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HomeMy WebLinkAboutResolution - 120347C - Canvassing And Declaring Results Of Election - Revenue Bonds - 12/03/19471 Z0304 7 C STATE OF TEXAS COUNTY OF LUBBOCK CITY OF LUBBOCK RESOLUTION CANVASSING RETURNS IN ELECTION REVENUE BONDS BE IT REMEMBERED, that on this the 3rd day of December, A.D., 1947, the City Commission of the City of Lubbock convened in Special Session at the regular meeting place thereof in the City Hall Build- ing in Lubbock, Texas, at 10:00 o'clock A.C., with the following members present, viz: Honorable C. A. Bestwick, Mayor and Presiding Officer John Spikes, Commissioner J. Ray Dickey, Commissioner W. Be Price, Commissioner F. H. Childress, Commissioner Lavenia Williams, Secretary constituting the entire Commission, whereupon the following, among other business was transacted: Commissioner We Be Price introduced a resolution and moved its adoption. The motion was seconded by Commissioner J. Ray Dickey. The motion carrying with it the adoption of the resolution prevailing by the following vote: AYES: Commissioners W. Be Price, J. Ray Dickey, John Spikes and F. H. Childress and Mayor Commissioner C. A. Bestwick. NOES% None The resolution is as follows: RESOLUTION CANVASSING RETURNS AND DECLARING RESULTS OF AN ELECTION HELD WITHIN, FOR AND THROUGHOUT THE CITY OF LUBBOCK, TEXAS ON DECEMBER 2, 1947, TO DETERMINE WHETHER OR NOT, BY THREE (3) PROPOSITIONS, THE REVENUE BONDS OF SAID CITY SHALL BE ISSUED TO THE AGGREGATE AMOUNT OF FOUR MILLION NINE HUNDRED TWENTY- FOUR THOUSAND ($4,9240000), SAID BONDS TO BE SPECIAL OBLIGA- TIONS OF THE CITY OF LUBBOCK, TEXAS PAYABLE AS TO BOTH PRINCIPAL AND INTEREST SOLELY FROM THE REVENUES OF THE CITY'S ELECTRIC LIGHT SYSTEM FOR THE PURPOSE OF IMPROVING, ENLARGING, EXTENDING AND REPAIRING SAID ELECTRIC LIGHT SYSTEM, THE CITY'S WATER AND SEWER SYSTEMS. i 2o.347 C WHEREAS, by Ordinance No. 835, adopted by the City Commission on November 13, 1947, and now recorded in Volume 3 at Page 179 et seq. of the Ordinance Register of the City of Lubbock, this City Commission ordered an election to be held within and throughout the limits of the City of Lubbock on December 2, 1947, for the purpose of submitting to the resident qualified electors of said City, who own property within said City subject to taxation and who have duly rendered the same for taxation three separate propositions to determine whether or not the negotiable revenue bonds of said City shall be issued in the aggregate amount of Four Million Nine Hundred Twenty -Four Thousand Dollars, bearing interest at a rate of not exceeding three and three - fourth (3-3/4%) percent per annum from date and maturing serially or otherwise at such time or times as may be deemed most expedient by the City Commission with a ten (10) year option to call, and said bonds to mature not later than twenty-five (25) years from date, for the three separate and distinct propositionswhich are more fully set - forth in said Ordinance, which said Ordinance is hereby referred to and adopted herein for such reference and all pertinent purposes; and, VVI REAS, such election was duly held in a lawful manner and at the time and place provided for in said Ordinance and it is affirma- tively found and declared by this Commission that due and legal notice of such election was given for the time and in the manner as prescribed by the laws of the State of Texas, the affidavit of posting and pub- lishing such notice having been examined by this Commission and having been found to be in all respects sufficient;and, tiuFIT,AS, the Judges of such election having made due and legal returns thereof to this City Commission, together with the poll lists and tally sheets maintained during such election and the City Commission having examined in to the election, the manner of holding same and having duly considered such returns: THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LUBBOCK, TEXAS: I. That said election was duly and legally called; that notices there- of were given in accordance with the Constitution and statutes of the 2a3H7c State of Texas and the Charter of the City of Lubbock, as well as the Ordinance mentioned herein; that the election was held in strict conformity with the Constitution and statutes of the State of Texas and the Charter and Ordinance of the City of Lubbock; that due re- turns of said election have been made by the proper officers thereof; that only qualified electors residing in the City of Lubbock, who owned property subject to taxation within said City and who have duly rendered the same for taxation were permitted to vote in said elec- tion. II. That from the returns duly and legally made to this Commission and properly canvassed by this Commission it is found and declared that the three various propositions were approved and sustained by the following vote: (a) On Proposition Number I there were cast 1016 votes, of which number there were cast: FOR THE ISSUANCE OF REVENUE BONDS FOP, IMPROVEMENTS, ETC., TO THE CITY'S ELECTRIC LIGHT SYSTEM - - - - - - - - - 894 votes AGAINST THE ISSUANCE OF REVENUE BONDS FOR IMPROVEMENTS, ETC., TO THE CITY'S ELECTRIC LIGHT SYSTEM - - - - - - - - - 122 votes MAJORITY, FOR THE ISSUANCE OF REVENUE BONDS FOR IMPROVE- MENTS, ETC., TO THE CITY'S ELECTRIC LIGHT SYSTEM - - - - - - 772 votes (b) On Proposition Number II there were cast 1011 votes, of which number there were cast: FOR THE ISSUANCE OF REVENUE BONDS FOR IMPROVEMENTS, ETC., TO TITS CITY'S WATER WORKS SYSTEM - - - - - - - - - - 926 votes AGAINST THE ISSUANCE OF REVENUE BONDS FOR IMPROVEMENTS, ETC., TO THE CITY'S WATER WORKS SYSTEM - - - - - - - - - - 85 votes MAJORITY, FOR THE ISSUANCE OF REVENUE BONDS FOR IMPROVE- MENTS, ETC., TO THE CITY'S WATER FORKS SYSTEM - - - - - - - 841 votes (c) On Proposition Number III there were cast 1009 votes, of which number there were cast: FOR THE ISSUANCE OF REVENUE BONDS FOR IMPROVEMENTS, ETC., TO THE CITY'S SANITARY SEWER. SYSTEM - - - - - - - - - 935 votes AGAINST THE ISSUANCE OF REVENUE BONDS FOR IMPROVEMENTS, ETC., TO THE CITY'S SANITARY SEWER, SYSTEM - - - - - - - - - 74 votes MAJORITY, FOR THE ISSUANCE OF REVENUE BONDS FOR IMPR.OVE- MENTS, ETC., TO THE CITY'S SANITARY SE9aR SYSTEM - - - - - 861 votes v It is therefore further ordered and declared by the City Commis- sion that a majority of the qualified resident electors of the City of Lubbock, who own property within said City subject to taxation and who had duly rendered the same for taxation voting at an election held for such purposes on December 3, 1947, in the City of Lubbock, voted favorably upon each and all of said issues and that by virtue of the mandate of such qualified electors, this City Commission has been fully and legally authorized to issue such bonds. That the City Commission of the City of Lubbock, Texas be and it is hereby in all respects fully authorized, ordered and directed to issue said revenue bonds and each of them, and to do any and all things necessary, convenient and requisite in the issuance, sale and delivery of such bonds and the expending of the proceeds to be derived therefrom for the purposes authorized. That all further orders, resolutions and ordinances passed and adopted in connection therewith shall be pursuant to the authority vested in said City Commission by virtue of such election and that all further and future action be reserved for further and future meetings of this Commission. Passed, approved and adopted by unanimous vote of the Commission this the 3rd day of December, 1947. ATTEST: City Secretary, City of Lubbock, Texas (SEAL) W07 Mayor, City of Lubbock, Texas. �.