HomeMy WebLinkAbout1985-12-18-0730AM-Speciali -
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BR.AZOS COUNTY
BRYAN. TEXAS
AGENDA FOR SPECIAL EMERGENCY COMMISSIONERS' COURT MEETING
WEDNESDAY, DECEMBER 18, 1985 - 7:30 A.M.
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1. CONSIDERATION OF ORDER AUTHORIZING THE ISSUANCE OF $9,425,000
BRAZOS COUNTY, TEXAS,GENERAL OBLIGATION REFUNDING BONDS, SERIES
1985; A BOND PURCHASE AGREEMENT, AND OTHER MATTERS RELATING TO
THIS ISSUE.
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COMMISSIONERS' COURT
SPECIAL MEETING
DECEMBER 18,1985
The Commissioners' Court of Brazos County, Texas, met in
Special Emergency meeting on Wednesday, December 18, 1985 at
7:30 A.M. in the Commissioners Courtroom of the Brazos County
Courthouse, Bryan, Brazos County, Texas with the following
members of the Court present:
R. J. Holmgreen, County Judge, presiding:
Bill J. Cooley, Commissioner of Precinct 1;
Walter Wilcox, Commissioner of Precinct 2 - Absent
Billy E. Beard, Commissioner of Precinct 3;
Milton Turner, Commissioner of Precinct 4.
Other citizens present were:
Sharon Fairchild Auditor
Allison Blank Auditor's Daughter
Davis McGill A.G. Edwards 6 Sons
The Court considered an ORDER AMENDING THE ORDER AUTHORIZ-
ING THE ISSUANCE OF $9,450,000 BRAZOS COUNTY, TEXAS GENERAL
OBLIGATION REFUND BONDS SERIES 1985; REFUNDING OF CERTAIN OUT-
STANDING BONDS: ENTERING INTO AN ESCROW DEPOSIT AGREEMENT; A
BOND PURCHASE AGREEMENT; A PAYING AGENCY/REGISTRAR AGREEMENT;
AND OTHER MATTERS RELATING THERETO. Davis McGill, with A. G.
Edwards and Sons, Inc., explained that an error had been made
in the original Order adopted by the Commissioners' Court on
November 26, 1985, with respect to the Supplemental Interest
Certificates and advised the Court that the order should be
amended to allow for the issuance of the County's $9,450,000
General Obligation Refunding Bonds. On motion by Commissioner
Cooley, seconded by Commissioner Beard, the Court voted unani-
mously to adopt an order amending the original Order adopted
November 26, 1985. Such action being subject to the approval
of W. R. Vance, legal council for Brazos County. A full copy
of the Order is attached hereto and made a part of these minutes.
There being no further business, the meeting was adjourned.
VOL PAGE 199
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The foregoing minutes have been examined and approved in
open Court this the day of ,
19in Bryan, Brazos County, Texas.
A'q/ A'A'614inq
o mgreen
County Judge
B Cooley
Commissioner, Pre nct 1
Walter Wilcox
Commissioner, Precinct 2
B y ear
Commis ner, Precinct 3
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Milton Turner Fran Bork e
Commissioner, Precinct 4 County Clerk
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COUNTY OF BRAZOS
We, the undersigned officers of Brazos County, Texas (the "County"), hereby
certify as follows:
1. The Commissioners Court (the "Court") convened in special session on
the 18th day of December, 1985, at its regular meeting place thereof, within the County,
and the roll was called of the duly constituted officers and members of the Court, to-wits
R. J. Holmgreen County Judge
Bill Cooley Commissioner, Precinct 1
Walter Wilcox Commissioner, Precinct 2
Billy Beard Commissioner, Precinct 3
Milton Turner Commissioner, Precinct 4
and all of said persons were present, except the following absentees:
&)hL7GAe (~)1L (7~ el thus constituting a quorum. Whereupon, among other
business, the following was transacted at said meetings a written
ORDER AMENDING THE ORDER AUTHORIZING THE ISSUANCE OF
$9,450,000 BRAZOS, COUNTY, TEXAS GENERAL OBLIGATION
REFUNDING BONDS, SERIES 1985; REFUNDING OF CERTAIN
OUTSTANDING BONDS; ENTERING INTO AN ESCROW DEPOSIT AGREEMENT;
A BOND PURCHASE AGREEMENT;
A PAYING AGENCY/REGISTRAR AGREEMENT;
AND OTHER MATTERS RELATED THERETO
(the "Order") was duly Introduced for the consideration of the Court and read in full. It
was then duly moved and seconded that the Order be adopted; and, after due discussion,
said motion, carrying with It the adoption of the Order, prevailed and carried by the
following votes
AYES: NOES:
2. A true, full, and correct copy of the Order adopted at the meeting
described in the above and foregoing paragraph is attached to and follows this
certificate; the Order has been duly recorded In the Court's minutes of said meeting; the
above and foregoing paragraph is a true, full, and correct excerpt from the Court's
minutes of said meeting pertaining to the adoption of the Order; the persons named In
the above and foregoing paragraph are the duly chosen, qualified, and acting officers and
members of the Court as indicated therein; each of the officers and members of the
Court was duly and sufficiently notified officially and personally, In advance, of the date,
hour, place, and subject of the aforesaid meeting, and that the Order would be introduced
and considered for adoption at said meeting, and each of said officers and members
consented, in advance, to the holding of such meeting for such purpose; said meeting was
open to the public as required by law; and public notice of the date, hour, place, and
subject of said meeting was given as required by Article 8252-17, Vernon's Texas Civil
Statutes, as amended.
SIGNED AND SEALED this 18th day of December, 1985.
(COM.M.CT.SEAL)
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ORDER AMENDING THE ORDER AUTHORIZING
THE ISSUANCE OF $9,450,000 BRAZOS COUNTY, TEXAS
GENERAL OBLIGATION REFUNDING BONDS, SERIES 1985;
REFUNDING OF CERTAIN OUTSTANDING BONDS;
ENTERING INTO AN ESCROW DEPOSIT AGREEMENT;
A BOND PURCHASE AGREEMENT;
A PAYING AGENCY/REGISTRAR AGREEMENT;
AND OTHER MATTERS RELATED THERETO
THE STATE OF TEXAS §
COUNTY OF BRAZOS §
WHEREAS, the Commissioners Court of Brazos County, Texas
(the "Commissioners Court") has heretofore authorized the
issuance of the County's "$9,450,000 Brazos County, Texas General
Obligation Refunding Bonds, Series 1985" dated December 15, 1985
by an Order adopted on November 26, 1985 (the "Order"); and
WHEREAS, the Commissioners Court deems it advisable to
amend the Order with respect to Supplemental Interest
Certificates only as hereinafter provided;
THEREFORE, BE IT ORDERED BY THE COMMISSIONERS COURT OF
BRAZOS COUNTY, TEXAS THAT THE ORDER SHALL BE AMENDED AS FOLLOWS:
1. Section 3B of the Order is hereby amended to read
as follows:
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Section 3B. Supplemental Interest Certificates. In
addition to the Bonds, 18 supplemental interest certificates
("SICs"), numbered SIC 1 through SIC 18, dated the date of
delivery in the aggregate amount of $845,777.78 are hereby
authorized. All the supplemental interest is calculated on
the basis of a 360-day year, of twelve-30 day months, from
the date thereof and shall be payable on the date and in the
amount set forth in the table below.
Supplemental interest shall be evidenced by SICs in the
form set forth in Section 4B and shall be in addition to
interest on the Bonds as described in Section 3A. The SICs
shall be issued and shall become due and payable on the
supplemental interest payment due date set forth below:
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Supplemental
Supplemental
SIC
Interest
Interest
Number
Payment Date
Amount
1
March 1, 1986
$ 52,888.89
2
March 1, 1986
52,888.69
3
September 1, 1986
45,000.00
4
September 1, 1986
45,000.00
5
March 1, 1987
45,000.00
6
March 1, 1987
4$,000.00
7
September 1, 1987
45,000.00
8
September 1, 1987
45,000.00
9
March 1, 1988
45,000.00
10
March 1, 1988
45,000.00
11
September 1, 1988
47,500.00
12
September 1, 1988
47,500.00
13
March 1, 1989
47,500.00
14
March 1, 1989
47,500.00
15
September 1, 1989
47,500.00
16
September 1, 1989
47,500.00
17
March 1, 1990
47,500.00
18
March 1, 1990
47,500.00
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2. The first paragraph following the Form of the Bonds
on page 4 of the Order is hereby amended as follows:
"BRAZOS COUNTY, TEXAS (the "County"), a political
subdivision of the State of Texas, promises to pay to the
registered owner (the "Registered Owner") identified above,
or registered assigns, on the date specified above, upon
presentation and surrender of this bond at the principal
corporate trust office of MBank Dallas, N.A., Dallas, Texas,
or its successor (the "Paying Agent/Registrar"), the
principal amount identified above, in lawful money of the
United States of America, and to pay interest thereon at the
rate shown above, calculated on the basis of a 360-day year
of twelve 30-day months, from the later of December 15, 1985,
or the most recent interest payment date (defined below) to
which interest has been paid or duly provided for plus
supplemental interest evidenced by Supplemental Interest
Certificates 1 through 18, dated as of December 15, 1985, and
delivered concurrently with the Special Bond (defined in the
Bond Order as Bond No. R-5 or any bond bearing Supplemental
Interest issued in exchange or replacement for Bond No. R-5)
in the aggregate amount of $845,777.78. Interest on this
bond is payable by check or draft payable on March 1, 1986,
and each September 1 and March 1 thereafter (the "Interest
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Payment Date"), mailed to the Registered Owner of record as
shown on the books of registration kept by the Paying
Agent/Registrar (the "Register"), as of the date which is the
15th calendar day of the month next preceding each Interest
Payment Date (the "Record Date"), or in such other manner as
may be acceptable to the Paying Agent/Registrar.
3. The first paragraph of the Form of Bonds in Section
4A of the Order on page 5 for Bond No. R-5 is hereby amended as
follows:
"THIS BOND is one of a series of Bonds (the "Bonds")
dated as of December 15, 1985, of like designation, date, and
tenor, except as to number, interest rate, denomination, and
maturity issued pursuant to the Order adopted by the
Commissioners Court of the County (the "Court") on
November 26, 1985 (the "Order") which was amended with
respect to the Supplemental Interest Certificates only by an
Order of the Commissioners Court on December 18, 1985
(collectively, the "Bond Order"), in the original aggregate
principal amount of $9,450,000 for the purpose of refunding
bonds originally issued, of which collectively $9,450,000
remained outstanding on the date of the Bond Order (the
"Refunded Bonds"), are comprised of two separate issues, to
wit: "Brazos County, Texas Limited Tax Courthouse and
Building Bonds, Series 1980-A," originally issued in the
aggregate principal amount of $1,000,000, of which $500,000
remained outstanding on the date of the Bond Order; and
"Brazos County, Texas Permanent Improvement Refunding Bonds,
Series 1981," originally issued in the aggregate principal
amount of $9,000,000, of which $8,950,000 remained
outstanding on the date of the Bond Order."
4. Section 4B of the Order is hereby amended as
follows:
"B. The SICs. The SICs shall be issued, shall be payable at
the stated Supplemental Interest Payment Due Dates, in the
Supplemental Interest amounts, and shall be signed and executed,
all as provided in the manner set forth below. The form of the
SICs, the form of the Authentication Certificate, and the Form of
Assignment, which shall be, respectively, substantially as
follows, with necessary and appropriate variations, omissions,
and insertions as permitted or required by this order, and the
definitions contained within each such form shall apply solely to
such form.
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