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Res 28 11/22/1948 y RESOLUTION NO BY THE BOA:iD OF ALD11iEN OF THE CITY OF WICHITA FALLS,f TLiu=30 GAJWASSING REM015 AND DECLARING RESULT Or Id4 aECTION 014 THE QUESTION OF TIC ISSUA14GE OF 4 250,000.00 VIAaE�J ORKS SYST l BONDS; 014 THE QUESTION OF THE ISSUANCE OF $250,000.00 SfilgITAHY Shl-Lh SYST A BONDS, AND ON THE QUi,STIOiv OF THE ISSU M CE OF �500,OOO.00 ShMILPL. IMPi M1V -A1T AT`J17 i�T SIUN Rt�V�3YUE BONDSa VRiL' EAS, heretofore on the llth day of October, 1948, the Board of Aldermen of the City of Wichita Falls, Texas, adopted a resolution calling an election to be held in said City on the 9th day of November, 1948, on the following propositions: PROPOSITION 140, l "Shall the Board of Aldermen of the City of Wichita Falls, Texas, be authorized to issue the bonds of said City in the amount of Two Hundred Fifty Thousand ($250,000.00) Dollars, maturing serially in such installments as may be fixed by the Board of Aldermen, the maximun: maturity date being not more than Thirty (30) years from their date, and bearing in- terest at a rate not to exceed Four (4%) per cent per annum, payable annually or semi-annually, and to levy a tax sufficient to pay interest as it accrues and principal as it matures on said issue of bonds, for the purpose of constructing, repair- ing, improving and extending the water works of said City, as authorized by the Constitution and laws of the State of Texas." PHOPOSITION 140. 2 "Shall the Board of A1.dereien of the City of Wichita Falls, Texas, he authorized to issue the bonds of said City in the amount of Two Hundred Fifty Thousand (�250,000,00) Dollars, maturing serially in such installments as may be fixed by the Board of Aldermen, the maximum maturity date being n6t more than Thirty (30) ;rears from their date, and bearing in- terest at a rate not to exceed Four (4%) per cent per annum, payable annually or semi-annually, and to levy a tax sufficient to pay interest as it accrues and principal as it matures on said issue of bonds, for the purpose of constructing, repair- ing, improving and e,fttending the sanitary sewers of said City, as authorized by the Constitution and laws of the State of Texas." PnOPOSITION 110. 3 "Shall the Board of Aldermen of the City of Wichita Falls, Texas, be authorized to issue the bonds of said City in the amount of Fire Hundred Thousand ($500,000.00) Dollars, maturing serially in such installments as may be fixed by the Board of Aldermen, the maximum Piaturity being not more than Twenty Five (25) ;dears from their date, bearing inter- est at a rate not to exceed Four (454) per cent per annum, for the purpose of constructing .:improvements and extensions to the sanitary sewer system of said City, to be issued in accordance with a*id secured in the manner provided in Arti- cles 1111-1118, both inclusive, of the i?eVised Civil Statutes of Texas, 1925, as arYended, each bond to be conditioned that the holder thereof shall never have the right to demand pay- ment of said obligation out of funds raised or to be raised by taxation, secured by a pledge of the net revenues from the operation of said system." and lcaHEAS, said election was duly held at the time and place specified after due notice as required by law has been given by posting and publication; and WHERHAS, there were cast at said election the Following votes: PROPOSITION NO. 1 "FOR THE ISSUANCE OF WATE1f;,ORKS SYSTEM BONDS1° ln�� Votes; "AGAINST THE; ISSUANCE OF WATi0 ORIaS SYSTIE BONES" `� Votes. PROPOSITION 140. 2 / "FOR THE ISSUANCE OF SANITARY SEWXR, SYST U BONDS" 1171 Votes; 'IAGAINST THE ISSUANCE OF SINITARY SEQR SYSTEM BaNamp Votes PROPOSITT( No. 3 "FUR THE ISSUANCE OF SLATER IZTROVE104T AFD EXTENSION REVENUE EUNDS'' �Uvotes; "AGAINST THE ISSUANCE OF SEMER I11,1PROV:€,MENT AND EXTENSIGN REVENUE BOLDS'' I 'Motes., as is reflected in the election returns heretofore filed frith the City Secre- tary; and WHEREAS, only qualified taxpaying voters owning taxable .pro- perty in said City and who had duly rendered their property for taxation more all aced to vote; BE IT RESOLVED BY THE BOARD OF AED RHEN OF' THE CITY .OF NICHITA FALLS) TEXAS: 1: That said election was duly called; that noticre was given in accordance with law and in accordance with the resolution calling the elec- tion; that the election was held in accordance with law; that the return of said election has been made by the properQfficers;` that a majority of the qualified voters who own taxable property in said City and who have duly ren- dered the same for taxation voting at said el.edti.on have voted against the issuance of the bonds. ADOPTED AND APPROVED this the 'y`r day of November, 1948. r ayor,, City of Wicidt Falls, Texas ATTEST; y Clerk;, City of Wichita Falls,. Texas.