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Min 08/02/1954 r 443 Wichita Falls, Texas Memorial Auditorium Bldg. August 2, 1954 The Board of Aldermen of the City of Wichita Falls, Texas, met in called session on the above date, in the Council Room of the Memorial Auditorium Building, at 3 o'clock P.M., with the following members present: Lloyd C. Thomas Mayor R. P. Willis J. Bailey Meissner Jack L. Hammond Aldermen Dr. E. Aubrey Cox File E. Lam Gene Liepold Geo. T. Henderson City Clerk H. A. Thomason City Manager J. Walter Friberg City Attorney Mayor Lloyd C. Thomas stated the meeting had been called for the purpose, among other things, to consider Resolution No. 260. RESOLUTION NO.260 BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE CITY OF WICHITA FALLS, TEXAS: THAT the City of Wichita Falls ratify, adopt and affirm its obligations as set out in a Contract dated August 2, 1954, by and between M. E. Ellison & Co. Inc. et al and the Wichita County Water Improvement District No. 1, (a copy of which is attached hereto and incorporated herein by reference,) and that the City Manager be directed to proceed now with the detail York required by such Contract. • Moved by Alderman Willis that Resolution No. 260 be and the same is hereby approved and adopted as read. Motion seconded by Alderman Meissner and carried by the following vote: Yeas: Aldermen Willis, Meissner, Hammond, Cox and Liepold. Nays: Alderman Lam. Moved by Alderman Liepold that the Board of Aldermen authorize the employment of Joe Ward, Engineer, for the purpose of bringing the water survey up to date, at a cost not to exceed $800.00 and to authorize and empower City Manager, H. A. Thomason, to enter into a contract with the said Joe Ward, Engineer, for the same for and on behalf of the City. Motion seconded by Alderman Hammond and carried. Moved by Alderman Hammond that the meeting be adjourned. Motion seconded by Alderman Willis and carried. The Board of Aldermen then adjourned. APPROVED this the / day of , 1954. ATTES �^2�^-� Mayor Y.� City Clerk . ... ...... Wichita Falls, Tomas July 27, 1954 1n US LKOODADLE DQAUD OF DIRECTORS OF MUM COUNTY WATER mammon' DI5IRLx NO. 1. IIUITA =AILi, TEXA5 Centlsmass 1. This prepaid, submitted jointly the undersigned invest- ment bankers, hereinafter called "Denkers" is for the censideratios scrod k:ccoptsoce of Wichita County Water klifrOollOnt District Ni, 1. hereinafter called 'District", and upon such acceptance is further subject E approval sad ratification 10y the City of Wichita Falls, Taxa , hereinafter celled %it `'. IDa ri this proposal has been approved and accepted by the Distric. :ear.. ratified Igo the City, it shall constitute a contract between the District ::;u the ::eager , fee the purposes and considerations herein set forth. It is the understu ailing of the Etchers that tLL water supply of the City is inadequate sad that the eccwitloo of the beaded indebtedness e1 the City is such that it cenaet itself finsoco additional reservoir cad rase enter transmission facilities optima terms, It is understood, however, that the District is is ::,: ; legal position as to permit its financing the ester apply ,r<cilitiss required by the City and that it is willing to do so provided an arrangement cnr be devised mhos ky principal and !surest maturities an say iron?G to be limed will a paid by the City in the fern of water paurches- oe through the facilities provided. 3, The beakers now propose and agree to sedertake to devslep, tun coordinate a plan and program involving the following principal preeedural napes A6 ne t rrt horitatiert and is uance by the District of approximately E,c o,00O. mere or less, of lteveaue 'un payable solely fray revenues derived from C +� wale ce raw avatar to the City; a. k�• construction La ¢:ri£ 0istrict of a r:tor. revervair at the Little 'fc mita wive , a punpiig plant and a raw water transnissioallac to the City's treatment plant, one the corastructioa of !.cake other facilities as the District slay deco rlesireable, all in accordance with en jineeriuq design satual4 wccepta lc to the District aid the City; end .4. Sr Ike Location et a contract between the District sad the City wherein the City shall purchase water tram the District's reservoir to be delivered to the treatise plant of the City, all far a period of years act lees than the life of the District's Beveeue Bonds and at an annual payment to the District equal to the total swami maturities of principal interest on the District's Revenue . together with as annual payment sufficient to cover the erases of meintenasce cad operation of ell facilities, 4, It is agreed that a construction project of the scope eontem plated requires detailed emgiaeeriag studies of the reservoir site and its use!!Capacity es well as cosstrustiom cost estimates and projections of oat* consumption as will Indieste the self-ligaidstiag features of project coats. To this and it is understood and the District is desirous of retaining * OM of Freese end Nichols. Consulting Engineers, to prepare mad engineering iepsrt, but that the District is unwilling to swop the cast of the same nol has asked Beakers to assume this aspens*. The Bankers hereby assume the einesse of. and agree to pay direct to the time' Freese and Nishels. for an engineering report of the scope ardiarily revived far a project of the nature contemplated. 6. Subject to a fismliag of feasibility in the engineering report satiafectory to the District. the City and the Beakers. it is understood rind agreed that as promptly as practicable after the engineering report has bciaa delivered the following program of presider, shall be uadertakent ar The District shell take such steps as are Necessary to convert from a water ia4reronent district to * water control end iverevemeet district if it shall be determined that this is nacessery. Ito District shall order an election on the preposi- h. ties of issuing beads in an amount sufficient to meet project costs and related impasses, such bonds to be secured Ly and payable solely free the proceeds of a contract to be entered into with the City as pro- vided in cab-paragraph 3-c hereof. The City shell order au election on the prepesi- C.. ties of autherisiag the execution by the City of a contract with the District as provided in sub-paragraph 3-c hereof. such election to be conduct- ed on the seine day es the District's bond election. 6. The District has Indicated its desire to retain the tin ci McCall. Parkhurst and Crewe. Attorneys, to prepare and direct all legil preteadips 'squired to carry oat the plan and program contemplated by this proposal. iaaladiag the drafting in cooperation with the Attorneys tar the .sacrist end the City of the contract provided by sub-paragraph 3-e hereof nod holding the rendition of a final apprevieg opinion as to the legality or the bands. The Bankers hereby assume and agree to pay the fire of McCall. I:'arLbursL and Crewe, fee attorneys fees and expenses as statements may be re4dera6 therefor open completion of the program herein sutlined or uprt: :oar abandoment of the program by reason of faller. at either or both of the elections herein ooutaaplated. 7. To carry out the program basic outlined the Bankers agree to cooperate with the officials of the District and the City and the engineers cod attorneys is generally ceardiaatiag and espeditfeg the program. i'a ther- raAre. the Bankers agree to asses ell usual and necessary expenses in connec- tiLia with the authorization, issueless, minutia' and delivery of the bounds, znsladieg the cost et the bond printings hemmer, local expenses of elestions ii�rciu+itz publication eapauses, fees of election judges and elective supplies dell be paid by the District or the City as the case may be es the elections ,Tarr ordered. 8, It is understood and agreed that at least two weeks prior to the date on which the two olestions provided by paragraph Shored are ordered the District shell fix the maturities and thereto or rates of iutaos% which its issue of Revenue Bonds shall bear, this being sewsery is order to determine total annual maturities et principal cad interest as a basis for the annual payments by the City to the District wader the contrast provided is sab«peragraph 3-e hereof. The Beakers shall have the ensluslve right to procure for the District an offer from one or more ryadiaaites d isvestaaat barkers of national reputation in the distribution ©f ■naicipal bands far the perchese of such Revenue Beads, which otter. if accepted by the District. shall be firm for a period of sixty days from the date et said elections sued stall be secured by the usual good faith deposit et 23. The terms et such afar shall be negotiated by the Bankers as agents et the District and subject to the District's acceptance a re- j ictian and shall be in line with cenditiccs then prevailing is the raenieipel bead nmrket. 9. As consideration fer the service* to be rendered by the Beakers anent the fees and eeepansos Vs.4;rx: „; them as herein ceatesrplated the District agrees to pay and the a►,F,.ix :;+,:;L i to accept a ease competed to be r � the sums of $h2 now et the Revenue Bonds issued end sold, such asieunt to be paid at the time of delivery oc the Weds to the purchasers there- of, mod to be paid from preeeads of the sale of the bards and from no other source; such amount to include nut. cover all legal fees and preliminary engineering ev,ienses es provided in paragraphs 4 end t Hereof, and to be the full and complete financial obligatiea of the District to thekors wader this proposal. 10. This contract shall remain in farce and effect for a period of 240 days from date et acceptance =less terminated at en earlier date by failure of one or Yogi: of the elections herein provided. In the event one or both of the elections shall fail thee this contract shall be autonatically terminated thereby, with neither party liable to the other. 11. This proposal is subpitted la quintuplicate counterparts and Its acceptance by the District will be widened by the signatures of the President end Secretary at the spasms prtwi.)ed below for the purpose on all copies, retaining two ccpie and returning the other three to the Backers. One copy is to be submitted by the District to the City awl upon approval and retifieation by the City, the District is to provide the Bashers with three copies et the resolution or ordinance of the City evidencing sash approval and ratification. The parties hereto each agree in good faith to use their best efforts and to eoap,ermte with each ether to the end that this contract may be consummated es eapsditleasly as possible. Respectfully submitted, M. R. E l» 4 ,0 CO., INC. 11AUSCi1Ht -Iu:. .0., J? ------ ICI.':v d ') rTi rx, AND . �:1,.:;;; by vac Dowd of Directors of Wichita County nt.tr Improvement District No. 1 on this tW3tIlday of r 1954. � . I reclicat, of Arcot s 4 ono 1 - Secretory