OR 90-464 Calls bond election on 3/3/90 ORDINANCE NO. 90464 ~
ORDINANCE CALLING A BOND ELECTION /~ ,L'-'~,X ~
COUNTIES OF DALLAS AND DENTON: ~' :
CITY OF COPPELL : ~
WHEREAS, this City Council of said City deems it advisable to call the election
hereinafter ordered; and
WHEREAS, it is hereby officially found and determined that holding the hereinafter
called election on a date other than a uniform election date established by Section 41.001
(a), Texas Election Code, is in the public interest; and that said meeting was open to the
public, and public notice of the time, place and purpose of said meeting was given, all as
required by Vernon's Ann. Civ. St. Article 6252-17.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF COPPELL,
TEXAS:
1. That an election shall be held between the hours of 7:00 A.M. and 7:00 P.M.
on Saturday, March 3, 1990 in said City, at the following designated polling place:
PINKERTON ELEMENTARY SCHOOL
260 Southwestern Boulevard
Said City shall constitute a single election precinct for said election, and the following
election officers are hereby appointed to hold said election:
Jeanne Heath Presiding Judge
Marceline Hempel Alternate Presiding Judge
2. That the Presiding Judges shall appoint not less than two qualified election
clerks to serve and assist in conducting said election; provided that if the Presiding Judge
actually serves as expected, the Alternate Presiding Judge shall be one of such clerks.
3. That absentee voting shall be conducted by personal appearance and by mail
at the City Secretary's Office, Town Center, 255 Parkway Blvd., Coppell, Texas 75019, and
during the period absentee voting is required or permitted by law, being February 12,
1990 through February 27, 1990; the hours designated for absentee voting by personal
appearance shall be from 8:00 A.M. to 5:00 P.M. on each day except Saturdays, Sundays
and legal state holidays; and the absentee voting clerk shall keep said absentee voting
place open during such hours for absentee voting by personal appearance. The absentee
voting clerk for said election shall be Dorothy Timmons.
4. That an absentee ballot board is hereby created to process absentee voting
results, and Jeanne Heath is hereby appointed the presiding judge of said board. The
presiding judge shall appoint at least two other members of the board.
5. That all resident, qualified electors of said City shall be entitled to vote at said
election.
6. That notice of said election shall be given by posting a substantial copy of this
Ordinance at the City Hall on the bulletin board used for posting notices of the meetings
of the City Council, and at three other places in said City, not less than 15 days prior to
the date set for said election; and a substantial copy of this Ordinance also shall be
published on the same day in each of two successive weeks in a newspaper of general
circulation published in said City, the date of the first publication to be not earlier than
the 30th day or later than the 14th day prior to the date set for said election.
7. That at said election the following PROPOSITIONS shall be submitted in
accordance with law:
PROPOSITION N0. 1
Shall the City Council of said City be authorized to issue the bonds of said
City, in one or more series or issues, in the aggregate principal amount of
$i,030,000, with the bonds of each such series or issue, respectively, to mature
serially within not to exceed 40 years from their date, and to be sold at such prices
and bear interest at such rates as shall be determined within the discretion of the
City Council, for the purpose of acquiring, constructing and improving permanent
public improvements for the City's parks, and shaI1 said City Council be author-
ized to levy and cause to be assessed and collected annual ad valorem taxes in an
amount sufficient to pay the annual interest on said bonds and provide a sinking
fund to pay said bonds at maturity?
PROPOSITION N0. 2
Shall the City Council of said City be authorized to issue the bonds of said
City, in one or more series or issues, in the aggregate principal amount of
$1,210,000, with the bonds of each such series or issue, respectively, to mature
serially within not to exceed 40 years from their date, and to be sold at such prices
and bear interest at such rates as shall be determined within the discretion of the
City Council, for the purpose of acquiring, constructing, improving and equipping
permanent public improvements for the City's parks, to-wit: construction of baseball
fields with lights, and shall said City Council be authorized to levy and cause to be
assessed and collected annual ad valorem taxes in an amount sufficient to pay the
annual interest on said bonds and provide a sinking fund to pay said bonds at
maturity?
PROPOSITION NO. 3
Shall the City Council of said City be authorized to issue the bonds of said
City, in one or more series or issues, in the aggregate principal amount of
$1,750,000, with the bonds of each such series or issue, respectively, to mature
serially within not to exceed 40 years from their date, and to be sold at such prices
and bear interest at such rates as shall be determined within the discretion of the
City Council, for the purpose of constructing, improving and equipping a
permanent public improvement, to-wit: a natatorium to be constructed with Coppell
Independent School District, and shall said City Council be authorized to levy and
cause to be assessed and collected annual ad valorera taxes in an amount sufficient
to pay the annual interest on said bonds and provide a sinking fund to pay said
bonds at maturity?
PROPOSITION N0. 4
Shall the City Council of said City be authorized to issue the bonds of said
City, in one or more series or issues, in the aggregate principal amount of
$3,500,000, with the bonds of each such series or issue, respectively, to mature
serially within not to exceed 40 years from their date, and to be sold at such prices
and bear interest at such rates as shall be determined within the discretion of the
City Council, for the purpose of acquiring, constructing, improving, renovating and
equipping permanent public improvements, to-wit: new Fire Station and Police
Administration Building and renovation of existing Municipal Buildings, being the
old Fire Station, Service Center and Town Center, and shall said City Council be
authorized to levy and cause to be assessed and collected annual ad valorem taxes
in an amount sufficient to pay the annual interest on said bonds and provide a
sinking fund to pay said bonds at maturity?
PROPOSITION NO. 5
Shall the City Council of said City be authorized to issue the bonds of said
City, in one or more series or issues, in the aggregate principal amount of
$7,750,000, with the bonds of each such series or issue, respectively, to mature
serially within not to exceed 40 years from their date, and to be sold at such prices
and bear interest at such rates as shall be determined within the discretion of the
City Council, for the purpose of constructing, improving and equipping permanent
public improvements, to-wit: the City's streets and bridges together with the
acquisition and installation of street signalization and opticom equipment, and shall
said City Council be authorized to levy and cause to be assessed and collected
annual ad valorem taxes in an amount sufficient to pay the annual interest on said
bonds and provide a sinking fund to pay said bonds at maturity?
PROPOSITION N0. 6
Shall the City Council of said City be authorized to issue the bonds of said
City, in one or more series or issues, in the aggregate principal amount of
$800,000, with the bonds of each such series or issue, respectively, to mature
serially within not to exceed 40 years from their date, and to be sold at such prices
and bear interest at such rates as shall be determined within the discretion of the
City Council, for the purpose of acquiring, constructing and improving permanent
public improvements for the City's drainage, and shall said City Council be author-
ized to levy and cause to be assessed and collected annual ad valorera taxes in an
amount sufficient to pay the annual interest on said bonds and provide a sinking
fund to pay said bonds at maturity7
PROPOSITION N0. 7
Shall the City Council of said City be authorized to issue the bonds of said
City, in one or more series or issues, in the aggregate principal amount of
$1,400,000, with the bonds of each such series or issue, respectively, to mature
serially within not to exceed 40 years from their date, and to be sold at such prices
and bear interest at such rates as shall be determined within the discretion of the
City Council, for the purpose of acquiring, improving, and inEtalling municipal
equipment for a public purpose for the Police Department and Fire Department
for public safety, and shall said City Council be authorized to levy and cause to be
assessed and collected annual ad valorera taxes in an amount sufficient to pay the
annual interest on said bonds and provide a sinking fund to pay said bonds at
maturity?
PROPOSITION NO. 8
Shall the City Council of said City be authorized to issue the bonds of said
City, in one or more series or issues, in the aggregate principal amount of $80,000,
with the bonds of each such series or issue, respectively, to mature serially within
not to exceed 40 years from their date, and to be sold at such prices and bear
interest at such rates as shall be determined within the discretion of the City
Council, for the purpose of improving and remodeling permanent public
improvements to buildings in the old Town of Coppell, and shall said City Council
be authorized to levy and cause to be assessed and collected annual ad valorera
taxes in an amount sufficient to pay the annual interest on said bonds and provide
a sinking fund to pay said bonds at maturity?
PROPOSITION NO. 9
Shall the City Council of said City be authorized to issue the bonds of said
City, in one or more series or issues, in the aggregate principal amount of
$2,600,000, with the bonds of each such series or issue, respectively, to mature
serially within not to exceed 40 years from their date, and to be sold at such prices
and bear interest at such rates as shall be determined within the discretion of the
City Council, for the purpose of constructing, improving, and equipping the City's
municipal library, and shall said City Council be authorized to levy and cause to be
assessed and collected annual ad valorera taxes in an amount sufficient to pay the
annual interest on said bonds and provide a sinking fund to pay said bonds at
maturity?
8. That the official ballots for said election shall be prepared in accordance with
the Texas Election Code so as to permit the electors to vote "FOR" or "AGAINST' the
aforesaid PROPOSITIONS, with the ballots to contain such provisions, markings and
language as required by law, and with such PROPOSITIONS to be expressed substantially
as follows:
PROPOSITION NO. 1
FOR ) THE ISSUANCE OF $1,030,000 OF PARK
AGAINST ) IMPROVEMENT AND EQUIPMENT TAX BONDS
PROPOSITION NO. 2
FOR THE ISSUANCE OF $1,210,000 OF PARK
IMPROVEMENT AND EQUIPMENT
(BASEBALL FIELDS AND LIGHTING)
AGAINST TAX BONDS
PROPOSITION NO. 3
FOR THE ISSUANCE OF $1,750,000 OF NATATORIUM
AGAINST IMPROVEMENT TAX BONDS
PROPOSITION NO. 4
FOR THE ISSUANCE OF $3,500,000 OF FIRE STATION
AND POLICE ADMINISTRATION BUILDING AND
MUNICIPAL BUILDINGS IMPROVEMENT TAX
AGAINST BONDS
PROPOSITION NO. 5
FOR ) THE ISSUANCE OF $7,750,000 OF STREET
) AND BRIDGE IMPROVEMENT AND EQUIPMENT
AGAINST ) TAX BONDS
PROPOSITION NO. 6
FOR ) THE ISSUANCE OF $800,000 OF DRAINAGE
AGAINST ) IMPROVEMENT TAX BONDS
PROPOSITION NO. 7
FOR ) THE ISSUANCE OF $1,400,000 OF POLICE
) DEPARTMENT AND FIRE DEPARTMENT
AGAINST ) IMPROVEMENT AND EQUIPMENT TAX BONDS
PROPOSITION NO. 8
FOR ) THE ISSUANCE OF $80,000 OF OLD TOWN
AGAINST ) BUILDINGS IMPROVEMENT TAX BONDS
PROPOSITION NO. 9
FOR ) THE ISSUANCE OF $2,600,000 OF MUNICIPAL
AGAINST ) LIBRARY IMPROVEMENT TAX BONDS
9. That in all respects said election shall be conducted in accordance with the
Texas Election Code.
10. That the City will use any interest earned from the bond proceeds received
from the sale of the proposed bonds voted pursuant to this election ordinance for the
purposes for which the bonds were voted with any surplus monies to be used for any
other like purpose in keeping with the voted propositions subject to the existing arbitrage
requirements of the Tax Reform Act of 1986. It is anticipated that there will be a tax
rate increase for the purpose of paying the principal and interest on the bonds and to
create a sinking for their redemption. The tax incurred for the payment of the principal
and interest on the bonds at the time of issuance will not be anticipated to exceed 15
cents per $100 valuation on the City's tax rolls over the five year period beginning with
the issuance of the bonds. This test in no way limits the taxes levied for repayment of
debt service on the bonds once the bonds are outstanding.
PASSED, APPROVED AND EFFECTIVE
ATTEST: ~