HomeMy WebLinkAbout1955-10-12 Tax Bond Sewer Improvement65
Stephenville, Texas
October 12, 1955.
The City Council met in called session on the above date
with Mayor Clark presiding and the following aldermen present:
J. P. Hedrick, J. W. Clements, Herman Ferguson, John Hancock,
Chas. Riggins, Jim Farr and Dean Murray.
Also present was City Attorney Chandler.
Messrs. Taylor Almon and I. J. Thornton, representatives
of Rauscher, Pierce & Co. Inc., of Dallas, appeared before the
Council and explained several schedules whereby the City might
vote ?$1502000.00 tax bonds for sewer improvement. After some
discussion, it was moved by Alderman Hedrick, seconded by Alder-
man Ferguson, that the Council authorize the Mayor to execute
an agreement with Rauscher, Pierce & Co. Inc., same to be
attested by the City Secretary (said agreement and schedule
being attached to and becoming a part of these minutes). Motion
carried. Alderman Farr requested to be counted as not voting.
Mayor Clark notified the Council there would be another
called meeting on Tuesday, October 16, 1955, at 7:30 P. M.
There being no other business, the Council stood adjourned
subject to the Mayor's call.
ATTEST: M r.
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i y 6ecretary.
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Rauscher, Pierce & Co., Inc.
MERCANTILE BANK BUILDING
DALLAS 1, TEXAS
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To the Honorable " 1,%/0'4 4'vo ` /n ti47/4"
.... .. ... ............ .....
.... ........................ ..._.._......
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Gentlemen:
For the legally issued ---------------------- �F. / �y
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of your---`-------------------"------._-_.-'---'---_......_...;r.. m the par value of $.......
�-- J�in denomination of
dated......l....�!�..'. w/............................................... .
and to mature: �N ,� GG/y ,PO ,�VL.C�." AI -/
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be
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To bear interest per annum at the4eKow&Wrates: ��`� '¢Bends-io
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aturing 19............ to 19............. inclusive, at..
Bonds maturm __`-.., inclusive, at---------------------------------------%
Hood aturing 19-......--.. m 19--...... #acfnsiverat...._- �__.........%
first interest coo payable........._._...A..L�.%:.�......_.�i..Ba'-'--...-....f..... 19 99+/and semi-annually thereafter
..........
��> ✓ ..."------, principal anti on.-----`----------- ------- y----..717 --------'------.....................__ ana-------....---------........------........-----. �------------------------- ..-
interest to be pa,
WE WILL PAY
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This offer is for immediate acceptance only, and is made subject to the unqualified approval of their legality by the
Attorney General of the State of Texas, and by some recognized Bond Attorney to be designated by us, and whose fee
..-......._- -------------will pay. You agree to furnish us full and complete transcript of all proceedings incident to the issuance of
said bonds. Printed bonds are to be furnished by --------------- A-S
Del'very of the bonds is to be made L,d!y__._____/Y iS+T/J.__..._ _ ���� ri"f7/''
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You agree to pay us $.... .... to rover expenses incurred by us.
This agreement shall be binding upon us for a period of .... —........... D.........---- days from its date, and in the event you are unable to
.deliver such bonds to us within the prescribed period in conformity with the provisions hereof, then and in ghat event,
we shall no longer be bound by the terms hereof, but shall have an irrevocable option upon such bonds for the.._.... _.Q......---__.
days next succeeding the expiration of our commitment under the same terms and conditions herein recited ��d� g�gGT/any
S4/°�� y¢' 11vA ej f�r�.0 ,<JDri jcr a� 0 19/a
As evidence of our good faith, we ,check in the amount of $...... ol..,....`._v... �..... . ...............to be held by you un-
cashed, and returned to us when we have carried out the terms of our agreement, or should we fail or refuse to take up
said bonds, to be forfeited by us as full and complete liquidating damages and in full and final settlement of any and all claims
against us arising through breach of our agreement.
Respectfully submitted,
RAUSCHER, PIERCE & CO., Inc.
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fi,U%J /JE ��vBK off" /�o vps �XCC�T iFcs o� �GE�T/any e�Cj<iats
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We, the duly authorized officials of--- l&�_ C/
...........
the above proposal, and seR Jo the above nam
before set forth, this ...
Ak-----.. .......day of ..............
By.................................--------...............----.......---
Autborized Representative
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........................................................_............
parties, the above described bonds on the terms
hereby accept
'.tions herein.
' - . - --- .....__....................-
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CITY
OF STEPHENVILLE, TEXAS
PROPOSED
$150,000
SEWER TAX BONDS
I� 1 4
Present
Total
Tax Rate
Annual
3% & 3-1/4%
Combined
For Debt
Year
Requirements
Principal
Interest
Requirements
Service
1956
$18,198.00
$
$ 4,650.00
$ 22,848.00
$ .52
1957
16,100.00
4,650.00
20,750.00
.47
1958
16,637.50
4,650.00
21,287.50
.48
1959
16,162.50
4,650.00
20,812.50
.47
196o
161737.50
4,650.00
21,387.50
.48
1961
16,362.50
4,650.00
21,012.50
.48
1962
15,987.50
4,650.00
20,637.50
4
1963
16,600.00
4,650.00
21,250.00
.48
1964
16,200.00
4,650.00
20,850.00
.47
1965
15,000
4,650.00
19,650.00
.45
1966
15,000
4,500.00
19,200.00
.45
1967
15,000
3,750.00
18,750.00
.44
1968
15,000
3)300.00
18,300.00
.44
1969
15,000
2,850.00
17,850.00
.43
1970
15,000
21400.00
17,400.00
.43
1971
20,000
1,950.00
21,950.00
.50
1972
20,000
1,300.00
21,300.00
.48
1973
20,000
650.00
20,650.00
.47
1954 Assessed Valuation ...............$4,744,790.00
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