The URL can be used to link to this page

Home My WebLink AboutRes 1949-02 ~~.~: l}' .~ .~ ., , . .. 1\ \; RESQI.tJT:t9N / f- ~ WHEBEAS, the City of West 'l1niversityl"laee, at, tfte 't:i'me otawa.;(ilag ,the eentract for the cen.strue1i:tel1 of. the SWf.mud;ng ]>001, 'builCil~gs, allla a]>purtenalllces ~lIl.conaect.1on tb:ezoew1th, all of ,wh~eh were. to be paid r.Ol" out Gf -the Re,ereat1enal and P~k Fund, it b&eame neeesaa'ryto borro:w the SURl. Gf.6,436'.8~ r:t-om the Gellleral Furid of the City of West Wu1ver;:li.ty Place; an€l,'Whereas~ ~er the authority of the e1ty CO.,1,S-S:1011 of the Q1ty of W.est' 't1n1vel's1ty place, . . bya-ReSGhtt~o~ atily pa.s'seaon. -t11e 2~th <i~l'~f Apt"ll, 1~48, the aD at $6,436.39 was bQ;t>rowedfI'Omtlile~eral FUl'ld af ~: ;: the. City .. ~r ,wes-tlflii1vers'1ty . Place, auci. alloea:~ to the . ,,,,.: Reerea:f.;1eJlal."am:!ark FUlld; alld, '. -, .~ ,.- "-" ~; ~ : . "" . -' .~~:, t1ae C1~y Commiss1all of th~ City of West . . . .' - . . tJm.1.v:el"~:f)i--i~~~ oil'Apr1i 29, 1948, by ]>l"op,er Resolu:tian ., ."-'i'"~.' '. . . . .fi~y paBsed .ttl."oy,:tlled- ~Ql" tke b0rrowillg ot $13, Goe. eo fro~ / . r. - tlae Genezial ~(l.of tb.e City of W~st t1D1versity Place, fer ttse ot _lIii.raUGe:at1:e1t' to the Public Park FWil(i, with tbe . . widerst_d1~ ,ttiatatter the sale Qf a l11te-amouJllt or &w1tlln~ng . ]>()0i :1.'"lt'tema:e \N'__~, tJae Me~DtQr .$-13,008. $0 WQ).1~ lie ~~=;==n r .-, I I I, I III Il~---- - ------r-------- -----------.,-.14l1TT'.---,.-~. 1 . /--..,. returaea to the fJeael'a.l Fllatt 01' the <i:Uy 01' Wes.t lJalversity Plaee ,from thepr&eeeas of the sale of sueh reveJilue bonas, and furtherprovld$a~th~t re7Paymeat sh.uld be made net later than May 1.,1~4th alild, WBUAS, €lathe2!9tla. day of April, 1!94$, by proper 0rtd~Jilalieia,'" llelnl?;6r'd,lnaaeeNo. 372:, aD.d providiag in 1 t 8 caption as ,follo.s: hAJl 0Dnllme' ,AlJ'fH0RIZDfJ ~ '.eI'fi '1'0 meHME $~,~,cp~0.~~:' ~W~lff,~~0Ji"J~e_" ~lJ'f,,0~,~~ APPB0f,J .J)!a.!~,,~~~.; ~i~~Y m 'fAX ,"v. ..I!lJ~~!ft,'A~~,,~ f3.~WEllP- ~i~~~"., . ",J,~;P~0'V~JlfJ..$'f ~X$ ,~IJ!lAJleE #_~~;,,~'.:I!Jr~~~JY;E';1:_IA~~Y,lfr0J!l:PA3'A~E. u; .,. th~ <i:ity. - cemmlssi~m.' ~ruila.e(hty of West University Place provid~dtor ti1a.e ~ure1a.ase of $40,000.00 of swimming poo&l beads out of t1a.e ullappreprla1;ed simkltag.fullds as herelJil- beforeaescribed 1llt1a.e eaptioll of 0x'al~l!I.ee lie. 372; an.d, WIlEItEAS, oJl.Aprll 2!9, 1!94i" tb.eelty <i:emmisslon 01' taee1ty afVestU'1ll1versity Plaee by llClltloJl duly paneli allldsecGJllied provtded . that tla.e SWlI of $(i,.,63.U MrrCi)Wea frem tke lIeerEEtiem.a.l FUJild in 1!946 ,be r.movedfrom t1a.e General .Funa aJaa t:l;'C/.Dsferrea to tla.e Recreational an.d PaJ:'k , Fun.a; an.d, WB~AS, oll,the 29th day of April, 1~4i, time City C€llDlBdsSioR,O:f tb.e Uty ofwestlnUversity :place providea that r.n.da 'lte aP!')1'eprlateQ"from the Park lilMReereatieaal FulLd fer,u,s~, :till. ee1lm~h'l't1olL w1tn tne, contraetslll.ecessa.ry . for the eempletiem,'eftJile eOJ;1~uctj,.fi)n (1)1' the swimming poel aRd nathmouse ana a~p.rteJlanees or imprevem,nts to t1a.e grea1lU1.s iqd, WHERE:aS, eR":&he~!9th day of,$.prll, 194$, tne sa:1~ e.. E. GaU1ll, ~:Uy'freaallrer of t1a.e (':1ty efWl!!st 1'Jm.1f~",1ty Place, s-anm1ttedte the City eemmissi01l af tb.e City of West - 2 '- "-"'.__.'--"--"[-"~.~~--~~.I, i, II ilil",,'111111I1 -'_.~--!Ti'11'iIfITTl1ii1'"~--_. . ~, ;' " liJld.;.~r$~ty flaee Tpeasur>er I s Certificate Ne.. 5 of' a,v.a11aD!l~t,.. et'rUlilGl.S ilil the amouat et' ,4',436.8, f'or tlfie e~.~t~eti()n. ar.:4 eomplet1olil of a svli_iag, '001.. bath Qeuse ,aRQ; a'Pll1~.~ee s or improvements to the gpol1mds; amG.. WIE~.S, URGer the pureaase of' $40,000.00 of' s~imming ,o01be"4f(ii ~ds 1m t:he tax revem~e sinkiag t'I\UlG aM , t-,e wat~:r; and, sewerre,laeelllemtt'umiis, tb..Ei!re became available ia the~eereat"~a~_~a~ Park FUJaQl:1 a suf'1'!eeat SlllBl 01' meney to retli1ratetlleE,leaaral"had"et' tlIe .eity ef \festWaivers1ty Place the S~0t '~3~000.~0 authepize4 to be borrowed trom the fe1l1eraJ, FU1l1d .rtlle CitY0f iJeS\'biversity Place by ~ .. . --.,-~';>: . the City eOmBuSsioR 01' theeity 0f' We.~'t Waiversity Place 0111 :>>eeembGlr 16, ..1~4r; and! ~ WllEREAS, li1ader the ali1tb.erity aad rell'liirm.e1l1t Elf t;lae eity e.iss1ea at tae ej,ty of' West Wn1versitW'Plue, i~ is aeW aecessary to re~urll to tile..eme1i'~l FlllllQ el the eity of' West llRiver$1ty Place out of' thelleerea.ttell(ll aa~ Papk ~~iis the sWlr ef*':436~~' et' the tetd1'llJiliis 00rrowe(d from --:. .- . . - '~-- "'-'-- . -,' ". . the ",eaeral Fmalief' tlae ei ty of' West Waiversi tyPla.ee.. .wQiea :f'um.lJij 1m tlae'~'amou.t0t' $~..436.SS'l'-1\ave.0eell eom,pehem.liea ill the blidgeto1' till.eelty ~f' WestlJDlvexosltyPla.et$p :thle yearal,4~-4S'l~ aad.'ileDCe tbe 1I1e'oe88;\.ty t.0r"thle l'r0.f)tl"et~m ef' Slllcla- m(j)1leys to . tl1e Clem.eral FunG ef' .t1\Ei! City of. West' Wnv~P81tyP1aee. BE !T,PSOI.11iDDY the CUytJemmis$iem of' the loUt l' of West 'UQlversfty p~aee tlaat tlae Traas.reret tlae e1ty of' West tfa!,versityPlaee is1ast1'U:ctedaJilQempowered., ul'om. tlile ,assag,ot t.il1.s lleliio11dtio1l, to ,refilptly w1thliraw f'1"Om - 3- r Ili:11I -,-, 'I ; 1!:::1 J lit.. ' ~ -,. --~C~i1r!li1ffifffTIr:'~- . _J.---_ the RecreatL.enal aaa Parle li~\1...Elsthe StUll of $6,43~.~9.1 and to promptlytraasfer and place 1n the 6eneral F\1Rd of the City of West lJD.1Verslty Plaee s\1eh StUlIef,$',436.89 te beeeme and lae a part feD!' ~llpurposes and uses of the 6eReral F\1Rd of taeJn~y of West lJD.lverslty Place. tkt. /rJ~ay~................. .. (J." AYES aad .'.. If0E . PASSED AD :APPROVED 194[' "~ ., ~- by a vote ef AT'l'ES'f: .c;+t;r ~eeretary r:::==.__--=__--:.~_____~==rIIr L.._:""__: :__:::__:_.__:::...._::::::..:::r~_'__~~_~: - ----""::'=----.--.-.~--.-c--,-'TI~::~I'::c:::='~~fC~'--.~ llt"..i:-.l- j~ Honorable Mayor and City Commission Cit~ of West University Place, Texas Gentlemen: We .understand that the City of West University Place has outstanding and subject to call $58,000.00 CITY OF 'WEST UNIVERSITY .PLACE, TEXAS, Sewer Revenue 4 1/2% Bonds dated JanuCl;ry 1, 1938, due serially on January 1 in each of the years 1950 through 1958 and redeemable at par value on January 1, 1948 or on any interest payment date thereafter, being all the remaining bonds outstanding of an original issue in the principal sum of $100,000.00. We understand that it is your desire to call the above outstanding bonds at par plus the accrued interest to July 1, 1949 and to issue in lieu thereof Sewer .System Revenue Refunding Bonds. In, connec- tion therewith, we wish to subBit, you the following proposal: We agree to purchase and you, by your acceptance below, agree to sell to us $58,000 Sewer System Revenue Refunding.Bonds, dated on or about April 15, 1949, at par and accrued int.erest from their date to the date of deli ve7Y to us. The bonds shall be callable at any time on or after January 1, 1951 at a premium of 2%. Interest en the bonds shall be payable semi-annually. The above described bonds shall have maturities and. rates of interest as folloWs: $5,000 due April 15, 1950 @ 2 311+% 6,000 due April 15, 1951 @ 2 3/4% 6,000 due April 15, 1952 @ 3 1/4% 6,000 due April 15, 1953 @ 3 1/4% 7,000 due April 15, 1954 @ 3 1/4% 7,000 due April 15, 1955 @ 3 1/4% 7,000 due April 15, 1956 @ 3 1/4% 7,000 due April 15, 1957 @ 3 1/4% 7,000 due April 15, 1958 t 3 1/4% The City agrees that it will promptly pass such ordiIlances or resolutions and take such other steps that shall be necessar,y to call for redemption the above described Sewer Revenue Bonds. The City agrees simultaneously, with the issuance of the call, to provide the funds with which to pay interest on .t.he callable bonds to the call date. We agree to provide funds sufficient to take up the principal amount 0f all the above outst.anding bonds at the Office of the paying agent for this issue, the Guaranty Trust Co., New York, ~. Y., or at the City National Bank, Houston, Texas, if acceptable to the present holders ,. and to surrender and exchange said outstanding bonds'" fer Sewer Revenue Refunding Bonds. ~ e. Our 'J{chase. agreement is subject to the Refunding Bonds being delivered .. .. (') US within F ~ from. the date. of this agreement. our obligation to accept '()W.the Refuding Bonds shall be subject to the unqualified approving opinion as to ~L-- --=-~. c -~~_~i.~ ~mr:r:::::rrr ,-.,. legality of said bonds by the Attorney General of the state of Texas and market atterneys,selected by us. Attached hereto is a cashier's Check in the sum of $1,160.00, such check . . to be held UIlcashed by y<>u as evidence of our good faith to earrY out the terms of this agreement. If we .fail or refuse to comply with the terms of ~s agreement, you shall thereupon cash said eheck and retain the proceeds thereof as full and complete liquidated damages; otherwise, the check shall be returned to us. Respeetfully su1:mitted, MORONEY, BEISSNER & CO. J~ C. TUCKER & CO., INC. By A EXECUTED at West Uni1lersity Place, Texas, this II- r:!:day of February, 1949. ~~ . M or . ATTEST: ---/J~ ., / /1T~. ~/ .. t Seare 8.17 SEAt Approved as too Form: /]~ <1.- f?...L - o'tI.tCitY Att:;'~r