Loading...
HomeMy WebLinkAboutORD 43-DDU' 1 �A , l/-S lJ (J rol, �- AN ORDINANCE AUTHORIZING THE ISSUANCE OF $675,000 CITY -OF BEAUMONT, TEXAS, WATERWORKS SYSTEM REVENUE BONDS; PRESCRIBING THE TERMS AND CONDITIONS THEREOF; MAKING PROVISION FOR THE PAYMENT OF THE PRINCIPAL THEREOF AND INTEREST THEREON; AWARDING THE SALE THEREOF; PROVIDING THAT THIS ORDINANCE SHALL TAKE EFFECT FROM AND AFTER ITS PASSAGE; AND CONTAINING OTHER PROVISIONS RELATING TO THE SUBJECT THE STATE OF TEXAS § COUNTY OF JEFFERSON § The City Council of the City of Beaumont, Texas, convened in regular session at the City Hall within said City on the 14th.day of February, 1961, with the following members present, to -wit: C . H. LeBlanc Jack M. Moore W. W. Leach Earl L. Patton Rolfe Christopher Jas. T. Garrard Mayor Councilman, Ward 1 Councilman, Ward 2 Councilman, Ward 3 Councilman, Ward 4 City Clerk and the following member(s) absent, to -wit: 146d�al� , when the following, among other business, was transacted: The Mayor introduced an ordinance which was read in.full. Councilman made a motion that the ordinance be adopted as read. Councilmanseconded the v � motion for adoption of the ordinance. The motion, carrying with it the adoption of the ordinance, prevailed by the following vote: AYES: Councilmen Moore, Leach, Patton, Christopher, and Mayor LeBlanc. NOES: None. The Mayor thereupon announced that the ordinance had been duly and lawfully adopted. The ordinance thus adopted follows: �k3 U AN ORDINANCE AUTHORIZING THE ISSUANCE OF $675,000 CITY -OF BEAUMONT, TEXAS, WATERWORKS SYSTEM REVENUE BONDS; PRESCRIBING THE TERMS AND CONDITIONS THEREOF; MAKING PROVISION FOR THE PAYMENT OF THE PRINCIPAL THEREOF AND INTEREST THEREON; AWARDING THE SALE THEREOF; PROVIDING THAT THIS ORDINANCE SHALL TAKE EFFECT FROM AND AFTER ITS PASSAGE; AND CONTAINING OTHER PROVISIONS RELATING TO THE SUBJECT WHEREAS, the outstanding bonds of the following described revenue bond issues of the City of Beaumont, Texas, constitute the only indebtedness chargeable against or payable from the net revenues of the waterworks system of said City, to -wit: and CITY OF BEAUMONT WATERWORKS SYSTEM REVENUE BONDS, SERIES 1956, dated September 1, 1956, numbered consecutively from 1 to 2800, both inclusive, in the denomination of $1,000 each, aggregating $2,800,000 (approved by the Attorney General of the State of Texas on the 28th day of November, 1956, and registered by the Comptroller of Public Accounts of the State of Texas under Register No. 31453).9 CITY OF BEAUMONT WATERWORKS SYSTEM REVENUE BONDS, SERIES 1958, dated March 1, 1958, numbered con- secutively from 1 to 2000, both inclusive, in the denomination of $1,000 each, aggregating $2,000,000 (approved by the Attorney General of the State of Texas on the 12th day of March, 1958, and registered by the Comptroller of Public Accounts of the State of Texas under Register No. 32280), and CITY OF BEAUMONT WATERWORKS SYSTEM REVENUE REFUNDING BONDS, SERIES 1959, dated March 1, 1959, numbered consecutively from 1 to 2000, both in- clusive, in the denomination of $1,000 each, ag- gregating $2,000,000 (approved by the Attorney General of the State of Texas on the 21st day of May, 1959, and registered by the Comptroller of Public Accounts of the State of Texas under Register No. 33062); WHEREAS, it is provided in the proceedings authorizing the issuance of said bonds, and in the bonds, that the City expressly reserves the right to issue the remaining bonds authorized at the -2- - i i election held within said City on the 29th day of August, 1956, and additional bonds on a parity with said bonds; and WHEREAS, the City Council has determined, and hereby deter- mines, that the remaining $675,000 bonds authorized at said election should now be issued, said $675,000 remaining voted bonds to be in all respects on a parity with the outstanding Series 1956, Series 1958, and Series 1959 revenue bonds described above; and WHEREAS, the City Council wishes to proceed with the issu- ance of said $675,000 remaining voted bonds; Therefore BE IT ORDAINED BY THE CITY OF BEAUMONT: Section I: NAME, AMOUNT, PURPOSE, AND AUTHORIZATION: That the bonds of the City of Beaumont, Texas, be issued in the principal sum of $675,000, to be known and designated as "CITY OF BEAUMONT WATERWORKS SYSTEM REVENUE BONDS, SERIES 1961", for the purpose of improving and ex- tending the City's existing waterworks system, under and in strict conformity with the Constitution and -.laws of the State of Texas, particularly Articles 1111 to 1118,-both inclusive, Vernon's Texas Civil Statutes, as amended, and as authorized at a bond election held within said City on the 29th day of August, 1956 (said bonds constituting a portion and the final installment out of a total of $6,675,000 bonds authorized at said election, $6,000,000 out of said total authorized bonds having heretofore been issued). Section II: DATE, NUMBERS, DENOMINATION, AMOUNT, AND MATURITY: That said bonds shall be dated March 1, 1961, shall be numbered consecutively from 1 to 675, both inclusive, shall be in the denomination of $1,000 each, aggregating $675,000, and shall become due and payable seri- ally on the 1st day of September in each of the years and in the -3- Ch t �r respective amounts shown in the following schedule,. to -wit: 67_1 Bond Numbers Maturity. Amount (both Incl.) 1 - 25 1963 $ 25,000 26 - 30 1964 5,000 31 - 35 �965 5,000 36 - 75 1966 4o,000 76 - 115 1967 4o,000 116 - 155 1968 4o,000 156 - 195 �� 1969 4o,000 196 - 235 1970 4o,000 236 - 275 1971 4o,000 276 - 375 1972 100,000 376 - 475 1973 100,000 476 - 575 1974 100,000 576 - 675 1975 100,000 Section III: 3.01 - INTEREST RATES: That said bonds shall bear interest at the following rates per annum, respectively: Bonds Nos. 1 to �� , both inc-1., 5 /! Bonds Nos. -7 to _,'7S , both incl., %, Bonds Nos. to �'%��, both incl., 3: /o Bonds Nos. - to - , both Incl., interest payable September 1, 1961, and semi-annually thereafter on March 1st and September 1st of each year until the principal sum thereof shall have been paid. 3.02 - BANKS OF PAYMENT: That both principal of and interest on said bonds shall be payable in lawful money of the United States of America, without exchange or collection charges to the owners or -4- holders of the bonds and/or interest coupons, at the First National Bank, Beaumont, Texas, or, at the option of the holder, at The Chase Manhattan Bank, New York, New York. The principal of such bonds shall be payable only upon presentation and surrender of said bonds as they respectively become due, and interest falling due on and prior to the respective maturity dates of the bonds shall be payable only upon presentation and surrender of the interest coupons at- tached to said bonds as such coupons severally become due. Section IV: EXECUTION OF BONDS AND INTEREST COUPONS: That the official seal of said City shall be impressed upon each of said bonds, and, in ac- cordance with the provisions of Article 717j, Vernon's Texas Civil Statutes, each of said bonds shall be signed by the Mayor of said City and countersigned by the City Clerk, by their facsimile signa- tures. The interest coupons attached to said bonds shall also be executed by the facsimile signatures of said Mayor and City Clerk. Said facsimile signatures, as above, provided may be engraved, litho- graphed, or printed, and shall have the same effect as if said bonds and interest coupons had been signed in person and manually by each of said officers. The registration certificate of the Comptroller of Public Accounts of the State of Texas, which certificate is to be printed on the back of each of said bonds as hereafter provided in Section VII of this ordinance, shall be manually subscribed. Section V: FORM OF BOND: That said bonds shall be in substantially the fol- lowing form, to -wit: -5- z No. $ 1,000 UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF JEFFERSON CITY OF BEAUMONT WATERWORKS SYSTEM REVENUE BOND SERIES 1961 THE CITY OF BEAUMONT, in the County of Jefferson, in the State of Texas, FOR VALUE RECEIVED, hereby acknowledges itself in- debted to and PROMISES TO PAY TO BEARER ON THE FIRST DAY OF SEPTEMBER, 19 , solely from the special fund hereinafter specified, THE SUM OF ONE THOUSAND DOLLARS ($1,000), with interest thereon from the date hereof at the rate of (NOTE TO PRINTER: For interest rates, see Section 3.01 of bond ordinance) per annum, interest payable September 1, 1961, and semi-annually thereafter on March 1st and September 1st of each year until the principal sum hereof shall have been paid. Both principal of and interest on this bond are payable in lawful money of the United States of America, without exchange or collection charges to the owner or holder, at the First National Bank, Beaumont, Texas, or, at the option of the holder, at The Chase Manhattan Bank, New York, New York. The principal hereof shall be payable only upon presenta- tion and surrender of this bond, and interest hereon falling due on and prior to the maturity of this bond shall be payable only upon presentation and surrender of the interest coupons hereto attached as such coupons severally become due. THE DATE OF THIS BOND, in conformity with the ordinance hereinafter mentioned, IS MARCH 1, 1961. THIS BOND IS ONE OF A SERIES OF 675 SERIAL BONDS of like date and tenor, except as to serial number, interest rate, and ma- turity, being numbered consecutively from 1 to 675, both inclusive, M r RECElvn CITY OF FEB O'F ICE OF !`IT Y in the denomination of $1,000 each, AGGREGATING $675,000, and, to- gether with the other bonds of said series, is issued for the purpose of improving and extending the City's existing waterworks system, under and in strict conformity with the Constitution and laws of the State of Texas, particularly Articles 1111 to 1118, both inclusive, Vernon's Texas Civil Statutes, as amended, and by authority of a vote of the duly qualified resident electors of said City who owned tax- able property within said City and who had duly rendered the same for taxation, at an election held within said City on the 29th day of August, 1956, and pursuant to an ordinance duly adopted by the City Council of said City and duly recorded in the official minutes of said City Council, to all the provisions of which ordinance the otner or holder of this bond and of the interest coupons appurtenant hereto by the acceptance thereof expressly assents. The bonds of this series constitute a portion and the final installment out of a total of $6,675,000 revenue bonds authorized at the election men- tioned above, $6,000,000 bonds out of said total authorized bonds having heretofore been issued: (a) $2,000,000 bonds out of said total authorized bonds having been combined with $800,000 revenue refunding bonds into an issue of $2,800,000 Waterworks System Revenue Bonds, Series 1956, dated September 1, 1956, (b) $2,000,000 Water- works System Revenue Bonds, Series 1958, dated March 1, 1958, con- sisting of original bonds and bonds issued to refund bonds issued out of said total authorized bonds, and (c) $2,000,000 Waterworks System Revenue Refunding Bonds, Series 1959, dated March 1, 1959, consisting of bonds issued to refund bonds issued out of said total authorized bonds. EACH SUCCESSIVE HOLDER OF THIS BOND and each successive holder of each of the interest coupons hereto attached is -7- F i� I conclusively presumed to forego and renounce his equities in favor of subsequent holders for value and without notice, and to agree that this bond and each of the interest coupons hereto attached may be negotiated by delivery by any person having possession thereof, how- soever such possession may have been acquired, and that any holder who shall have taken this bond or any of the coupons from any person for value and without notice, thereby has acquired absolute title thereto, free from any defenses enforceable against any prior holder and free from all equities and claims of ownership of any such prior holder. The City of Beaumont and its official and fiscal agents shall not be affected by any notice to the contrary. THIS BOND SHALL NOT BE DEEMED TO CONSTITUTE A DEBT TO THE CITY OF BEAUMONT or a pledge of its faith and credit, but shall be payable, along with the outstanding Series 1956 bonds, Series 1958 bonds, and Series 1959 bonds, as to principal and interest, solely from the revenues derived from the operation of the waterworks sys- tem of said City, including all additions, extensions, and improve- ments thereto which may hereafter be made, after deduction of the reasonable expenses of maintenance and operation of said system (the bonds of this issue and the outstanding Series 1956 bonds, Series 1958 bonds, and Series 1959 bonds being in all respects on a parity with one another). The holder hereof shall never have the right to demand payment of this obligation out of any funds raised or to be raised by taxation. THE CITY OF BEAUMONT EXPRESSLY RESERVES THE RIGHT TO ISSUE additional bonds payable from the net revenues of the waterworks sys- tem of the City, and such additional bonds may be on a parity in all respects with the outstanding Series 1956 bonds, Series 1958 bonds, Series 1959 bonds, and the bonds of this issue, but such additional parity revenue bonds may be issued only pursuant to and subject to the restrictions, covenants, and limitations contained in the ordi- nances authorizing the Series 1956 bonds, the Series 1958 bonds, the Series 1959 bonds, and the bonds of this issue, to which reference is hereby made for all particulars. IT IS HEREBY CERTIFIED, RECITED, AND REPRESENTED that the issuance of this bond and the series of which it is a part is duly authorized by law; that all acts, conditions, and things required to exist and to be done precedent to and in the issuance of this bond and this series of bonds to render the same lawful and valid, have been properly done and performed, and have happened in regular and due time, form, and manner, as required by law; that due provision has been made for the payment of the principal of and interest on this bond and the series of which it is a part and the outstanding Series 1956 bonds Series 1958 bonds and Series 1959 bonds by pledg- ing the net revenues of said waterworks system; and that the issu- ance of this bond and this series of bonds does not exceed any Constitutional or statutory limitation. IN TESTIMONY WHEREOF, the City Council of the City of Beaumont, Texas, has caused the corporate seal of said City to be affixed hereto, and, in accordance with the provisions of Article 717j, Vernon'.s Texas Civil Statutes, has caused this bond to be signed by the Mayor of said City and countersigned by the City Clerk, by their facsimile signatures, and has caused the interest coupons hereto annexed also to be executed by the facsimile signatures of said Mayor and City Clerk, all as of the lst day of March, 1961. COUNTERSIGNED: City Clerk Mayor, City of Beaumont, Texas k' FORM OF INTEREST COUPON: Section VI: That the interest coupons attached to such bonds shall be in substantially the following form: No. ON THE 1ST DAY OF 19 , THE CITY OF BEAUMONT, in the County of Jefferson, in the State of Texas, PROMISES TO PAY TO BEARER, without exchange or collection charges, at the First National Bank, Beaumont, Texas, or, at the option of the holder, at The Chase Manhattan Bank, New York, THE SUM OF $ in lawful money of the United States of America, solely from the special fund specified in the bond to which this coupon appertains, said sum being interest due that date on City of Beaumont Waterworks System Revenue Bond, Series 1961, dated March 1, 1961, bearing the number hereinafter specified. The holder hereof shall never have the right to demand payment of this obligation out of any funds raised or to be raised by taxation. Bond No. City Clerk Mayor, City of Beaumont, Texas Section VII: REGISTRATION BY COMPTROLLER AND FORM OF HIS CERTIFICATE: That each of said bonds shall be registered by the Comptroller of Public Accounts of the State of Texas, as provided by law, and the regis- tration certificate of said Comptroller, which certificate is to be printed on the back of each of said bonds and manually subscribed, shall be in substantially the following form: -10- OFFICE OF THE COMPTROLLER REGISTER NO. THE STATE OF TEXAS I HEREBY CERTIFY that there is on file and of record in my office a certificate of the Attorney General of the State of Texas to the effect that this bond has been examined by him as required by law; and that he finds that it has been issued in conformity with the Constitution and laws of the State of Texas; and that it is a valid and binding special obligation of the City of Beaumont, Texas, pay- able from the revenues pledged to its payment by and in the ordinance authorizing same, and said bond has this day been registered by me. WITNESS MY HAND AND SEAL OF OFFICE at Austin, Texas, Comptroller of Public Accounts of the State of Texas Section VIII: DEFINITIONS: That, as used in this ordinance, the following terms shall mean and include, and are defined, as follows, to -wit: (a) City - The City of Beaumont, Texas, and, where appro- priate, the City Council thereof. (b) System - The waterworks system of the City, including all present and future extensions, replacements, and improvements to said waterworks system. (c) Net Revenues - The gross revenues derived from the operation of the System less the reasonable expenses of operation and maintenance of said System, including all salaries, labor, ma- terials, interest, and such repairs and extensions as in the judg-- ment of the governing body of the City are necessary to keep the plant or utility in operation and render adequate service to such City and the inhabitants thereof, or such as might be necessary to -11- �t meet some physical accident or condition which would otherwise im- pair the original security. (d) Bonds - The $675,000 Series 1961 revenue bonds authorized by this ordinance. (e) Outstanding Bonds - The outstanding bonds of the City's (1) $2,800,000 Waterworks System Revenue Bonds, Series 1956, dated September 1, 1956, (2) $2,000,000 Waterworks System Revenue Bonds, Series 1958, dated March 1, 1958, and (3) $2,000,000 Water- works System Revenue Refunding Bonds, Series 1959, dated March 1, 1959• (f) Additional Bonds - The additional parity revenue bonds that the City expressly reserves the right to issue in Section XI of this ordinance. Section IX: ADOPTION OF PROVISIONS OF REVENUE BOND ORDINANCE OF NOVEMBER 13, 1956: That the Bonds authorized by this ordinance shall be issued under the terms, conditions, and provisions of Sections IX, X, XI, and XII of the ordinance adopted by this City Council on the 13th day of November, 1956, which authorized the issuance of the Series 1956 Revenue Bonds, except where the designated provisions of said ordi- nance of November 13, 1956, are inconsistent or in conflict with the provisions of this ordinance, in which event the provisions of this ordinance shall govern; and said designated sections (except where inconsistent or in conflict with the provisions of this ordinance) are hereby made a part of this ordinance and shall apply with equal force to the Bonds hereby authorized. RPni-i nn Y. ADDITIONAL PAYMENTS INTO BOND FUND AND RESERVE FUND: (a) After pay- ment of the expenses of operation and maintenance of the System, as -12- dk provided in Section IX(2)(a) of the ordinance of November 13, 1956 (which ordinance authorized the issuance of the Series 1956 Revenue Bonds), and simultaneous with the making of the payments into the Bond Fund required under: Section IX(2)(b) of said ordinance of November 13, 1956, Section X(a) of the ordinance of March 11, 1958 (which authorized the issuance of the Series 1958 Revenue Bonds), and Section X(a) of the ordinance of May 19, 1959 (which authorized the issuance of the Series 1959 Revenue Refunding Bonds), the City shall pay into said Bond Fund the following (in addition to the payments required under said ordinances of November 13, 1956, March 11, 1958, and May 19, 1959): (1) Beginning with March of 1961 and in each month thereafter to and including August of 1962, an amount equal to not less than one -sixth (1/6th) of the next maturing interest on the Bonds; and (2) During each year, beginning September 1, 1962, an amount equal to not less than 100% of the amount required to meet the interest and principal payments falling due on and before the next maturity date of the Bonds. The amount required to be paid into the Bond Fund in each year here- under shall be in substantially equal monthly payments from moneys in the System Fund (which System Fund was established in Section IX(2) of the ordinance of November 13, 1956). If in any month the City shall, for any reason, fail to pay into said Bond Fund the full amounts above stipulated, amounts equivalent to such deficiencies shall be set apart and paid into said Bond Fund from the first available unallocated revenues of the following month or months and shall be in addition to the amounts hereinabove provided to be other- wise paid into said Bond Fund each month. in (b) In addition to the payments into the Reserve Fund required under Section IX(2)(c) of said ordinance of November 13, 1956, Section X(b) of said ordinance of. March 11, 1958, and Section X(b) of said ordinance of May 19, 1959, the City shall pay into said Reserve Fund each month (in approximately equal monthly payments of deposits), beginning with March, 1961, not less than one -sixtieth (1/60th) of the average annual principal and interest requirements of the Bonds hereby authorized, and such payments shall be continued until such time as a balance is reached (in addition to the balance in said Reserve Fund required by the ordinance of November 13, 1956, by the ordinance of March 11, 1958, and by the ordinance of May 19, 1959) of not less than said average annual principal and interest requirements of the Bonds hereby authorized. If in any month the City shall, for any reason, fail to pay into the Reserve Fund the full amount above stipulated, amounts equivalent to such deficien- cies shall be set apart and paid into said Reserve Fund from the first available and unallocated revenues of the following month or months and shall be in addition to the monthly deposit hereinabove provided to be otherwise paid into said Reserve Fund. When said balance of not less than the average annual principal and interest requirements of the Bonds hereby authorized is reached in the Reserve Fund, no further payment (insofar as the Bonds hereby authorized are concerned) need be made into said Fund; however, in the event that said balance is ever reduced to an amount less than the average annual principal and interest requirements of the Bonds hereby authorized, the monthly payments, as above provided, shall be resumed and continued until said balance of not less than the average annual principal and interest requirements of the Bonds hereby authorized is again reached. -14- Section XI: ADDITIONAL BONDS: That, in addition to inferior lien bonds author;- ized by Chapters 249 and 250, Acts of the 51st Legislature of Texas, Regular Session, 1949, as amended, the City reserves the right to issue additional parity revenue bonds in one or more installments and in one or more issues, and such Additional Bonds, when issued, may be secured by and payable from a first lien on and pledge of the net revenues of the System in the same manner and to -the same extent as are the Outstanding Bonds and the Bonds hereby authorized. No Additional Bonds, however, shall be issued unless: (a) Each of the funds created by the ordinance of November 13, 1956, contains the amount of money then required to be on de- posit therein (as required by the ordinance of November 13, 1956, by the ordinance of March 11, 1c.:58, by the ordinance of May 19, 1959, by this ordinance,. and by the proceedings authorizing any Additional Bonds then outstanding); (b) The net revenues of the System for the last preceding fiscal year, as certified by an independent certified public account- ant or firm of certified public accountants, were equal to at least one and one-half (1-1/2) times the average annual principal and in- terest requirements on all bonds that will be outstanding payable from the revenues of the System after the Additional Bonds then pro- posed to be issued are issued, sold, and delivered; (c) Provision is made in the ordinance or ordinance authorizing the Additional Bonds then proposed to be issued for ap- proximately equal monthly payments or deposits into the Reserve Fund until a balance is reached (in addition to deposits into said Fund required by other ordinances or proceedings relating thereto and in addition to any balance or balances required by said other -15- 4. ov �• LJ i C,t_ _ 7—� ordinances or proceedings) of not less than the average annual prin- cip al and interest requirements of said Additional Bonds then pro- posed to be issued and which balance shall be reached within five (5) years from the date of such Additional Bonds; and (d) The Additional Bonds then proposed to be issued are made to mature on September 1st in each of the years in which they are schedule to mature. The term "net revenues" as used herein shall mean all of the net revenues of the System (excluding income received specif- ically for capital items) after deduction of the reasonable expenses of operation and maintenance of the System (excluding expenditures for capital items). Section XII: RECORD OF BONDS AND APPROVAL AND REGISTRATION OF BONDS: That it shall be the duty of the Mayor to submit the record of the Bonds hereby authorized, and said Bonds, to the Attorney General of the State of Texas for examination and approval, and thereafter to have said Bonds registered by the Comptroller of Public Accounts of the State of Texas. Section XIII: SALE OF BONDS: That said Bonds, having been advertised for public sale in accordance with the terms and provisions of Section 4 of Article IX of the City's Home -Rule Charter, and bids having been received pursuant thereto, it is hereby found and determined that at a price of the principal amount of said Bonds, plus accured in- tprest thereon from the date thereof to the date of actual delivery, ,✓ ,cam Gv cif ' /,3,5 / 5 is the best bid received, and the sale of said Bonds to the named -16- v c* -bidder at the stated price is hereby authorized, approved, ratified, and confirmed, subject to the unqualified approving opinion, as to the legality of said Bonds, of the Attorney General of the State of Texas, and Vinson, Elkins, Weems & Searls, Houston, Texas, market attorneys. After the Bonds have been registered by the Comptroller of Public Accounts of the State of Texas, said Comptroller is author- ized and requested to deliver the same to the American National Bank, Austin, Texas, for the account of the City. Upon receipt of the full purchase price, said Bonds shall be delivered to the purchasers. Section XIV: DUTIES OF MAYOR AND CITY CLERK: That the Mayor and City Clerk are hereby authorized and directed to do any and all things necessary and/or convenient to carry out the terms of this ordinance. Section XV: EFFECTIVE DATE OF ORDINANCE: That this ordinance shall take effect from and after the date of its passage. PASSED this loth day of February, 1961. ATTEST: ty Clerk, City of Bleaumont, Texas (SEAL) Mayor, City of Beaumont, Texas The -foregoing ordinance and all the terms and provisions thereof are hereby approved. e_Dfrecto /ofzVi.n_ahce GENERAL CERTIFICATE - THE STATE OF TEXAS § COUNTY OF JEFFERSON § 1, the undersigned, City Clerk of the City of Beaumont, Texas, do hereby make and execute this certificate for the benefit of the Attorney General of the State of Texas and all other inter- ested parties. I certify as follows, to -wit: (1) That the City of Beaumont, Texas, was incorporated pursuant to the general laws of the State of Texas, and is operating under said laws and the Home Rule Charter of said City, which charter was adopted at an election held within said City on the 6th day of December, 1947, and that said charter has in no way been amended, repealed, or altered since said charter was amended by virtue of the election held within said City on the 8th day of April, 1952. (2) That the following persons constitute the City Council of said City, to -wit: City. C. H. LeBlanc Jack M. Moore W. W. Leach Earl L. Patton Rolfe Christopher Jas. T. Garrard Mayor Councilman, Ward 1 Councilman, Ward 2 Councilman, Ward 3 Councilman, Ward 4 City Clerk (3) That J. W. Jeffrey is Director of Finance of said (4) That the following is a true and correct statement of the gross revenues, the maintenance and operation expenses, and the net revenues of said waterworks system for the indicated fiscal years, to -wit: ei N Yr. end, June 30 Gross 1957 $ l,090,406.38 1958 1,162,781.64 1959 1,244,048.15 1960 1,515,294.52 M & 0 $ 511,030.97 538,267.26 579,958.32 540,904.19 Net $ 579,375.41 624,514.38 664,089.83 974,390.33 (5) That, as of the date of this certificate, the Bond Fund and the Reserve Fund (established in the ordinance of November 13, 1956, authorizing the $2,800,000 Waterworks System Revenue Bonds, Series 1956) contain the following amounts of money, respectively: Bond Fund: $ 337, 583, 50 ; and Reserve Fund: $ 393,414.85 (6) That neither the properties nor the revenues of the waterworks system of said City are in any way pledged or hypothe- cated except as the net revenues of said system are pledged to the payment of the outstanding bonds of the following waterworks system revenue bonds of said City, to -wit: (a) $2,800,000 Waterworks System Revenue Bonds, Series 1956, dated September 1, 1956 (Comptroller's Register No. 31453), (b) $2,000,000 Waterworks System Revenue Bonds, Series 1958, dated March 1, 1958 (comptroller's Register No. 32280); (c) $2,000,000 Waterworks System Revenue Refunding Bonds, Series 1959, dated March 1, 1959 (Comptroller's Register No. 33062), and (d) $675,000 Waterworks System Revenue Bonds, Series 1961, dated March 1, 1961, now in process of being- issued. WITNESS MY HAND AND THE OFFICIAL SEAL OF SAID CITY, this the 14th day of February, 1961. (SEAL) CQj y Clerk, City of Beaumont, Texas CERTIFICATE AS TO RATES CHARGED BY CITY OF BEAUMONT WATERWORKS SYSTEM THE STATE OF TEXAS § COUNTY OF JEFFERSON § I, the undersigned, City Clerk of the City of Beaumont, Texas, do hereby certify that the following is a true and correct schedule of rates charged per month by said City to the inhabitants of said City,- to -wit: First 1,500 gallons (minimum) $ 1.25 Next 98,500, gallons, per M .33 Next 100,000 gallons, per M .29 Next 100,000 gallons, per M .28 Next 100,000 gallons, per M .27 Next 100,000 gallons, per M .26 Over 500,000 gallons, per M .25 (Provided, that water furnished to public schools, parochial schools, or schools operated by relig- ious organizations is charged at the rate of $0.25 per 1,000 gallons of water.) WITNESS MY HAND AND THE OFFICIAL SEAL OF SAID CITY, this 14th day of February, 1961. . C.i�ty Clerk, City of Beaumont] (SEAL) Texas l -_ r I 4 CERTIFICATE AS TO RATES CHARGED BY CITY OF BEAUMONT WATERWORKS SYSTEM THE STATE OF TEXAS § COUNTY OF JEFFERSON § I, the undersigned, City Clerk of the City of Beaumont, Texas, do hereby certify that the following is a true and correct I chedule of rates charged per month by said City to the inhabitants of said City, to -wit: First 1,500 gallons (minimum) $ 1.25 Next 98,500 gallons, per M .33 Next 100,000 gallons, per M .29 Next 100,000 gallons, per M .28 Next 100,000 gallons, per M .27 Next 100,000 gallons, per M .26 Over 500,000 gallons, per M .25 (Provided, that water furnished to public schools, parochial schools, or schools operated by relig- ious organizations is charged at the rate of $0.25 per 1,000 gallons of water.) WITNESS MY HAND AND THE OFFICIAL'SEAL OF SAID CITY, this 14th day of February, 1961. �C-Vty Clerk, City of Beaumont, (.SEAL) Texas