OR 243-A-1 Amends Sec. 27 of 7/28/81 ord ORDINANCE NO. 243A1
AN ORDINANCE BY THE CITY COUNCIL OF THE CITY
OF COPPELL, TEXAS AMENDING SECTION 27 OF AN
ORDINANCE ADOPTED BY THE CITY COUNCIL ON
JULY 28, 1981 AUTHORIZING THE ISSUANCE OF
$1,200,000 CITY OF COPPELL, TEXAS WATER AND
SEWER SYSTEM REVENUE BONDS, SERIES 1981,
DATED AUGUST 1, 1981;
Whereas, on July 28, 1981, the City Council of the City of Coppell, Texas,
passed on ordinance bearing the following caption:
An Ordinance by the City Council of the City of Coppell,
Texas, Authorizing the Issuance of $1,200,000 "City of
Coppell, Texas, Water and Sewer'System Revenue Bonds,
Series 1981," dated August 1, 1981, for the Purpose of
Improving and Extending the Waterworks System in and
for Said City, as Authorized by the General Laws of the
State of Texas, Particularly V.A.C.S., Article 1111
et.seq., Prescribing the Form of the Bonds and the
Interest Coupons, Pledging the Net Revenues of the
City's Combined Waterworks and Sanitary Sewer System
to the Payment of the Principal of and Interest on Said
Bonds; Providing for the Sale and Delivery Thereof;
Enacting Provisions Incident and Related to the Subject
and Purposes of this Ordinance; and
Whereas, it has been and is hereby determined by the City Council that ·
Section 27 of the above referenced ordinance should be modified to provide for
the sale of the Bonds to the Texas Water Development Board at the lending rate
of the State of Texas in existence at the date of delivery of the Bonds;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF COPPELL, TEXAS:
Section 1. That Section 27 of the ordinance authorizing the issuance of
$1,200,000 City of Coppell, Texas, Water and Sewer System Revenue Bonds,
Series 1981, dated August 1, 1981, which ordinance is more clearly identified in
the preamble hereof, shall be and hereby is amended to read as follows:
"Section 27. Confirmation of Sale. The sale of the
bends herein authorized to the Texas Water Deve-
lopment Board, is herein confirmed at a price cal-
culated to achieve the lending rate of the State of
Texas applicable at the time of delivery of the
aforesaid bonds, plus accrued interest to the date of
delivery. Delivery of the bonds shall be made to said
purchasers as soon as may be practical after the
adoption of this ordinance, upon payment therefor in
accordance with the terms of sale."
Section 2. That except as herein modified, the provisions of the ordinance
authorizing the issuance of $1,200,000 City of Coppell, Texas, Water and Sewer
System Revenue. Bonds, Series 1981, dated August 1, 1981, are herein ratified
and confirmed.
Passed and approved this · Augu t, 981.
ATTEST:
~ty~'s
-2-