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,