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Home My WebLink About1985-11-26-0200PM-Special (2)R 1 r Z f Y 11 1 1y I I I L5 I .1 1 4 l t { BR.AZOS COUNTY BRYAN. TBXA9 AGENDA FOR COMMISSIONERS' COURT MEETING - TUESDAY, NOVEMBER 26, 1985, 2:00 P.M. 1. CONSIDERATION OF ORDER AUTHORIZING THE ISSUANCE OF $9,425,000 BRAZOS COUNTY, TEXAS, GENERAL OBLIGATION REFUNDING BONDS, SERIES 1985; REFUND OF CERTAIN OUTSTANDING BONDS; ENTER INTO AN ESCROW I DEPOSIT AGREEMENT; A BOND PURCHASE AGREEMENT= A PAYER AGENT REGISTRAR AND OTHER MATTERS RELATING TO THIS ISSUE. ' j ~ l ( 4 ri7 f`l 1 4 ~ f J fk F { . I O W-1 cr- n r ~ N N ' •LF~ N cn an i VOL PACE 5 ~ l 1S t f t t ti r .,r - 1 _ 1 ' COMMISSIONERS' COURT SPECIAL MEETING NOVEMBER 26, 1985 A special meeting of the Commissioners' Court of Brazos County, Texas was held at 2:00 P.M. on Monday, November 26, 1985, with the following members of the Court presents R. J. Holmgreen, County Judge, presiding: Bill J. Cooley, Commissioner of Precinct 1 - Absent Walter Wilcox, Commissioner of Precinct 2; Billy E. Beard, Commissioner of Precinct 3; Milton Turner, Commissioner of Precinct 4; Frank Boriskie, County Clerk. The following citizens and officials were in attendance: Karen Zama Sue Smith Dan Culver Davis McGill Jim Savage W. R. Vance Sharon Fairchild Carol Snedeker Ruth McLeod Reynolds Allen and Cook Reynolds Allen and Cook McCall, Parkurst and Horton A. G. Edwards A. G. Edwards Vance, Bruchez and Goss County Auditor County Judge's Secretary Admin. Asst. The Court first considered an ORDER AUTHORIZING THE ISSUANCE OF $9,425,000 BRAZOS COUNTY, TEXAS, GENERAL OBLIGATION REFUNDING BONDS, SERIES 1985; REFUND OF CERTAIN OUTSTANDING BONDS; ENTER INTO AN ESCROW DEPOSIT AGREEMENT; A BOND PURCHASE AGREEMENT; A BOND REGISTRAR, PAYING AGENCY, AND TRANSFER AGENCY AGREEMENT; ORDER LEVYING TAXES FOR THE PAYMENT OF PRINCIPAL AND INTEREST. John Savage of A. G. Edwards stated that the purpose of the i i t a , \1 ~ Y t r N ~ ;t c , a , ko k h l- 0) it ` V L~ S PAG Ki ~~?riri.i."`'~,'"'--- - - ~~74!L„-1a3~.t>•+wr~"]~r:~.:3sS-+ral'y'3zr'. ;,-'~.~i..~ a ~_...,y..~_.. ~ 1 i r f rr p `y 1 ~ ~ r n• , ~ ~ ~ u♦ ~ a i J .r ~r„ 4 ' , / f • - issue of the Series 1985 Bonds was to combine the 1980 and 1981 Series Bonds for the Courthouse and would result in reducing the maturity date by 2 years and would save the county approximately $2,600,000. Mr. Savage further advised the Court that all expen- ses of the Refunding Issue could be paid out of bond proceeds. Mr. Savage advised the Court that the $9,450,000 issue would be at 7.767 per cent. Sue Smith, representing Reynolds, Allen and Cook outlined the documents being considered by the Court. I' After discussion of the procedure and on motion by Com- missioner Wilcox, seconded by Commissioner Beard, the Court voted unanimously to adopt three (3) Orders, which are attached hereto and made a part of these minutes. On motion by Commissioner Turner, seconded by Commissioner Wilcox, the Court voted unanimously to approve Claim No. 45062 in the amount of $3,817.17 to be paid out of the Revenue Shar- ing fund. There being no further business to come before the Court, the meeting was adjourned. I . a ~k k f t f I 1 .a r_ r ti 'r 1 ~r E r , i ~ t r • t~ I VO L S PAS o . 1 ~1=..~i®.+++i~~s~-r=zaaiar~is'~~'L. u:.Ys :~.1"•~+. ~ ~ t ~ r 1 0 The foregoing minutes have been examined and approved in open Court this the .9D,-, el. day of .4Oze-g ~ 19 , in Bryan, Brazos County, Texas. '/Z V k"Z' 'L" 7R. J. o mgreen County Judge a ter cox Commissioner, Precinct 2 v~ ,/-Cooley Bill Commi sioner, Preci t 1 A44 Billy Jr. ear Conmi sioner, Precinct 3 Miltdn Turner F an Bor e Commissioner, Precinct 4 County Clerk I 1 1 f !1 I IA I 1 ~A 1 A 1 111 {It~ l l11 I v V® PAGE b . ~ , tea. _.~~arxr..az..1.•- s+".e~-e~f r~ ti I i. - - Al 11 I 1 44 1.1 r t F J I JY y S r 4 0 i j(b~a. 1 1 i ` I 1 ~ 1 i t { , ~ I 1 I t `I 1 I' • t ~ 'I I r I ,I I ~ ~l 7 , t X61 A 1 . 71f S ~,1 S r1 c r a ~t 1{ l,t t~ Y ~e 4 r. ~Vf f~ I~ i~k] Yr M O Tv CERTIFICATE FOR ORDER THE STATE OF TEXAS S Q J COUNTY OF BRAZOS S We, the undersigned officers of the Commissioners Court (the "Court") of Brazos County, Texas (the "County"), hereby certify as follows: 1. The Court convened in special session on.the 26th day of November, 1985, at its regular meeting place thereof, within said County, and the roll was called of the duly constituted officers and members of the Court, to-wit: 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: Bill Cooley , thus constituting a quorum. Whereupon, among other business, the following was transacted at said meeting: a written 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 vote: AYES: 4 NOES: 0 2. That 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; that the Order has been duly recorded in the Court's minutes of said meeting; that 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; that 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; that 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; that said meeting was open to the public as required by law; and that public notice of the date, hour, place and subject of said meeting was given as required by Article 6252-17, Vernon's Texas Civil Statutes, as amended. SIGNED AND SEALED this 26th day of November, 1985. t Co ty Clerk County u ge (COMM.CT.SEAL) V O L PAG , I; 1 , I / I .,r y ut,:.eL - . v3'~ ?•re~s,.: L:Y'..a.u. ,l.a'wY. - - *.~"^..~:'i:aA.: ;r.~i ,I l~ 1 1 II h ; , i r r 1 1 ' I ' 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 PAYING AGENCY/REGISTRAR AGREEMENT, A BOND PURCHASE AGREEMENT, AND OTHER MATTERS RELATED THERETO ! WHEREAS, Brazos County, Texas (the "County") has been organized, created, and established pursuant to the Constitution and Laws of the State of Texas as a political subdivision of the State of Texas; and 'J WHEREAS, the County has heretofore authorized and issued the following series of bonds of which collectively $9,450,000 remains presently outstanding (the "Refunded Bonds"), 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 remains presently outstanding; (the "Series 1980-A Bonds"); and "Brazos County, rJ Texas, Permanent Improvement Refunding Bonds, Series 1981," a~ originally issued in the aggregate principal amount of t $9,000,000, of which $8,950,000 remains presently outstanding y (the "Series 1981 Bonds"); and I` WHEREAS, the the Commissioners Court of the County (the "Court") now deems it to be in the best interest of the County to issue a series of bonds to refund the Refunded Bonds, thereby s reducing the total debt service payable by the County and resulting in other benefits to the County; and h WHEREAS, with respect to refunding of the Refunded Bonds the Court hereby officially finds and declares that: (a) The Refunded Bonds were authorized to be issued bearing interest at such rate or rates, not to exceed the maximum interest rate authorized by law at the time of issuance, as was determined within the discretion of the Court, at the time of issuance, , a a 9 w~ i (b) The Court desires to refund the Refunded Bonds, in advance of their scheduled maturities in order to terminate and defease the obligation of the County to pay principal and interest on the Refunded Bonds, to effect a saving in interest cost to the County, and to derive other benefits to the County. (c) The Court is authorized by Article 717k, Vernon's Texas Civil Statutes, as amended, to issue refunding bonds for the purpose of refunding the Refunded Bonds in advance of their maturities, and to accomplish such refunding by I I i VO L PAGE t o " + 1 1 ~ r 1 i J ~