38-01 R - Grant Acceptance for Water Works ProjectTHE STATE OF TEXAS )
COUNTY OF COLLIN )
TOWN OF PROSPER )
On this 7th_ day of July , 1938, the Board of
Commissioners of the Town of Prosper, Texas, convened is Special meeting
at the regular meeting place, with the following members thereof, to —wits
U.N.Clary,
• Mayor
A.E.Robison,
• Commissioner
W.H.F1eld,
, Commissioner
C.W.Rarper
,, Town Clerk
present, and the following absent: N 0 N E, constituting a ouorum; when,
among other proceedings had, were the following:
Commissioner A.E.Robisoa
introduced a resolution
and moved its adoption. The motion was seconded by Commissioner
W.H.Field
The motion, carrying with it the aioption
of the resolution, prevailed by the followia vote;
AYES: Mayor U.N.Clary
Commissioner
A.E.Robisoa
and Commissioner W.H. Field
NOES: N 0 N �.
The resolution is, as follows:
RESOLUTION ACCEPTING AN OFFER OF
THE UNITED STATES OF AMERICA TO AID, BY WAY OF LOAN
ND AGRANT. IN FINANCING A PROJECT THEREIN DESCRIBED
WREREAS, the United States of America has offered to aid the
Town of Prosper, Texas, by way of grant, in financing the construction of
a project fully described in said Offer; and,
WHEREAS, it is deemed desirable that the said Offer be accepted
by the Town of Prosper, Te_:as, at this time;
NOW, THEREFORE, BE IT RESOI:JED BY THE BOARD OF CW2USSIONERS OF
THE TOWN OF PROSPER, TEXAS:
1. That the Offer of the United States of America, reading as
follows:
P• W. 81137-8
FEDERAL EA;ERGENCY ADMINISTRATICN
OF PUBLIC WORFS
Washington, D. C.,
Dated: June 24, 1938
Town of Prosper, Docket No. Tex. 1370-F
Prosper, Collin County, Texas.
I. SubjeOf ct to the Terms and Conditions (PWA Form No. 230, as
amended f America (here nica101edrthehi are made a part hereof, the United
States of
ers to
financing the construction of improvements nterandnextenaioasyto waterworks
ionat
is
Systems isi including the aequlsi Lion of an a zi siting waterworks system and the
acquisition 0£ necessary land and rights of way (herein called the "Project",
such waterworks systems, including the completed Project, together with all
improvements and extensions thereto and replacements thereof, hereafter con-
structed or acquired, being herein called the "Spetem"), b making a grant to
the Town of Prosper herein called the Applicant"), is the amount of 45 percent
of the cost of the Project upon completion, as date rainad b
Administrator of public Works, but not to exceed in v y the Federal Emergency
and by purchasing, at the principal amountthereof lu event, the sum of $8,181,
from the Applicant, obligations (herein calledthe °Boads")rued interest thereon,
.at forth below (or such other description as shall be mutually satisfactory)
Of the oa
in the aggregate principal amount of $100000:
(a) Obligor: Town of Prosper;
(b) Type: Special obtigation, waterworks revenue, aerial,
coupon bond;
(c) Denominations: $100 and $500; (d) Date: August 1, 1938:
(e) Interest rate and interest payment date$: 4% per anaum,
peayable semi-annually on February 1 and August 1, in each
(f) Place Of payment: Office of the Treasurer of the State
of Texas, at Austin, Texas;
(9) Maturities: On August 1, in amounts and years as follows:
$200 in 1942 and 1943,
300 in 1944 and 1945. and
,500 in 1946 to 1963, inclusive;
(h) Payable as to both principal and interest by an seclusive first lien from and secured
on and pledge of the revenue of
the System after deduction of reasonable maintenance expenses, operation and
2. This Offer is conditioned upon:
(a) The Applicant's submitting evidence, prior to the dis-
bursement by the Government of any funds which it herein
offers to furnish, that it has contbacted for the acqui-
sition of all right and title to the existing privately -
owned water system, for which acquisition it will apply
not more than the amount of $2, 3CO funds which
the Government herein offers to fur Of t and
of the
(b) The ApPlicant's furnishing, prior to the payment by the
Government for any of the Bonds, evidence that it will be
able to secure, upon or before completion of the Project,
60 connections to the water system, at a minimum monthly
each
hconnection shall obeeentitled townothexceeding 2,000
gallons of water per month.
3. By acceptance of this Offer the Anpli cant comenants to begin work
on the Project as early es poesible but in no event later than 8 weeks
from the date of this Offer and to complete such Project with all practica-
ble dispatch, and in any event within 5 months from the commencement of
construction.
MITED STATES OF AMERICA
Federal Emergency Administrator
Of Public Works
BY (�?.�•) H. A. Grip
ss stant Administrator
be and the same is hereby in all respects accepted.
2. That the Town of Prosper agrees to abide by all the Terms
and Conditions Of said offer, including the Terms and Conditions annexed thereto
and made a part thereof.
3. That the Town Clerk be and he is hereby authorized and
directed forthwith to send to the Federal Emergency Administration of Public
Piorks three certified copies of the proceedings of the Board of Commissioners
in connection with the- doption of this Resolution, setting forth this
Resolution in full, and such further documents or Proofs in connection with
the acceptance of said offer as may be requested by the Federal Emergency
Administration of Public Works.
( SEAL)
PASSED AND APPR07ED THIS 72! day of July T _'" , 1938.
ATTEST: ,-,,.{A//,w✓'
Town Cleft, Town o, f Prosper
CERTIFICATE OF TOWN CLE.gg
THE STATE OF TEXAS )
GOSAITY OF COSj.IN )
I, the undersigned Town Clerk of the Towa Of Prosper do
hereby certify £pat the above and foregoing is a true and correct copy of a
resolution (and of the minutes pertaining to its adoption) adopted at a
special session of the Board of Commissioners of said town
held on the 7th day of July , 1938, which resolution
is of record in the minutes of the said Board, Volume 1 _ � page
Executed under my hand and the seal of said Town this Ith
day of J„ly , 1938.
(S E A L)�
Town Clerk.