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39-07 O - Amending 39-06 O, Issuing Water Works Bondss' THE STATE OF TEXAS COUNTY OF COLLIN TOWN OF PROSP'_,R The Town Commission of the Town of Prosper, Texas, convened In Regular Meeting on the 22nd day of March, 1939, with the follow- Ing 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 W. H. Field introduced a proposed ordinance. The ordinance was read in full. Commissioner A. E. Robison made a motion that the rule re- quiring ordinances to be read at more than one meeting be suapended. The motion was seconded by Commissioner W. H. Field. The motion carried by the following vote: AYES: Commissioners W. H. Field and A. E. Robison and mayor U. N. Clary. N'-'ES: None. Commissioner W. H. Field made a motion that the ordinance be naeeed finally. The motion was seconded by Commissioner A. F. Robi- son. The motion carried by the following, vote: AY'S; Commissioners W. H. Field and A. E. Robison and Mayor U. N. Clary. NOES: None. —� The Mayor announced that the ordinance had been finally passed. The ordinance is as follows: 18. AN ORDINANCE i TO AMEND AN ORDINANCE BY THE. TOWN COMNIS?ION OF THE TOWN OF PROSPzR, TEXA', FEBRUARY 28TH, 1939, AS THE ^.;A3E APPEARS OF RECORD IN BOOK 1, PAGE 129, ET SEQ., OF THE MINUTES OF SAID TOWN COMMISFION SO AS TO AUTHORIZE THE ISSUANCE OF TOWN OF PROSPFR, TEXAS, WATER WORKS BONDS 51,RILS 1939, IN THE SUM OF 22 000. 00, BEARING INTEFZEBT AT THE RATE bF 4% PER ANNUM, INTEREST PAYABU ANNUALLY AND TO LEVY AN AD VALORF,'1d TAX OF 25¢ ON EACH 41100.00 VALUATION OF ALL TAXABLE PROPERTY WITHIN THE LIMITS OF SAID TOWN SUFFICIENT TO PAY THE ANNUAL INTFREST ON SAID BONDS AND PROVIDE A SINKING FUND TO PAY THE BONDS AT MATURITY; SAIP BONDS FOR THE PURPOSE OF [BAKING PERMANENT IMPROVEMENTS TO THE WATER WORKS SYSTEM WITHIN THE LIMIT3 OF SAID TOWN, AND REPLALING ALL ORPINANCES IN CONFLICT HEREWITH, AND DECLARING AN EMERGENCY. WHEREAS, the Town Commission has heretofore, on the Rth day of February, 1939, adopted a resolution and order calling an election on the question: "Shall the Board of Commissioners of the Town of Pros- per, Texas, be authorized to issue bonds of the Town of Prosper, Texas, in the sum of Two Thousand (04 ,000.00) Dollars payrabl.e serially within any given number of years not to exceed ten (10) years from the date of said bonds, bearing interest at a rate not exceeding four (4%) per cen- tum per annum, interest payable annually, and to levy an ad valorem tax on all taxable property within the limits of said Town sufficient to nay the annual interest on said bonds and provide a sinking fund to nay the bonds at matur- ity; said bonds for the purpose of making permanent Improve- ments 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 laws of the State of Texas": and, WHEREAS, 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, WHEREAS, the Town Commission has heretofore adopted a. resolu- tion, declaring the results of Raid election and determining the specific authority of the Town to issue said bonds; and, WHEREAS, said Town Commission did on February 28th, 1939, pass an ordinance authorizinf. the issuance of bonds for said purpose, and levying an ad valorem tax of T;IENTY CENTS (200) on each $100.00 valu- ation of all taxable property within the limits of said town, which ordinance appears of record in Book 1, Pape 129, at sec., of the Min- utes of said Town Commission, and said Town Commission deems it nec- essary and proper to amend said ordinance so passed, so as to nrovide for the annual levy of a tax of T'!iENTY FIVE CENTS (2") on each O100.00 valuation of all taxable property in said Town; therefore, 19. BE IT ORDAINED BY THE TORN G-MMIS'ION OF THE TOWN ()F PROSPER, TEXAS: sec. 1. That the ordinance, which authorizes the issuance of "To'�N OF PR03P�R, TF.XAS, WATER W9RK:3 PONDS, SL•RIES 19390, heretofore ado^ted by the Town Conimiesion of said Town February 28th, 1939, as the same appears of record in Book 1, pare 129, et ser., of the Minutes of said Town Commission, be, and the same to hereby, amended an as hereaf- ter to read as follows: That bonds of the Town of Prosper, Texas, to be called "TORN OF PROSPER, TEXAS, RATER WORKS BONDS, 3 RIES 19340, be is- sued under and by virtue of the Constitution and Laws of the Rtate 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 Thou- sand (18,000.00) Dollars. Sao. 2. That said bonds shall be numbered consecutively from one (1) to ten (10), both inclusive; and shall be of the denomination of Two Hundred (6200.00) Dollars each; agP.reeating the sum of Two Thousand (t,4,000.00) Dollars. sec. 3. Said bonds shall be dated ?!arch let, 193^, andshall become due and payable, serially, according to the following sohedule: 801:1) NUVBFFS mATURITY DATES AMOUNTS 1 March let, 1940 200.00 2 March let, 1941 e0e.00 3 March let, 1942 200.00 4 :.larch let, 1943 -200.00 5 March let, 1944 .200.00 6 varoh let, 1945 200.00 w 7 `daroh let, 1946 200.0) 8 March let, 1947 -200.00 9 March let, 1948 17200.00 10 warch let, 1949 T200.00 Sec, 4. That said bonds shall bear interest from date until paid at the rate of four (44) per centum per annum, payable March lat, 1940, and annually thereafter on March 1st, in each year, such interest to be evidenced by proper coupons attached to exoh of said bonds. lea. 5. The principal and interest of said series of bonds shall be payable on presentation and surrender of bonds or proper anup^ne In lawful money of the United States of America, at the office of the State Treasurer, at Austin, Texas. lea. 6. That each of said bonds shall be signed by the Aayor, oountersighed 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 2n. 0 bonds shall be signed by the Mayor and oounteraigned by the Town Clerk. Sec. 7. The form of said bonds shall be substantially as follows: NO. UNITED STAfES OF AmIER1CA $200.00 STATE OF TEXAS COUNTY OF COLLIN TOWN OF PROSP'R, TEXAS, WAVR WORKS BONDS, SERIES 1939. The Town of Prosper, In the County of Collin, in the State of Texas, a municipal corporation, for value received, hereby aoknow- "� ledges itself indebted to, and promises to pay to the bearer, the sum of TWO HUNDRED DOLLARS ((200.00) 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 four (4%) per centum per annum, payable March let, 1940, and annually thereafter on March 1st, in each year, on pre- sentation and surrender of the annexed coupons as they severally me- ture. BOTH PRINCIPAL, and interest of this bond are hereby made Day - able at the OFFICE OF THE STATE THEASURI?:., AT AU^.TIN, 'TEXAS, and for the prompt payment of this bond bnd interest thereon at maturity, the full faith, credit and resources of the Town of Prosper, Texas, are hereby irrevocably pledged. THIS BOND is one of a series of like tenor and effect, except to number and maturity, dated March let, 1939, numbered from one (1) to tan (10), both inclusive, each of said bonds being of the denomi- nation of TWO HUNDRED (0,200.00) DOLLARS, aggregating in amount TWO THOUSAND ($2,000.00) DOLLARS, and Issued for the purpose of making permanent improvements to the water works system within the limits of said Town, that Is the laying of additional water mains within said Town limits, as authorized by the Constitution and Laws of the 21. State of Texas, and pursuant to an ordinance duly adopted by the Board of Commissioners of the Town of Prosper, Texas, and recorded In the PIinutes of said Board of Commissioners. I'T IS HEREBY CERTIFIED, RECITED AND REPRESENTED, that the is- suance of this bond and the series of which It Is a part Is duly authorized by law and by a vote of the qualified property tax paying voters of the Town of Prosper, Texas, voting at an election held for that purpose within said Town on the 25th day of February, 1939; that all acts, conditions and things required to be done pursuant to and In the issuance of this series of bonds, and of this bond, -� have been properly done and performed, and have happened in regular and due time, form and manner as required by law; that sufficient i and prrper provision for the levy and collection of taxes has been made which, when collected, shall be appropriated exclusively to the payment of this bond and the series of which It is a part, and to the payment of the Interest coupons thereto annexed as the same shall become due; and that the total indebtedness of the Town of Prosper, Texas, including the entire series of bonds of which this Is one, DOES NOT EXCEED ANY CONSTITUTIONAL OR STATUTORY LIMITATION. IN TESTIMONY WWliEOF the Town of Prosper, Texas, by its Board of Commissioners, has caused its corporate seal to be affixed hereto, and this bond to be signed by Its Mayor, oountersigned by its Town Clerk and registered by its Town Treasurer, and the Interest coupon$ hereto attached to be signed by its Mayor and Town Clerk, and to be dated March let, 1939. Countersigned: Town Clerk. Mayor, Town or Prosper, Texas, Registered: Town Treasurer. 22. Sec. S. That the form of interest coupons shall be substan- tially as follows: NO. ON THE 1ST DAY OF MARCH, ^� 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 - floe of the State Treasurer, at Austin, Texas, the sum of DOLLARS In lawful money of the United States of America, being one years' in- terest on the "TnWN OF PROSPER, TEXAS, WATER WORKS BONDS, SERIES 19390, dated March let, 1939, bond No. Mayor. Town Clerk. Sec. 9. Substantially the following shall be printed on the back of each bond: OFFICE OF COMPTROLLER REGISTER NO. STATE OF TEXAS I HSRFBY 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 recuired 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 In a valid and binding obliFatlon of the Town of Prosper, Texas, and said bond has this day been registered by me. WITNESS MY HAND AND SEAL OF O;'FICE, at Austin, Texas, this the day of , 1939. Comptroller of Public Accounts of the State of Texas. 23 ,7. 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 FIVE CENTS (2590 on each 9100.00 valuation of all taxable property in the Town of Prosper, Texas, or such an amount as may at all times be lePally necessary, shall be annually levied on said property and an- nually assessed and collected, or so much thereof as shall be neces- sary, or in addition thereto as may be requi ad, until said bonds, with interest thereon, have been ful":y paid; and said tax of T'"ENTY FIVE CENTS (250) is here now levied for the current year 1939, and so much thereof as shall. be necessary, or in addition thereto as may be required, 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 sa,ae, and said bonds to the Attorney General of the State of Texas for anproval and thereafter to have them registered by the Comptroller of the State of Texas. Said bonds, when properly executed by the Town officials, shallbe held by the Mayor of the Town to be delivered by him to the purchaser or purchasers thereof, and the bonds thus authorized shall pass by delivery. An,' the Mayor, Town Clerk, and Town Treasurer are authorized and directed to do any and all things necessary and/or convenient to carry out the terms of this ordinance. Sao. 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 reouir- 24. t � 5 � , ing ordinances to be read at more than one meeting of the Town Com- mission be suspended, and that this ordinance take effect immediately from and after Its passage, and it is so ordered. "AsSED AND APPH09ED this 22nd day of March, 1939. Y �I Mayor, Town ofds lP, Texas. ATTEST: Y own C e! k / STATE OF TEXAS : COUNTY OF COLLIN : T01"N OF PROSPFR : I, C. W. Harper, Town Clerk of the Town of Prosper, Texas, do hereby certify that the foregoing is a true and correct copy of an ordinance and the minutes relating to its adoption passed by the Town Commission of said Town on the 28th day of February, 1939, and that it has been properly enrolled, placed in the office of the Town Clerk and approved by the Mayor, having been recorded in Hook I , page /_i , et sea., of the Minutes of the Town Commission of said Town. EXECUTED under my hand and seal of said Town, this 22nd nay of March, 1939. Y Own e , W, wn�60 Pr, Texas. 2`u.