ORDER NO. 12618
ORDER AUTHORIZING THE ISSUANCE OF $154,000
"KE RR COUNTY, TEXAS, CERTIFICATES OF
OBLIGATION, SERIES 1976,"
DATE D MARCH 1. 19 7 6
THE STATE OF TEXAS
COUNTY OF KERR
ON THIS, the 8th day of March, 1976, the Commissioners'
Court of Kerr County, Texas, convened in regular session at
the regular meeting place of said Court in the Courthouse at
Kerrville, Texas, the meeting being; open to the public and
notice of such meeting having been given in advance as pre-
scribed by Article 6252-17, Sect:ion 3A, V.A.T.C.S., with the
following members of the Court being present and in attendance,
t0 Wit
JULIUS R. NEUNHOFFER COUNTY JUDGE, Presiding, and
W. C. SCHWETHELM	)	COMMISSIONER,	Precinct	No.	1
CLINTON M. SALLEE	)	COMMISSIONER,	Precinct	No.	2
ADOLPH BARTEL	)	COMMISSIONER,	Precinct	No.	3
ROGER STONE	)	COMMISSIONER,	Precinct	No.	4
and with the following absent: NONE ,
constituting a quorum; and among other proceedings had were t e
following:
The Presiding Officer submitted to the Court the following
resolution and order:
WHEREAS, the Commissioners' Court of Kerr County, Texas,
has heretofore authorized and sold $860,000 "Kerr County, Texas,
General Obligation Bonds, Series 1976 ", to provide funds to
expand and improve Courthouse facilities in the County Court-
house and Jail Building, $760,000 of such bond proceeds to be
used to construct an Annex to the County Courthouse and Jail
Building and $100,000 of such bond funds to be used for improve-
ments to existing Courthouse facilities; and
WHEREAS, upon receipt of bids for the contract proposed
to be let by the County for the construction of the Annex to
the Courthouse and Jail Building, the County's Architect and
Engineer for the project have advised the Court that the lowest
and best bid for the contract was submitted by Waco Construction,
Incorporated, Waco, Texas, in the amount of $856,900; an d
WHEREAS, to meet the deficiency of $96,900 between the
amount of bond funds available ($760,000) for the aforemen-
tioned contract and the amount of the lowest and best bid re-
ceived ($856,900}, and to permit the awarding of such contract,
the Commiss`ioners' Court has determined that certificates of
obligation should be issued and sold for cash under the provi-
sions of Section 7(8) of The Certificate of Obligation Act of
the construction and financing of the Annex to the Courthouse
and Jail Building, the amount of such certificates to be is-
sued for such purposes being $57, 100; and
WHEREAS, notice of this Court's intention to issue certi-
ficates of obligation for the above described purposes in the
maximum principal amount of $250,000, has heretofore been
published in the Kerrville Mountain Sun, a newspaper of general
circulation in the County, on the 19th day of February, 1976,
and the 26th day of February , 19 76 , in the form and manner
prescribed by The Certificate of_ Obligation Act of 1971, as
amended ; an d
WHEREAS, no petition of any kind or character has been
presented or filed with the County Clerk, any member of this
Court or any other official of the County protesting the issu-
ance of said certificates of obligation; and
WHEREAS, this Court is now authorized and empowered to
proceed with the issuance and~sale of such certificates of
obligation in the total principal amount of $154,000 to provide
adequate funds to permit the awarding of the aforementioned
construction contract and to pay the said contracts for pro-
fessional services; therefore;
BE IT ORDERED, ADJUDGED AND DECREED BY THE COMMISSIONERS'
COURT OF KERR COUNTY, TEXAS:
SECTION l: That the recitals contained in the preamble
hereo are hereby found as a fact and incorporated herein and
adopted as a part of this order as though set forth at length
as a part of this Section.
SECTION 2: That to (i) permit the awardin of a contractual
obligation or the construction of public s-~ork the construction
of an Annex to the Kerr County Courthouse) and (ii) pay con-
tracts for personal or professional services of_ Architects,
Engineers, Attorneys and a Financial Advisor, there shall be
and there is hereby ordered to be issued under and by virtue
of the Constitution and laws of the State of Texas, particularly
The Certificate of Obligation Act of 1971, as amended, certifi-
cates of obligation of the County of Kerr, Texas, in the total
principal sum of ONE HUNDRED FIFTY-FOUR THOUSAND DOLLARS
($154,000), to be known as "KERR COUNTY, TEXAS, CERTIFICATES OF
OBLIGATION, SERIES 1976."
SECTION 3: That said certificates shall be numbered con-
secutively rom One (1) through Thirty-Four (34) , shall each
be in the denomination of Five Thousand Dollars ($5,000) except
certificates numbered One (1) through Four (4) which shall be
in the denomination of One Thousand Dollars ($1,000) each, shall
be dated March 1, 1976, and shall become due and payable serially
on August 1 in each of the years and bear interest at per annum
rates in accordance with the following schedule:
CERTIFICATE	NUMBERS				
(All	Inclusive)	MATURITY	AMOUNT	INTEREST	
1	to	4	1978	$ 4,000	4.00	
	5		1979	5,000	4.25	
	6		1980	5,000	4.35	
	7		1981	5,000	4.45	/o
	8		1982	5,000	4.55	/o
	9		1983	5,000	4.65	
	10		1984	5,000	4.75	
	11		1985	5,000		
	12		1986	5,000		
	13		19 8 7	5 , 000	~-fi	b/o
	14		1988	5,000		b/°
	15		1989	5,000		
	16		19 9 0	5, 0 0 0	-~4~5~	~/0
	17		19°1	5,000		/o
18	and	19	1992	10,000		/o
20	to	22	195 3	15 , 000		
23	to	26	1994	20, 000	~~-	-%
27	to	31	1995	25,000		/,
32	to	34	1996	15,000		/o
PROVIDED, HOWEVER, that Kerr County, Texas, reserves the right to
redeem the certificates of this series maturing on August 1,
1987, and subsequent, in whole or any part thereof, on February 1,
1986, or any interest payment date thereafter, at par and accrued
interest to the date of redemption; PROVIDED, FURTHER, that at
least thirty (30) days prior to a date any of~said certificates
are to be redeemed, notice of redemption signed by the County
Treasurer of said County (specifying the serial numbers and
amount of certificates to be redeemed) shall have been filed
with CHAS. SCHREINER BANK, Kerrville, Texas (the paying agent
named in each of said certificates); and if by the date so
fixed for redemption the County shall have made available
funds in anounts sufficient to pay the certificates to be re-
deemed and accrued interest thereon, any certificate or certifi-
cates not presented for redemption pursuant to such notice
shall cease to bear interest from and after the date so fixed
for redemption.
SECTION 4: That said certificates shall bear interest
from ante to maturity at the per annum rates shown above; such
interest to be evidenced by proper coupons attached to each of
said certificates, and said interest shall be payable on February 1,
1977, and semiannually thereafter on August 1 and February 1 in
each year.
SECTION 5: That the principal of and interest on said
certi~ates shall be payable in lawful money of the United
States of America, without exchange or collection charges to the
owner or holder, upon presentation and surrender of certificates
or proper coupons, at the CHAS. SCHREINER BANK, Kerrville, Texas.
SECTION 6: That the seal of the Commissioners' Court may
be impressed on each of said certificates or, in the alternative,
a facsimile of such seal may be printed on said certificates.
are required to be registered by the Comptroller of Public
Accounts of the State of Texas, only his signature (or that
of a deputy designated in writing to act for the Comptroller)
shall be required to be manually subscribed to such certificates
in connection with his registration certificate to appear there-
on, as hereinafter provided; all_ in accordance with the provi-
sions of Article 717j-1, V.A.T.C.S.
SECTION 7: That said certificates shall be substantially
in the ollowing form:
N0. UNITED STATES OF AMERICA $ ,000
STATE OF TEXAS
COUNTY OF KERR
KERR COUNTY, TEXAS, CERTIFICATE OF OBLIGATION,
SERIES 1976
KNOW ALL MEN BY THESE PRESENTS: That the COUNTY OF KERR,
a body corporate and politic of the State of Texas, FOR VALUE
RECEIVED, acknowledges itself indebted to and hereby promises
to pay to bearer, the sum of
THOUSAND DOLLARS
($ ,000), in lawful money of the United States of America, on
the 1st day of August, 19 with interest thereon from the date
hereof to maturity at the rate of
PER CENTUM ( %) per annum, payable on February 1, 1977,
and semiannua ly t ereafter on August 1 and February 1 in each
year, and interest falling due on or prior to maturity hereof
is payable only upon presentation and surrender of the interest
coupons hereto attached as they severally become due.
BOTH PRINCIPAL OF and interest on this certificate are
hereby made payable at the CHAS. SCHREINER BANK, Kerrville, Texas,
without exchange or collection charges to the owner or holder,
upon presentation and surrender of this certificate and the cou-
pons hereto attached, as they respectively mature, and for the
prompt payment of this certificate and the interest coupons
hereto attached, the full faith, credit and resources of KERR
COUNTY, TEXAS, are hereby irrevocably pledged.
THIS CERTIFICATE OF OBLIGATION is one of a series of Thirty-
four certificates numbered consecutively from One (1) through
Thirty-Four (34), each in denomination of Five Thousand Dollars
($5,000) except certificates numbered One (1) through Four (4)
which are in the denomination of One Thousand Dollars ($1,000)
each, aggregating in principal amount ONE HUNDRED FIFTY-FOUR
THOUSAND DOLLARS ($154,000) issued to provide funds to (i) permit
the awarding of a contractual obligation for the construction
of public work (the construction of an Annex to the Kerr County
Courthouse) and (ii) pay contracts for personal or professional
services of Architects, Engineers, Attorneys and a Financial
Advisor in accordance with authority conferred by the Constitu-
after, at par and accrued interest to the date of redemption;
PROVIDED, HOWEVER, that at least thirty (30) days prior to a
date any of said certificates are to be redeemed, notice of
redemption signed by the County Treasurer of said County (speci-
fying the serial numbers and amount of certificates to be re-
deemed) shall have been filed with the CHAS. SCHREINER BANK,
Kerrville, Texas, and if by the date so fixed for redemption
the County shall have made avail_ab le funds in amounts sufficient
to pay the certificates to be redeemed and accrued interest
thereon, any certificate or certificates not presented for re-
demption pursuant to such notice shall cease to bear interest
from and after the date so fixed for redemption.
AND IT IS HEREBY CERTIFIED„ RECITED AND REPRESENTED that
the issuance of this certificate, and the series of which it
is apart, is duly authorized by law; that all acts, conditions
and things required to be done precedent to and in the issuance
of this series of certificates, and of this certificate, have
been properly done and performed and have happened in regular
and due time, form and manner as required by law; that a direct
annual ad valorem tax has been levied upon all taxable property
in said County sufficient to pay the interest on this certificate
and the principal hereof at maturity; and that the total indebted-
ness of said County, including this certificate and the series
of which it is apart, does not exceed any constitutional or
statutory limitation.
IN TESTIMONY WHEREOF, the Commissioners` Court of Kerr
County, Texas, in accordance with the provisions of Article 717j-1,
V.A.T.C.S., has caused the seal of said Court to be impressed or
a facsimile thereof to be printed hereon, and this certificate
to be executed by imprinting the facsimile signature of the
County Judge, countersigned by imprinting the facsimile signa-
ture of the County Clerk, and registered by the County Treasurer,
whose facsimile signature is imprinted hereon, and the interest
coupons hereto attached to be executed by the imprinted facsimile
signatures of the County Judge and County Clerk; the date of
this certificate, in conformity with the order above referred to,
being the 1st day of March, 1976.
County Ju ge, Kerr County, Texas
COUNTERSIGNED:
County Cler Kerr County, Texas
REGISTERED:

SECTION 8: That the form of interest coupons attached to
each of said certificates shall be substantially as follows:
N0. ON THE 1ST DAY OF , $
19 ,
;(unless the certificate to which this coupon pertains has been
properly called for redemption in accordance with its terms),
the COUNTY OF KERR, a body corporate and politic of the State
of Texas, hereby promises to pay to bearer in lawful money of
the United States of America, without exchange or collection
charges to the owner or holder hereof, at the CHAS. SCHREINER
BANK, Kerrville, Texas, the sum of
DOLLARS
($ ), said sum being months' interest due that day
on KERR COUNTY, TEXAS, CERTIFICATE OF OBLIGATION, SERIES 1976,"
dated March 1, 1976. Certificate No.
County C erk County Judge
SECTION 9: That the following certificate shall be printed
on the ac o each certificate:
OFFICE OF COMPTROLLER §
§ REGISTER N0.
STATE OF TEXAS §
I HEREBY CERTIFY that there is on file and of record in my
office a certificate of the Attorney General of the State of
Texas to the effect that this certificate has been examined by
him as required by law, and that he finds that it has been issued
in conformity with the Constitution and laws of the State of
Texas, and that it is a valid and binding obligation upon Kerr
County, Texas, and that said certificate has this day been
registered by me .
WITNESS MY HAND AND SEAL OF OFFICE at Austin, Texas,
Comptrol er o Public Accounts o
the State of Texas
SECTION 10: That to provide for the payment of the debt
service requirements on the said certificates, being (i} the
interest on said certificates and (ii) a sinking fund for their
redemption at maturity or a sinking fund of 2% (whichever amount
shall be greater), there shall be and there is hereby levied for
the current year and each succeeding year thereafter while said
certificates or interest thereon shall remain outstanding and
unpaid, a sufficient tax on each one hundred dollars' valuation
of taxable property in said County, adequate to pay such debt
service requirements, full allowance being made for delinquen-
cies and costs of collection; said tax shall be assessed and
collected each year and applied to the payment of the said debt
service requirements and the same shall not be diverted to any
other purpose. The taxes so levied shall be paid into a fund
known as "SPECIAL KERR COUNTY, TEXAS, CERTIFICATE OF OBLIGATION
FUND, SERIES 1976," which is hereby established for the payment
of the obligations herein authorized. The Commissioners' Court
hereby declares its purpose and intent to provide and levy a
tax legally and fully sufficient for such certificates, it having
been determined that the existing and available taxing authority
of the County for such purpose is adequate to permit a legally
sufficient tax in consideration of all other outstanding indebted-
ness.
SECTION 11: That the County hereby covenants that the pro-
ceeds rom t e sale of said certificates will be used as soon
as practicable for the purpose for which said certificates are
issued; that such proceeds will not be invested in any securi-
ties or obligations except for the temporary period pending such
use; and that such proceeds will not be used directly or indirect-
ly so as to cause all or any part of said certificates to be or
become "arbitrage" obligations within the meaning of Section
103(d) of the Internal Revenue Code of 1954, as amended, or any
regulations or rulings prescribed or made pursuant thereto.
SECTION 12: That the sale of the certificates of obligation
herein aut orized to CHAS. SCHREINER BANK, Kerrville, Texas,
at the price of par and accrued interest to date of delivery,
is hereby confirmed. Delivery of said certificates shall be
made to said purchasers as soon as may he after the adoption of
this order, upon payment therefor in accordance with the terms
of sale.
SECTION 13: That the proceeds to be realized from the
sale o t e certificates herein authorized shall be expended
and the same are hereby budgeted and appropriated for the pur-
pose of paying contractual obligations incurred by the County
in connection with the construction and financing of improvements
and an addition to the Kerr County Courthouse and Jail Building,
such contractual obligations being more fully identified as fol-
lows:
Contract
Contractor
Contract Amount
Attorneys Dumas, Huguenin, Boothman
and Morrow, Dallas, Texas
Financial Advisor M. E. Allison & Co., Inc.
San Antonio, Texas
Engineering & Lester B. Whitton and
Architectual A. B. Swank Association
--r~*-r„~+-, ~n ~f wa~~ Construction, Incor-
$ 3,000
12,000
42,718
856,900
SECTION 14: CUSIP numbers may be printed on the certi-
ficates herein authorized. It is expressly provided, however,
that the presence or absence of CUSIP numbers on the certifi-
cates shall be of no significance or effect as regards the
legality thereof and neither the County nor attorneys approving
said certificates as to legality are to be held responsible for
CUSIP numbers incorrectly printed on the certificates.
SECTION 15: That the County Judge of Kerr County, Texas,
shall e and he is hereby authorized to take and have charge
of all necessary records pending investigation by the Attorney
General of the State of Texas, and shall take and have charge
and control of the certificates herein authorized pending
their approval by the Attorney General and their registration
by the Comptroller of Public Accounts of the State of Texas.

`~
<. .
The above order having been read in full, it was moved
by Commissioner Bartel and seconded by Commissioner
Sallee t at t e same be passed and adopted.
Thereupon, the question being called for, the County Judge put
the motion to a vote of the members of the Commissioners'
Court, and the motion carried by the following vote: County
Judge Neunhoffer and Commissioners Schwethelm, Sallee, Bartel
and Stone voted "AYE"; and none voted "NO".
The County Judge declared the motion carried and the order
passed and the Clerk was instructed to record same in the proper
minutes of the Court.
PASSED AND APPROVED, this the 8th day of March, 1976.
r•O
i
,~of unty Judge , Kerr County ; .~~xas
/ r / ,
ATTEST : ~ ~ t'i
,~ ,, ~j
County Cler Kerr County, Texas
(Comm.Crt.Seal)