39-06 O - Issuance of Water Works BondsI0
THE STATE OF TEXAS
COUNTY OF COLLIN
TOWN OF PROSPER
The Town Commission of the Town of Prosper, Texas, convened
In Regular 'testing on the d3th day of February, 1939, with the fol-
lowing members present, to -wit:
U. N. Clary
Mayor
W. H. Field
A. E. robison
Commissioners
C. W. Harper
Town Clerk
with the following absent: None, constituting a quorum, at which
time the following among other business was transacted, to -wit:
Commissioner V. H. Field introduced a proposed ordinance.
The ordinance was read in full.
Commisaioner A. E. Robison made a motion that the rule re-
quiring ordinances to be read at more than one meeting be susnended.
The motion was seconded by Commissioner W. H. Field. The motion
r
carried by the following vote!
AYES.- Commissioners V. It. Field and A. E. Robison and Mayor
U. N. Clary.
NCE3: None.
Commissioner W. H. Field made a motion that the ordinance be
passed finally. The motion was seconded by Commissioner A. E. Robi-
son. The motion carried by the following vote:
AYES: Commissioners W. H. Field and A. E. Robison and '!ayor
U. N. Clary.
NOESt None.
The Mayor announced that the ordinance had been finally passed.
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The ordinance is as follows:
I%
0
AN ORDINANCE
AUTHORIZING THE L"• OF TOVN OF PROAP!,:R*
TEXAS WATER ".ORKS BONDD IRIES 1939, IN VIE
"WU1 0k S2,000.00, BEARING iNTEP:i3T AT THE RLTE
OF A% PER ANNU.`1, INTOEST PAYABLE ANNUAT; Y AND
TO T,EVY AN AD VALORrl TAX ON ALI, TAXABLE PRO-
PERTY ';ITHIN THE LV!ITS OF SAID TOWN SUFFICIENT
TO f'AY TP!. ANNUAL TNTIRr,ST ON SAID BONDS AND
PRO?VIDE A SINKING FUND TO PAY THE PONDS AT tiA-
TURITY• SAID BONDS FOR THE PURPOSE OF MAKING
PERMAN�:NT I}!PROV!-:-STS TO THE WATER WORKS AYS-
TEd WITHIN THE. LI11ITS OF SAID TOWN .t AND REPEAL-
ING ALL OFPINANCE; IN CONFLICT HEH�WITH, AND
DECL?RING AN F71}RCENCY.
RHERF,AS, the Town Commission has heretofore, on the Bth day
of February, 193'."., adopted a resolution and order calling an elec-
tion on the question "shall the Board of Commissloners of the Town
of Prosper, Texas, be authorized to issue bonds of the Town of Pros-
per, Texas, in the sum of Two Thousand (02,000.00) Dollars payable
serially within any given number of years not to exceed ten (10)
years from the date of said bands, bearing Interest at a rate not
exceeding four (0) per centum per annum, interest payable annually,
and to levy an ad valorem tax on all taxable nronerty within the
limits of said Town sufficient to nay the annual interest on said
bonds and provide a sinking fund to ^ay the bonds at maturity; said
bonds for the pur,-ose of making permanent improvements to the water
works system within the limits of sale. T�mn, that is the laying, of
additional water mains within said Town limits, as authorized by the
Constitution and Laws of the State of Texas"; and,
WHERf;Aq, said election was held, pursuant to said resolution
and order, on the 25th day of February, 1939, and resulted favorably
to the issuance of said bonds; and,
the Town Commission has heretofore adorted a resolu-
tion, declaring the results of said election and determining the
specific authority of the Town to Issue said bonds; therefore,
19,
Y
HE IT ORDAINED BY THE TOWN COMMIS31nN OF THE TOWN CF PROSPER,
T Y.AS:
Sao. 1. That bonds of the Town of Prosper, Texas, to be called
*V'",`N OF PROSPER, TEXAS, WATFR SIORRn BONDS, SERIES 1939", be issued
under and by virtue of the Constitution and Laws of the State of
Texas, for the purpose of making permanent Improvements to the water
works system within the limits of said Town, that is the laying of
additional. water mains within said Town limits, in the ,principal sum
of Two Thousand (",000.00) Dollars.
Sea. 2. That said bonds shall be numbered consecutively from
w one (1) to ten (10), both inclusive; and shall be of the :3enomina-
tion of Two Hundred (t20O.00) Dollars each; aggregating the sum of
Two Thousand (1*2,000.00) Dollars.
lee. 3. Said bonds shall be dated March 1st, 1939, and shall
become due and payable, aerially, according to the following schedule:
BOND ::U3.ID:di.5 MATURITY DATE.5 A:':OUN':S
1
March
lot,
1940
$200.00
2
r.arch
lot,
1941
"!200.00
3
March
let,
1942
0200.00
4
March
1st,
1943
'�200.00
5
March
let,
1944
^200.00
6
March
let,
1945
4L00.00
7
March
1st,
1946
44200.00
B
March
let,
1947
1'200.00
9
March
1st,
1948
°200,00
10
Maroh
let,
1949
"200.00
Sea. 4. Thr,t said
bonds shall
bear interest from
date until paid
at the rate of four (0)
per eentum per annum, payable
March let, 1940,
and annually thereafter on March let, in each year, such interest to
be evidencedby proper coupons attached to each of said bonds.
"sec. 5. The principal and int�reet of said series of bonds shall
be payable on presentation and surrender of bonds or proper coupons
in lawful money of the United States of America, at the office of the
:State Treasurer, at Austin, Tex.3o,
red. 6. That each of said bonds s'u,ll be signed by the Mayor,
countersigned by the Town Clerk and registered by the Town Treasurer,
and the corporate seal of the Town of Prosper, Texas, shall be im-
pressed upon each of them. And each interest coupon attached to said
2".
bonds shall be signed by the Uayor and countersigned by the Town
Cl erk.
Soo. 7. The ford of said bonds shall be substantially as follows:
NO. UNITED STATES OF A.'FAICA #200.00
STATE OF TEXAS
COUNTY OF COLLIN
TOWN OF PROSPER, V-4A90 WATFi
BONDS, S_r11IE3 193P.
The Town of Proeper, in the County of Collin, in the gta6e of
Texas, a municipal corporation, for value received, hereby acknow-
ledges itself Indebted to, and promisee to pay to the bearer, the sum
of
'M NUNDRF.D DOLLARS
(w200.00) in lawful money of the United States of America, on the let
day of !March, 19, with interest thereon from the date hereof un-
til paid, at the rate of our (0) per centum per annum, puyable �faroh
let, 1940, and annually ther^after on Tfaroh lat. in each year, on pre-
sentation and surrender of the annexed coupons as they severally ma -
Lure.
BOTH PRINCIPAL, and interest of this bond are hereby made pay-
able at the OFFICE OF THE STATE TREA7URE71, AT AUSTIN, TFXA , and for
the prompt payment of this bond and interest thereon at maturity, the
full faith, credit and resources of the Town of Prosper, Texas, are
hereby Irrevocably pledged.
:HIS BOND is one of a series of like tenor and effect, except
to number and maturity, dated March lat, 1939, numbered from one (1)
to ten (10), both inclusive, each of said bonds being of the denomi-
nation of TWO HUNDRED (,4200.00) DOLLARS, aggregating in amount TWO
THOUSAND (t2,000.00) DOLLA}1S, and issued for the purpose of making
permanent improvements to the water works system within the limits
of said Town, that is the laying of additional water mains within
w said Town limits, as authorized by the Constitution and Laws of the
"i
�3'
LZ9
State of Texas, and pursuant to an ordinance duly adopted by the
Board of Commissioners of the Town of Prosper, Texas, and recorded
in the Minutes of said Board of Commissioners.
ITI IS HEREBY CERTIFIED, RAECITED AND REPRESENTED, that the is-
suaneeof this bond and the series of which it is a part Is duly
authorized by law and by a vote of the qualified property tax paging
voters of the Town of Prosper, Texas, voting at an election held for
that purpose within said Town on the 85th day of February, 1939;
that all acts, conditions and things required to be done pursuant
to and In the issuance of this series of bonds, and of this bond,
w
have been properly done and performed, and have happened in regular
and due time, form and manner as required by law; that sufficient
and proper provision for the levy and eolledtion of taxes has been
made which, when collected, shall be appropriated exclusively to the
payment of this bond and the series of which it Is a part, and to
the payment of the Interest coupons thereto annexed as the same shall
become due; and that the total indebtedness of the Town of Prosper,
Texas, including the entire series of bonds of which this to one,
DOES NOT EXCEED ANY CONSTI'UTIONAL OR STATUTORY LIMITATION.
IN TESTIMPHY WHEREOF the Town of Prosper, Texas, by its Board
of Commissioners, has Caused its corporate seal to be affixed hereto,
and this bond to be signed by its Mayor, countersigned by its Town
Clerk and registered by its Town Treasurer, and the interest coupons
hereto attached to be signed by Its Mayor and Town Clerk, and to be
dated March let, 1939.
Mayor, 'town or Prosper, Texas.
Coanterairned:
Town Olerk.
Registered:
Town Treasurer.
8E.
.,W
Sec. 8. That the form of interest coupons shall be substan-
tially as follows:
NO. ON THE 1ST DAY OF MARCH, e
19
the Town of Prosper, in the County of Collin, in the State of Texas,
a municipal corporation, hereby promises to pay to bearer, at the of -
flee of the State Treasurer, at Austin, Texas, the sum of
DOLLAR+
in lawful money of the United States of America, being one years' in-
terest on the "TOWN OF PROSPER, TEXAS, WATIR WORKS BONDS, SERIFS 193909
dated hearth let, 1939, bond No.
Mayor.
Town Clerk.
Sec. 9. Substantially the following shall be printed on the
back of each bond:
OFFICE OF =!PTROLLFR
REGISTER NC.
STATE OF TEXAS
I HEREBY CERTIFY 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 conformity with the
Constitution and Laws of the State of Texas, and that it is a valid
and binding obligation of the Town of Prosper, Texas, and said bond
has this day been registered by me.
WITNESS MY HAND AND SEAL OF OFFICE, at Austin, Texas, this the
day of 1939.
Comptroller of Public Accounts of
the State of Texas.
23.
Sec. 10. That to pay the Interest on said bonds and create a
Sinking Fund sufficient to redeem them at maturity, a tax of T-,',ENTY
CENTS (20¢) on each $100.00 valuation of all taxable property In
the Town of Prosper, Texas, or such an amount as may at all times be
legally necessary, shall be annually levied on sai(t property and an-
nually assessed and collected, or so much thereof as shall be neces-
sary, or in addition then: -to as may be required, until said bonds,
with interest thereon, have been fully paid; and said tax of TWENTY
CENTS (200 is here now levied for the current year 1939, and so
much thereof as shall be necessary, or in addition thereto as may be
requi•ed, is hereby levied for each succeeding year while said bonds,
or any of them, are outstanding, and the same shall be annually as-
sessed and collected and applied to the purposes named.
Sec. 11. It shall be the duty of the Mayor to submit the record
of said bonds, and of the proceedings authorizing, the same, and said
bonds to the Attorney General of the State of Texas for approval and
thereafter to have theva registered by the Comptroller of the state
of Texas. Said bonds, when properly executed by the Town officials,
shall be held by the tiayor of the Town to be delivered by him to the
purchaser or Purchasers thereof, and the bonds thus authorized shall
pase by delivery. And the Mayor, Town Clerk, and Tomn Treasurer are
authorized and directed to do any and all things necessary and/or
convenient to carry out the terms of this ordinance.
See. 12. All ordinances and resolutions, and parts thereof,
in conflict herewith are hereby expressly repealed insofar as they
conflict herewith.
Sec. 13. By reason of the fact the Town Commission considers
the passage of this ordinance necessary for the preservation of the
public health and safety of the Town and its citizens, it is hereby
declared to be an emergency measure demanding that the rule reeulr-
24.
J�
ing ordinances to be read at more than one meeting of the Town Com-
mission be suspended, andthat this ordinance take effect immediately
from and after its passage, and it Is so ordered.
PASSED AND APPROVED this 28th day of February, 1939.
Mayor, Town or
ATTEST:
it (__'
TOW Cler
(SEAL)
STATE OF TEXAS .
COUNTY OF COLLIN :
TOWN OF rROSP%F .
I, C. W. Harper, Town Clerk of the Town of Prosper,
Texas, do hereby certify the"t the foregoing to a true and correct
copy of an ordinance and the minutes relating to its adoption passed
by the Tnwn Commission of said Town on the 28th day of February,
1939, and that it has been properly enrolled, Placed in the office
of the Tnwn Clerk and aroroved by the Mayor, having been recorded
In Book page / st eeq., of the Minutes of the Town
Commission of said Town.
EXECUTED under my hand and seal of said Town, this
28th day of February, 193'.3.
own I r A, 4fof Prosper, Texas.
(DEAL)
%*— THE STATE OF TEXAS
COUNTY OF COLLIN
TOWN OF PROSPER
I, C. W. Harper, the Town Clerk of the Town of Prosper,
Texas, do hereby certify that the above and foregoing copies of:
I.
(a) Resolution of the Town 6ommission of the Town of
Prosper, Texas, palling a Bond Election;
(b) Notice of election;
(a) Affidavit of posting election notices;
(d) Election returns;
(a) Ballot used at election;
(f) Resolution canvassing returns and declaring result
of such election;
(g) Ordinance authorizing the Issuance of the bonds;
are true and correct conies of the original now on file and of record
In my office.
II.
I further certify that the resolution of the Town Com-
mission of the Town of Prosper, a as, ordering such bond election to
of record in Vol. _..%._-, pag, eA seq., of the Minutes of such
Town Commission, whloh Minutes have been duly signed and approved by
the 'Ilayor.
III.
I further certify that the resolution canvassing the re-
turns and declaring the results of said election appears in Vol.
, page 44 , at seq., of the trinutes of the said Town
o salon, wh nnuutes have been duly signed and approved by the
tayor.
IV.
10~ I further certify that the ordinance authorizing the is-
suance of the bonds was passed at a regular meeting of the Town Com-
mission, all members thereof being present, and appears of record in
Vol. , page /�_, et seo., of the Minutes of said Town
Comm ee on, and said ordinance has been duly approved and same, to-
gether with the Minutes thereof, signed by the 4ayor.
V.
I further certify that all nrooeedin�a of any character,
which in any way effect the bond issue authorized herein are shown
herein.
Witness my hand and seal of said Town of Prosper, Texas,
this the 2Bth day of February, A.n. 1939.
$owri 'Leek, �f of Proener, Texas.
OEM,)
26.
_W STATEI:1ENT OF INDEBTEDNE3`? AND TA%ABLE VALUES "F
THE TOWN OF PRn'1PFR, TEXAS.
The following is a complete statement of the Indebtedness
of the Town of Prosper, Texas, on the 28th day of February, 1939,
and also of the taxable values of said Town, as shown by the as-
sesament rollat
I.
BONDED INDEBTEDi.E33
KIND OF BONDS DATE INT'i EST MATURITY AMOUNT OUTSTANDING
Town of Prosper, B-1-38 4% Serially ,#12,000.00
Waterworks Sys- B-1-42
tem Revenue Bonds, 8-1-CZ
Series 1938.
The above mentioned bonds are as to principal and Interest pay-
able solely from the revenues of the water works system of the Town of
Prosper, Texas, said bonds Issued Pursuant to authority of Articles
1111-1118, both inclusive, of the 1946 Revised Civil Statutes of Texas,
as amended, and the payment of such obligations are not a charge on any
funds raised or tc be raised by taxation.
II.
WARRANTED INDEBTEDNESS
KIND OF t1ARPANTS DATE, INTF,RF.9T tATURITY AMOUNT OUTSTANDING
III.
OTHER INDEBTEDNESS
Total Bond and warrant indebtedness of every o0
Character ��OO
Cssh on hand in sinking fund to credit of
above described warrants
IV.
TAXABLE VALUES;
Assessed values of real estate and personal
—� property for the year 1938, as shown by the
last assessment rolls, 4 145,450.00
I hereby certify that the above and foregoing statement exhi-
bits a true and correct account of the indebtedness of the To-n of
?'roarer, Texas, as shown by the assessment rolls of said Town, on
February 28th, 1939, anf! also a correct statement of the taxable
values of said Town, as shown by the assessment rolls of said Town
for the year 1939.
I further certify that the rendition of taxes, as shown by
the assessment rolls for the year 1939, have not been yet acted upon
by the Board of Equalization of said Town, and that the assessed
values when acted upon by the Board of Equalization in my opinion
w will be materially increased.
Given under my hanu and seal of said Town of Prosper, Texas,
this the 28th day of February, 1939.
Town, 'ro �oT Yroeper, Texas.
(UAL)
'� D
THE STATE OF TEXAS .
COUNTY OF COLLIN .
WHENAAe, the Town of Prosper, Texas, has taken proceedings
approoriate to obtain funds for the purpose of making permanent
Improvements to the water works system within the limits of said
Town, that Is the laying of additional water mains within said Town
limits, as authorized by the Constitution and taws of the State of
Texas, and to obtain such funds the Town Commission of the Town
of Prosper, Texas, has passed an ordinance on February 28th, 1939,
authorizing the issuance of Town of Prosper, Texas, Water Works
Hon'.s, Series 1939, in the aggregate amount of 42,000.00, bearing
Interest at the rate of 4% per annum, and it being neeess,,:ry to
secure non-lltig4.tion certificate, with reference to said bond
issue, to the end that approval of said issue may be obtained
from the Attorney General of this State.
NOW, THEREM E, I, J. C. Cantrell, Clerk of the District
Court of Collin County, Texas, do hereby certify that there is no
litigation of any nature that is now pending, or to my knowledge
threatened in the District Court of Collin County, Texas, to re-
strain or enjoin said work proposed to be done by said Town of
Prosper, Texas, or the financing of such proposed improvements,
or in any manner questioning the authority of the Town of Prosper,
Texas, to make the above mentioned permanent improvements, or to
finance the construction of such improvements in the manner set
out above, nor in any manner questioninc the validity of the bonds
to be issued pursuant to the terms of the above mentioned ordinance.
IN WITNESS WHF;RV'F I have hereunto set my hand and the seal
of said Court this 3rd clay of March, A.D. 1939.
�ws
C or tW District Court of
Collin County, Texas.
(SEAL)