Ordinance No. 2,92300710 -1a
ORDINANCE NO. 2923
ORDINANCE AUTHORIZING SALE OF CERTAIN
CITY OF BAYTOWN, TEXAS, WATERWORKS AND SANITARY SEWER
SYSTEM CERTIFICATES OF OBLIGATION, SERIES 1980; AND
CONTAINING OTHER PROVISIONS RELATING TO THE SUBJECT
THE STATE OF TEXAS §
COUNTIES OF HARRIS AND CHAMBERS
CITY OF BAYTOWN �
WHEREAS, on May 8, 1980, the City Council of the CITY OF
BAYTOWN, TEXAS (the "City "), adopted an ordinance authorizing
issuance of City of Baytown, Texas, Waterworks and Sanitary
Sewer System Certificates of Obligation, Series 1980, and au- _
thorized sale of Certificates Jos. 201 to 220, both inclusive;
and
WHEREAS, the City Council now deems it advisable to au-
thorize sale of Certificates Nos 1 to 200, both inclusive;
therefore
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN:
Section 1. The facts and recitations contained in the
preamble of this ordinance are hereby found and declared to
be true and correct.
Section 2. Certificates Nos. 1 to 200, both inclusive,
of the City of Baytown, Texas, [waterworks and Sanitary Sewer
System Certificates of Obligation, Series 1980, dated June 1,
1980, shall bear interest per annum at the following rates,
respectively, to -wit:
Certificates
maturing
1982
through
1983,
6.60%
Certificates
maturing
1983
through
1984,
6.60%
Certificates
maturing
1984
through
1985,
6.60%
Certificates
maturing
1985
through
1986,
6.10%
Certificates
maturing
1986
through
1987,
5.60%
Certificates
maturing
1987
through
1988,
5.75%
Certificates
maturing
1988
through
1989,
5.90%
Certificates
maturing
1989
through
1990,
6.00%
Certificates
maturing
1990
through
1991,
6.10%
Certificates
maturing
1991
through
1992,
6.25%
00710 -1b
evidenced by interest coupons which shall appertain to the
Certificates and which shall be payable on the dates indicated
in the FORM OF CERTIFICATE set forth in the ordinance dated
May 8, 1980.
Section 3. Immediately following delivery of such Cer-
tificates to the purchaser thereof the accrued interest shall
be deposited in the Interest and Sinking Fund.
Section 4. Certificates Nos. 1 to 200, both inclusive,
are hereby sold and shall be delivered to Underwood, Neuhaus &
Co., Inc. and Rotan Mosle, Inc. for the par value
thereof and accrued interest thereon to date of delivery, plus
a premium of $
-0- , subject to the unqualified approving
opinions, as to the legality of the Certificates, of the Attorney
General of the State of Texas and of Vinson & Elkins, Houston,
Texas, market attorneys; and it is hereby officially found,
determined, and declared that the Certificates are sold on the
best terms and for the best price possible.
Section 5. The Mayor and all other appropriate officers
of the City are hereby authorized and directed to do any and
all things necessary or convenient to carry out the provisions
of this ordinance.
Section 6. This ordinance shall take effect immediately
upon its passage.
Section 7. It is hereby officially found and determined
that the need of the City for such financing creates an emer-
gency and an urgent public necessity for the holding, at the
scheduled time, of the meeting of the City Council at which
this ordinance is adopted and for the adoption of this ordi-
nance; and the NOTICE OF MEETING relating to said meeting and
heretofore posted by the City Clerk, and the posting thereof,
is hereby authorized, approved, adopted and ratified.
-2-
PASSED AND APPROVED this 10th day of July, 1980.
ATTEST: t%
ayor
CITY OF BAYTOWN, TEXAS
l
City Clerk
CITY OF BAYTOWN, TEXAS
(SEAL)
N
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00710 -1c