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0185 .... ORDINANCE ~ 8~ BY Tthg CITY COUNCIL OF T~LE CITY OF SOUTH- LA}0~, TEXAS, CANVASSING THE RETURNS AND DECLARING T~LE RESULTS OF A BOND ELECTION HELD IN THE CITY OF SOUTHLAKE, TEXAS, ON SEPTEMBER ll, 1971. WNJ~REAS, there came on to be considered the returns of a bond election duly and legally held in the City of Southlake, Texas, on September ll, 19Yl, at which election there was sub- mitred to all resident qualified electors of the City of South- lake, Texas, who own taxable property in said City and who have duly rendered the same for taxation, and to all other resident qualified electors of said City, voting separatelyj for their action thereupon, the following Proposition, to-wit: PROPOSITION "Shall the City Council of the City of SouShlske, Texas, be authorized to issue Bonds of said City in the principal amount of THREE HUNDRED THOUSAND DOLLARS ($300,000), for the purpose of constructing permanent improvements and extensions to the Waterworks System of said City; said Bonds to mature serially, or otherwise as may be determined by the City Council of said City; the maxlmum maturity being not more than thirty (30) years from their date, and any issue or series of said Bonds to bear interest per annum (payable annually or semi-annually) at any rate or rates to be determined within the discretion of the City Council of said City, provided that such rate or rates shall not exceed the maximum rate per annum permitted by law at the tlme of the issuance of any issue or series of sa id Bonds; and that the City Council of said City be authorized to levy an annual ad valorem tax on all taxable property in said City sufficient to pay the interest on said Bonds and to create a sinking fund sufficient to pay the principal thereof as the same matures, as authorized by the Con~ stitution and laws of the State of Texas?" -3- and WHERF~S, this City Council has diligently inquired into the poll lists and the official election returns which were duly and lawfully ffmde to this City Council by the Judges and Clerks holding and conducting said election, and this City Coun- cil hereby affirmatively finds that separate ballot boxes, stub boxes, poll lists, tally lists and returns were kept for voters who were resident qualified electors who owned taxable property in said District which had been duly rendered for taxation and that separate ballot boxes, stub boxes, poll lists, tally lists and returns were kept for voters who were otherwise resident qual- ified electors but who did not own taxable property du~y rendered for taxation; and WHEREAS, from said returns, this City Council hereby' affirmatively finds that there were cast in said election by those voters who were resident qualified electors of said City, who owned taxable property in said City and who had duly rendered the same for taxation, voting separately on the Proposition, a total of 107 votes, of which number there were cast FOR and AGAINST said ~roposi- tion as follows, to-wit: FOR: The issuance of bonds and levy of taxes as submitted in the Proposition AGAINST:The issuance of bonds and levy of taxes as submitted in the Proposition and 66 votes 41 votes WP~EREAS, from said returns, this City Council hereby afflNnatively finds that there were cast in said election by those voters who were otherwise resident qualified electors of said City, that is, by those persons who were resident qualified electors of said City but who did not meat the requirement of owning taxable property in said City which had been duly rendered for taxation, voting separately on the Proposition, a total of ~07 votes, of whlch number there were cast FOR and AGAINST said Proposition as follows, to-wit: -4 - and FOR: The issuance of Bonds and levy of taxes as submitted in the Proposition 66 votes AGAINST: The issuance of bonds and levy of taxes as submitted in the Proposition 4~ votes WHEP~EAS, from the above tabulations and findings, this City Council further afflrnmtively finds that there were cast in said election by both classes of voters voting in said election on the Proposition, in the aggregate, a total of 107 votes, all of which were votes hereby found to be cast by persons who were quali- fied resident electors of said City of which said number there were cast FOB and AGAINST said Proposition, submitted as follows, to-wit: FOR: The issuance of bonds and levy of taxes as submitted in the Proposition ~ votes AGAINST: The issuance of bonds and levy of taxes as submitted in the Proposition Ill votes NOW, TNEREFORE, IT IS, ACCORDINGLY, FOUND, DECLARED AND BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SOUTHLAKE, TEXAS: I That a majority of the resident qualified electors of the City of Southlake, Texas, who owned taxable property in said City and who b~d duly rendered the same for taxation, voting in said election, having voted FOR the authorization and issuance of said $300,000 of bonds and the levy of the tax in payment thereof, as submitted in the Proposition, and that a majority of all quali- fied electors voting in said election, that is, in the aggregate, both those persons who were resident qualified electors of said City, who owned taxable property in said City and who had duly rendered the same for taxation, and those persons who were other- wise resident qualified electors of said City, voting in said elee- rich, having voted FOR the authorization and issuance of said $300,000 of bonds and the levy of the tax in p~yment thereof, as submitted in the Proposition, the City Council hereby determines -5- that said Proposition carried and that it is accordingly authorized to issue and sell said bonds in accordance wlth the authority granted in said Proposition and with law. Mayor~ City of Southlake, Texas ATTEST: City Secretary, City of South- lake, Texas (SEAL OF CITY) =6 - TH~ STATE OF TEXAS COUN~Y OF TARRANT CITY OF SOUTHLAK~ The City Council of the City of Southlake, Texas, sonvened in special session at 8. o'clock, p_. M., on the l~th day of Seotembe~ , 19?l, at the City Hall within said City, which, meeting was at all times open to the publis, with the following members of said City Council being present, namely: Wade Booker W. O. Nunn R. D. Drummond Thurman Hearn Ralph Folson, Jr. Aliceanne Wallace Mayor Councilman Councilman Councilman Councilman and City Secretary and with the following members being absent: said meeting: A written Ordinance canvassing ~he returns and de- claring fha results of a bond election held September 11, 1971, was duly introduced for the consideration of said Council and read in full. It was then duly moved and seconded, that said ordinance be adopted; and, after due dis~ussion, said motion, carrying with it the adoption of said ordinance, prevailed and carried by the following vote: AYES: All members of said City Council NOES: None.