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03-27-1950-Resolution-Canvassing Bond Election Returns-03/27/1950RESOLUTION CANVASSING RETURNS AND DECLARING RESULT OF REVENUE BOND ELECTION C `LR NG RESULT OF REIT IJE BOND ELECTION I'1Y OF SAINGER OUNWY Or, DENTON ON THIS the All, f March, 1950, he Cite Council f the C._ty of Sanger,, texas,, convened in session., at the regular meeting place of said Council,, with the following He D. COOPE E a Me ACKER J® P. A P Nj AIDERMEN, ROY SPRATT, C e R . C " PIA , d with the o l ing absento %, o i` utin ticaxum,, at which time the following among other siness was transacted, totqit. a resolution, Alderman introduced proposed 3333 11144 he °e z pion w readIn f ull w Thereu on Alderm n :. ; rrxtu ade a motion that the resolution be passed, and adopted, The emotion was sectsoy Al errta.n , . ` `P .e mouion arried b the following vote. OES: None. I ° a� T 1 � �f c�z� � ,®VV.L , kirx AV7 th dad. of march. � 3 it � .itJ <�n,�5 IL I UJ�.U,0 q kax$d d 1 ,,x�r�xi tkx� f 11ca nirx L� L.X &�? tip e it� n rxd�, @ , Ani-AaA n�trNl�eAn 1, 13P� x� irxt����t to 30, inclusive, due $1,000 October 1, 1950,9 $1,000 April 1, 1951,9 $1,,000 October 1, 1951, $1,000 April 1, 1952, $ ,000 October 1, 1952,1 $1,000 April 1, 1 53,, and 1,000 October 1, 1953'. and which bond were authorized nd iud pursuant o a ordinance adopted by the its o z c11 of .i City o the 7th day of November,, 8, c�ordd i Book , Pe 11 e e®, of the Minutes o the ity Council, and to which ordinance reference is here d f'pr further description of said. revenue on 1ndebt� e '; Bald new po,000 revenue bonds to be special obligatica. �f the City, to mature serially over xpiod of yean not to exceed twenty (20) years from their date, to bean na erest at a at not 't exceed THREE PER CENTUM (6) per n� ALW 14 Y CA x1.d 0110V11 tne city ouncil be authorized to pay both principal and interest said bonds from and secure same by an exclusive first lien on and pledge of the revenues of the City's Electric Sight and Power System, after deduction of reasonable e � �ens o operation and m,itenas2ce, s defined y ttxat" be considered the returns of said election,@ and that the same was in 1l respects legally heI, Ill U11 he propos uion for the issuance of the W,,000 revenue bonds, of which number rotes were cast "FOR TBEA ISSUANCE Or REVENUE O S AM) THE PDG® �IN C7 °I`//.��. �, ��.l.N�EjqS� O���g' 'i..��r �v T..-pY°�����p}�^yi'jaGHg°'Pp ,A�.Tq�POWER SYSTEM and rotes were cast "PGAI ST THE ISSUANCE OF RE1rENUE BONDS WHEREAS,, it further appears from said returns that there were cast at said election �votes on the proposition _ votes were cast "FOR THE ISSUANCE OF REVENUE BONDS AN TUMBER "; and votes were cast "AGAINST THE ISSUANCE E ECTRIC LIGHT AND POWER SYSTEM TO THE PA KENT THEREOF, AS S a 11 Interest an said ad i the time manner prescribed lave That i,N� �ra�a� itia�°� toED `anc�� far t ��aura� a� aa���truatiz� ipIaILt.T nlaraments, t�i®r�r� rir to tY Citr Elaatt'ia fit and rower System, was sustained a majority of the qualified voters of a.ic� Cite vatir� t �i� �atia wa a�r�. teal �ra�rt� �_ !!ill ill Ii ii SASSED AND APPROVED, this the re tads oru in bookae eu seq., of the Plinubes r�inutes pertaining to its option) are of record in Book � r ,� et seed®, of the Minutes of the City Council,