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COURT CONVEA'ED IN SPECIAL SESSION on July 19, 1963 at 9:30 o'clock A.M., with the following
officers present:
Julius R. Neunhoffer
W, C, Schwethelm
Prentice Witt
Adolph Bartel
Roger E, Stcne
County Judge
Commissioner Precinct 1
Commissioner Precinct 2
Commissioner Precinct 3
Commissioner Yrecinet 4
and the following orders were passed:
N0. 9484 DECLARATION OF INTENTION TO SUBMIT BOND ISSUE FOR VOTE
On this the 19th day of July 1963 a motion was made by Commissioner Stone that the
Commissioners' Court of Kerr County, Texas, declare its intention to submit the proposal to
issue approximately ~400,000.CO in bonds. Said proposal to be submitted and to be voted on at
an election called according to law, to be held November 9, 1963 and the bonds voted to be
used to carry out the plan for Courthouse and Jail Improvement as originally implemented by
the Commissioners' Court oŁ Kerr County, Texas in the year of 1958.
Said motion was seconded by Commissioner Bartel, with County Judge Neunhoffer, Commis -
sioners Bartel an9Stone voting "AYE" and Commissioners Schwethelm and Witt voting "NO", said
motion carrying by a majority vote.
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N0, 9485 AF'FROVAL OF FINANCIAL AGREEMENT WITH M. E. ALLISON & CO., INC. FOR COURTHOUSE
AND JAIL IMPROVEMENT
On this the 19th day of July 1963, a motion was made by Commissioner Bartel that a
financial agreement for tha proposed "~'4C0,000.00 Courthouse and Jail Improvement Agreement
be entered into by the Commissioners' Court of Kerr County and M, E, Allison & Co., Inc., as
per proposal submitted.
Said motion was seconded by Commissioner Stone, with County Judge Neunhoffer, Commissioners
Bartel and Stone voting "AYE" and Commissioners Schwethelm and Witt voting "NO", said motion
carrying by a majority vote.
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FINANCING AGREEMENT
(M.A.C. Form C-3, Rev. Standard Form of Agreement between Municipal Subdivision and Municipal
Bond Dealer Covering the Financing of Public Improvements through the Issuance and Sale of
Bonds, Form approved by the Municipal Advisory Council of Texas for the use of Members Only.)
Date July 19, 1963
To: THE HONORABLE COUNTY JUDGE & COMMISSIONERS' COURT
KERR COUNTY
KERRVILLE, TEXAS
Gentlemen:
1. We understarxithat the construction of certain public improvements is contemplated
by your County in connection with which it is expected bonds for the following purpose(s) will
be issued and sold in the approximate amount(s) indicated:
Courthouse construction, equipment, improvement and addition, The amount of the bond
issue to be approximately X400,000
2. By this proposal we offer our professional services and facilities to assist you
in the authorization, issuance, sale and delivery of the foregoing bonds, it being understood
that we are to be compensated in the following manner:
a. The sale and delivery to us of the bonds at a price of par per :1,000 bond plus
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accrued interest and at a rate or rates to be mutually acceptable to your Ccunty and ourselves,
,.-.
Or, if for any reason it shall not be possible to agree upon an effective rate of interest
which is mutually acceptable, then we are to be compensated by:
b, `rhe payment of a cash fee to be computed as follows:
The fee is to be the minimum fee as prescribed by the Municipal Advisory Council
of Texas as outlined in the booklet setting out the minimum fees and standards of performance,
a copy of such booklet is hereto attached.
3, The services which we agree to render under this contract shall consist the following:
a, To make a detailed study of the resources which may be pledged to secure payment
of the bonds and on the basis of such study to reccmmend for your approval a plan of financing
complete as to maturities, options oP prior payment and other relevant factors, al 1 of which
shall, in our opinion, be as advantageous as possible to your County consistent with a minimum
effective interest rate,
b. IInder the direction and ]a gal advice of a firm of recognized municipal bond attorneys
^ to be retained by you. and whose fees will be paid by us, we will assist you in and supervise
the steps necessary to be taken in the bond election, the legal issuance of the bonds and the
final delivery of the bonds to the purchaser. In this connection it is understood that you
have retained, or will retain, the firm of Dumas, Huguenin & Boothman, Kirby Building, Dallas,
Texas whose legal servicessnall also include rendition of an unqualified approving opinion
as to the legality of the bonds,
c. At such time as it shall be decided to order a bond election, we will assemble
and transmit to the bond attorneys such data as may be regaired in the preparation of the
necessary petitions, orders, resolutions, notices and certificates; and upon preparation there-
of, will submit such documents to your governing body for appropriate action,
d, We will procure and deliver to such official as you may designate such sets of
election supplies, including ballots (but excluding voting machines and voting booths) as are
required Łor each polling place,
e, We will place an order for the printing of the bonds on =ithographed borders and
„-,.
pay the cost of such printing,
f, 'rJe will pay the necessary expenses in obtaining the approving opinion of the
Attorney general of the State of Texas and the registration of the bonds by the Comptroller
of Public Account s, and the delivery of the bonds to the purchaser at a bank in Austin, Texas.
g, If the bonds are eligible under Texas law for purchase by the State Board of
Education, to assist in the preparation and timely submission of an Application for Waiver to
said Board,
!~. We agree to dL^^©ct and coordinate the entire program of financing herein contemplated
and to assume and pay all expenses above enumerated, It is specifically understood and agreed,
however, that this obligation on our part shall not cover payment oŁ any local election expenses
(except that we shall furnish election supplies to the extent hereinabove provided); nor shall
it cover the cost of publication of notices in newspapers, or other publication costs, or the
expenses of any litigation,
~I 5. It is contemplated by this contract that the determination of interest rate as provid-
ed by sub-paragraph 2a shall be accomplished at a time or times mutually convenient, and shall
be a^proached in absolute good faith on the part of all concerned, It is understood and agreed,
however, that in the interest of a consummation of the financing progra:, within a reasonable
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time that the 45th day following the date of the bond election is hereby designated as the dead-
line for reaching an agreement as to interest rate, andthat if, by such date, a mutually
acceptable effective rate of interest has not been agreed upon, then we shall proceed under
the alternative pro vide3 by sub-paragraph 2b hereof.
6, In the event it shall become necessary to proceed under sub-paragraph 2b hereof under
the circumstances outlined in paragraph 5, foregoing, then in addition to all of the services
hers in before enumerated it is understood an3 agreed that we will prepare an Official Notice
of Sale, a Bi3ding Form and an Official Statement, or Prospectus, containing financial data
and other information of the nature and to the extent ordinarily required by municipal bond
dealers in bidding on bonds of this type, all of w'ach we are to furnish in a sufficient number
of copies to permit mailing to a list of prospective bidders which we also agree to provide.
The fee due us under sub-paragraph 2b shall become due arxlpayable simultaneously with delivery
of the bonds to the purchaser,
7. In the event the bond election contemplated by this proposal should fail, then the
fee due us shall be none; however, should the same or similar proposition(s) again be sub-
matted at an election held within 18 months from date hereof, than at our option the agreement
covered by this contract shall apply to any bonds authorized at such election.
8, `T'his agreement shall be terminated by the delivery to the purchaser, whether ourselves
or others, of the bonds covered hereby, or by the lapse of lz months fro m date of your accept-
ance hereof, w.,.ichever shall first occur; however, if the bonds have not been so delivered
within the period specified, this agreement may be extended by mutual consent.
9. This proposal is submitted in triplicate originals, when accepted by you it will
constitute the entire agreement between your County and the undersigned for the purposes and
considerations he rain specified, Your acceptance will be indicated by the signature of your
County Judge attested by your County Clerk, on all copies and returning two executed copies
to us.
Respectfully submitted,
M. E. ALLISON & CO „ INC.
By /s/ Floyd R. Westerman
Authorized Representative
ACCEPTANCE
ACCEPTED pursuant to Order adopted by the Commissioners' Court of Kerr County on this the
19th day of July 1963,
/s/ Julius R, Neunhoffer
Title County Judge
ATTEST:
/s/ Emmie M, Muenker
Title County Clerk
(SEAL)
Filed 19 day of Julq A,D, 1963
/s/ Emmie M. Muenker
Clerk County Court, Kerr County, Texas
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N0, 9486 ArFROVAL OF CLAIM OF LA'n~1'ER'S COOF~RATIVE PUBLISHING COMPANY
This the 19th day of July 1963, upon motion of Commissioner Witt, seconded by Commissioner
Schwethelm, the C,~urt unanimously approved the claim of Lawyer's Cooperative Publishing