C.S., and pursuant
an ordinance passed by the City Council of the City of Euless,
texas, and duly recorded in the Minutes of said City Council.
AS SPECIFIED in the ordinance hereinabove mentioned, the
;ity reserves the right to redeem bonds maturing in each of the
years 1983 through 2005 of this series, in whole or in part, but in
11 inverse numerical order if less than all, on July 15, 1982, or on
any interest payment date thereafter, at the price of par and
accrued interest to the date fixed for redemption, plus a premium
f 4% on all bonds called for redemption on July 15, 1982 or Janu-
-y 15, 1983, such premium reducing 1% on each July 15th thereafter
•ntil such bonds are finally optional at par plus accrued interest
Dn July 15, 1986 or on any interest payment date thereafter; PRO -
JIDED, HOWEVER, that at least thirty (30) days prior to any interest
',payment date upon which any of said bonds are to be redeemed, a
jnotice of redemption, signed by the City Secretary (specifying the
serial numbers and amount of bonds to be redeemed) shall have been
;published once in a financial journal of general circulation, pub -
�lished in the Citv of New York, New Yogi:, and shall have been filed
!with BANKERS TRUST COMPANY, New York, :dew York. Should any bond or
.bonds not be presented for redemption pursuant to such notice, and
if by the date so fixed for redemption the City shall have made
lavailable funds sufficient to pay such bonds and accrued interest
thereon to the redemption date, plus the specified premium, if any,
the same shall cease to bear interest from and after the date so
fixed for redemption.
THE DATE of this bond in conformity with the ordinance
above mentioned is January 15, 1967.
THIS BOND and all the bonds of its series constitute
special obligations of the City of Euless, Texas, and, together
with the outstanding and unpaid "City of Euless, Texas, Waterworks
and Sewer System Revenue Bonds, Series 1965 ", dated July 15, 1965,
are payable as to principal and interest solely from and equally
secured by a first lien on and pledge of the revenues of the City's
combined Waterworks and Sanitary Sewer System, after deduction of
reasonable and necessary expenses of operation and maintenance.
THE CITY expressly reserves the right to issue further
and additional revenue bond obligations in all things on a parity
with the bonds of this series and the aforesaid outstanding Series
965 bonds, and payable solely from and equally secured by a first:
�ien on and pledge of the net revenues of the City's combined Water-
works and Sanitary Sewer System; PROVIDED, HOWEVER, that any and
all such further bonds may be so issued only in accordance with and
subject to the covenants, limitations, conditions and restrictions
relating thereto which are set out and contained in the ordinance
authorizing this series and to which said ordinance reference is
hereby made for more complete and full particulars.
THE HOLDER hereof shall never have the right to demand
payment of this obligation out of any funds raised or to be raised
,by taxation.
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EXCEPT as otherwise specified in the proceedings author -
izing this series of bonds, the holders of this series of bonds
shall be subrogated to and shall possess all the rights and reme-
cies of the holders of the original bonds being refunded.
EACH HOLDER of this bond, payable to bearer, or of the
interest coupons hereto attached, is conclusively presumed to forego
and renounce his equities in favor of subsequent holders for value
without notice and to agree that, being payable to bearer, this
Ibond and each of the interest coupons attached may be negotiated
irby delivery however possession may have been acquired, and that any
Subsequent holders who may receive this bond or any of the interest
upons attached, for value without notice, has thereby acquired
.nolute title free from all equities and claims of ownership of
aay prior holder. The City of Euless, its officers and the paying
agent shall not be affected by any notice to the contrary.
AND IT IS HEREBY CEIRTLIFIED AND RECITED that the issuance
of this bond, and the series c ;.,hic i is a part, is duly author -
ized by law; that all acts, coridiLions and things required to exist
;land to be done precedent to and in the issuance of this bond to
'!render the same lawful and valid have been properly done, have
'happened and have been performed in regular and due time, form and
!Wanner as required by the Constitution and laws of the State of
Texas and the ordinance hereinabove mentioned; that this series of
revenue bonds does not exceed any constitutional or statutory limi-
tations; and that provision has been made for the payment of the
,principal of and interest on this bond and the series of which it
is a part by irrevocably pledging the net revenues of said combined
Waterworks and Sanitary Sewer System of the City of Euless, Texas.
IN TESTIMONY WHEREOF, the City Council of the City of
Euless, 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 this bond and its
appurtenant coupons to be executed with the imprinted facsimile
,signatures of the Mayor and City Secretary of said City, as of the
1 l5th day of January, 1967.
Mayor, City of Euless, Texas
UNTERSIGNED:
ity Secretary, City of Euless, Texas
SECTION 7: Coupon Form. The form of said interest
oupons shall be substantially as follows:
ON THE FIFTEENTH DAY OF , $
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?k(unless the bond to which this coupon pertains has been properly
ica�led for redemption in accordance with its terms,) the City of
Euless, a municipal corporation of the State of Texas, hereby
promises to pay to bearer, out of funds specified in the bond to
which this coupon is attached (without right to demand payment out
of any funds raised or to be raised by taxation), and in lawful
money of the United States of America, without exchange or collec-
tion charges to the owner or holder, at BANKERS TRUST COMPANY, New
.York, New York, the sum of
DOLLARS
($ ), said sum being six months' interest due that day on "CITY
'bF EULESS, TEXAS, WATERWORKS AND SEWER SYSTEM REVENUE REFUNDING
'BOND, SERIES 1967 ", dated January 15, 1967. Bond No.
City Secretary Mayor
*NOTE TO PRINTER: The expression in parenthesis to be included
only in coupons maturing January 15, 1983 and subsequent, pertain-
ing to optional bonds maturing July 15, 1983 through 2005.
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SECTION E: Form of Comucroiior's Certificate. Substan-
Itially the following shall be printed on the back of each bond:
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 bond has been examined by him as
required by law and that he finds that it has been issued in con -
formity with the Constitution and laws of the State of Texas and
that it is a valid and binding special obligation of the City of
Euless, Texas, payable from the revenues pledged to its payment by
and in the ordinance authorizing same, and said bond 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: Definitions. For all purposes of this ordi-
nance and in particular for clarity with respect to ti,e issuance of
zhe bonds herein authorized and the pledge and appropriation of
revenues therefor, the following definitions are provided:
(a) The term "System" shall mean the City's
combined Waterworks and Sanitary Sewer System, including
all present and future additions, extensions, replace-
ments and improvements in any wise pertaining thereto,
whether situated within or without the limits of the City.
(b) The term "net revenues" shall mean the
gross revenues of the System, less the expenses of opera-
tion and maintenance, including all salaries, labor,
materials, repairs and extensions necessary to render
efficient service; provided, however, that in determining
net revenues, only such repairs and extensions as in the
judgment of the City Council, reasonably and fairly exer-
cised, are necessary to keep the System in operation and
render adequate service to the areas served thereby and
the inhabitants thereof, or such as might be necessary to
remedy some physical defect which would otherwise impair
the security of any bonds payable from and secured by a
first lien on the net revenues of the System shall be
deducted,
(c) Unless separately identified, the term
"bonds" shall mean collectively the $3,600,000 "Series
1965" bonds and the $2,200,000 "Series 1967" bonds herein
authorized to be issued (said Series 1967 bonds being
issued for the purpose of refunding, cancelling and in
lieu of $2,200,000 "Series 1965 -A" bonds).
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(d) The terns "additional parity bonds" and
"additional bonds" shall -,ean the additional parity
revenue bonds which the City reserves the right to issue
under Section 17 hereon.
(e) The tei-rl "fiscal year" shall mean the
twelve -month period beginning October 1 and ending
September 30 of the succeeding year.
SECTION 10: Pledge. The City covenants that all of the
net revenues of the System are irrevocably pledged equally for the
payment of principal of and interest on the bonds and additional
parity bonds, if issued under the conditions and in the manner
specified in this ordinance, and it is hereby ordained that the
bonds and the additional parity bonds, if so issued, and the inter -
est thereon shall constitute a first lien upon said net revenues.
SECTION 11: System Fund. All revenues of every nature
received through the ownership and operation of the System shall be
-:;,ept separate and apart from all other funds or accounts and shall
be deposited from time to time as collected into the System Fund,
'heretofore established and hereby reaffirmed. This Fund shall not
be diverted or drawn upon for any purpose other than that relating
to the System and its indebtedness so long as the bonds or addi-
tional parity bonds, or any interest thereon, are outstanding and
unpaid, except as permitted under subparagraph 4 of Section 12
hereof relating to surplus revenues.
SECTION 12: Flow of System Fund - Special Funds. The
-.coneys deposited in the System Fund under the provisions of the
,preceding section shall be used first for the payment of those
'necessary and reasonable expenses of operating and maintaining the
;System as set forth in subparagraph (b) of Section 9 hereof. All
�evenues of the System not actually required to pay such expenses
are hereby pledged and appropriated, in the order of their listed
;precedence, for the purposes and to the Funds heretofore created
and hereby reaffirmed, as follows:
1. Bond Fund. Deposits into the Bond Fund shall
continue to be made for the payment of principal and interest
on the bonds payable from and secured by a first lien on the
net revenues of the System. With respect to such bonds there
shall be transferred to said Bond Fund the following amounts:
on or before the 10th day of each and every month to and
including July 10, 1972, the City shall transfer from the
System Fund into the Bond Fund an amount of money equal to
not less than one -sixth (1/6) of the amount required to meet
the next semi - annual installment of interest. Beginning on
August 10, 1972, and on or before the 10th day of each and
every month thereafter until the bonds (as herein defined)
are fully paid and retired, the City shall transfer from the
System Fund into the Bond Fund an amount of money equal to
not less than one -sixth (1/6) of the amount required to meet
the next semi - annual installment of interest and one - twelfth
(1/12) of the next annual principal maturity.
2. Emergency Fund. As stated in the ordinance
authorizing issuance of the Series 1965 and Series 1965 -A
bonds, this Fund is to be used, upon proper order of the City
I Council, to pay for any special or extraordinary repairs or
replacements to the Syszem necessiLated by the occurrence of
an emergency and for the payn.e.nt of -v.hich no other funds are
available. As required by the provisions of said ordinance,
deposits shall be made into the Emergency Fund at the rate of
II $1,000 per month, on or before the 10th day of each and every
;I month, until such Fund shall equal the sum of at least $100,000.
j' Should the Bond Fund and /or tine Bond Reserve Fund for any
reason prove deficient, t'---en the Emergency Fund s1.all be used
for the purpose of meeting; principal and /or interest require-
ments of the bonds or additional bonds in order to prevent
default in the payment Thereof, and in such event the City
covenants and agrees that it will promptly make the .necessary
transfers from said Emergency Fund into the Bond Fund. When
any amounts are paid out of the Emergency Fund, repayments
into said Fund shall be resumed and continued from the first
revenues of the System thereafter available and not required
for maintenance and operation or for the Bond Fund until such
time as said Emergency Fund has been restored to the total
amount herein provided.
II 3. Bond Reserve Fund. This Fund is to be used to
pay the principal of and interest on the bonds falling due at
any time when there is not sufficient money available in the
Bond Fund. No payments need be made into the Bond Reserve
Fund after there has been accumulated in said Fund tine maximum
herein prescribed, except that, whenever said Bond ;reserve
Fund is reduced below the amount so specified, payments into
said Fund shall be resumed and continued until it has been
restored to an amount equal to the average annual principal
and interest requirements of the bonds, as herein set forth.
As required by the provisions of the ordinance authorizing
issuance of the Series 1965 and Series 1965 -A bonds, there
shall be deposited into the Bond Reserve Fund the sum of
$1,500 on or before the 10th day of each and every month, to
and including July 10, 1968; and beginning on the 10th day of
August, 1968 and on or before the 10th day of each and every
month thereafter, there shall be deposited in the Bond Reserve
Fund the sum of $5,500 until such time as the balance on hand
in said Bond Reserve Fund shall be equal in amount to the
average annual principal and interest requirements of the
I bonds which are then outstanding. It is the City's purpose
and intent to continuously maintain said Bond Reserve Fund
in the amounts herein provided until all of the bonds and
all interest pertaining thereto have been fully paid and dis-
charged, or until such time as the amount in said Bond Reserve
Fund when added to the amount in the Bond Fund shall be fully
sufficient to pay and discharge all of said bonds and all
interest pertaining thereto at maturity. In the event of an
i early redemption of any portion of the bonds prior to the time
the full Bond Reserve Fund requirements have been accumulated
in accordance herewith, the monthly deposits into said Fund
as above provided may be reduced in the same ratio that the
amount of bonds so redered and discharged shall bear to the
total amount of the bonds and the Bond Reserve Fund require-
ments also reduced to an amount equal to the average annual
interest and principal requirements of the bonds then remain-
ing outstanding.
If in any r.o :::. the City shall for any reason
fail to pay into the Bond Fund, the Emergency Fund and /or
the Bond Reserve Fund t o full u; ;o::nts herein stipulated,
amounts equivalent to such deiciencies shall be set aside
and apart and paid into said r.:nds from the first available
revenues of the following monk. or months, and such payments
shall be in addition to the amounts hereinabove otherwise
provided to be paid into such Funds during such =,onth or
months.
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4. Surplus Revenues. Any surplus of
!; the System remaining after all requirements of this Section
12 have been met, and like requirements contained is ordi-
nances relating to additional parity bonds 'herein authorized
have been satisfied, and after all deficiencies existing in
such requirements have been remedied, may be transferred and
used for any lawful general or special purpose,'as permitted
by the terms of Article 1113a, V.A.T.C.S., including the use
thereof either for the retirement in advance of maturity of
the bonds or additional parity bonds, according to the pro-
visions made for their prior redo - motion, or for the purchase
of any of such bonds on the open market at not exceeding the
market value thereof. Nothing herein, however, shall be
construed as impairing the right of the City to pay, in
accordance with the provisions whereof, any junior lien bonds
legally issued by it and payable out of the net revenues of
the System.
SECTION 13: Adjustment of Bond Reserve Fund - Transfers
of Excess into Bond Fund. The City shall have the privilege of
(recomputing and adjusting the Bond Reserve Fund requirements to the
,amount of the average annual principal and interest requirements
of the bonds and additional bonds at any time outstanding, and
such adjustment is particularly anticipated at such time as bonds
may be redeemed and retired prior to their stated maturity. Any
amounts in the Bond Reserve Fund which shall exceed those then
required may be transferred to the Bond Fund. All moneys of the
Bond Reserve Fund and the Emergency Fund which may be realized from
the investment thereof as hereinafter provided which exceed the
mounts required to be maintained in such respective Funds may like -
wise be transferred into the Bond Fund. In the event of any such
transfer, the amount thereof may be credited against the current
monthly deposits hereinabove provided to be made into the Bond Fund.
SECTION 14: Custodian of Funds. The Custodians of the
Funds heretofore established and herein reaffirmed shall be as
Zollows:
(a) The City's official depository bank shall be
the Custodian of the System Fund and the Emergency Fund.
(b) The Custodian and Trustee of the Bond Fund
and the Bond Reserve Fund shall be BANKERS TRUST COMPANY, New
York, New York, and all deposits herein provided shall be placed
in the Bond Fund and Bond Reserve Fund with said Custodian and
Trustee.
SECTION 15: Invesc,er. the Bond Reserve Fund and
the Emergency Fund may be invested as follows:
{ (a) The Bond ;c-serve Fund in direct obligations
of or obligations unconditionally guaranteed by the United
States of America having maturities not in excess of ten (10)
years from the making of such investment as the City Council
may direct. Such obligations shall be held by the Trustee
Bank, and if at any time uninvested funds shall be insufficient
il to permit payment of principal and interest at maturity of the
bonds as heretofore directed, the Custodian and Trustee shall
sell on the open market such amount of the securities as is
f required to pay such bonds and interest thereon when due and
shall give notice thereof to the City Manager.
(b) The Emergency Fund in direct obligations of or
obligations unconditionally guaranteed by the United States of
America having maturities not in excess of five (5) years from
the making of such investment as the City Council may direct.
Such investment securities shall be held by the Custodian. Bank
and if at any time it becomes necessary to liquidate same to
provide sums for any purpose for which such Fund was created,
the City shall notify the Custodian who shall promptly sell on
the open market such amount thereof as may be required, making
the proceeds immediately available. Should the purpose be for
meeting bond requirements, the City agrees promptly to accom-
plish the required transfers to the paying agent bank.
SECTION 16: Security of Funds. All Funds hereinabove
reaffirmed shall be secured in the manner and to the fullest extent
;permitted by the laws of the State o Texas for the security of
public funds, and such Funds shall be used for and only for the
'purposes designated in the ordinances authorizing issuance of the
bonds. All deposits in the special Funds under subparagraphs 1 and 3
Of Section 12 shall be held as a Trust Fund for the holders of the
bonds, the beneficial interest of which shall be regarded as exist -
ling in such holders. To the extent that the moneys in the Bond
Reserve Fund and Emergency Fund are invested under the provisions
of Section 15 hereof, such security is not required.
SECTION 17: Issuance of Additional Parity Bonds. In
addition to the right to issue bonds of inferior lien as authorized
by the laws of the State of Texas, the City reserves the right to
hereafter issue additional parity bonds. The additional bonds when
issued shall be payable from and secured by a first lien on and
pledge of the net revenues of the System in the same manner and to
the same extent as are the bonds, and the bonds and additional
bonds shall be in all respects of equal dignity. The additional
1bonds may be issued in one or more installments, provided, however,
that none shall be issued unless and until the following conditions
~have been met:
(a) The City is not then in default as to any
covenant, condition or obligation prescribed by the ordinances
authorizing the issuance of the bonds;
(b) The applicable laws of the State of Texas in
force at such time and which provide permission and authority
j for the issuance of such bonds have been fully complied with;
I�
f
i�
I�
(c) That each of F ands heretofore created
and herein reaffirmed contains t`. -ie 'arnount of money then
required to be on deposit thc_:-�yn;
(d) The net r`venu.2s ol_ the System for the twelve-
month period preceding the me:t: of the adoption o such ordi-
nance, as shown by a report of a certified public accountant
or licensed public acccanz ant, are. equal to at least one and
one - fourth (1 -1/4) times t"ne rve�zu -e annual principal and
interest requirements of all bonds which will be secured by a
first lien on and pledge of the net revenues of the System, and
which will be outstanding upon the issuance of t're additional
parity bonds. The terra "net revenues" as used in -his Section
17 shall mean the gross revenues after deducting the expenses
of operation and maintenance but not deducting expenditures
which, under standard accounting procedures, should be charged
to capital expenditures;
(e) The additional bonds are made to mature on
July 15 of each of the years in which they are scheduled to
mature; and
(f) The ordinance authorizing the issuance of such
additional bonds provids that the amount to be accumulated and
maintained in the Bond Reserve Fund shall be increased to an
amount equal to not less than the average annual principal and
interest requirements of all bonds payable from and secured by
a first 'Lien on and pledge of the net -revenues of the System
(after giving effect to the issuance of the proposed additional
bonds). The additional amount to be accumulated in said Fund
shall be deposited therein in not more than five (5) years and
one (1) month from the date of the passage of the ordinance
authorizing the issuance of the proposed additional bonds.
SECTION 18: Special Covenants. The City hereby further
covenants as follows:
(a) That it has the lawful power to pledge the
revenues supporting this issue of bonds and has lawfully exer-
cised said power under the Constitution and laws of the State
of Texas, including said power existing under Articles 1111
through 1118, V.A.T.C.S.; that the bonds and the additional
bonds, if and when issued, shall be ratably secured under said
pledge of income in such manner that one bond shall have no
preference over any other bond of said issues.
(b) That other than for the pledges made for the
bonds (as herein defined) and the bonds being refunded hereby,
the rents, revenues and income of the System have not in any
manner been pledged to the payment of any debt or obligation
of the City or of the System.
(c) That, so long as any of said bonds or any
interest thereon remain outstanding, the City will not sell
or encumber the System or any substantial portion thereof,
and that, with the exception of the additional parity bonds
expressly permitted by L.is ordinance to be issu,:u, it will
not encumber the revenues thereof unless such encumbrance is
made junior and subordinate to all of the provisions of this
ordinance; provided, however, that the City may dispose of any
portions of the System .•.hich are located within the cor, orate
limits of other municipalities under the followin- conditions:
(i) That the proceeds of any such sale shall be
deposited in tine Bond Fund and, us promptly
as possible, applied to the prepayi -ent or
the redemption of the bonds (all or part of
either of the two series - Series 1965, Series
1967).
(ii) That such sale shall be authorized in a manner
conforming with the applicable laws of the
State of Texas then existing.
(iii) That an independent Registered Professional
Engineer of the State of Texas, retained and
paid by the City and approved by the under-
writers (the original purchasers or holders
of the bonds), shall certify, in his opinion,
that such sale will not impair the efficient
operation of the unsold portion of the System
and that the annual net revenues of said remain-
ing-System will not be less than one and one -
fourth (1 -1/4) times the annual principal and
interest requirements of all parity revenue
bonds to be outstanding throughout the period
during which said remaining bonds are scheduled
to be outstanding after giving effect to such
sale and prior bond redemption.
(iv) That, as revealed by a report prepared by an
independent Certified Public Accountant covering
the period of twelve (12) consecutive months
ended not more than ninety (90) days prior to
said sale, the net revenues of the said unsold
portion of thi3 Systeca shall have been not less
than one and one- fourth (1 -1/4) times the aver-
age annual principal and interest requirements
of the amount of parity revenue bonds to be out -
' standing after giving effect to the application
i!
of the sale proceeds to the retirement of bonds
as provided for in subparagraph (i) above.
The proceeds from.the sale of such properties shall be applied
as promptly as possible to the prepayment or the redemption of
the bonds in accordance with their respective call provisions.
Pending such application, the proceeds shall be invested as
herein provided for the Bond Reserve Fund.
(d) That no free service of the System shall be
allowed, and should the City or any of its agents or instru-
mentalities make use of the services and facilities of the
System, payment of the reasonable value thereof shall be arc
by the City out of funds from sources other than the reve:_:c;
and income of the System.
(e) To the extent hac it legally may, the City
covenants and agrees, for the 'protection and security of the
bonds and the holders thereof, that it will not grant a fran-
chise for the operation of any competing waterworks or sewer
system within the City until the bonds shall have been retired.
(f) All extensions and improvements to the System
shall be constructed to standards established by the City, and
shall be subject to the approval of a qualified Registered Pro-
fessional Engineer of the State of Texas, retained or employed
by the City, who shall approve and supervise the installation
thereof.
SECTION 19: Adoot�.on of Provisions of Ordinance
A"_horizing Series 1965 ar.: Sor- es 1565 -A Bonds. The provisions,
conditions and recitals thereof being equally applicable to this
;ordinance and the Series 1967 bonds herein authorized, certain
;'sections of the ordinance authorizing the Series 1965 bonds and the
'Series 1965 -A bonds which are being refunded hereby, as enacted on
the 29th day of July, 1965, are hereby adopted as a part hereof by
:this reference and to the full extent and with like effect as if
set forth herein at length. Such sections are listed and identified
as follows:
Section 21: Rates and Charges.
Section 23: Maintenance and'Operation - Insurance.
Section 24: Records - Accounts - Accounting Reports.
Section 25: Remedies in Event of Default.
Section 27: Bonds Are Special Obligations.
�.. order that any holder of the bonds authorized by this ordinance
may be fully apprised of the contents of the aforementioned sec -
tions, the City agrees to furnish, without charge, a certified copy
OIL the ordinance of July 29, 1965, aforementioned and in which the
aforesaid sections are contained, upon request of the holder of any
of the bonds herein authorized.
SECTION 20: Subrogation of Rights. Except as otherwise
specified in the proceedings authorizing this series of bonds, the
:polders of this series of bonds shall be subrogated to and shall
possess all the rights and remedies of the holders of the original
bonds being refunded. Since the Series 1967 bonds are being issued
in exchange for the Series 1965 -A bonds in like principal amount,
maturities and interest rate, all amounts heretofore deposited in
special funds for the payment or security of the Series 1965 and
Series 1965 -A bonds shall continue to be held for the payment or
security of the Series 1965 and Series 1967 bonds so that the bonds
herein authorized will stand in the same position with respect
thereto as the bonds being refunded.
SECTION 21•
That the Mayor of the
authorized to take and
Mayor to Have Charge of Records and Bonds.
City of Euless shall be and he is hereby
have charge of all necessary orders and
I
records pending investigation by t:e A .orney General of the State
;1of Texas, and shall take an"' gave and control of the bonds
Nherein authorized pending t:-_e- -r approval by the Attorney General
';sand their registration by t:e Comptroller of Public Accounts. The
1$2,200,000 principal amount of refunding bonds herein authorized
shall be exchanged for the $2,200,000 "City of Euless, Texas,
(Waterworks and Sewer Syste-, Zevenueo..ds, Series 190-5--A", dated
,,uly 15, 1965, being refunded ;.hereby, and the Mayor is further
11 ,!authorized and directed to submit to the Comptroller of Public
Accounts for cancellation tie aforesaid $2,200,000 of bonds being
;refunded, and to do all things necessary, appropriate or required
to furnish such original issue to the Comptroller for cancellation
,,and to obtain proper evidence of such cancellation.
11 SECTION 22: Printed Legal Opinion on Bonds. The bond -
",holders' obligation to accept the refunding bonds herein authorized
in exchange for the bonds to be refunded as hereinabove described
'is subject to their being furnished a final opinion of Messrs.
pumas, Huguenin and Boothman, Attorneys, Dallas, Texas, approving
;such bonds as to their validity, said opinion to be dated and
delivered as of the date of tine exchange and delivery of the refund -
ing bonds. Printing of a true and correct copy of said opinion on
'the reverse side of each of such refunding bonds, with appropriate
'certificate pertaining thereto executed by facsimile signature of
,,the City Secretary, is hereby approved and authorized.
SECTION 23: Emergency. The fact that it is to the best
jinterest of the City to provide funds for paying off, cancelling
and refunding outstanding indebtedness of the City's Waterworks and
,Sanitary Sewer System as hereinabove set out at the earliest pos-
:sible date for the immediate preservation of the public peace,
health and safety constitutes and creates an emergency and an
urgent public necessity, requiring that the Charter provision that
all ordinances shall be read at two regular Council meetings be
,suspended and requiring that this ordinance be passed and take
effect as an emergency measure, and such rule is accordingly sus -
,pended and this ordinance is passed as an emergency measure and
,shall take effect and be in full force from and after its passage."
li
PASSED AND APPROVED, this the 28th day of February,
11967.
�i
Mayor, /City of Euless, Texas
.ATTEST:
'City Secretary, City of Euless,
Texas
APPS OVEb
City ltt orney, City of Euless, Texas
(City Seal)
r ti /'�
J it r�l :t . J -LITIC ;� + vN C RlIF iC
THE STATE OF TEXAS
COUNTY Or T?..tRA2NT
WE, W. G. FUL:_ X .iayor, and VADA FERRIS City Secre-
tary, respectively, of t ,ity o Euless, Texas, DO rEZES�' CERTIFY
as follows:
m
.tat trtis execuced ar.0 La_7ver a.
with reference to the folicwing ces:ribd bonds:
1�iL1Li.7, W �ry� -„-i. 01%1 *1 -� 11N��DT� . -.T T..�.., ._,ir ` = ^"T ?l FU INI S _,j �+ -
A i \'rtiT l)tl.`.7 t�1VL L✓uYi'..�\ �.� �.:.: \.:, LT . `:UL t�ii V 1V iL�v :�l/NDS , JL' i�iiS
1967", dazad January 15, _�G%, in a6gregate amount
of $2,200,000.
2. That we i ncer17lgneQ, ofilcialiy t .C-Cu -ed and
Signed or countersigned su -d bonus and the interesz ccu-Dons
attached thereto by cauC,n , c)u r signatures :.o be .Laced
on each of Said bonds and _'
__�CrGS'� COupGI1S and we � :: raJy c::0�;
said facsimile signatures Ol-� own anG declare tea; - -e Sam—
constitute our signatures `ac sar.-�e as if we had manually si'---nod
aach of said bonds and interest cou�G� :s.
. That on the irate o such execution in nn e r
.:.:td on the date hereof, we were the duly chosen, qua,--lac Ltd
acting officers indicated �: :erg ir. u.:d authorized to e :a:.uta t
same.
i!
4. That the le-ally ado-,ted proper and only official
corporate seal of the i.`S SI,. :: 7S �.. p� : ,3s d, imprinted or lit-'1710-
graphed or. all of said bor:d: ar.d it : -jr`ssed on this cerSificate.
I( S. We further cartify z:.at no litigation Of nature-
is now pending or, to our s :: d: e, _-oa rro, y
e ter:ed all`�r� :� di�`ct
or indirectly the validity of said obligations or ra t�ain�r.;
e: :joining or in any other L.- .0 :.ner of ecti :.g the issuu.- e�ecu�_o:
9
exchange or delivery thereof; or : "a or ccli`� �lor. Gf t:
ravenues, rates and charges ..,led --ed to pay the principal of ar.d
interest thereon, or the plecge so .::age, or affecti:.g �n �-.y Tv y
riL;:.s or authority of iss or ,_.o pay said obl�� _dons and
e interest th ereon, or o aerwise carrying out the _` ::s a_ c
_provisions of :.he authorizing pr oceedi ngs, and the cov` :ants anc
agreements t'nerein, and_each o-r any of them, or the corporata exis-
tence of said issuer, or t e title of the present of-,741- c a r s or a II y
of them to their respective off-.Lces, and that :tone of S'::` proceed-
' ings or authority for the issL:ance of said obligations tas been
repealed, revor.ed, rescinded, :oVi-ed, changed or ir. any
manner.
Leon filed
2ha= no pi; on &Z —or TjquUwL h,"J
Wit! or prawanved to Lny &-- Zj issuer of zhcas bonds
rzquesz0Z wat any procn.LL�3s anawrizing the same be submitted
to a referendum or other a lac `is m.
EXECUTED AND DELIVERED this
(City Sea!)
ii
SIGNATURE
GFFICSAL TITLE
L
Mayor, City of Euless, laxas
�� s«? /v City Secretary, City of Euless,
Texas
The signatures of the officers subscribed above are
hereby certified to be true and genuine.
(Bank)
Y
'Authorized Officer)
(Bank Sea!)
THE S T ATEE OF -_ERAS
OF EU
CITY T SS LE
COUNTY OF T.A!URANT y
.4
I, -Lhe undersi,-cd, ",sL3_-�,Lor and Collec---c)--- C._" 'Laaes, for
the City of Euless, Texas, L'3 CE�TIF"A" as follows.
r 01, 1 S o
a ppr ov a
whic-h
1 That the
Of taxat-Lon in _-'tw
said City for
tax rolls Of sa-_'a C _'Zy'
:)un-- may be as
2u
-
j - -ass., as SLI 0
J'j h e s a-. e ;e cluly
__0 S 39,328,720_,
::ore fUliy -j ar aZra,D'as
numbered 2 and 3 of tats --n s _emu;;: -, -n z .
'["aat the z a L o `ax
able val',.,-
any anc L-1 ara annexed tc z y b •
ord-1-nanc--s numbered 189, 1�3' Ln� the -e
on. in the D' - cz -our-
ordinances is n3,.,; I in
S a S
cause entitled W. FIco ,-,�71' ac e^ V. City L 7
(_he same having been re-.1.c.-.-.de"-' e Supreme Court of xas Cause
.tier 11263, for further consistent wL
G'D-7n-on
7-
31�' that_- Court ; that copies o--,- t'. -�e_ original pleadings a%? e bean
C, ID
nerotofore s-_--,D--)1-1_ed to of Texas connection
W_
his --approval of bon"'S I'S L U 0- a _-y -_`Iae City of Euiess, 'fe:-,Ls,
:mown a"C2 --y o
"� Z f Euless, OL igazion 3o-.-, s, 17 es
r a 71.5 i..0 under R—strat'on N7uai.be- 37533;
z'-Iat there have been no had in the DisZ-r-Lc--_
Court since- the cause was --o z-1-iat neither "ne cornorate
i
exa.stence nor the boundaries ;;f L S_`_"` City prior to ti-Le a--ore-
said annexation ordinances --*s be':.- contested.
I/ That since o2:: the opinio-n o---: z-1-le
^ourz of Texas in `,Dve and cause-
c_--rtain ordinances have been &do--,-_ed, which annex a of -he
which was inc!_u,C___" wiz.--in -�n_, area an exec by ordinances
n-_=.bered 189, 190 and 192; zllaat valuation of the -_=a1L-)_L_e 7iro-
in the area so annexed to the City is not included in valua-
zion menz:-ioned in paragraph I of this certificate and amounts to
1,382,730
3. That it
zL-.at,, under t'he ruling
_tort' v7-1-111 ult-L-Matelv
is -c-L-i e
O.L. Z
be i:-.c
content-ion of the City
Sui-,rama Ccurt of Texas,
u " L e the limits
o_` Euless and the total of tfta val,,:.a-k-ion of the
City contends will be with-in tie limits (based
Court's ruling as applied to --he- ,acts; --ounts
C> " —.1
$ 891,870 which amo-_,nz :Ls not included
,;valuations set forth in par_--ra-31a 1 hereof.
Of Euless
certain
0- he
prop: -rty whit: the
upon supre -'e
to L n d i t i on a
in the -mount of
TO CERTIFY ALL OF WHICH witness my official signature
77
and tha s--al of the City - this -the 8th C. a y
0 March
Z'-:; S'- 0-- S 3:: an d C o IJL e CZ 3 --- 3 Taxes
"City of Euless, -c' �xas
'City Sea-AL)
S 4 -
WE, the under City Secr--'z - 0- she
,14
Eu there is -now �--nd-Ln- in
ty o less, Tenxas, DO
��d -yd Deacon- e-�- v.
Dis--r--'ct Court a case -c
W,
1 —V'D IV eS
0-'. Euless- Texas e qUeS� 3:7, C,
validity of certain ordin-c-.--cas Territory to z-I-.'L! City of,
�'
-7U 1
less.
F -r-I es th -4 zy
WE DO FURIEHER CZk--I�`." -aa boundc� - 0- e
Texas are not 2--n Lny being 0-,jeS--C-
A�-', - 4
c--'z Euless, > C) 'Ly
`Droc ee s before any cc,,:-.: ex-c e-7-)z as noted 4--n t1h -z, n-r a c e c in-
C:)
L-Laz '�he bound u:. S of City ty as they 0-x Ss - ad for
---o the annexation ordinances "unL,::-r attack in the a,-orosa-.L"-" ca: -,se)
re
not being questioned in any !Known to either of us.
TO CERTIFY Wy '
7CZi
witness our official
seal of t-he City of - Eulass Texas, this the
Gay of
1967.
Mayor, City -/Of EU-'A.ess, Texas
City Secretary, City of Euless, Texas
(City Seal)
THE STATE OF TEXAS
I
CITY
1' COUNTY
r;
tively,
OF EULESS
OF TARRANT
GENERA 1 CE-R`717 -KATE
WE, THE UNDERSIGNED, Mayor and City Secretary, respec-
of the City of Euless, Texas, DO HEREBY CERTIFY as follows:
1. Relative -,ate d
That none of the $29200.)000 "City of �` s, Texas,
Waterworks and Sewer System Revenue Bonds, Series 1965-.-'1", 4ated
July 15, 1965, authorized to 'oe rel'unded by the ordinanze passed
by the City Council of said City on the 28th day of February,
1967, have ever been held by zhe interest and sinking fund estab-
.,lis'ned for the payment thereof nor have any of such bonds ever been
"purchased or held by any other funds of said City.
2. Relative to Nonencumbrance of City's Combined Water-
works and Sanitary Sewer System.
That save and except for the pledge of the income
al-.d revenues of the City's combined Waterworks and Sanitary Sewer
System to the payment of the principal and interest on $3,600,000
' °ity of Euless, Texas, Waterworks and Sewer System Revenue Bonds,
_..ries 1965 ", dated July 15, 1965, a_-,.d $2,200,000 "City of Euless,
�_xas, Waterworks and Sewer System Revenue Bonds, Series 1965 -A ",
sated July 15, 1965 (which said Series 1965 -A bonds are in the
.ocess of being refunded), and the pledge of the income and reve-
--es of said combined System to the payment of the principal and
_..serest to become due with respect to $2,200,000 "CITY OF EULESS,
-: AS, WATERWORKS AND SEWER SYSTEM REVENUE REFUNDING BONDS, SERIES
_9,67 ", dated January 15, 1967, t.e income and revenues of said
-vstem have not been pledged or hypothecated in any manner or for
µy other purpose; that there are no liens, encumbrances or any
other indebtedness whatsoever outstanding against the Ci,-y's Water -
works and Sanitary Sewer Syst:!.a or the income and revenues of such
System; and that the above bonds evidence the only lien, encumbrance
or indebtedness of said System; or the income and revenues of such
System.
3. Relative to `utility Properties.
That to our certain knowledge the City of Euless,
Texas, has owned and operated its Waterworks and Sanitary Sewer
System since the acquisition thereof by said City in September,
1965.
That to this date no question has arisen and no
'proceedings of any nature have been instituted in any manner ques-
tioning the City's right and title to said utility properties or
,its authority to operate same, and that no question has «risen and
no proceedings of any nature have been instituted in any manner
questioning the City's right and title to any of the additions,
xtensions or betterments to said utility properties constructed or
acquired since the original acquisition thereof.
4. Relative to
That the CiLy o �:i`ss, Texas, is not in default
as to any covenant, condition or oblib-ation contained in the ordi-
nance of July 29, 1965 authorizing t'Lc issuance of "City of Euless,
Texas, Waterworks and Sewer System Revenue Bonds ", Series 1965 and
Series 1965 -A, dated July 15, 1955; L:nd that there is on hand in
z.-.e "Bond Fund" pertaining to said two series of bond- tike total
sum of $ 24,750.00 there is on hand in the "Bond Reserve Fund"
"lie total sum of $ 27,379.78 _; and there is on hand in the Emer-
gency Fund the total sum of $ 18,423.75
5. Relative to Incone and Revenues of the City's Com-
;!bined Waterworks and Sanitary Sewer System.
That the gross receipts, operating expenses and net
revenues of the System for the fiscal year ending September 30,
1966 (the first full year of operation) were as follows:
Fiscal Year
Gross
Operating
Net j
Ending 9 -30
Receipts
Expenses
Revenues
1966
$ 615,977
$189,o6o
$ 426,917
!! 6. Relative to Ownership of Source of Water Suppl
That the City of Euless, Texas, has a complete
isource of water supply which includes the following:
16 Wells - 12 Paluxy Sands
4 Trinity Sands
Total Rated Capacity 4,800 Gallons Per Minute
6,900,000 Gallons Per Day
and water storage facilities consisting of:
1 Standpipe
3 Ground Storage
Tanks
Total
2,000,000 Gallons
770,000 Gallons
2,770,000 Gallons
All with Booster Pump installations.
(Aggregate)
7. Relative to s ,c ibed for Ctv' -
:!and Sanitary Sewer System S _-rvices.
l The monthly rates now being charged pursuant to an
liordinance passed on July 29, 1965 -prescribing rates for -he City's
iNaterworks and Sanitary Sewer System, which ordinance ri:�:,ains in
full force and effect, are as Follows:
First 3,000 gallons
Next 7,000 gallons
Next 40,000 gallons
Over 50,000 gallons
Residential
5 outlets
Each additional outlet
Coru«ercial
6 outlets
11 Each additional outlet
industrial
6 outlets
Each additional outlet
' •IA?'%R T I ES
Ins--7d--- City Limits
(Euless & Bedford)
$3.00 (Min.)
.50 per ii
.35 per M
.30 per M
SETJER RATES
Inside City Li...its
$1.50 (Min.)
.50
$3.00 (Min.)
.75
Outside Ci�:y Limits
$4.00
(�in . )
.50
�cr
.35
per M
.30
per M
Outside C4-!:y Limits
$2.00 (Min.)
.50
$3.00 (Min.)
.75
$3.00 (Min.) $3.00 (Min.)
.75 .75
PLUS $0.10 per M gallons of water used.
8. Relative to Incumbency and Incorporation.
That the following are the duly qualified and acting
officers of said City:
W. G.
FULLER
BOBBY
R. FULLER
BILLY
B � vE L__, 1S
FRANK
E. DOUGL. SS
HAROLD
D. SAMUELS
DON R.
WARREN
JAMES
A. CRIBBS
(MRS.)
VADA FERRIS
Mayor
Councilman
C ounc i llrian
Councilman
Councilman
Councilman
City Attorney
City Secretary and
City Treasurer
That the City of Euless, Texas, is incorporated
under the General Laws of the State of Texas, and is operating
under the Home Rule Amendment to the Constitution of the State of
Texas, Section 5 of Article XI, as amended in 1912; that the
II
'Charter of said City was a6opLad or',-Jnall
:'on the 21st day of July, 1932', and has not
WITNESS OUR OFFI-1" SIGN"--_ _ RES
��OF EULESS, TEXAS, this the 28th day of
lyiavor' Cit
y at an el`c -ion held
been amen"------.
AND THE S--L.-j- OF 'r.:!E CITY
February, 1967.
of Euless, Texas
Aall
City Secretary, City of Euless,
Texas
';(City Seal)
CERTIFICATE OF CITY SECRETARY
THE STATE OF TEXAS �
CITY OF EULESS
{COUNTY OF TARRANT X
!j
. .. .
I, the undersigned, City Secretary of the City of
Euless, Texas, DO HEREBY CERTIFY that the foregoing is a true and
,.correct copy of an ordinance authorizing issuance of $2,200,000
' "CITY OF EULESS, TEXAS, WATERWORKS AND SEWER SYSTEM REVENUE REFUND -
ijING BONDS, SERIES 1967 ", dated January 15, 1967 (and Minutes per -
Raining to its adoption), passed and adopted by the City Council
of the City of Euless, Texas, on the day of February, 1967,
and recorded in Book of the Minutes of said City Council.
IN WITNESS WHEREOF, I have hereunto signed my name
officially and affixed the seal of said City of Euless, Texas,
'zhis the day of February, 1967.
j City Secretary, City of Euless,
Texas
;
i
(City Seal)