1975B6- GENERAL OBLIGATION BONDS
THE STATE OF TEXAS
x
COUNTY OF GUADALUPE
x
CITY OF SCHERTZ
I
on this, the 12th day of March, 1975, at 7:00 o'clock
P.M., the City Council of the City of Schertz, Texas, convened
for a special meeting in the Municipal Building of said City, which
meeting was at all times open to the public, and the roll was called
of the duly constituted officers and members of said City council,
namely:
ROBERT C. BUEKER
MRS. NELL G. FUNK
ROBERT E. SCHWARTZ
DONALD J. SEEBA
MRS. BOBBIE L. KOCH
TOM KOOLE
MAYOR
COUNCILWOMAN
COUNCILMAN
COUNCILMAN
COUNCILWOMAN
COUNCILMAN
AND
DENNY ARNOLD
MRS. JUNE G. KRAUSE
CITY MANAGER
CITY SECRETARY
There being a quorum present, the meeting was called
to order by the Mayor, and among other proceedings had were the
following:
The Mayor introduced the following captioned ordinance
wh~ch wa~ read in full by the City Secretary. Councilmember
i:&/li:\:Z- t", \[liLM -zL i1:,- moved that said ordinance be cons ide red
by the Council as ,a!. emerge.nct measure. Said motion was seconded
by Councilmember d-:~/c) JiLL ( & \ j" Pi' L' '/. ; whereupon said motion
was fully discussed and cQfisidered. The Mayor put the motion to
consider said motion as an emergency measure to the members of
the Council and said motion was approved and adopted by the fol-
lowing vote:
AYES:
All members of said City Council
shown present above voted "AYE II
NOES:
None.
The Mayor then introduced the hereinafter set forth or-
dinance asp1'. emer;!enc;y meas'11.~_e. Thereupon it was moved by Coun-
c,i}-member l\;j,~, l, 0: ~7iI,j /'cil t,) and seconded by Councilmember
'/)>,_0 Y;//I"i,h'-'i'Jpi that said'brdinance be finally passed and adop-
ted. The Mayor put the motion to a vote of the members of the
Council and the ordnance was finally passed and adopted by the
following vote:
AYES:
All members of said City Council
shown present above voted I'AYE"
NOES:
None.
AN ORDINANCE
BY THE CITY COUNCIL OF THE CITY OF SCHERTZ, TEXAS, AU-
THORIZING THE ISSUANCE OF $235,000 OF CITY OF SCHERTZ,
TEXAS, GENERAL OBLIGATION BONDS, SERIES 1975, AND LEVY-
ING THE NECESSARY TAX SUFFICIENT TO PAY THE INTEREST
THEREON AS THE SAME BECOMES DUE AND TO CREATE THE NECES-
SARY AND SUFFICIENT SINKING FUND TO PAY THE PRINCIPAL
THEREOF AS REQUIRED BY LAW, $25,000 OF SAID BONDS TO
BE ISSUED FOR THE PURPOSE OF CONSTRUCTING STREET IM-
PROVEMENTS IN SAID CITY, $85,000 OF SAID BONDS TO BE
ISSUED FOR THE PURPOSE OF CONSTRUCTING DRAINAGE IM-
PROVEMENTS FOR SAID CITY, AND $125,000 OF SAID BONDS
TO BE ISSUED FOR THE PURPOSE OF CONSTRUCTING PARK IM-
PROVEMENTS IN SAID CITY; SAID BONDS HAVING BEEN AUTHO-
RIZED AT ELECTIONS HELD IN SAID CITY ON THE 30TH DAY
OF OCTOBER, 1971, AND ON THE 27TH DAY OF JULY, 1974;
PRESCRIBING THE MATURITIES OF SAID BONDS AND THE IN-
TEREST RATES; PRESCRIBING THE FORM OF SAID BONDS AND
THE INTEREST COUPONS; CONFIRMING THE SALE OF SAID BONDS;
DECLARING AN EMERGENCY; AND ENACTING OTHER PROVISIONS
INCIDENT AND RELATING TO THE SUBJECT AND PURPOSE OF THIS
ORDINANCE.
WHEREAS, heretofore on the 30th day of October, 1971,
an election was duly and properly held in the City of Schertz,
Texas, at which election the following propositions, among others,
were submitted to the resident qualified electors of said City
who owned taxable property therein and who had duly rendered the
same for taxation and to all other resident qualified electors
of said City, said propositions being as follows, to-wit:
PROPOSITION~~;nER 3
"SHAL:.. the City Cauncil of the City of Schertz,
Texas, be <ll:tharized to. issue EIGHTY-FIVE THOUSAf-,'J)
D}LLARS ($85,000) general abligation bonds af said
City, for the purpose of constructing, enlarging,
extending and installing storm sewers, drains and
ather improvements incidental thereto in and for
said City; said bonds to mature serially over a
period of years not to exceed FORTY (40) years from
their date, to. be issued and said at ,any price or
prices and to bear interest at any rate ar rates as
shall be, determined within the discretion af the City
Council at the time of issuance; ,and to pravide far
the payment of principal of and interest on said bands
by levying a tax sufficient to pay the annual interest
and'to create a sinking fund sufficient to. redeem said
bands as they became due?"
PROPOSITION ~~~3ER 4
"SHALL"the City Council of the City af Schertz,
Texas, be au"tharized to issue J2!m Im:'S:'-!J S7r~
~'OU:::':'.:::l DOLLA.RS ($ 175,C:0 ) general abligat:i:on
bonds af said City far the purpose of canstructing
street improvements in and fqr said City; said bands
to mature serially aver a periad af years not to exceed
FORTY (40) years from their date, to be issued and sold
at any price ar prices and to. bear interest at any rate
or rates as shall be determined within the discretion
of the City Council at the time of issuance; aGd to
pravide far the payment af principal of and interest
an said bonds by levying a tax sufficient to. pay the
annual interest and to create a sinking fund suffi-
cient to redeem said bands as they became due?"
WHEREAS, heretofore on the 27th day of July, 1974, an
election was duly and legally held in the City of Schertz, Texas,
at which election the following proposition, among others, was
submitted to the resident qualified electors of said City who
owned taxable property therein and who had duly rendered the same
for taxation and to all other resident qualified electors of said
City, said proposition being as follows, to-wit:
PROPOSITION NO. 3
"Shall the City Council of the City of Schertz, Texas,
be authorized to issue bonds of said City in the prin-
cipal amount of ONE HUNDRED TWENTY-FIVE THOUSAND DOLLARS
($125,000), for the purpose of constructing permanent
improvements to lands and buildings for park purposes;
said bonds to mature serially or otherwise, as may be
determined by the City Council of said City, the maximum
maturity being not more than forty (40) years from their
date; and any issue or series of said bonds to bear in-
terest 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 authorized by law at the time of the issuance of
any issue or series of said bonds; and shall the City
Council 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 pr~ncipal thereof as the
same matures as authorized by the Constitution and
laws of the State of Texas?"
WHEREAS, the returns of said elections were duly certi-
fied and returned to the City Council of said City by the judges
and clerks holding said elections; and
WHEREAS, the returns of said elections were canvassed
by the City Council of said City, and said City Council did af-
firmatively find that a majority of the resident qualified elec-
tors of said City who owned taxable property therein and who had
duly rendered the same for taxation had cast their votes "FOR" said
propositions, and that a majority of all other resident qualified
electors of said City had cast their votes "FOR" said propositions,
the City Council did affirmatively find that said propositions
were sustained and that the City Council of said City was accord-
ingly authorized to issue the bonds pursuant to the authority
granted in said propositions; and
WHEREAS, heretofore by ordinance duly passed and approved
G'
on the /0 day of fJiVU/lU-r ' 19:]:b, the City council of said
City authorized the issuance of $J~iJ,i?~) of general obligation
I ./ ^
bonds, being the first installment of bonds in the amount of $ 7~,OOt}
authorized at the election held on october 30, 1971,'
for street improvements; and
WHEREAS, this City Council now deems it advisable and
to the best interests of said City to authorize the issuance of
$235,000 of general obligation bonds of said City as authorized
in the aforesaid propositions, of which amount $25,000 will be
used to construct street improvements in said City (said amount
being the final installment of bonds authorized at the election
held on october 30, 1971, for street improvements); $85,000 will
be used to construct drainage improvements for said City; and,
$125,000 will be used to construct park improvments in said City;
NOW, THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SCHERTZ, TEXAS:
I
That the bonds of said City to be known as "CITY OF
SCHERTZ, TEXAS, GENERAL OBLIGATION BONDS, SERIES 1975," shall be
issued under and by virtue of the Constitution and laws of the
State of Texas in the total principal amount of TWO HUNDRED THIRTY-
FIVE THOUSAND DOLLARS ($235,000), of which the sum of $25,000 will
be used for the purpose of constructing certain street improvements
in said City, $85,000 will be used for the purpose of constructing
drainage improvements in said City, and the sum of $125,000 will
be used for the purpose of constructing park improvements in said
City.
II
That said bonds shall be numbered consecutively from
one (1) to Forty-seven (47), both inclusive, and shall be in the
denomination of $5,000 each, aggregating the principal sum of
TWO HUNDRED THIRTY-FIVE THOUSAND DOLLARS ($235,000).
III
That said bonds shall be dated March 1, 1975, and shall
become due and payable serially as follows:
BOND NOS.
(Both Inc .) DATE OF MATURITY AMOUNT
1 September 1, 1978 $ 5,000
2 September 1, 1979 5,000
3 September 1, 1980 5,000
4 September 1, 1981 5,000
5 September 1, 1982 5,000
6 September 1, 1983 5,000
7 September 1, 1984 5,000
8 September 1 , 1985 5,000
9 September 1, 1986 5,000
10 September 1, 1987 5,000
11 September 1, 1988 5,000
12 September 1, 1989 5,000
13 September 1, 1990 5,000
14 September 1, 1991 5,000
15 September 1 , 1992 5,000
16 - 17 September 1, 1993 10,000
18 - 19 September 1, 1994 10,000
20 - 21 September 1, 1995 10,000
22 - 25 September 1, 1996 20,000
26 - 29 September 1, 1997 20,000
30 - 33 September 1, 1998 20,000
34 - 37 September 1, 1999 20,000
38 - 41 September 1 , 2000 20,000
42 - 47 September 1 , 2001 30,000
That with the exception of Bonds Nos. 1 to 13, both inclusive,
which mature on and prior to September 1, 1990, the City of Schertz,
Texas, expressly reserves the right to redeem before maturity all
or any of the remaining bonds of this issue, to-wit:
Bonds Nos.
14 to 47, both inclusive, on any interest payment date on and after
September 1, 1990, by paying the principal and accrued interest
therefor to the interest payment date fixed for redemption; and
in case any of said Bonds Nos. 14 to 47, both inclusive, shall
be called for redemption before matu~ity, notice thereof shall
be given in writing to the SCHERTZ STATE BANK, SCHERTZ, TEXAS,
at least thirty (30) days before the interest payment date fixed
for redemption, and written notice of such redemption shall be
published at least once in a financial journal of general circulation
in the State of Texas; and should such bond, or bonds, not be presented
for redemption after the same have been properly called and notice
given as aforesaid and provisions for payment and redemption duly
made, the same shall cease to bear interest from and after the
interest payment date so fixed for redemption.
IV
That said bonds shall bear interest per annum from their
date until paid at the following rates: Bonds Nos.
1 to ...!::.L,
both inc. , at the rate of floc % . Bonds No. Ie to I') -,
,
both inc. , at the rate of (). 1-, [) % . Bonds Nos. .! ~-) .to ~
, - ,
both inc. , at the rate of (o,~L % . Bonds Nos. /((' to /! l.
. .
. ~ ,
"(.CO 'L(o U4-
both inc. , at the rate of % . Bonds Nos. to j., ,
,
both inc. , at t,he rate of _:J 'J[ % . said interest being payable
,
on September 1, 1975, and semi-annually thereafter on March 1 and
September 1 of each year while said bonds or any of them are outstanding
which interest shall be evidenced by coupons attached to each of
said bonds.
V
That the principal of and interest on said bonds shall
be payable, without exchange or collection charges to the holder,
at SCHERTZ STATE BANK, SCHERTZ, TEXAS, in lawful money of the
united States of America, upon presentation and surrender of bonds
or proper interest coupons as they severally mature.
VI
That in accordance with Article 7l7j-l, Vernon's Revised
Civil Statutes of Texas, as amended, each of said bonds shall be
executed by the imprinted facsimile signatures of the Mayor of
the City of Schertz, and countersigned by the imprinted facsimile
signature of the City Secretary of the City of Schertz; and each
of the interest COUP9ns attached to said bonds shall be executed
by the imprinted facsimile signatures of the Mayor and City Secretary;
and such imprinted facsimile signatures shall have the same effect
as if such bonds and interest coupons had been manually signed
by each of said officials; that the City Secretary is hereby autho-
rized to cause the seal of said City to be imprinted in facsimile
on each of said bonds; and the imprinting of the seal of said City
in facsimile on each of said bonds shall have the same legal effect
as the impression of the seal of said City on each of said bonds.
VII
That the form of each of said bonds shall be substan-
tially as follows, to-wit:
NO.
$5,000
UNITED STATES OF AMERICA
STATE OF TEXAS
COUNTIES OF GUADALUPE, BEXAR AND COMAL
CITY OF SCHERTZ
GENERAL OBLIGATION BOND, SERIES 1975
******************************************************
KNOW ALL MEN BY THESE PRESENTS:
That the City of
Schertz, a municipal corporation duly incorporated and
existing under the laws of the State of Texas, FOR VALUE
RECEIVED, acknowledges itself indebted and hereby pro-
mises to pay to bearer
FIVE THOUSAND DOLLARS
($5,000) in lawful money of the United States of America,
on the 1st day of September,
, with interest thereon
from date hereof at the rate of
per cent
%) per annum, interest payable on September 1, 1975,
and semi-annually thereafter on March 1 and September 1
of each year, upon presentation and surrender of bond or
properly annexed interest coupon as they severally mature.
BOTH PRINCIPAL OF and interest on this bond are
hereby made payable, without exchange or collection
charges to the holder, at the SCHERTZ STATE BANK, SCHERTZ,
TEXAS, and for the prompt payment of the interest on
this bond and the principal thereof at maturity, the full
faith, credit and resources of the City of Schertz, Texas,
are hereby irrevocable pledged.
(NOTE TO PRINTER: Insert here in Bonds Nos. 14
to 47, both inclusive, the redemption
paragraph which is Section VIII hereof)
THIS BOND is one of a series of bonds of like tenor
and effect (except as to number, maturity date, interest
rate and right of prior redemption), numbered consecutive-
ly from One (1) to Forty-seven (47), both inclusive,
in the denomination of Five Thousand Dollars ($5,000)
each, aggregating the principal sum of TWO HUNDRED THIRTY-
FIVE THOUSAND DOLLARS ($235,000), of which the sum of
$25,000 is to be used for the purpose of constructing
street improvements within said City, the sum of $85,000
is to be used for the purpose of constructing drainage
improvements for said City, and the sum of $125,000 is to
be used for the purpose of constructing park improvements
in said City, under and in strict 'conformity with the
Constitution and laws of the State of Texas, and in pur-
suance of an ordinance passed by the City Council of
the City of Scehrtz, Texas, which ordinance is of record
in the minutes of said City Council.
THE DATE of this bond, in conformity with the ordi-
nance above referred to, is MARCH 1, 1975.
IT IS HEREBY CERTIFIED AND RECITED that the issuance
of this bond, and the series of which it is a part, is
duly authorized by law and by a majority vote of the
resident qualified electors of the City of Schertz, Texas,
who owned taxable property in said City and who duly
rendered the same for taxation, and by a majority vote
of all other resident qualified electors of said City,
voting separately, at an election duly held within said
City; that all acts, conditions and things required to
be done precedent to and in the issuance of this series
of bonds, and of this bond, have been properly done,
performed and have happened in regular and due time,
form and manner, as required by law; that sufficient
and proper provision for the levy and collection of taxes
has been made, which taxes, when collected, shall be
appropriated exclusively to the payment of this bond
and the series of which it is a part, and to the payment
of the interest coupons thereto annexed as the same shall
become due; and that the total indebtedness of said City
does not exceed any Constitutional or statutory limitation.
IN WITNESS WHEREOF, the City of Schertz, Texas,
by its City Council, has caused the corporate seal of
said City to be imprinted hereon in facsimile, and this
bond to be executed by imprinting hereon the facsimile
signature of the Mayor of the City of Schertz, and counter-
signed by imprinting hereon the facsimile signature of
the City Secretary of the City of Schertz, and the in-
terest coupons hereto attached to be executed by the
imprinted facsimile signatures of said Mayor and said
City Secretary (in accordance with the provisions of
Article 7l7j-l, Revised Civil Statutes of Texas, as amended)
as of the date of this bond, the 1ST DAY OF MARCH, 1975.
Mayor, City of Schertz
COUNTERSIGNED:
(SEAL OF CITY)
City Secretary
VIII
That each of said Bonds Nos. 14 to 47, both inclusive,
shall contain on its face these words, being the redemption para-
graph:
THE CITY OF SCHERTZ, TEXAS, hereby reserves the
right to redeem this bond before maturity on any interest
payment date on and after Septembor 1, 1990, by paying
the principal and accrued interest therefor to the interest
payment date fixed for redemption; and in case this bond
shall be called for redemption before maturity, notice
thereof shall be given in writing to the Schertz State
Bank, Schertz, Texas, at least thirty (30) days before
the interest payment date fixed for redemption, and
notice of such redemption shall be published in a fi-
nancial journal published and of general circulation
in the State of Texas; and should this bond not be pre-
sented for redemption after the same is properly called
and notice given as aforesaid and provisions for payment
and redemption duly made, the same shall cease to bear
interest from and after the interest payment date so
fixed for redemption.
IX
That the form of the interest coupons shall be subs tan-
tially as follows, to-wit:
NO.
$
ON THE 1ST DAY OF
, 19
*(unless the bond to which this coupon appertains
has been properly called for prior redemption
and provisions for payment and redemption duly
made in accordance with its terms,)
THE CITY OF SCHERTZ, TEXAS, promises to pay to bearer,
without exchange or collection charges to the holder,
at the Schertz State Bank, Schertz, Texas, the sum of
DOLLARS ($
) ,
in lawful money of the United States of America, being
the interest due that day on $235,000 CITY OF SCHERTZ,
TEXAS, GENERAL OBLIGATION BOND, SERIES 1975, dated
March 1, 1975, Bond No.
City Secretary
Mayor
*(NOTE TO PRINTER: The expression in the first
parentheses of the above coupon is to be in-
cluded only in those coupons affixed to Bonds
Nos. 14 to 47, both inclusive, which mature
on September 1, 1990, or thereafter).
x
That the bonds authorized herein being a public security,
which, under the laws of the State of Texas, is required to be
registered by the Comptroller of Public Accounts of the State of
Texas; accordingly, there shall be printed on the back of each
of said bonds substantially the following certificate, which as
to the registration of each of said bonds by the Comptroller of
Public Accounts of the State of Texas shall be manually signed
by said Comptroller or by a Deputy designated in writing to act
for said Comptroller:
OFFICE OF THE COMPTROLLER X
X
STATE OF TEXAS X
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 Constitution and laws of the State of Texas,
and that it is a valid and binding obligation upon
said City of Schertz, Texas, and said bond has this day
been registered by me.
WITNESS MY HAND AND SEAL OF OFFICE AT AUSTIN, TEXAS,
this
Comptroller of Public Accounts
of the State of Texas
XI
That a special fund to be designated "GENERAL OBLIGATION
BONDS, SERIES 1975, DATED MARCH 1, 1975, INTEREST AND SINKING FUND,"
shall be and the same is hereby created and set aside, which fund,
when collected, shall be used to pay the interest on said bonds
as the same becomes due and the principal thereof at maturity,
and for no other purpose.
That to create said fund, and for the purpose of paying
the interest on said bonds falling due on September 1, 1975, there
is hereby transferred and appropriated from current funds of said
City the sum of $ t5,:;;:2.loo,oo to said INTEREST AND SINKING
FUND; and
That to further create said INTEREST AND SINKING FUND,
there shall be and there is hereby levied for the year 1975, a tax
on each One Hundred Dollars ($100) valuation of all taxable property
in said City, sufficient to pay the interest falling due on March
1, 1976, on said bonds, and to provide at least two per cent
(2%) of the principal amount of said bonds as a sinking fund,
as required by Article XI, Section 7 of the Constitution of the
State of Texas; and that while said bonds,
or any of them, or
any interest thereon, are outstanding and unpaid,
there shall
be annually levied,
assessed and collected in due time, form
and manner, a tax upon all of the taxable property in said City
sufficient to pay the current interest on said bonds and to create
a sinking fund sufficient to pay each installment of principal
as the same becomes due, or a sinking fund of 2%, whichever
is greater, as required by hrticle
XI, Section 7 of the Con-
stitution of the State of Texas, said tax to be based on the
latest approved tax rolls of said City, with full allowance being
made for delinquencies and costs of collection; and an ad valorem
tax at said rate and amount is hereby levied, and is hereby ordered
to be levied, against all taxable property in said City for each
year while any of said bonds or interest coupons appertaining thereto
are outstanding and unpaid; and said tax shall each year be assessed
and collected and applied to the payment of the principal of and
interest on said bonds. That the City Council hereby declares
its purpose and intent to hereby provide and levy a tax which is
legal and which is fully sufficient to pay the interest on said
bonds as it falls due and to pay the principal of said bonds at
maturity, which tax will also fully comply each year with Article
XI, Section 7 of the Constitution of the State of Texas; and it
has determined that there exists available taxing power and authority
in the City for said purposes which is adequate to permit the levy
of a legally sufficient tax therefor, taking into consideration
all other outstanding obligations of said City.
XII
That the City Council of the City of Schertz, Texas,
hereby specially covenants and agrees with the original owners
and holders of the bonds and with all subsequent owners and holders
from time to time of said bonds that:
(1) The City Council of said City will promptly proceed
to utilize the proceeds from the sale of said bonds
(other than accrued interest to the date of delivery)
for the purposes set forth in Section I of this
ordinance;
(2) No portion of the bonds hereby authorized is issued
as a part of an issue, all or a major portion of the
proceeds of which are reasonably expected to be
used directly or indirectly
(a) to acquire securities (within the meaning of
Section 165 (g) (2) (A) or (B) of the Internal
Revenue Code) or obligations other than obli-
gations described in Section 103 (a) (1) of
the Internal Revenue Code (except for a tem-
porary period of time to the extent permitted
by 103 (d) (4) (A) of the Internal Revenue
Code) which may be reasonably expected at the
time of the issuance of such issue to produce
a yield over the term of the issue which is
materially higher (taking into account any
discount or premium) than the yield on obli-
gations of such issue, or
(b) to replace funds which were used directly or
indirectly to acquire securities or obligations
described in subparagraph (a); and
(3) The City Council of said City will take such action
in accordance with and as required by regulations
prescribed from time to time by the Secretary of
the Treasury or his delegate to carry out the pur-
poses of Section 103 (d) of the Internal Revenue
Code so that no portion of the bonds hereby au-
thorized shall be classified as an "arbitrage
bond" within the meaning of Section 103
(d) of the Internal Revenue Code.
Specifically,
but not by way of limitation, said City Council
covenants that it will make no use of the proceeds
of such bonds at any time during the term thereof
which would cause such bonds to be arbitrage bonds
within the meaning of Section 103 (d) of the Code
as interpreted by Sections 1.103-13 and 1.103-14
of the regulations promulgated for such purpose
by the United States Treasury Department inter-
preting such Code section.
(4) Said City Council covenants that it will not permit
to be deposited to the credit of the INTEREST AND
SINKING FUND or applied to the payment of the prin-
cipal of or interest on the bonds authorized hereby,
any proceeds from any grant, donation or income
received from the United States Government, whether
pursuant to agreement or otherwise, if such deposit
or application would result in interest payable on
said bonds being includable in whole or in part in
Gross Income, under Section 103 of the Internal
Revenue Code, for federal income taxes.
XIII
That the Mayor of the City of Schertz, Texas, 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 approval by said Attorney General and registration
by the Comptroller of Public Accounts of the State of Texas.
That
when said bonds have been registered, the said Comptroller is hereby
authorized and instructed to deliver the bonds to the CITY
NATIONAL BANK, AUSTIN, TEXAS, where they will be taken up and paid
for by the purchaser.
_,XIV )
/t )
( That the bid of /,Ita-'I v C' /u :l-i'(
\ o. '/ ' . -I (/l' 1. I. F _, { -
"'/~~k('L_ 'LLL/{~-,,J_ ../'j / ~J '1(.;.' (C II
( -I---- - I /,)
'-'A'l c, I in Lt), '- C(;- /. 1.2 ya:c~
i_ <' (
for the bonds herein authorized, at the price of par and accrued
interest to date of delivery, plus a cash premium of $
,--
(
having heretofore been accepted, sale of said bonds is hereby
confirmed to said purchaser, and the Mayor and City Secretary of
the City of Schertz are hereby authorized, directed and instructed
to do all things necessary to deliver said bonds to said purchaser
at the aforesaid price.
xv
That the public importance of this measure and the
pressing need of the City to obtain funds for the purposes set
out in Section I of this ordinance, for the immediate preservation
of the public peace, health and safety of the citizens of said
City, constitute and create an urgent public necessity requiring
that this ordinance be passed and take effect as an emergency
measure, and this ordinance is accordingly passed as an emergency
measure, and shall take effect and be in force immediately from
and after its passage.
XVI
That the purchaser above named, having purchased the
bonds herein authorized subject to the final opinion of Messrs.
Dobbins, Howard & Harris, Attorneys at Law, San Antonio, Texas,
approving the validity of such bonds, which approving opinion is
to be dated as of the date of delivery of and payment for the bonds
herein authorized, the printing of a true and correct copy of said
approving opinion on the reverse side of each of said bonds with
an appropriate certificate pertaining thereto executed by the fac-
simile signature of the City Secretary of the City of Schertz,
Texas, is hereby approved and authorized.
PASSED this, the 12th day of March, 1975.
~c~
Mayor, City of Schertz, Texas
ATTEST:
~^ ,Y:f-;k,a","
c' y Secretary ~
(SEAL OF CITY)
OFFICIAL NOTICE OF SALE
CITY OF SCHERTZ, TEXAS
(Guadalupe, Bexar & comal Counties)
$325,000
UTILITY SYSTEM REVENUE BONDS
SERIES 1975
&
$235,000
GENERAL OBLIGATION
SERIES 1975
BONDS
Date of Sale:
March 12, 1975
Time:
7:00 P.M., C.D.S.T.
Place of Sale:
Council Chamber
401 Oak Street
Schertz, Texas 78154
CITY OFFICIALS
Hon. Robert C. Bueker
Robert E. Schwartz
Donald J. Seeba
Mrs. Bobbie L. Koch
Tom Koole
Mrs. Nell G. Funk
Mayor
Alderman
Alderman
Alderwoman
Alderman
Alderwoman
Denny L. Arnold
June G. Krause
City r-Ianager
City Secretary
Prepared by
TEXAS SECURITIES CORPORATION
5701 Broadway
San Antonio, Texas 78209
Financial Advisors to the City
OFFICIAL NOTICE OF SALE
$325,000
UTILITY SYSTEM REVENUE BONDS
SERIES 1975
&
$235,000
GENERAL OBLIGATION BONDS
SERIES 1975
of the
CITY OF SCHERTZ, TEXAS
(Guadalupe, Bexar & Comal Counties)
SELLING: Wednesday, r-Iarch 12, 1975, at 7:00 P.M., C.D.S.T.
PLACE AND TIME OF SALE: The City Council of the City of Schertz,
Texas will receive sealed bids at the
Council Chamber, 401 Oak St" Schertz, Texas, 78154 until 7:00
P.M.,C.D.S.T. on Wednesday March 12, 1975 for the above bonds,
more completely described in the Official Notice of Sale which
is made a part hereof.
ADDRESS OF BIDS: Sealed bids, plainly marked "Bid For Bonds",
should be addressed to the Honorable Robert C.
Bueker, Mayor and City Council of the City of Schertz, Texas 78154.
All bids must be submitted on the"Official Bid Form".
TYPE OF BIDS AND INTEREST RATES: The bonds will be sold in two
separate blocks:
(1) $325,000 Utility System Revenue Bonds, Series 1975;(2) $235,000
General Obligation Bonds, Series 1975. Bids must be submitted for
all or none of the separate blocks bid upon. No bid of less than
par and accrued interest will be considered. Bidders must specify
the rate or rates of interest the bonds will bear. No more than
five separate rates or four coupon changes will be considered and
all bonds within a maturity must bear the same interest rate. The
difference between the highest rate bid and the lowest rate bid
shall not exceed 2'Yo. Coupon rates must be in multiples of 1/8th
, or 1/20th of 1'Yo. Supplemental coupons will not be considered.
BASIS OF AWARD: The interest cost of each bid will be computed
by determining the total dollar value of all
interest on the bonds from the date thereof to their respective
maturities at the coupon rates specified therein, less any premium
tendered. The bonds will be awarded to the bidder whose bid on
the above computation produces the lowest interest cost to the
City, subject to the right reserved to the City to reject any or
all bids.
-1-
GOOD FAITH DEPOSIT: Each bid must be accompanied by a Cashier's
Check payable to the City of Schertz, Texas:
(1) in the amount of $6,500.00 with bids for the $325,000 Utility
System Revenue Bonds, Series 1975; (2) in the amount of $4,700.00
with bids for the $235,000 General Obligation Bonds, Series 1975.
The check of the successful bidder for each block will be considered
as a Good Faith Deposit and will be retained by the City to assure
performance of the contract on the part of the successful bidder.
In the event such bidder should fail or refuse to take up and pay
for the bonds in accordance with his bid, then said check shall be
cashed and accepted by the City as full and complete liquidated
damages. The above mentioned Cashier's Checks may accompany the
"Official Bid Form" or they may be submitted separately; if sub-
mitted separately, they shall be made available to the payee prior
to the opening of the bids and shall be accompanied by instructions
by the banks on which drawn which authorizes its use as a good faith
deposit by the successful bidder who shall be named in such instruc-
tions.
PRINTED BONDS AND LEGAL OPINION: The City will furnish printed bonds
on lithographed borders with fac-
simile signatures, a complete transcript of proceedings had incident
to the authorization and issuance of the bonds, together with the
final unqualified approving opinion of Messrs. Dobbins, Howard &
Harris, Bond Attorneys, San Antonio, Texas. The legal opinion will
be printed on the back of each bond.
DELIVERY: The purchaser must agree to accept delivery of and make
payment for the bonds in immediately available funds,
when presented, at the City National Bank, Austin, Texas. If for
any reason the City is unable to make delivery within sixty (60)
days from the date of sale, the successful bidder may accept delivezy
of the bonds at his option for the next succeeding thirty (30) days.
NO-LITIGATION CERTIFICATE: The City will execute, and deliver to the
successful purchaser, a certificate to
the effect that no litigation of any nature has been filed or is then
pending to restrain or enjoin the issuance or delivery of said bonds
or the coupons appertaining thereto, or which would affect the pro-
visions made for their payment or security, or in any manner question-
ing the validity of said bonds or coupons.
CUSIP NUMBERS: It is anticipated that CUSIP identification numbers
will be printed on said bonds, but neither the
failure to print such number on any bond nor any error with respect
thereto shall constitute cause for a failure or refusal by the
purchaser thereof to accept delivery of and pay for said bonds in
accordance with the terms of the purchase contract. All expenses
in relation to the printing of CUSIP numbers on said bonds shall
be paid for by the issuer; provided, however, that the CUSIP Service
Bureau charge for the assignment of said numbers shall be the res-
ponsibility of and shall be paid for by the purchaser.
-2-
THE CITY RESERVES THE RIGHT to reject any or all bids and to
waive any irregularities.
Additional copies of this Notice of Sale and Bid Forms may be
obtained from Texas Securities Corporation, 5701 Broadway, San
Antonio, Texas 78209, the City's Financial Consultants, or Nr.
Denny L. Arnold, City Manager, City of Schertz, Texas 78154.
/s/ ROBERT C. BUEKER
Mayor, City of Schertz, Texas
Dated: February 18, 1 9 7 5
-3-
INTEREST EXEMPT FROM ALL PRESENT FEDERAL INCOME TAXES
preliminary Circular
MOODY'S RATING
"provisional BAA-I"
$325,000
CITY OF SCHERTZ, TEXAS
(Guadalupe, Bexar & Comal Counties)
UTILITY SYSTlli~ REVENUE BONDS, SERIES 1975
Dated: March 1, 1975
Denomination: $5,000
principal and semi-annual interest (September 1 & March 1)
payable at the Schertz State Bank, Schertz, Texas.
First interest coupon due September 1, 1975.
MATURITY SCHEDULE
(Due September 1)
Amount Rate Maturity Yield Amount Rate Maturity Yield
$ 5,000 1979 $10,000 1992*
5,000 1980 10,000 1993*
5,000 1981 10,000 1994*
5,000 1982 10,000 1995*
5,000 1983 10,000 1996*
5,000 1984 15,000 1997*
5,000 1985 15,000 1998*
5,000 1986 15,000 1999*
5,000 1987 25,000 2000*
5,000 1988 25,000 2001*
10,000 1989 25,000 2002*
10,000 1990 25,000 2003*
10,000 1991* 25,000 2004*
25,000 2005*
(*) Bonds maturing September 1, 1991 and thereafter are to be optional
on September 1, 1990, or on any interest payment date thereafter
at par and accrued interest.
THESE BONDS were authorized at an election held on July 27, 1974, and
$275,000 being the first installment of $750,000 (for water-
works purposes) and $50,000 being the total amount authorized for sewer
purposes, constitute special obligations of the City of Schertz, Texas
and are payable solely from a first lien on and pledge of the revenues
of the City's combined Waterworks and Sanitary Sewer System, after de-
duction of reasonable expenses of operation and maintenance, as provided
by the General Laws of the State of Texas, particularly Articles 1111 to
1118, both inclusive, Revised civil Statutes of Texas, as amended.
PROCEEDS from the sale of these bonds will be used for improving and
extending the Waterworks and Sanitary Sewer System of said
City.
-4-
PAYMENT RECORD: The City of Schertz, Texas, has never defaulted.
LEGALITY
: Messrs. Dobbins, Howard & Harris, Bond Attorneys,
San Antonio, Texas, and the Attorney General of
the State of Texas.
DELIVERY
: When issued and received, expected on or about
April 2, 1975.
WATERWORKS & SEWER SYSTEM OPERATING STATEMENT
2-1-74
to
Year Endinq: 1-31-75** 9-30-74 9-30-73 9-30-72 9-30-71
Income $303,019 $267,897 $232,376 $174,923 $164,009
Expense 191,741 171,995* 93,741 81,509 62,554
Available for
Debt Service $111,278 $ 95,902 $138,635 $ 93,414 $101,455
* Increase in Operating Expense due to Sewage Disposal Contract with
Cibolo Creek Munic{pal Authority.
** Net Revenues for 12 months period ending 1-31-75 reflects Sewer
Rate increase that was put into effect on 10-1-1974.
Average Annual principal and Interest Requirements
using an assumed rate of 7-1/2'Yo on this issue -
1975-2005....................................................$ 68,430
Coverage of Average Annual Requirements by Net Income
for the 12 month period 2-1-74 through 1-31-75($111,278).... 1.63X
Coverage of Average Annual Requirement based upon
Engineer's Projection of Average Net Income avail-
able. 1975-2005 ($391,195) ................................ 5.72X
-5-
DEBT STATEMENT
(As of 1-31-75)
Waterworks and Sewer System Revenue Bonds Outstanding
after the issuance of these bonds .....................
Less: Interest & Sinking, Reserve & Repair Funds ......
$1,010,000.00
81,020.00
NET DEBT................................................. $ 928,980.00
Net Debt Per Combined connections (3,471) . . . . . . . . . . . . . . . $ 267.64
CONNECTIONS
9-30-74 9-30-73 9-30-72 9-30-71 9-30-70
Water 1,771 1,700 1,417 1,207 1,071
Sewer L701 1,640 1,317 1,116 1,024
Totals 3,471 3,340 2,734 2,323 2,095
WATER RATES
Residential (5/8" - 3/4"
First 3,000 gallons
Next 10,000 gallons
Next 10,000 gallons
Over 23,000 gallons
Service)
$4.00 (Min)
.60/M gals
.50/M gals
.35/M gals
commercial (1" Service)
First 7,000 gallons
Next 10,000 gallons
Next 10,000 gallons
OVer 27,000 gallons
$7.00 (Min)
.60/M gals
.50/M gals
.35/M gals
Commercial (1-1/2" Service)
First 10,000 gallons $12.50 (Min)
Next 10,000 gallons .60/M gals
Next 10,000 gallons .50/M gals
Over 30,000 gallons .35/M gals
SEWER RATES*
(Based on water consumption)
Residential
First 3,000
Next 12,000
OVer 15,000
gallons
gallons
gallons
$4.00 (Min)
. 45/M
No Charge
Commercial
First 3,000 gallons
OVer 3,000 gallons
$5.00
.60/M gallons
(*) These Sewer Rates went into
effect on 10-1-1974.
-6-
CITY'S EQUITY IN WATERWORKS & SEWER SYSTEM
(As of 9-30-1974)
RESOURCES:
utility Plant
Less: Depreciation
$ 1,268,364
239,763
Cash & Other
OBLIGATIONS:
Revenue Bonds
Less: Funds on Hand
$
685,000
81,020
Total Deductions
NET EQUITY ( 46. 79 'Yo)
SOURCE OF WATER SUPPLY
The city presently secures water from two wells.
SPECIAL SEWAGE DISPOSAL CONTRACT
$ 1,028,601
106,482
$1,135,083
$ 603,980
$ 531,103
The City contracted with Cibolo Creek Municipal Authority in June
1973, and subsequently amended, whereby the Authority will take
the City's sewage at the rate of 54~/M gallons of sewage.
REVENUE BONDS AUTHORIZED BUT UNISSUED
Date of
Authorization
Issued
To Date
Authorized
Purpose
7-18-70
Sewer
$ 600,000
-0-
7-27-74
750,000
275,000
Wa ter
-7-
unissued
$ 600,000
475,000
BOND ORDINANCE PROVISIONS
The City covenants the usual protective features in a Revenue
Bond. Among other things, the ordinance authorizing the issuance
of these bonds will contain the following:
1. The City will agree to charge and collect rates suffi-
cient to pay all operation, maintenance, depreciation, replacement
and betterment expenses and to produce each year net revenues suffi-
cient to pay the principal of and interest on said bonds as they
become due.
2. All revenues derived from the operation of the system
will be kept separate from other funds of the City. The Reserve
Fund will provide for one year's average principal and interest
requirement on all outstanding bonds.
3. ADDITIONAL BONDS. The City reserves the right to issue
additional bonds payable from revenues of the system provided:
a. Interest & Sinking Fund, Reserve Fund and Emergency Fund
all contain the amount of money then required to be on
deposit.
b. For the completed twelve months immediately preceding
the adoption of additional bonds ordinance net revenues
shall have been not less than l~ times average annual
requirements, after giving effect of the additional
bonds. However, additional Parity Bonds for the purpose
of purchasing or constructing an electric light and
power system and/or a natural gas system may be issued
provided that a registered professional Engineer certi-
fies that the average annual net revenues of the system
will be at least l~ times average annual requirements,
after giving effect of the additional bonds.
-8-
$325,000
CITY OF SCHERTZ, TEXAS
UTILITY SYSTEM REVENUE BONDS, SERIES 1975
Present proposed 7-1/2% Total
Year Outstanding New Issue Interest Due New Issue Reqmts
9-30 Requirements Due 9-1 9 - 1 & 3 - 1 Reqm ts All Issues
1975 $ 56,393 $ $ 12,187.50 $ 12,187.50 $ 68,580.50
1976 55,468 24,375.00 24,375.00 79,843.00
1977 54,543 24,375.00 24,375.00 78,918.00
1978 53,618 24,375.00 24,375.00 77,993.00
1979 47,693 5,000 24,375.00 29,375.00 77,068.00
1980 52,018 5,000 24,000.00 29,000.00 81,018.00
1981 51,118 5,000 23,625.00 28,625.00 79,743.00
1982 50,218 5,000 23,250.00 28,250.00 78,468.0C
1983 49,318 5,000 22,875.00 27,875.00 77,193.0C
1984 48,418 5,000 22,500.00 27,500.00 75,918.0C
1985 52,518 5,000 22,125.00 27,125.00 79,643.0C
1986 51,393 5,000 21,750.00 26,750.00 78,143.0C
1987 50,268 5,000 21,375.00 26,375.00 76,643.0C
1988 49,143 5,000 21,000.00 26,000.00 75,143.0C
1989 47,706 10,000 20,625.00 30,625.00 78,331.0C
1990 51,268 10,000 19,875.00 29,875.00 81,143.0C
1991 49,543 10,000 19,125.00 29,125.00 78,668.0C
1992 47,818 10,000 18,375.00 28,375.00 76,193.0C
1993 51,093 10,000 17,625.00 27,625.00 78,718.0C
1994 49,081 10,000 16,875.00 26,875.00 75,956.0C
1995 52,068 10,000 16,125.00 26,125.00 78,193.0C
1996 49,768 10,000 15,375.00 25,375.00 75,143.0C
1997 47,328 15,000 14,625.00 2.9,625.00 76,953.0C
1998 44,888 15,000 13,500.00 28,500.00 73,388.0C
1999 47,588 15,000 12,375.00 27,375.00 74,963.0C
2000 25,000 11,250.00 36,250.00 36,250.0C
2001 25,000 9,375.00 34,375.00 34,375.0C
2002 25,000 7,500.00 32,500.00 32,500.01.
2003 25,000 5,625.00 30,625.00 30,625.0r
2004 25,000 3,750.00 28,750.00 28,750.0C
2005 25,000 1,875.00 26,875.00 26,875.0C
-9-
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-10-
INTEREST EXEr-IPT FROM ALL PRESENT FEDERAL INCOr-IE TAXES
MOODY'S RATING
preliminary Circular
"provisional BAA"
$235,000
CITY OF SCHERTZ, TEXAS
(Guadalupe, Bexar & Comal Counties)
GENERAL OBLIGATION BONDS
SERIES 1975
Dated: March 1, 1975
Denomination: $5,000
principal and semi-annual interest (September 1 & March l)
payable at the Schertz State Bank, Schertz, Texas.
First interest coupon due September 1, 1975.
MATURITY SCHEDULE
( Due September 1)
Amount Rate Maturity Yield Amount Rate Maturity Yield
$ 5,000 1978 $ 5,000 1990
5,000 1979 5,000 1991*
5,000 1980 5,000 1992*
5,000 1981 10,000 1993*
5,000 1982 10,000 1994*
5,000 1983 10,000 1995*
5,000 1984 20,000 1996*
5,000 1985 20,000 1997*
5,000 1986 20,000 1998*
5,000 1987 20,000 1999*
5,000 1988 20,000 2000*
5,000 1989 30,000 2001*
(*) Bonds maturing September 1, 1991 and thereafter are to be optional
on September 1, 1990, or on any interest payment date thereafter
at par and accrued interest.
THESE BONDS were authorized at elections for the following purposes:
10-30-71 $ 25,000 Street Improvements, second & final installment;
10-30-71 85,000 Drainage - total amount authorized; and
7-27-74 125,000 Park Improvements - total amount authorized.
The bonds will constitute direct and general obligations of the City of
Schertz, Texas, payable from ad valorem taxes levied against all taxable
property located therein, within the limits prescribed by law.
PROCEEDS from the sale of these bonds will be used for Street Improve-
ments, Drainage and Park Improvements.
-11-
PAYMENT RECORD: The City of Schertz, Texas, has never defaulted.
LEGALITY Messrs. Dobbins, Howard & Harris, Bond Attorneys,
and the Attorney General of the State of Texas.
DELIVERY When issued and received, expected on or about
April 2, 1975.
FINANCIAL STATEMENT
(As of 1-31-1975)
1974 Assessed Valuation (50'Yo of Actual)................... $16,310,976
Total General Obl. Debt (Including this Issue)..$659,OOO
LESS: Self-supporting Debt........ $249,000
I & S Funds................. 16,790 265,790
NET DEBT (2.41'Yo of A. V. - $60.37 per capita)........... $
393,210
Population - 1950
1960
1970
Estimated 1974
Unincorporated
2,281
4,061
6,513
TAX DATA
Tax Assessed Tax 'Yo Collections Year
~ Valuation Rate Current Total Endinq
1969 $ 4,880,413 $1. 00 98.89 101.88 9-30-70
1970 5,874,234 1.00 99.09 99.95 9-30-71
1971 7,877,766 1.00 95.49 96.33 9-30-.72
1972 9,657,845 1.00 98.73 100.68 9-30-73
1973 12,217,028 1.00 96.74 97.74 9-30-74
1974 16,310,976 1.00 92.73 As of 1-31-75
TAX RATE DISTRIBUTION
1974 1973 1972 1971 1970
-
General Fund $0.73 $0.70 $0.83 $0.79 $0.75
I & S Fund .27 .30 .17 .21 .25
Totals $1. 00 $1. 00 $1.00 $1. 00 $1.00
TAX RATE LIMITATION
Imposed by Texas Constitution: $2.50 per $100 assessed valuation, by
local referendum, $2.50 for all city purposes.
-12-
COMPUTATION OF SELF-SUPPORTING DEBT
Net System Revenue Available for Year ending 1-31-75
Less: Average Annual Requirements for Rev. Bonds,inc.
Balance available for other purposes
Average Annual Requirements for System G. O.
Percentage of System G. O. Bonds Self-Supporting
$111,278
this issue 68.530
42,748
14,536
100'Yo
TAX ADEQUACY
1974 Assessed Valuation of $16,310,976 computed with a Tax
Rate Levy of $0.32 @ 90'Yo Collections Produces .........$46,520
Average Annual Principal & Interest Requirements........... $46,976
MUNICIPAL SALES TAXES
The City has adopted the provisions of Article 1066c, VCS, and levies
a 1'Yo sales tax, effective October 1, 1970, which has produced net
collections on a full Calendar Year basis as follows:
Calendar
Year
Total
Collected
1971
1972
1973
1974
$19,612
23,008
26,503
41,163
GENERAL OBLIGATION BONDS AUTHORIZED BUT UNISSUED
Date of
Authorization
Purpose
Authorized
Issued
To Date
Unissued
12-16-61
Sewer
$315,000
$301,000
$ 14,000
7-18-70
Sewer
250,000
-0-
250,000
ESTIMATED OVERLAPPING DEBT STATEMENT
Net Debt Amount
Taxinq Body Amount As Of 'Yo OVlpq Ovlpq
Bexar County $14,428,519 5-31-74 0.001 $ l.44
Bexar Co. Hosp.Dist 3,718,168 6-30-74 .001 37
Bexar Co. Rd. #3 588,769 5-31-74 .002 12
cibolo Creek Mun
Authority 190,000 6-30-74 21. 96 41,724
Comal County 178.845 9-30-74 .28 501
Comal ISD 8,627,053 8-31-74 .48 41,410
Guadalupe County U5,726 9-30-74 8.97 10,381
San Antonio River
Authority 13,090,802 6-30-74 .001 131
Schertz-cibolo
Universal city ISD 6,162,250 8-31-74 25.24 1,555,352
TOTAL Net Ovlpg Debt $1,649,692
SCHERTZ, City of 393,210 1-31-75 100.00 393.710
TOTAL Direct & Ovlpg Debt
(12.52% - A. V. - $313.67 per capita) $2,042,902
-13-
$235,000
CITY OF SCHERTZ, TEXAS
GENERAL OBLIGATION BONDS
Present Proposed 7'Yo* Total
Year Outstanding New Issue Interest Due New Issue Reqmts
9-30 Requirements Due 9-1 9 - 1 & 3 - 1 Reqmts. All Issues
1975 $ 34,455 $ $ 8,225 $ 8,225 $ 42,680
1976 34,750 16,450 16,450 51,200
1977 34,000 16,450 16,450 50,450
1978 30,247 5,000 16,450 21,450 51,697
1979 28,657 5,000 16,100 21,100 49,757
1980 29,134 5,000 15,750 20,750 49,884
1981 28,565 5,000 15,400 20,400 48,965
1982 28,011 5,000 15,050 20,050 48,061
1983 28,457 5,000 14,700 19,700 48,157
1984 28,867 5,000 14,350 19,350 48,217
1985 29,227 5,000 14,000 19,000 48,227
1986 28,513 5,000 13,650 18,650 47,163
1987 28,799 5,000 13,300 18,300 47,099
1988 30,049 5,000 12,950 17,950 47,999
1989 29,103 5,000 12,600 17,600 46,703
1990 29,157 5,000 12,250 17,250 46,407
1991 28,174 5,000 11, 900 16,900 45,074
1992 28,192 5,000 11,550 16,550 44,742
1993 28,147 10,000 11,200 21,200 49,347
1994 28,066 10,000 10,500 20,500 48,566
1995 28,924 10,000 9,800 19,800 48,724
1996 14,683 20,000 9,100 29,100 43,783
1997 14,248 20,000 7,700 27,700 41,948
1998 14,813 20,000 6,300 26,300 41,113
1999 14,341 20,000 4,900 24,900 39,241
2000 14,870 20,000 3,500 23,500 38,370
2001 10,363 30,000 2,100 32,100 42,463
(*) 7'Yo Interest Rate used for calculation purposes only.
Average Annual Requirements 1975/2001
$0.32 Tax Levy @ 90'Yo Collection
$
$
46,976
46,520
-14-
PRINCIPAL TAXPAYERS
Name
Lucille's Inc.
Val Verde Apartments
Schertz State Bank
Guadalupe Valley Elec.Co-op
Wuest's, Inc.
Royal Crest
Southwestern Bell Tel. Co.
Wayne Kinzel
Rubin Beck
Roy R. Richards
T)'pe of Property
Commercial Property
Apartments
Bank
Electric Utility
Grocery Store Chain
Residential Property
Telephone Utility
Rest Home
Commercial & Res. Property
Commercial & Res. Property
1974 Assessed
Valuation
$ 341,172
311,106
203,693
111,445
111,150
108,025
90,460
65,158
58,749
55,945
THE CITY OF SCHERTZ, 1974 estimated population of 6,513 is a retail
center in a rapidly developing urban area. The Ci"cy is located
approximately 15 miles east of the City of San Antonio and has 32
business establishments rated by Dun and Bradstreet. The Schertz
State Bank held deposits of $5,863,755, as of December 31, 1974.
The City's proximity to both City of San Antonio and Randolph Air
Force Base benefits its future growth. There is a considerable
amount of undeveloped acreage within the corporate limits and the
majority of this property has been purchased by leading San Antonio
Developers.
Schertz contains a majority of the schools of the Schertz-Cibolo-
Universal City Independent School District; to include the Samuel
Clemens High School, O'Henry Middle School and the Schertz Elementary
School, and sites for an additional Elementary School and Junior High
School. The Public Housing Authority of Schertz received approval for
a Housing Grant totaling $1,848,000 to build 26 housing units for the
elderly and for the acquisition of land. A bid has been awarded to a
Contractor and construction is now under way for the building of said
housing units.
ECONOMIC BACKGROUND
County Characteristics: Guadalupe County, South Central Texas County
component of the San Antonio Metropolitan Area, traversed by Inter-
state Highway 10, 1970 population 33,554, increasing 15.6'Yo from 1960,
economy based on agriculture, manufacturing and mineral production.
1972 cash receipts from agriculture $14.4 million, with livestock and
livestock products contributing $8.7 million. 1973 production included
2.5 million dozen eggs and 2.4 million bushels of grain sorghums. Beef
cattle, hogs, dairy products, hay, peanuts, pecans, wheat and corn also
produced.
The county's principal employer manufactures automobile radios and
presently employs 800 persons, with 1,800 expected at full capacity.
A structural steel products manufacturer employs over 500 persons.
Fiberglass cloth, dressed poultry, farm-supply products and cotton
garments also manufactured. Many county residents commute to jobs
in San Antonio. 1973 estimated county retail sales, $61.6 million.
Texas Lutheran College had a Fall, 1973 enrollment of 1,063. Six
county banks held combined 12-31-73 deposits of $63,618,441.
1972 value of all minerals produced, $9.8 million, 1973 crude oil
production, 2.6 million barrels; sand and gravel, clays and natural
gas also recovered. Hunting, fishing and county historic sites
attract additional income.
-15-
OFFICIAL BID FO~l
Honorable Mayor and City Council
City of Schertz
Schertz, Texas 78154
Gentlemen:
Reference is made to your "Notice of Sale" dated February 18, 1975,
covering $325,000 CITY OF SCHERTZ, TEXAS UTILITY SYSTEM REVENUE BONDS,
SERIES 1975, which is made a part hereof.
For your legally issued bonds, as described
we will pay par plus accrued interest from
delivery to us, plus a cash premium of $
and bearing interest as follows:
in said "Notice
date of issue to
for bonds
of Sale",
date of
maturing
September 1, 1979 through September 1, 19_, 'Yo
September 1, 19_ through September 1, 19 , 'Yo
September 1, 19_ through September 1, 19_, 'Yo
September 1, 19_ through September 1, 19_, 'Yo
September 1, through September 1, , 'Yo
Interest cost in accordance with the above bid is:
Gross Interest Cost.................... $
Less: Premium. . .. .. . .. .. . . .. .. .. .. .. .. .. .. .. .. .... .. .. .... $
Net Interest Cost........................................... $
EFFECTIVE INTEREST RATE ...............
'Yo
Cashier's Check No. issued by
Bank, and payable to your order in the amount of $6;.500.00 (is attached
hereto) (has been made available to you prior to the opening of this
bid) as a Good Faith Deposit for disposition in accordance with the
Official Notice of Sale.
Respectfully submitted,
By
Authorized Representative
The above and foregoing bid
City Council of the City of
12th day of March, 1975.
is hereby in all things accepted by the
Schertz, Texas, in session this the
Mayor, City of Schertz, Texas
ATTEST:
City Secretary, City of Schertz, Texas
****************
Return of Good Faith Check is hereby acknowledged.
By
(See Reverse Side for Bond Years)
BOND YEARS
$325,000
CITY OF SCHERTZ, TEXAS
UTILITY SYSTEM REVENUE BONDS
SERIES 1975
YEAR
Dated: 3-1-1975
PRINCIPAL
( 9 - 1 )
ACCUMULATED
BOND YEARS
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
$ 5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
15,000
15,000
15,000
25,000
25,000
25,000
25,000
25,000
25,000
22.5
50.0
82.5
120.0
162.5
210.0
262.5
320.0
382.5
450.0
595.0
750.0
915.0
1090.0
1275.0
1470.0
1675.0
1890.0
2227.5
2580.0
2947.5
3585.0
4247.5
4935.0
5647.5
6385.0
7147.5
AVERAGE MATURITY - 21. 992 YEARS
OFFICIAL BID FORM
Honorable Mayor and City Council
City of Schertz
Schertz, Texas 78154
Gentlemen:
Reference is made to your "Notice of sale" dated February 18, 1975,
covering $325,000 CITY OF SCHERTZ, TEXAS UTILITY SYSTEM REVENUE BO~~S,
SERIES 1975, which is made a part hereof.
For your legally issued bonds, as described
we will pay par plus accrued interest from
delivery to us, plus a cash premium of $
and bearing interest as follows:
in said "Notice
date of issue to
for bonds
of Sale",
date of
maturing
September 1, 1979 through September 1, 19 , 'Yo
September 1, 19_ through September 1, 19_, 'Yo
September 1, 19_ through September 1, 19_, 'Yo
September 1, 19_ through September 1, 19_, 'Yo
September 1, through September 1, , 'Yo
Interest cost in accordance with the above bid is:
Gross Interest Cost.................... $
Less: Premium. . . . . . . . . . . .. . . .. . . . . . ... $
Net Interest Cost...................... $
EFFECTIVE INTEREST RATE ...............
'Yo
Cashier's Check No. issued by
Bank, and payable to your order in the amount of $6,500.00 (is attached
hereto) (has been made available to you prior to the opening of this
bid) as a Good Faith Deposit for disposition in accordance with the
Official Notice of Sale.
Respectfully submitted,
By
Authorized Representative
The. above and foregoing bid
City Council of the city of
12th day of March, 1975.
is hereby in all things accepted by the
Schertz, Texas, in session this the
ATTEST:
Mayor, City of Schertz, Texas
City Secretary, City of Schertz, Texas
****************
Return of Good Faith Check is hereby acknowledged.
By
(See Reverse Side for Bond Years)
BOND YEARS
$325,000
CITY OF SCHERTZ, TEXAS
UTILITY SYSTEM REVENUE BONDS
SERIES 1975
YEAR
Dated: 3-1-1975
PRINCIPAL
( 9 - 1 )
ACCUMULATED
BOND YEARS
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
$ 5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
10,000
15,000
15,000
15,000
25,000
25,000
25,000
25,000
25,000
25,000
22.5
50.0
82.5
120.0
162.5
210.0
262.5
320.0
382.5
450.0.
595.0
750.0
915.0
1090.0
1275.0
1470.0
1675.0
1890.0
2227.5
2580.0
2947.5
3585.0
4247.5
4935.0
5647.5
6385.0
7147.5
AVERAGE MATURITY - 21.992 YEARS
OFFICIAL BID FORM
Honorable Mayor and City Council
City of Schertz
Schertz, Texas 78154
Gentlemen:
Reference is made to your "Notice of Sale" dated February 18, 1975,
covering $235,000 CITY OF SCHERTZ, TEXAS GENERAL OBLIGATION BONDS,
SERIES 1975, which is made a part hereof.
For your legally issued bonds, as described in said "Notice of Sale",
we will pay par plus accrued interest from date of issue to date of
delivery to us, plus a cash premium of $ for bonds maturing
and bearing interest as follows:
September 1, 1978 through September 1, 19_,
September 1, 19 through September 1, 19 ,
September 1, 19 through September 1, 19_,
-
September 1, 19 through September 1, 19_,
September 1, through September 1, ,
Interest cost in accordance with the above bid is:
'Yo
'Yo
'Yo
'Yo
'Yo
Gross Interest Cost ......................$
Less: Premium. .... ....... ...... .......... $
Net Interest Cost......................... $
EFFECTIVE INTEREST RATE...................
'Yo
Cashier's Check No. issued by
Bank, and payable to your order in the amount of $4,700.00 (is attached
hereto) (has been made available to you prior to the opening of this
bid) as a Good Faith Deposit for disposition in accordance with the
Official Notice of Sale.
Respectfully submitted,
By
Authorized Representative
The above and foregoing bid is hereby in all things accepted by the
City C9uncil of. the City of Schertz, Texas, in session this the 12th
day of March, 1975.
ATTEST:
Mayor, City of Schertz, Texas
City Secretary, City of Schertz, Texas
*****************
Return 0 f Good Faith Check is hereby acknowledged.
By
(See Reverse Side for Bond Years)
YEAR
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
BON!) YEARS
$235,000
CITY OF SCHERTZ, TEXAS
GENERAL OBLIGATION BONDS
SERIES 1975
Dated: 3-1-1975
PRINCIPAL
( 9 - 1 )
$ 5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
10,000
10,000
10,000
20,000
20,000
20,000
20,000
20,000
30,000
AVERAGE MATURITY - 19.223 YEARS
ACCUMULATED
RClND VF./\R!,;
17 .5
40.0
67.5
100.0
137.5
180.0
227.5
280.0
337.5
400.0
467.5
540.0
617.5
700.0
787.5
972 . 5
1167.5
1372.5
1802.5
2252.5
2722.5
3212 . 5
3722.5
4517.5
OFFICIAL BID FORM
Honorable Mayor and City Council
City of Schertz
Schertz, Texas 78154
Gentlemen:
Reference is made to your "Notice of Sale" dated February 18, 1975,
covering $235,000 CITY OF SCHERTZ, TEXAS GENERAL OBLIGATION BONDS,
SERIES 1975, which is made a part hereof.
For your legally issued bonds, as described in said "Notice of Sale",
we will pay par plus accrued interest from date of issue to date of
delivery to us, plus a cash premium of $ for bonds maturing
and bearing interest as follows:
September 1, 1978 through September 1, 19 -'
September 1, 19_ through September 1, 19_,
September 1, 19 - through September 1, 19_,
September 1, 19 - through September 1, 19_,
September 1, through September 1, ,
Interest cost in accordance with the above bid is:
'Yo
'Yo
'Yo
'Yo
'Yo
Gross Interest Cost ......................$
Less: Premium...... . . .... ...... .... .. .... $
Net Interest Cost.........................$
EFFECTIVE INTEREST RATE...................
'Yo
Cashier's Check No. issued by
Bank, and payable to your order in the amount of $4,700.00 (is attached
hereto) (has been made available to you prior to the opening of this
bid) as a Good Faith Deposit for disposition in accordance with the
Official Notice of Sale.
Respectfully submitted,
By
Authorized Representative
The above and foregoing bid is hereby in all things accepted by the
CityC9uncil of the City of Schertz, Texas, in session this the 12th
day of March, 1975.
ATTEST:
Mayor, City of Schertz, Texas
City Secretary, City of Schertz, Texas
*****************
Return of Good Faith Check is hereby acknowledged.
By
(See Reverse Side for Bond Years)
YEAR
1978
1979
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
BOND YEARS
$235,000
CITY OF SCHERTZ, TEXAS
GENERAL OBLIGATION BONDS
SERIES 1975
Dated: 3-1-1975
PRINCIPAL
( 9 - 1 )
$ 5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
5,000
10,000
10,000
10,,000
20,000
20,000
20,000
20,000
20,000
30,000
AVERAGE MATURITY - 19.223 YEARS
ACCUMULATED
R()Nn VF.I\RS
17.5
40.0
67.5
100.0
137.5
180.0
227.5
280.0
337.5
400.0
467.5
540.0
617.5
700.0
787.5
972.5
1167.5
1372.5
1802.5
2252.5
2722.5
3212 . 5
3722.5
4517.5