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39-10 R - Accepting Grant from US GovernmentACCEPTANCE PROCEEDINGS ACCEPTANCE R -SOLUTION AI.9 MINUTES PERTAINING TO ITS ADOPTION TEN STATN. OE T1W COUNTY OF COLLIN The Board of Commissioners of the Tom of Prospers Texas. convened In Special sessions at the regular mestin 6 Place on this 24th day of April . 1939. with the following nembere presents to -wits (The members named constitute all the members of said Board of Commissioners.) U.N.Clary r Mayor C.'W.Harper Tom Clerk A.E.Robison W.H.Field Commissioner Commissioner Commissioner . Commissioner . Commissioner with the following absents NONE., constituting a quorum, at which time the following. among other business, was transacted, to -wits A.E.Robison Introduced a proposed resoluti>n and noved its adoption. The resolution was reed in full. W.H.Field seconded the motion. The motion was carried by the following votes AYES U.N. Clary A.E.Robison B.H.Field NOES: NON? The Mayor announced that the r^solution had been finally passed. The rosolution is as follows: RV;SOLUTION ACCEPTING AN OFFER OF THE UNITED STATES OF ANERICA TO AID BY WAT OF LOAN AND ORA41T IN FI'nA1CING A PROJrCT Tnlr,•IN D_gICRIHF.D. BN IT RNSOLTO by the Board of Commissioners of the Town of Prosper, Texast 1. That the Offer of the United Stat •a of America to the Town of Prosper to aid by ray of loan and Arent in financing the construction of improvements and extensions to waterworks system, including the acquisition of an existing waterworks system and the acquisition of neces^ary land and rights of way, said Offer reading as followa: P. W. 88919-8 F ',,!,'lL al-,RGENCY ADMINISTRATION OF PUBLIC 'WORKS ^ovm of Prosper, Prosper. Collin County. Texas. ':iashington, D. C., uateds Apr 21 1939 Docket No. Tog. 1370-F 1. subject to the Tome and Conditions (77A Farm No. =. as amended to the date of this Offer) which are made a part hereof" the United States of America (heroin called the "Government"). hereby offers to aid in fi- nancing the construction of improvements and extensions to waterworks systeme including the acquisition of an existing waterworks eyetm and the acquisi- tion of necessary land and rights of way (all herein Called the "Project", such watermarks system". including the completed Project, together with all improvements and extensions thereto and replacements Sher^.of hereafter con- structed or acquired, being heroin called the "System"). by making a grant to the Town of Prosper (herein called the "Applicant") in the amount of 48 percent of the coat of the Project upon an^plet'on, as determined by the Federal Emarrnoy Administrator of Public Works (herein called the "Adminis- tr"tor"), but not to exceed, in any avant, the sun of A9*818s and by pnrchas- ing from the Applicant, at the principal amount thsrof plus accrued interest thereon, obligations (herein celled the "Bonds") of the description set forth below (or such other description as shall be mutually satisfactory) in the aggregate principal amount of 10,0001 (a) Obligor& `='own of Prosper; (b) Type: Special oblidrltion, waterworke revenue, serial, coupon bond; (o) Denominations& $110 and $500; (d) *;ate: 1,ugu,t I. 1938; (a) Interest rate and interest payment dater: 4% per annne, payanle semi-annms?ly on February 1 and August 1, in each year; (f) Place of payment: Office of the Trsasmrer of the ^Late of Texc7, at Austin, Texas; (g) t'aturities; on August 1, in amounts and years as follows; .�2[C in 19-i2 and 1943, 300 in 1944 and 1945, and 500 in 1946 and 1963, inclusive; (h) Payable as to both principal and interest fn m and secured by an exclusive first lien on end pledge of the revenue of the System after deduction of reasonable operation and mainVnance expenses. 2. By acceptance of this Offer the Applicant covenants to complete the Project with all practicable disnatch, end in any event by June 27, 1939. 3. Mis Offer to :Wade subject to the following vNIcial conditional (a) If tha Administrator shall determine at aV time that the Applicant has paid or agreed to pew, whether directly or indirectly, a oonua, commission or fee to any person, firm or corporation for attempting to procure an approval of the Applicant's cppliceticn, or for alleged enrvieas in procur- ing or in attempting to procure such approval, or for activities of the nature commonly known as lobbying porf,,rn d or agreed to be performai in connection with the application, then the Administrator shall have the right, in his disere. tion, to rescind this Offer and any agreements resulting herefron, and, in the event of such reeoiselon, the United States of America shall be under no further obligation here- under; (b) In determining the cost of the 'reject for the purpose of computing the amount of the grant, the Administrator will not include as eligible, on acwunt of the oast of acquit_ ing existing waterworks facilities, any amount in excess of $2.300; (a) Notwithstanding any other provisions of this Offer or of the said Terms and Conditions, the Government may refuse to take up end pay for any of the Bonds or to make any further pay- ment or payments on account of the grant unless and until the Applicant shall have deposited in the Construction Account (described in Paragraph 5 of Part II of the said Terms ani Conditions) the was of $2.000 or such other amount as will, together with the prooseds of the Bonds and the payments on account of the grant hereunder, suf"'ice (in the determination of the Administrator) to pay all costs incurred in connection with the construction and c,opletion of the Project. .i. The ewcepte,aca of this Offer by the Applicant shall effectuate P. cancellation of the contract created by the acceptance of the Offer dated June PA. 1938, made by the United "tates of A;erlca to the APPli- cantt Provided, that the epnoellntlon of such contract shall not impair or vitiate any acts performed or proceedings taken thereunder prior to such car,aell.,t ion, but %uah note or -:rooendin2s may be continued under the contract created by the acceptance of this Offer. UNITED ST.AiI.S 0" AHEI;ICA Pederal Dnerp,»noy administrator of Public Works 9y { iet':. j� Iy 0 e'v P-eels nnC�Adminl tar be be and the servo Is hereby in all respects accepted. 2. That said Town oiP- sOoper cgreeo to abide by all the `ierms and Conditions of said offer, including the Terms and Conditions annexed thereto and made a part thereof. 3. 'Ahat the Toram Clerk "-e anal he is hereby sutnorizcd and directed forthwith to send to the Federal zmer.n;ncy Administration of Public +orks thr-,e certified copies of the proceedings of the Board at Commissioners in connection with the adoption of :his Resolution, aetting forth this ":leolution In Hill• and such "urther documents or proofs in connection with the acceptance of said OiSer no may be requested by the Federal I1norrancy Administration of Public ±fork%. PA49ND ANn AP`�D T?I9 24th day of (SM) A':?' April , 1939 �r— waTvICAT' OF TOWN CLERK 'PNg STATE OF TE.RAS COUNTY OF COIIIN Prosper. Teaas, 1, the undersigna& Town Ohrk o£ the Town of that the above and foreCoSnq is a true and correct copy do hereby certify to its adoption) adopted at d of the minutes pertaining held on of a reeolutSoa (�+ Board o Special f Commissioners session o4 the olution 1s • A ril 1939, which re^- 24th day of 1 . page-147�. the said Board. Yolum®�.,.--� the minutes of the Town of of record in band and the .eel of said 'aaecuted under my April , 1939. . this 24th day of Prosper (SEAL) mTs n OF SPECIAL MVIETING TEE STATE OF TEXAS COUNTr OF COLLIE To the Members of the Board of Commissioners of the Town of Prosper, Collin County, Terns. Notice is hereby riven that a special mooting of the Board of Commissioners will be held in the Directors Boom at the Prosper State Bank Bldg. at three o1clock P. M. on the 24th day of April . 1930, for the purpose of con— sidering an Offer of the United States of America to aid by my of a loan and gr:mt in financing the construction of improvements and extensions to waterworks cyst® including the Acquisition of an existing waterworks aysten and the acquisition of nscessary land and ruts of way and adopting a resolution approving and authorizing the acceptance of such Offer. Dated this 24th dsy of April , 1939. = v CON5ENT TO M'7 TINO se, the undersigned, being all the members of the Board of Commissioners of the Town of Prosper, Texas, hereby accept service of the foregoing notice, waiving any and all irregularities in such service and such notice, and consent and agree that said Board of Commissioners shall meet at the time and place therein named, and for the purposes therein stated. 4414) �, , ��.