by Commissioner Schwethelm, the Court unanimously approved that the County Clerk and County Treasurer be, and are hereby directed to apportion the sum of $15,000.00 from the General Road and Bridge Fund to the respective Commissioners' Precincts: ~+- Road & Bridge No. 1 -------- $4,500.00 Road & Bridge No. 2 -------- $3,000.00 Road & Bridge No. 3 -------- $3,000.00 Road & Bridge No. 4 -------- $4,500.00 o-o-o-o-o-o-o-o-o-o NO. 12599 MINUTES READ AND APPROVED On this the 9th day of February 1976, upon motion made by Commissioner Bartel, seconded by Commissioner Schwethelm, the Court unanimously approved the Minutes oŁ the Commissioners' Court of Kerr County, Texas, from pages 46 thru 56, Volume O. o-o-o-o-o-o-o-o-o-o NO. 12600 APPOIP7TDSENT OF GUY L. SMITH AS PRESIDING ELECTION JUDGE OF THE ABSENTEE CANVASSING BOARD On this the 9th day of February 1976, upon motion made by Commissioner Stone, seconded by Commissioner Bartel, the Court L. Smith be appointed Presiding Election Judge of the Absentee vacancy, due to the resignation ~ III, of R. L. Schmerbeck/as Presidi. COURT RECESSED FEBRU~ A. M. A motion was made by by Commissioner Stone, that the regular February Term of Commi: iursday, February 12th, 1976, at 10:00 o'clock A. M. Said motic the Court. o-o-o-o-o-o-o-o-o-o THE REGULAR FEBRUARY TERM OF COMMISSIONERS' COURT RE-CONVENED February 12, 1976, with all members present at 10:00 o'clock A. M. Central Standard Time. The taking of bids for selling Kerr County General Obligation Bonds, Series 1976, in the amount of $860,000.00 was declared closed at this time. Thereupon eleven sealed bids were opened and tabulated, as per exhibit on file in the papers of the Court. The following bid of HORNBLOWER AND WEEKS, HEMPHILL, NOYES, INC. was deemed to be the best and most favorable bid: OFFICIAL BID FORM HONORABLE COUNTY JUDGE AND COMMISSIONERS' COURT KERR COUNTY COURTHOUSE KERRVILLE, TEXAS 78028 Gentlemen: Reference is made to your "NOTICE OF SALE" and covering $860,000 KERR COUNTY, TEXAS, GENERAL part thereof. For your legally issued bonds, as described in accrued interest from date of issue to date of for bonds bearing interest as follows: "OFFICIAL STATEMENT" dated January 27, 1976, OBLIGATION BONDS, SERIES 1976, which is made a said "Notice of Sale", we will pay par plus delivery to us, plus a cash premium of $ 0 Bonds maturing August 1, 1978, through August 1, 1987, inclusive 6.00 y, Bonds maturing August 1, 1988, through August 1, 1991, inclusive 5.50 % Bonds maturing August 1, 1992, through August 1, 1993, inclusive 5.80 % Bonds maturing August 1, 1994, through August 1, 1997, inclusive 6.00 % Bonds maturing August 1, 1998, inclusive 5,00 Bonds maturing August 1, 19_, through August 1, 19 _ , inclusive % Attached hereto is Cashier's Check of the American National Bank Bank, Austin, Texas, in the amount of $17,200.00 which represents our good faith deposit, which is submitted in accordance with the terms set forth in the "Notice of Sale". We agree to accept delivery of and make payment for the bonds at the City National Bank, Austin, Texas, when presented for delivery, pursuant to the terms set forth in the "Official Notice of Sale". Respectfully submitted: HORNBLOWER AND WEEKS, HEMPHILL, NOYES, INC. By DRMON P. SMITH by /s/ Ted R. Burkhart Authorized Representative The above and foregoing bid is hereby in all things accepted by Order of the Commissioners' Court of Kerr County, Texas, in Session this, the 12 day of February, 1976. /s/ Julius R. Neunhoffer County Judge, Kerr County ATTEST: /s/ Emmie M. Muenker County Clerk, Kerr County (Commissioners' Court Seal) Please supply the following information which is not a part of this bid: Total Interest Cost $745,150.00 Less Cash Premium $ Net Interest Cost $745,150.00 Effective Rate of Interest 5.75405 % RW Bid forms as submitted by the other ten bidders were ordered filed in the papers of the Court, but not recorded. Thereupon the following order having been read aloud was ordered entered upon the Minutes of the Court:' NO. 12601 ORDER AUTHORIZING ISSUANCE OF $860,00 "KERB COUNTY, TEXAS, GENERAL OBLIGATION BONDS, SERIES 1976," DATED FEBRUARY 1, 1976 THE STATE OF TEXAS I COUNTY OF KERR I ON THIS, the 12th day of February, 1976, the Commissioners' Co~~rt of Kerr County, Texas, convened in regular session at the regular meeting place thereof in the Courthouse at Kerrville, Texas, the meeting being open to the public and notice of said meeting having been given as prescribed by Article 6252-17, Section 3A, V.A.T.C.S., the following members of the Court being present, to wit: JULIUS R. NEUNHOFFER COUNTY JUDGE, Presiding 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 when among other proceedings considered, the County Judge submitted to the Court the follow- ing order: WHEREAS, as a result of an election held in Kerr County, Texas, on the 6th day of August, 1975, the Commissioners' Court of Kerr County, Texas became authorized and empowered to issue bonds of said County for the following purposes: $860,000 for the construction of improvements and an addition to the existing County Courthouse and Jail Building (expand and improve Courthouse facilities); and $100,000 for the construction of improvements and an addition to the existing County Courthouse and Jail Building (provide new jail facilities); AND WHEREAS, this Court hereby finds and determines that all the bonds authorized for the construction of improvements and an addition to the existing County Courthouse and Jail Building (expand and improve Courthouse facilities) should now be issued and sold; therefore, BE IT ORDERED, ADJUDGED AND DECREED BY THE COMMISSIONERS' COURT OF KERR COUNTY, TEXAS: SECTION 1: That to provide funds for the construction of improvements and an addition to the existing County Courthouse and Jail Building (expand and improve Courthouse facilities), the Commissioners' Court of Kerr County, Texas, pursuant to authority conferred at the afore- s aid election, hereby authorizes to be issued and there shall be issued a series of bonds of said County to be known as "Kerr County, Texas, General Obligation Bonds, Series 1976," in the principal amount of Eight Hundred Sixty Thousand Dollars (5860,000), under and by virtue of the Constitution and laws of the State of Texas, particularly Article VIII, Section 9 of the Constitution and Chapter 2, Title 22, V.A.T.C.S. SECTION 2: That said bonds shall be numbered consecutively from One (1) through One Hundred Seventy-Tao (172), shall each be in the denomination of Five Thousand Dollars ($5,000), aggregating the principal sum of EIGHT HUNDRED SIXTY THOUSAND DOLLARS (5860,000); shall be dated February 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: BOND NUMBERS (All Inclusive) MATURITY AMOUNT INTEREST 1 to 3 1978 $15 000 6.00 % 4 to 7 1979 20,000 6.00 % 8 to 11 1980 20,000 6.00 % 12 to 15 1981 20,000 6.00 % 16 to 20 1982 25,000 6.00 % 21 to 25 1983 25,000 6.00 % 26 to 31 1984 30,000 6.00 % 32 to 37 1985 30,000 6.00 38 to 44 1986 35,000 6.00 % 45 to 51 1987 35,000 6.00 % 52 to 59 1988 40,000 5.50 % 60 to 67 1989 40,000 5.50 % 68 to 77 1990 50,000 5.50 78 to 87 1991 50,000 5.50 % 88 to 97 1992 50,000 5.80 % 98 to 107 1993 50,000 5,80 .. 108 to 117 1994 50,000 6.00 % 118 to 127 1995 50,000 6.00 % 128 to 140 1996 65,000 6.00 % 141 to 158 1997 90,000 6.00 % 159 to 172 1998 ?0,000 5.00 % PROVIDED, HOWEVER, that Kerr County, Texas, reserves the right to redeem the bonds of this series maturing on August 1, 1987, and subsequent, it 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 bonds are to be redeemed, notice of redemption signed by the County Treasurer of said County (specifying the serial numbers and amount of bonds to be redeemed) shall have been filed with CHAS. SCHREINER BANK, Kerrville, Texas (the paying agent named in each of said bonds); J and if by the date so fixed for redemption the County shall have made available funds in amounts sufficient to pay the bonds to be redeemed and accrued interest thereon, any bond or bonds not presented Łor redemption pursuant to such notice shall cease to bear interest from and after the date so fixed for redemption. SECTION 4: That said bonds shall bear interest from date to maturity at the per annum rates shown above; such interest to be evidenced by proper coupons attached to each of said bonds, 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 bonds 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 bonds 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 bonds or, in the alternative, a facsimile of such seal may be printed on said bonds. The bonds may be executed by the imprinted Facsimile signature of the County Judge, countersigned by the imprinted facsimile signature of the County Clerk and registered by the County Treasurer, whose facsimile signature may be imprinted thereon, and the interest coupons attached to said bonds may be executed by the imprinted facsimile signatures of the County Judge and County Clerk. Execution in such manner shall have the same effect as if such bonds and coupons had been signed by the County Judge, County Clerk and County Treasurer in person by their manual signatures. Inasmuch as such bonds 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 bonds in connection with his registration certificate to appear thereon, as hereinafter provided; all in accordance with the provisions of Article 717j-1, V.A.T.C.S. SECTION 7: That said bonds shall be substantially in the following form: NO. UNITED STATES OF AMERICA $5,000 STATE OF TEXAS COUNTY OF KERR KERR COUNTY, TEXAS, GENERAL OBLIGATION BOND, SERIES 1976 KNOW ALL MEN BY THESE FRESENTS: That the COUNTY OF KERB, 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 FIVE THOUSANll DOLLARS (55,000), in lawful money of the United States of America, on the 1st day of August, 19_, c~~ith interest thereon from the date hereof to maturity at the rate of PER CENTUM ( %) per annum, payable on February 1, 1977, and semiannually thereafter 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 bond 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 bond and the coupons hereto attached, as they respectively mature, and for the prompt payment of this bond and the interest coupons hereto attached, the full faith, credit and resources of KERR COUNTY, TEXAS, are hereby irrevocably pledged. THIS BOND is one of a series of One Hundred Seventy-Two bonds numbered consecutivel,~ from One (1) through One Hundred Seventy-Two (172), each in denomination of Five Thousand Dollars ($5,000), aggregating in principal amount EIGHT HUNDRED SIXTY THOUSAND DOLLARS .... ($860,000) issued to provide funds for the construction of improvements and in addition to the County Courthouse and Jail Building (expand and improve Courthouse facilities), pursuant to authority conferred by the Constitution and laws of the State of Texas, particularly Article VIII, Section 9 of the Constitution and Chapter 2, Title 22, V.A.T.C.S., and pursuant to an order passed by the Commissioners' Court of Kerr County, Texas, which order is of record in the Minutes of said Court. AS SPECIFIED in the order hereinabove mentioned, the County reserves the right to redeem the bonds of this series maturing on August 1, 1987, and subsequent, in whole or any part thereof, on Febryary 1, 1986 or any interest payment date thereafter, 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 bonds are to be redeemed, notice of redemption signed by the County Treasurer of said County (specifying the serial numbers and amount of bonds to be redeemed) ..>hall have been filed with the CHAS. SCHREINER BANK, Kerrville, Texas, and if by the date so ,~,~ fixed for redemption the County shall have made available funds in amounts sufficient to pay the bonds to be redeemed and accrued interest thereon, any bond or bonds not presented for redemption 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 bond, and the series of which it is a part, is duly authorized by law and by authority expressly conferred at an election duly held for that purpose within said County; that all acts, condi- tions and things required to be done precedent to and in the issuance of this series oŁ bonds, and of this bond, 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 bond and the principal hereof at maturity; and that the total indebtedness of said County, including this kond and the series of which it is a part, does not exceed any constitutional or statutory limitation. IN 'PESTIMONY WHEREOF, the Commissioners' Court of Kerr County, Texas, in accordance caith 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 bond to be executed by im- printing the facsimile signature of the County Judge, countersigned by imprinting the facsimile signature of the County Clerk, and registered by the County Treasurer, whose facsimile signa- ture 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 bond, in conformity with the order above referred to, being the 1st day of February, 1976. County Judge, Kerr County, Texas COUNTERSIGNED: County Clerk, Kerr County, Texas REGISTERED: County Treasurer, Kerr County, Texas SECTION 8: That the form of interest coupons attached to each of said bonds shall be substantially as follows: NO. ON THE 1ST DAY OF , *(unless the bond 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 the 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 DOLLRS (S ), said sum being months' interest due that day on "KERR COUNTY, TEXAS, GENERAL OBLIGATION BOND, SERIES 1976," dated February 1, 1976. Bond No. County Clerk County Judge SECTION 9: That the follo~,~ing certificate shall be printed on the back of each bond: OFFICE OF COMPTROLLER T STATE OF TEXAS I REGISTER NO. 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 bond has been examined by him as required by law, and that he finds that it has been issued in conformity with the Constitu- tion and laws of the State of Texas, and that it is a valid and binding obligation upon Kerr County, Texas, and that said bond has this day been registered by me. WITNESS MY HAND AND SEAL OF OFFICE at Austin, Texas, Comptroller of Public Accounts oŁ the State of Texas *NOTE TO PRINTER: The expression in parentheses to he included only in coupons maturing August 1, 1986, and subsequent, pertaining to optional bonds maturing in the years 1987 through 1998. SECTION 10: That to provide for the payment of the debt service requirements on the said bonds, being (i) the interest on said bonds 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 bonds 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 delinquencies 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, GENERAL OBLIG."~TION BOND FUND, SERIES 1976," which is hereby established for the payment of the obliga- tions herein authorized. The Commissioners' Court hereby declares its purpose and intent to provide and levy a tax legally and fully sifficient for such bonds, it having been deter- mined 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- Hess. SECTION 11: That the sale of the bonds herein authorized to HORNBLOt~ER AND WEEKS, HEMPHILL, NOYES, INC., at the price of par and accrued interest to date of delivery, plus a premium of $ none is hereby confirmed. Delivery of the bonds shall be made to said pur- chasers as soon as may be after the adoption of this order, upon payment therefor in accord- ance with the terms of sale. SECTION 12: That the purchasers' obligation to accept delivery of the bonds herein authorized is subject to their being furnished a final opinion of Messrs. Dumas, Huguenin, Boothman and Morrow, Attorneys, Dallas, Texas, approving such bonds as to their validity, said opinion to be dated and delivered as of the date of delivery and payment for such bonds. Printing of a true and correct copy of said opinion on the reverse side of each of such bonds, with appropriate certificate pertaining thereto executed by facsimile signature of the County Clerk of Kerr County, Texas, is hereby approved and authorized. SECTION 13: That the County hereby covenants that the proceeds from the sale of said bonds will be used as soon as practicable for the purpose for which said bonds are issued; that such proceeds will not be invested in any securities or obligations except for the temporary period pending such use; and that such proceeds will not be used directly or in- directly so as to cause all or any part of said bonds to be or become "arbitrage bonds" within the meaning of Section 103(d) of the Internal k2evenue Code of 1954, as amended, or any regula- tions or rulings prescribed or made pursuant thereto. SECTION 14: That CUSIP numbers may be printed on the bonds herein authorized. It is expressly provided, however, that the presence or absence of CUSIP numbers on the bonds shall be of no significance or effect as regards the legality thereof and neither the County nor attorneys approving said bonds as to legality are to be held responsible for CUSIP numbers incorrectly printed on the bonds. SECTION 15: That the County Judge of Kerr County, Texas, shall be 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 bonds herein authorized pending their approval by the Attorney General and their registration bh the Comptroller of Public Accounts. The above order having been read in full, it was moved by Commissioner Stone and second- ed by Commissioner Bartel that the 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 Commis- sioners Schwethelm, Sallee, Bartel and Stone voting "AYE"; and none voting "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 12th day of February, 1976. /s/ Julius R. Neunhoffer County Judge, Kerr County, Texas ATTEST: /s/ Emmie M. Muenker County Clerk and Ex-Officio Clerk of the Con~:~~issioners' Court of Kerr County, Texas (Com. Crt. Seal) ~A o-o-o-o-o-o-o-o-o-o