Ordinance No. 418C�
•
•
ORDINANCE �ro.��-I
ORDINANCE PROVIDING FOR DEPOSIT OF FUMS
AND FIXING DCTAILS GOVERNING _CANCELATION,
EXCHANGE ArD REFUNDING OF WATERII.ORKS AND
SEl7ER SYSTEi.1 REVENUE BONDS; CONTAINING
OTHER PROVISIONS RELATING TO THE SUBJECT;
AND PROVIDING THAT THIS ORDINANCE SHALL
TAKE EFFECT FROM AND AFTER ITS ADOPTION,
THE STATE OF TEXAS i
X
COUNTY OF HARRIS X
The City Council of the City of Baytown, Texas, convened
in h U session at the City Hall within said City on the A&Z-4- -
day of flay, 1957, with the following members present, to -wit:
R. H. Pruett Mayor
!7. C. Siva in Councilman
James Garrison Councilman
Al Clayton Councilman
Paul Mears Councilman
?'falter Lane Nard Councilman
Lacy Lusk Councilman
Edna Oliver City Clerk
and the following members absent, to -wit:
when the following business was transacted:
The I.iayor introduced an ordinance which was read in full.
Councilman made a motion that the ordinance be adopted
as read. The motion for adoption was seconded by Councilman
and carried by the following vote:
Ayes: Councilman Swain Nays: None
Councilman Garrison
Councilman Clayton
Councilman Bears
Councilnan Ward
Councilman Lusk
Mayor Pruett
The ordinance thus adopted follows:
ORDINANCE PROVIDING FOR DEPOSIT OF FUNDS
AND FIXING DETAILS GOVERNING CANCELATION,
EXCHANGE AND REFUNDING OF VATEREURKS AND
SEUER SYSTEM REVENUE BONDS; CONTAINING
OTHER PROVISIONS RELATING TO THE SUBJECT;
AND PROVIDING THAT THIS ORDINANCE SHALL
TAKE EFFECT FROFI_ AND AFTER ITS ADOPTION.
WHEREAS, the City Council of the City of Baytown, Texas,
40 has heretofore on the 13th day of May, 1957, adopted (a) an ordinance
authorizing the issuance of $230,000 City. of Baytown Vaterworks and
Sewer System Refund Bonds, Series 1957, dated Nay 15, 1957, and (b)
an ordinance authorizing the issuance of $465,000 City of Baytown Uater-
works Revenue Refunding Bonds, Series 1957, dated May 15, 1957; and
1':41CREAS, it was provided in the ordinance authorizing said
$465,000 Revenue Refunding Bonds that the details governing the cancela-
tion and exchange of the underlying revenue bonds would be specified in
an ordinance to be subsequently adopted; and
VHEREAS, the bonds to be refunded by said $465,000 Revenue
• Refunding Bonds are the following:
City of Goose Creek Waterworks and Sewer
System Revenue Bonds, dated August 1,
1945, Bonds Nos. 90/150 and 207/250, ag-
gregating $105,000, maturing on August
1st in each of the years 1958 to 1964,
both inclusive $ 105,000.00
City of Pelly 11aterworks and Sewer System
Revenue Conds, dated December 1, 1945,
Bonds Nos. 50/150 and 182/235, aggregating
$155,000, maturing on December 1st in each
of the years 1958 to 1970, both inclusive 155,000.00
Harris County !later Control and Improve-
ment District No. 7 11aterworks and Sewer
System Revenue Bonds, Series 1945, dated
I,jarch 1, 1945, Bonds Nos. 43/117, aggre-
gating $105,000, maturing on March lst in
• each of the years 1958 to 1975, both
105,000.00
inclusive
•
Harris County Uater Control and Improve-
ment District No. 7 11aterworks and Sewer
System Revenue Bonds, Series 1945A, dated
September 1, 1945, Bonds Nos. 21/60 ag-
gregating $40,000, maturing on September
1st in each of the years 1958 to 1975,
both inclusive 40,000.00
Harris County Plater Control and improve-
ment District No. 7 Vaterworks and Sewer
System Revenue Bonds, Series 1946, dated
December 1, 1946, Bonds Nos. 31/90, ag-
gregating $60,000, maturing on December
1st in each of the years 1956 to 1975,
both inclusive 60,000.00
192"
and
tnirREAS, 1.1oroney, Beissner & Co. , Houston, Texas, the
holder of the bonds issued by the City of Pelly, described above,
has consented to the refunding of said bonds as hereinafter provided
in this ordinance, and has consented to the payment and cancelatiorn
of the bonds of that issue maturing December 1, 1957; and
1,1HEREAS, the City Council has heretofore authorized the
giving of notices to redeem the bonds issued by the City of Goose
Creek and by Harris County Water Control and Improvement District
No. 7, described above, on the following dates: (a) the bonds is-
sued by the City of Goose Creek, on August 1, 1957, (b) the Series
1945 bonds issued by Harris County !'later Control and Improvement
• District No. 7, on September 1, 1957, (c) the Series 1945A bonds
issued by said District, on September 1, 1945, and (d) the Series
1946 bonds issued by said District, on June 1, 1957; and
1,1HEREAS, said Moroney, Beissner 6 Co. has agreed to make
firm and adequate banking arrangements with the banks of payment for
the payment of the principal of the underlying bonds, and to surren-
der said bonds for cancelation and exchange for the bonds hereinafter
authorized; and
WHEREAS, all 1957 maturities of the bond issues described
above are to be paid, as follows:
• Goose Creek: The City will deposit funds with the
bank of payment for the payment of Bonds Nos. 82/89
and 201/206, aggregating $14,000, on their maturity
date, to -twit: August 1, 1957 (which is also the
redemption date of the bonds to be refunded);
•
e��: The holder of the bonds has consented to
the payment and retirement of Bonds Nos. 43/49 and
160/181, aggregating $9,000, which bonds would
oche nwise mature on December 1, 1957;
District No. 7, dated 3-1-45: The 1957 maturities
have been paid at maturity on t:!arch )., 1957;
District No. 7 dated 9-1-45: The C;ty will de-
posit funds with the bank of payment for the
113"
•
and
payment of Bonds Nos. 19/20, aggregating $2,000,
on their maturity date, to -wit: Septeiiiber 1,
1957 (which is also the redemption date of the
bonds to be refunded); and
District No. 7 dated 12-1-46: The City will
deposit funds with the bank of payment for the
payment of Bonds Nos. 28/30, aggregating 'Y3,000,
on June 1, 1957. Said bonds would otherwise
mature on December 1, 1957, but have been
called for payment on June 1, 1957;
IIIEREAS, with respect to the bonds called for redemption,
the City will also deposit with the banks of payment moneys suf-
ficient to pay all interest falling due on the redemption dates,
respectively, and the premium on those bonds which carry a call pre-
niun; and
111EREAS, the City Council now wishes to specify the
amounts that shall be deposited with the banks of payment and to fix
the details governing the exchange and cancelation of the underly-
ing bonds; Therefore
BE IT ORDAINED BY T11C CITY COUNCIL OF TIME CITY OF BAYTOVV :
Section 1: (a) That, with respect to the City of Goose
Creek llaterworks and Sewer System Revenue Bonds, dated August 1,
1945, the appropriate City officials shall cause funds in the amounts
described below to be irrevocably deposited with the First National
Cank, Baytown, Texas (successor to the First National Bank, Goose
Creek, Texas), paying agent for said bonds:
To pay principal of Bonds Nos.
82/49 and 201/206 on 6-157 $ 14,000.00
To pay interest on Bonds hos.
82/150 and 201/250 on 8-1-57 1,636.25
15,636.25
(b) That Moroney, Beissner & Co., Houston, Texas, shall
make firm and adequate banking arrangements l:_.i.i: said First National
[lank to pay on August 1, 1957, the principal c" Bo+%!s Nos. 90/150
and 207/250, aggregating $105,000.00.
"411
(c) That the Mayor is hereby authorized arsd directed to
• write, for and on behalf of the City, a letter substantially in the
form set forth in EXHIBIT A attached hereto and made a part of this
ordinance as though fully set forth herein, to said First National
Flank.
Section 2: (a) That, with respect to the I:arris County
Nater Control and Improvement District No. 7 Waterworks and Sewer
System Revenue Bonds, Series 1945, dated Farch 1, 1945, the appro-
priate City officials shall cause funds in the amounts described
below to be irrevocably deposited with :ie First City National Bank
of Houston, Houston, Texas (successor to the City National Bank of
Houston, Houston, Texas), paying agent for said bonds:
To pay interest on Bonds Nos. 43/147
on 9-1-57 $ 1,575.00
To pay 1% premium on Bonds Nos.
03/147 650.00
$ 2,225.00
(b) That Eoroney, Beissner C Co., Houston, Texas, shall
make firm and adequate banking arrangements with said First City
National Bank of Houston to pay on September 1, 1957, the principal
of Bonds Nos. 43/147, aggregating $105,000.00.
(c) That the Mayor is hereby authorized and directed to
• write, for and on behalf of the City, a letter substantially in the
form set forth in EXHIBIT B attached hereto and made a part of this
ordinance as though fully set forth herein, to said First City
National Bank of Houston.
It
Section 3: (a) That, with respect to the Harris County
Water Control and Improvement District No. 7 Vaterworks and Sewer
System Revenue Bonds, Series 1945A, dated September. I, 1945, the
appropriate City officials shall cause funds in the amounts described
below to be irrevocably deposited with The First City National [lank
of Houston, Houston, Texas (successor to The City National Bank of
"510
Houston, Houston, Texas), paying agent for said bonds:
To pay principal of Bonds Nos. 19/20 $ 2,000.00
on 9-1-57
To pay interest on Bonds Nos. 19/60
on 9-1-57 570.00
To pay 1% premium on Bonds Nos. 21/60 400.00
$ 2,970.00
(b) That Noroney, Beissner & Co., Houston, Texas, shall
make firm and adequate banking arrangements with said First City
National Bank of Houston to pay on September 1, 1957, the principal
of Bonds Nos. 21/60, aggregating $40,000.00.
(c) That the r3ayor is hereby authorized and directed to
• write, for and on behalf of the City, a letter substantially in the
form set forth in EXHIBIT C attached hereto and make a part of this
ordinance as though fully set forth herein, to said First City
National Bank of Houston.
Section 4: (a) That, with respect to -the Harris County
11ater Control and Improvement District No. 7 waterworks and Sewer
System Revenue Bonds, Series 1946, dated December 1, 1946, the appro-
priate City officials shall cause funds in the amounts described
below to be irrevocably deposited with The First City National Bank
of Houston, Houston, Texas (successor to The City National Bank of
Houston, Houston, Texas), paying agent for said bonds:
To pay principal of Bonds Nos. 28/30
which are called for redemption on
6-1-57 $ 3,000.00
To pay interest on Bonds Nos. 28/90
on 6-1-57 1,053.75
To pay 2% premium on Bonds Nos. 31/90 1.200.00
$ 5,253.75
(b) That Lioroney, Beissner & Co., youston, Texas, shall
make firm and adequate banking arrangements with said First City
National Bank of Houston to pay on June 1, 1957, the principal of
0
Bonds Nos. 31/90, aggregating $60,000.00
(c) That the [.payor is hereby authorized and directed to
write, for and on behalf of the City, h letter substantially in the
form set forth in EXHIBIT D attached hereto and made a part of this
ordinance as though fully set forth herein, to said First City
National Bank of Houston.
Section 5: That there shall also be paid to said banks
of payment all fees or charges thereof for acting as paying agents
for the bonds.
Section 6: That the funds so deposited with the banks of
payment, as provided in Sections 1 to 4, both inclusive, of this
® ordinance, shall constitute trust funds, and shall be used only and
solely for the purposes set forth in said Sections 1 to 4, both
inclusive.
Section 7: That the outstanding bonds shall be exchanged
for the following Series 1957 revenue refunding bonds (and upon such
exchange shall be canceled by the Comptroller of Public Accounts of
the State of Texas);
(a) Bonds Nos. 90/150 and 207/250 of the City of Goose
Creek t?aterworks and Sewer System Revenue Conds, dated Autust 1,
1945, shall be exchanged for Bonds Nos. 1/33,•41/75, 89/118, and 449/454
• of the Series 1957 revenue refunding bonds.
F -IL
(b) Bonds Nos. 50/150 and 182/235 -of the City of Pelly
Uaterworks and Sewer System Revenue Bonds, dated December 1, 1945,
shall be exchanged for Bonds Nos. 34/40, 76/82, 119/126, 160/172,
200/220, 262/270, 304/322, 330/370, and 388/417 of the Series 1957
revenue refunding bonds.
(c) Bonds Nos. 43/147 of the Harris County !'?ater Control
and Improvenent District No. 7 Vaterworks and Sewer System Revenue
Bonds, Series 1945, dated [.larch 1, 1945, shall be exchanged for Bonds
"T'
Nos. 83/80, 233/261, 271/303, 323/329, 422/439, and 455/465 of the
• revenue refunding bonds.
(d) Bonds Nos. 21/60 of the Harris County Dater Control
and Improvement District No. 7 Waterworks and Sewer System Revenue
Bonds, Series 1945!1, dated September 1, 1945, shall be exchanged
for Bonds Nos. 128/159 and 173/180 of the Series 1957 revenue refund-
ing bonds.
(e) Bonds Nos. 31/90 of the Harris County t?ater Control
and Improvement District No. 7 Vaterivorks and Sever System Revenue
bonds, Series 1946, dated December 1, 1946, shall be exchanged for
Bonds Nos. 101/199, 221/232, 371/387, 418/421, and 440/447 of the
• Series 1957 bonds.
Section 0: That in exchanging and canceling the underly-
ing bonds the Comptroller of Public Accounts is requested and
directed to follow the following schedule:
(a) Goose Creek Bonds Nos. Series 1957 Bonds Nos.
90
1
91
2
92
3
93
4
94
5
95
6
96
7
97
0
• 98
gg
IS
16
100
17
101
18
102
19
103
20
104
21
105
22
106
23
107
30
108
31
109
32
110
33
111
41
112
92
113
43
.114
44
115
45
116
52
117
53
•
ME
• 0
Goose Creek Bond Nos. Series 1957 'onds Nos.
n
LJ
118
34,
119
55
120
56
121
57
122
58
123
59
124
60
125
67
126
68
127
69
128
70
129
71
130
7"
131
73
132
7':
133
75
134
89
135
90
136
91
137
92
138
93
139
94
140
95
141
96
142
97
143
10-
144
105
145
106
146
107
147
108
148
109
149
110
150
111
207
208
1 �'
209
1]
210
211
13
212
14
213 a
• 214
24
25
215
26
216
27
217
28
216
29
219
46
220
47
221
48
222
49
223
50
224
31
225
61
226
62
227
63
228
64
229
65
230
66
231
440
E
Goose Creek Bonds Nos. Series 1957 Bonds Nos.
® 232 .450
233 951
234 452
235 453
236 454
237 98
238 99
239 100
240 101
241 102
242 103
243 112
244 113
245 114
246 115
247 116
248 117
249 118
250 127
S(b) Pelle Bonds. The outstanding Pelly bonds will be ex-
changed as a block at one time for the Series 1957 revenue refund-
ing bonds, to -wit: Bonds Nos. 50/150, and 182/235 of the Pelly bonds
will be exchanged for Bonds Nos. 3,1/40, 76/82, 119/126, 160/172,
200/220, 262/270, 304/322, 330/370, and 388/417 of the Series 1957
revenue refunding bonds.
(c) Dist. No. 7, dtd.
3-1-45, Bonds Nos.
Series 1957 Bonds Nos.
43
233
44
234
45
235
46
236
47
237
48
238
49
239
50
240
51
241
52
242
53
2`3
' 54
244
55
245
56
246
57
247
58
248
S9
249
60
250
61
251
62
252
63
253
64
254
65
255
r]
"10"
Dist. No. 7, dtd.
3-1-45,•Bonds Nos. Series 1957 Gongs ;dos.
66
25c;
67
25'r
68
25t
69
259
70
260
71
261
72'
271
73
M
74
273
75
274
76
275
77
276
7d
277
79
278
80
279
81
280
02
281
83
282
64
283
65
284
®
86
285
87
286
88
287
89
288
289
:
290
n-
291
q -t
292
94
293
q ;
422
96
-1123
97
2"
98
425
99
426
'100
427
101
•128
102
`29
103
430
104
.131
105
432
106
'148
•
107
83
too
8'1
109
05
110
86
111
87
112
68
113
455
114
456
115
457
116
458
117
459
118
460
119
294
120
461
121
462
122
963
123
464
40
191211
!1211
Dist. No. 7, dtd.
3-1-45 Bonds Nos.
Series
1957 Bonds Nos.
124
465
433
125
126
434
127
295
128
296
129
297
130
290
131
299
132
300
133
301
134
302
135
303
136
323
137
324
138
325
139
326
140
327
141
328
142
329
143
435
144
436
145
437
146
438
147
439
(d) Dist. No. 7, dtd.
Series
1957 Hands Nos.
9-1-45 bonds Nos.
21
128
22
129
23
130
24
131
25
132
26
133
27
134
28
135
29
136
30
137
31
138
32
139
33
140
34
141
35
142
36
143
37
144
38
145
39
146
40
147
41
148
42
149
43
150
44
151
45
152
46
1 14 53
47
154
48
155
49
156
40
191211
!1211
•.
1113"
0
Series 1957 Bonds Nos..
157
158
159
173
174
175
176
177
:70
179
180
Series 1957 Bonds Nos.
181
182
183 .
184
185
186
187
188
189
190
191
192
193
194
195
196
197
198
199
221
222
2123
224
225
226
227
228
229
230
231
232
377
378
379
380
381
362
363
384
X85
386
387
Dist. No. 7, dtd.
9-1-45 Bonds Nos.
•
50
51
52
53
54
55
56
57
58
59
60
Dist. No. 7, dtd.
(e) 12-i-46 Boncs Nos.
31
32
33
34
35
36
37
36
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
•
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72 '
1113"
0
Series 1957 Bonds Nos..
157
158
159
173
174
175
176
177
:70
179
180
Series 1957 Bonds Nos.
181
182
183 .
184
185
186
187
188
189
190
191
192
193
194
195
196
197
198
199
221
222
2123
224
225
226
227
228
229
230
231
232
377
378
379
380
381
362
363
384
X85
386
387
Dist. No. 7, dtd.
Series 1957 Bonds Nos.
12-1-46_, Bonds Nos.
73
371
74
372
75
373
76
374
77
375
7 F3
376
79
418
80
419
81
420
82
421
83
440
84
441
85
442
86
443
87
499
88
445
89
446
90
447
® Section 9: That this ordinance shall take effect and be
in full force from and after its adoption.
PASSED AND APPROVED, this the 23rd day of Nay, 1957.
c
vi- Y .
►.lay r, City of Baytown, Texas
ATT CST :
City Clerk, City of Baytown, Texas
(S EAI.)
0
-14-
EXHIBIT A
First National Bank
Baytown, Texas
•
CITY OF BAYTOVN , TEXAS
Office of the iaayor
Date
Re: City of Goose Creek 11aterworks and
Sewer System Revenue Bonds, dated
August 1 1945
Gentlemen:
Bonds Nos. 82/89 and 201/206 of the captioned bonds mature
August 1, 1957, and Bonds Nos. 90/150 and 207/250 have been called
for redemption on said date.
The City of Baytown has caused to be deposited with you
the sum of $15,636.25, which shall be used solely as follows:
To pay principal of Bonds Nos. 82/69
and 201/206 on August 1, 1957 $ 14,000.00
To pay interest on Bonds Nos. 82/150 1.636.25
and 201/250 on August 1, 1957
$ 15,636.25
Moroney, Beissner & Co., Houston, Texas, has made firm and
adequate banking arrangements with you to pay the principal of Bonds
Nos. 90/150 and 207/250, aggregating $105,000.00, on August 1, 1957.
The City has also deposited with you a sum in payment of
your charges as paying agent of the payments described.
The moneys mentioned above constitute special trust funds,
and are to be used solely and only for the stated purposes, and for
no other purpose.
Very truly yours,
CITY OF BAYTO'. . TEXAS
By:
Mayor
-15-
EXHIBIT B
Is
CITY OF BAYTOWN, TEXAS
Office of the Mayor
Date
The First City National Bank of Houston
Houston 2, Texas
Re: Harris County hater Control and Improve-
ment District No. 7 I'laterworks and Server
System Revenue Bonds, Series 1945, dated
Marchi 1945.
Gentlemen:
• Bonds Nos. 43/147 of the captioned bonds have been called
for redemption on September 1, 1957.
The City of Baytown has caused to be deposited with you
the sum of $2,225.00, which shall be used solely as follows:
To pay interest on Bonds Nos. 43/147
on September 1, 1957 $ 1,575.00
To pay 1% premium on Bonds Nos. 650.00
83/147
$ 2,225.00
noroney, Beissner & Co., Houston, Texas, has made firm
and adequate arrangements with you to pay the principal of Bonds Nos.
43/147, aggregating $105,000.00, on September 1, 1957.
The City has also deposited with you a sum in payment of
your charges as paying agent of the payments described.
iThe moneys mentioned above constitute special trust funds,
and are to be used solely and only for the stated purposes, and for
no other purpose.
Very truly yours,
•
-16-
CITY OF BAYTOWN, TEXAS
By:
i,Iayor
r -IL
EXHIBIT C
CITY OF BAYTOVN, TEXAS
•
Office of the 1.1ayor
The First City National Bank of Houston
Houston 2, Texas
Gentlemen:
•
Date
Re: Harris County Nater Control and Improve-
ment District No. 7 11aterivorks and Sewer
System Revenue Bonds, Series 1945A, dated
September 1 1945.
Bonds Nos. 19/20 of the captioned bonds mature September
1, 1957, and Bonds Nos. 21/60 have been called for redemption on said
date.
• The City of Baytown has caused to be deposited with you
the sum of $2,970.00, which shall be used solely as follows:
To pay principal of Bonds Nos. 19/20
on September 1, 1957 $ 2,000.00
To pay interest on Bonds Nos. 19/60
on September 1, 1957 570.00
To pay to premium on Bonds Nos. 21/60 400.00
$ 2,970.00
Moroney, Beissner & Co., Houston, Texas, has made firm and
adequate banking arrangements with you to pay the principal of Bonds
Nos. 21/60, aggregating $40,000.00, on September 1, 1957,
The City has also deposited with you a sum in payment of
your charges as paying agent of the payments described.
• The moneys mentioned above constitute special trust funds,
and are to be used solely and only for tK� stated purposes, and for
no other purpose.
Very truly yours,
CITY OF BAYTOIN , TEXAS
n
LJ
By:
llayor
-17-
EXHIBIT D
• CITY OF 6AYTO111, TEXAS
Ej
Office of the ilayor
Date
The First City National Bank of Houston
Houston 2, Texas
Re: Harris County Eater Control and Improve-
ment District No. 7 Waterworks and Sewer
System Revenue Bonds, Series 1946, dated
December 1 1946
Gentlemen:
Bonds [los. 28/90 of the captioned bonds have been called
for redemption on June 1, 1957.
The City of Baytown has caused to be deposited with you
the sum of $5,253.75, which shall be used solely as follows:
To pay principal of Bonds Nos. 28/30
on June 1, 1957 $ 3,000.00
To pay interest on Bonds Nos. 28/90
on June 1, 1957 1,053.75
To pay 2% premium on Eonds Nos. 31/90 , 1.200.00
$ 5,253.75
Noroney, Beissner & Co., Houston, Texas, has made firm and
adequate banking arrangements with you to pay the principal of Bonds
Nos. 31/90, aggregating $60,000.00, on June 1, 1957.
The City has also deposited with you a sum in payment of
your charges as paying agent of the payments described.
The moneys mentioned above constitute special trust funds,
and are to be used solely and only for the stated purposes, and for
no other purpose.
Very truly yours,
CITY OF BAYT01%, TCCAS
By:
M
Mayo r
THC STATE OF TEXAS X
COUNTY OF HARRIS i
I, the undersigned, City Clerk of the City of Baytown,
Texas, do hereby certify that the attached and foregoing is a true
and correct copy of an ordinance adopted by the City Council of said
City at a meeting held on the 23rd day of Hay, 1957 (including
EXHIBITS A, B, C. and D ), including an excerpt from the minutes of
said meeting showing the adoption thereof, as same appears of record
in the official minutes of said City Council on file in my office.
111TNESS i.JY HAND AND THE OFFICIAL SD1L OF SAID CITY, this
the 23rd day of May, 1957.
(SEAL)
016
DID
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City Clerk, City of Baytown, Texas